Tax season
As a college student who has been filing her own taxes for the past few years, here is a few things I’ve learned about in my three years of filing for myself!
1. You DO NOT need to pay for help filing!!
- there are so many programs where it says to pay anywhere from $50 to $100+ but you do not NEED to pay for those
- these programs can be utilized for free and give you tips and walk you through the whole process
2. List EVERYTHING
- I’ve learned that the best way to get my maximum refund, I put all expenses that I need and go through the different tax breaks to see what works out best for me
3. Don’t LIE
- I’ve never personally dealt with this one, but I’ve had some friends that filled something either accidentally or maybe intentionally and the IRS did send them a nice piece of mail saying they owe money… is it fair? Probably not! But it’s what can happen!
- you fill out a form that states you will NOT commit perjury and as long as you follow through with this everything will be great!!
How do you feel about tax season? And how are you feeling about your return!?
As tax season approaches, it's crucial for college students to understand their filing options and responsibilities. Many students are unaware that they can file their taxes without incurring costs. Programs like H&R Block and TurboTax offer free templates that guide you step-by-step through the process, ensuring you don’t miss key deductions. Maximizing your tax refund requires thoroughness. It's beneficial to gather all your W-2s and document any payments made throughout the year. Every expense can contribute to a larger refund if you're diligent in documenting them. Additionally, understanding available tax breaks can help you tailor your filing to your financial benefit. Honesty is paramount in tax filing. Misreporting can lead to serious repercussions, including the IRS pursuing owed funds. It’s crucial to fill out all forms accurately, affirming that you will not commit perjury. Being truthful not only protects you but ensures a smoother filing process. During tax season, keeping informed and organized can make a substantial difference in your overall experience. Engage with forums or seek out tax-focused communities online to share experiences and gain insights. This tax season, empower yourself with knowledge that can ease the burden of filing and potentially increase your refund.