Release v3.1b adds Head of Household as a filing option. When users select this option, it will use the Head of Household Federal tax brackets. It will also automatically change the standard deduction to $22,250.
See link below for a comparison of how the filing status impacts the net worth and taxes over time. In this example, only filing status and the standard deduction were changed with the other values held constant. As would be expected, “Married Filing Jointly” had the best result since it has the biggest tax advantage. “Head of Household” was slightly better than “Single”. This is partially due to the advantage in the lower/middle brackets, but also due to the larger standard deduction.
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