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The document is the Annual ST-101 Sales and Use Tax Return for New York State, covering the tax period from March 1, 2015, to February 29, 2016. It outlines the requirements for filing sales tax, including identification information, reporting taxable sales and purchases, claiming credits, and calculating taxes due. The return must be submitted by March 21, 2016, with instructions for final returns if a business is sold or discontinued.

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How do I know if I should file jointly or separately?

While the tax code encourages married couples to file their tax returns jointly, there are a few scenarios where married filing separately could be beneficial. These include when both spouses have about the same amount of income and when combining income pushes a couple into a higher tax bracket.

What is the most common form of reporting income?

The most common of these forms are: Form W-2. Its filled out by your employer to document your earnings for the calendar year. This tax form supplies you with some of the most important information youll need when you fill out your 1040 including the wages you earned and the taxes your employer withheld.

What filing status should I choose?

Single if youre unmarried, divorced or legally separated. Married filing jointly if youre married or if your spouse passed away during the year. Married filing separately if youre married and dont want to file jointly or find that filing separately lowers your tax. Most couples save money by filing jointly.

Which filing status gives the biggest refund?

Simple as that. Married filing jointly is the most common filing status for married couples. This status has the highest standard deduction and some of the most beneficial tax rate brackets. You file together and report combined income, along with your combined deductions and qualifying credits on the same return.

What are the filing requirements for most taxpayers?

If you were under 65 at the end of 2024 If your filing status is:File a tax return if your gross income is: Single $14,600 or more Head of household $21,900 or more Married filing jointly $29,200 or more (both spouses under 65) $30,750 or more (one spouse under 65) Married filing separately $5 or more1 more row Jan 28, 2025

Is it better to claim 1 or 0 when married?

Single with 1 dependent generally takes out less tax than Married with 0 dependents because youre claiming a dependent, which reduces your taxable income and the amount of withholding.

What is the gross income filing requirement?

If you meet the single status tax filing requirements and youre under 65, you must file if your federal gross income was $14,600 or more. If youre 65 or older, you must file if your federal gross income was $16,550 or more.

What is the best filing status for taxes?

More Room for Tax Breaks: Filing together usually means you can earn more and still qualify for certain tax breaks, like IRA contributions and education credits. Watch Out for Higher Rates: If you file separately, you might pay higher taxes than if you teamed up on a joint return.

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Is it better to claim 1 or 0 when married?

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What filing status should I choose?

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What are the filing requirements for most taxpayers?

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