Comments on: Tax Tips for 18-25 Year-Olds http://poorerthanyou.com/2009/03/08/tax-tips-for-18-25-year-olds/ Money issues for college students and 20-somethings, without being boring. Tue, 24 Apr 2012 13:02:17 +0000 hourly 1 http://wordpress.org/?v=3.3.1 By: Patrick R. Carlson http://poorerthanyou.com/2009/03/08/tax-tips-for-18-25-year-olds/#comment-156911 Patrick R. Carlson Mon, 06 Jun 2011 18:48:12 +0000 http://poorerthanyou.com/2009/03/08/tax-tips-for-18-25-year-olds/#comment-156911 It's a good idea for everyone to brush up on their taxes every so often. Planning your taxes can result in a faster tax preparation process and lower tax burden. Rather than waiting until the end of the year, you should make sure you are on track. Take a look at what your return is going to look like, at the very latest in December. That way you still have time to make charitable contributions or gather paperwork that may be necessary at filing time. It’s a good idea for everyone to brush up on their taxes every so often. Planning your taxes can result in a faster tax preparation process and lower tax burden.

Rather than waiting until the end of the year, you should make sure you are on track. Take a look at what your return is going to look like, at the very latest in December. That way you still have time to make charitable contributions or gather paperwork that may be necessary at filing time.

]]> By: Stephanie http://poorerthanyou.com/2009/03/08/tax-tips-for-18-25-year-olds/#comment-84299 Stephanie Sun, 10 Jan 2010 22:22:19 +0000 http://poorerthanyou.com/2009/03/08/tax-tips-for-18-25-year-olds/#comment-84299 @Rebekah: the links aren't working right now because you cannot e-file for the 2009 tax year until January 15th, 2010. On that day or soon after, the links will all be fresh and new. Happy taxes! @Rebekah: the links aren’t working right now because you cannot e-file for the 2009 tax year until January 15th, 2010. On that day or soon after, the links will all be fresh and new. Happy taxes!

]]> By: Rebekah http://poorerthanyou.com/2009/03/08/tax-tips-for-18-25-year-olds/#comment-84291 Rebekah Sun, 10 Jan 2010 18:30:55 +0000 http://poorerthanyou.com/2009/03/08/tax-tips-for-18-25-year-olds/#comment-84291 Turbotax has changed their website so all your links are dead. Can you update this post? Thanks! Turbotax has changed their website so all your links are dead. Can you update this post? Thanks!

]]> By: Warren http://poorerthanyou.com/2009/03/08/tax-tips-for-18-25-year-olds/#comment-72315 Warren Tue, 10 Mar 2009 13:39:04 +0000 http://poorerthanyou.com/2009/03/08/tax-tips-for-18-25-year-olds/#comment-72315 One thing that is not well highlighted - even by TurboTax, though it does technically walk you through it - is that scholarships in excess of tuition, books, and required fees counts as taxable income. Many times, scholarships cover the extra, necessary expenses for going to school as well: namely room and board (whether in the dorm or off-campus). Any scholarship that pays for this IS taxable income and you are required to pay taxes on it. I was hit with a $700 tax bill one year (wouldn't have been that way if my had claimed myself instead of my mother claiming me as a dependent)! One thing that is not well highlighted – even by TurboTax, though it does technically walk you through it – is that scholarships in excess of tuition, books, and required fees counts as taxable income. Many times, scholarships cover the extra, necessary expenses for going to school as well: namely room and board (whether in the dorm or off-campus). Any scholarship that pays for this IS taxable income and you are required to pay taxes on it. I was hit with a $700 tax bill one year (wouldn’t have been that way if my had claimed myself instead of my mother claiming me as a dependent)!

]]> By: Grant Baldwin http://poorerthanyou.com/2009/03/08/tax-tips-for-18-25-year-olds/#comment-72288 Grant Baldwin Mon, 09 Mar 2009 13:19:18 +0000 http://poorerthanyou.com/2009/03/08/tax-tips-for-18-25-year-olds/#comment-72288 I love Turbo Tax and have been using them for as long as I've been doing my taxes...great product! Good list of tips...thanks for bringing it to our attention Stephanie! I love Turbo Tax and have been using them for as long as I’ve been doing my taxes…great product! Good list of tips…thanks for bringing it to our attention Stephanie!

]]> By: Eric http://poorerthanyou.com/2009/03/08/tax-tips-for-18-25-year-olds/#comment-72258 Eric Sun, 08 Mar 2009 17:18:06 +0000 http://poorerthanyou.com/2009/03/08/tax-tips-for-18-25-year-olds/#comment-72258 Nice roundup. I didn't even know TurboTax had a blog. I just subscribed! Nice roundup. I didn’t even know TurboTax had a blog. I just subscribed!

]]> By: Weekly Round Up: Mint Edition http://poorerthanyou.com/2009/03/08/tax-tips-for-18-25-year-olds/#comment-72257 Weekly Round Up: Mint Edition Sun, 08 Mar 2009 17:02:32 +0000 http://poorerthanyou.com/2009/03/08/tax-tips-for-18-25-year-olds/#comment-72257 [...] Tax Tips for 18-25 Year-Olds [...] [...] Tax Tips for 18-25 Year-Olds [...]

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