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TheStreet Open House

Changing Family Dynamic May Lead To Tax Relief

But it's not just the personal exemption that could help taxpayers. Individual taxpayers might qualify and get the "extra benefit" of filing as head of households if they legally can claim children, parents or relatives as a dependent, said Jackie Perlman, principal tax research analyst for H&R Block .

For example, the 15 percent tax bracket applies to taxable income up to $47,350 for heads of households and $35,350 for individual returns. At the 25 percent tax bracket, it's $133,300 for heads of households and $85,650 for single filers.

Steber said taxpayers have to understand that it's not just nuclear family members who might qualify. Think beyond children and parents. If you're providing half the support for an aunt or uncle, niece or nephew whose income for the year was under $3,800, you may be able to claim them as dependents.

Copyright 2011 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
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