U.S. Tax Season 2015 |OT1| Tha gub'ment stole from me!
- Page 1 of 1
So... as a tax novice myself, I figured it would be a good idea to open a thread where anyone with knowledge on the subject can help a brother like me out when it comes to filing taxes, or understanding the American tax system in general, as well as any advice on deductions, refunds, different state taxes and all the loopholes to take advantage of, lol. :P
I used turbotax like you and got decent return considering my contribution. Didn't have any crazy deductions, just textbooks and stuff like that. Probably gonna get a laptop late this year and count that as education expense too.
Nothing is going to get you a larger return than to claim (underage) dependents.
It also helps to make less than 46k household income.
The difference between my return the year before where I was barely making over minimum wage and last year on my return when I am above the national average is almost $4k.
It also helps to make less than 46k household income.
The difference between my return the year before where I was barely making over minimum wage and last year on my return when I am above the national average is almost $4k.
If you're a student and you pay your own tuition make sure to get one of those expense forms from your school and file it with your return. That's where the bulk of my return came from this year.
Childcare deduction, if you own your own business or are a 1099 employee then miles, client diners, etc. are all deductible to a certain percentage. If you're head of household you get a deduction. Etc. Paying school loans, interest on loans.
If you own a business the entire world opens up to you in terms of deductions. Options that allow you to fund your own retirement and claim deduct 100% of the cost as a business expense, though you would have to claim a percentage as personal income. Really depends on what you do and what you want to accomplish.
If you own a business the entire world opens up to you in terms of deductions. Options that allow you to fund your own retirement and claim deduct 100% of the cost as a business expense, though you would have to claim a percentage as personal income. Really depends on what you do and what you want to accomplish.
By MorisI used turbotax like you and got decent return considering my contribution. Didn't have any crazy deductions, just textbooks and stuff like that. Probably gonna get a laptop late this year and count that as education expense too.
Still cooking the books even after leaving that bank smh
By harSonBy MorisI used turbotax like you and got decent return considering my contribution. Didn't have any crazy deductions, just textbooks and stuff like that. Probably gonna get a laptop late this year and count that as education expense too.
Still cooking the books even after leaving that bank smh
I'll use for school....among other things.