NT School me on Income Tax Vol. Lets get paid

1c3m4m

1c3m4m

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Had my job since December of 09, wud b my first time filing, thinking about going to H&R to file it, is there anything I shud kno or keep in mind throughout the process? And is there anything other than taxes I could get a return from? I am 19, a student, moms pays for tuition tho.
 
Had my job since December of 09, wud b my first time filing, thinking about going to H&R to file it, is there anything I shud kno or keep in mind throughout the process? And is there anything other than taxes I could get a return from? I am 19, a student, moms pays for tuition tho.
 
checking in too.
first time filing on my own, my mom usually does it for me. Figured it's time I learn to do it on my own
 
checking in too.
first time filing on my own, my mom usually does it for me. Figured it's time I learn to do it on my own
 
have you paid taxes? depending on how much you make as a student you can be exempt and not have anything coming out of your check -  also you said your moms pays your tuition does she list you as a dependent on her taxes?

once you figure these things out - get your W2 from your job and go to turbotax or something ...you have a basic return and it walks you thru step by step...no need to pay crazy amounts esp when you most likely wont be getting much / if any-
 
have you paid taxes? depending on how much you make as a student you can be exempt and not have anything coming out of your check -  also you said your moms pays your tuition does she list you as a dependent on her taxes?

once you figure these things out - get your W2 from your job and go to turbotax or something ...you have a basic return and it walks you thru step by step...no need to pay crazy amounts esp when you most likely wont be getting much / if any-
 
I do pay taxes, moms pays tuition and she list me as a dependent last yr but wont b this yr due to the fact im doing my own return. I kinda ran into a problem tho, at my job when I first started (young and stupid) I put myself as single and claimed myself instead of putting single and claiming 0. Now i know i wont b getting as much money but was there any benefit of me doing that dum decision? I really didnt know what I was doing at the time.
 
I do pay taxes, moms pays tuition and she list me as a dependent last yr but wont b this yr due to the fact im doing my own return. I kinda ran into a problem tho, at my job when I first started (young and stupid) I put myself as single and claimed myself instead of putting single and claiming 0. Now i know i wont b getting as much money but was there any benefit of me doing that dum decision? I really didnt know what I was doing at the time.
 
technically that "dum" thing was the right thing....you dont want to have them holding your $ for a year then giving it back to you....you essentially paid what you were supposed to pay and at the end you might have paid a little over or a little less...some people try to get it as exact as possible

basically a RETURN is them giving you back the excess of what you paid - so you got to keep your money and had more per paycheck thru the year
the other way would be to get less per check then a lumpsum around tax time
 
technically that "dum" thing was the right thing....you dont want to have them holding your $ for a year then giving it back to you....you essentially paid what you were supposed to pay and at the end you might have paid a little over or a little less...some people try to get it as exact as possible

basically a RETURN is them giving you back the excess of what you paid - so you got to keep your money and had more per paycheck thru the year
the other way would be to get less per check then a lumpsum around tax time
 
Originally Posted by 1C3M4M

I do pay taxes, moms pays tuition and she list me as a dependent last yr but wont b this yr due to the fact im doing my own return. I kinda ran into a problem tho, at my job when I first started (young and stupid) I put myself as single and claimed myself instead of putting single and claiming 0. Now i know i wont b getting as much money but was there any benefit of me doing that dum decision? I really didnt know what I was doing at the time.
Click to expand...

nerd.gif


in a nutshell...
the more they take out, the more you get back.

the less they take out, the less you get back.

in a bigger nutshell...

everything usually comes back to you

its just how much you choose to claim
 
Originally Posted by 1C3M4M

I do pay taxes, moms pays tuition and she list me as a dependent last yr but wont b this yr due to the fact im doing my own return. I kinda ran into a problem tho, at my job when I first started (young and stupid) I put myself as single and claimed myself instead of putting single and claiming 0. Now i know i wont b getting as much money but was there any benefit of me doing that dum decision? I really didnt know what I was doing at the time.
Click to expand...

nerd.gif


in a nutshell...
the more they take out, the more you get back.

the less they take out, the less you get back.

in a bigger nutshell...

everything usually comes back to you

its just how much you choose to claim
 
Originally Posted by CJDynasty

Originally Posted by eNPHAN

do it online bro bro....

its free.
Click to expand...

This!
  
Click to expand...
Co-sign
pimp.gif
  FYI, the IRS will NOT be accepting and processing returns until 2morrow.  I got my W2 yesteday and did mine already.  I would've waited, but I want to pay off this bedroom set like yesterday.
 
Originally Posted by CJDynasty

Originally Posted by eNPHAN

do it online bro bro....

its free.
Click to expand...

This!
  
Click to expand...
Co-sign
pimp.gif
  FYI, the IRS will NOT be accepting and processing returns until 2morrow.  I got my W2 yesteday and did mine already.  I would've waited, but I want to pay off this bedroom set like yesterday.
 
Good looks Tre n Lyricist, you guys made it nice n simple, hopefully I get something, could rly use whatever, now explain this 1040 from, is it different from a W-2? And i heard that H&R are doing 1040's for free till Feb.
 
Good looks Tre n Lyricist, you guys made it nice n simple, hopefully I get something, could rly use whatever, now explain this 1040 from, is it different from a W-2? And i heard that H&R are doing 1040's for free till Feb.
 
i know these dudes better come up off these w2s.....

i guess the later the better, ill have pocket money for #NTFL
 
i know these dudes better come up off these w2s.....

i guess the later the better, ill have pocket money for #NTFL
 
Originally Posted by 1C3M4M

Good looks Tre n Lyricist, you guys made it nice n simple, hopefully I get something, could rly use whatever, now explain this 1040 from, is it different from a W-2? And i heard that H&R are doing 1040's for free till Feb.
Click to expand...

laugh.gif
damn son - just go to one of them sites and get the basics down...W2 is gonna summarize your earnings, taxes withheld etc...1040 is a basic tax return form -

basically you take numbers from certain boxes on the w2 and put them in certain boxes on the 1040 and bam ...just go on turbotax and do the most basic free joint and see what happens...

Originally Posted by eNPHAN

i know these dudes better come up off these w2s.....

i guess the later the better, ill have pocket money for #NTFL
Click to expand...
most places have to have them out by 1-15 i think....if you cant wait use your last check of the year...
 
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