Tax Breaks for Single Women
- If you paid for all your household expenses and have at least one dependent, which could be a child, elderly or disabled relative, you qualify to file your taxes as head of household. The Internal Revenue Service offers a lower tax rate to this group than the rates for single individuals or married couples filing separately. If you qualify to file as head of household, you also receive a higher standard deduction than single or married taxpayers filing separately.
- As long as the total of all your deductions is more than the standard deduction, work-related expenses can reduce the amount of tax you owe. The standard deduction for a single taxpayer who is not head of household was $5,700 in 2010 and qualified heads of household received $8,400. Uniforms, supplies, equipment, work-related travel that your employer does not reimburse, and even cell phones or computers that you use for work at home are all deductible work expenses.
- Medical expenses that exceed 7.5 percent of your adjusted gross income, which is Line 37 on the 1040 form, can be deducted from your income if you itemize. Dental and vision expenses are deductible, along with medical bills, prescriptions, medical equipment and travel to medical appointments. If you pay for the medically necessary care of an elderly or disabled parent or other relative, do not overlook these costs.
- Cash donations to qualified charities, which can include churches, hospitals, schools, libraries and museums in addition to food banks, clothes closets and soup kitchens, are tax deductible as long as you itemize. Ask charities for acknowledgment letters that clearly state the charity's eligibility to receive tax-deductible contributions.The IRS allows you to deduct the fair market value of donated items like clothing and appliances. For example, a donated television can be deducted at the price it would sell for in a thrift shop.
