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Off-Topic / DrP Gives Tax Advice
« on: January 17, 2015, 02:30:19 AM »
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Since tax season is coming up and a lot of you have jobs, I can provide some helpful tips and hints to avoid paying tax when you don't have to.
For example if you make/plan to make less than $6,300 and still are dependent on your parents for financial support, you can claim an exemption from federal and state income taxes. This means you don't have to give the government an interest-free loan so you have to file some papers and get money back a year later.
Let me know if you have questions! I am here to help (and because I LOVE talking about this).
Advice #1: Withholding - If you get more than a $100 refund before any special deductions, then you should change your withholding allowances
Advice #2: Education Credit - You can get up to $1,000 back from the federal government just for paying college tuition. Some states also have credits.
Advice #3: The Earned Income Credit - COMING SOON
Advice #4: Student Loan Interest - COMING SOON
Advice #5:
Since tax season is coming up and a lot of you have jobs, I can provide some helpful tips and hints to avoid paying tax when you don't have to.
For example if you make/plan to make less than $6,300 and still are dependent on your parents for financial support, you can claim an exemption from federal and state income taxes. This means you don't have to give the government an interest-free loan so you have to file some papers and get money back a year later.
Let me know if you have questions! I am here to help (and because I LOVE talking about this).
Advice #1: Withholding - If you get more than a $100 refund before any special deductions, then you should change your withholding allowances
Advice #2: Education Credit - You can get up to $1,000 back from the federal government just for paying college tuition. Some states also have credits.
Advice #3: The Earned Income Credit - COMING SOON
Advice #4: Student Loan Interest - COMING SOON
Advice #5: