Household Expenses


DEFINITION of 'Household Expenses'

A per person breakdown of general living expenses. It includes the amount paid for lodging, food consumed within the home, utilities paid and other expenses. The sum of all the expenses is then divided by the number of family members residing in the house in order to find each member's part of the total expense.

BREAKING DOWN 'Household Expenses'

If you have "head of household" status, you can enjoy a larger standard deduction and lower tax rates.

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  3. Tax Liability

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  4. Dependent

    An individual whom a taxpayer can claim for credits and/or exemptions. ...
  5. Head Of Household

    A status held by the person in a household who is running the ...
  6. Member Of Household

    A person who is claimed as a dependent when filing year-end tax ...
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