Answers in Tax Planning
No one looks forward to April 15th, but with careful planning you can feel confident that you are fully prepared.
Good for you Ryan! The best way to learn about filing taxes is to do it, but you may want some help as you get started. Look for free help through community resources and your library. They can be a great means for education and checking your numbers.
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Good for you Ryan! The best way to learn about filing taxes is to do it, but you may want some help as you get started. Look for free help through community resources and your library. They can be a great means for education and checking your numbers. If you taxes are not too complicated, you can get a paid tax preparer or use tax software to guide you as you put your numbers together. If you have lots of questions and really want hand holding, hire an accountant or CPA.
As far a deductions, you may want to go through the exercise of itemizing your deductions and then comparing them to the standard deduction. You may use the larger of the two numbers on your taxes, but you may not know which is larger until you do the calculation. Tax software will perform the comparison for you. Good luck and congratulations on being an official taxpayer!
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To answer your first question, the IRS will begin accepting tax returns on Jan 31st (later than normal due to the government shutdown).
It is hard to say with your exact situation but unless you itemize your deductions chartable donations and work expenses
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To answer your first question, the IRS will begin accepting tax returns on Jan 31st (later than normal due to the government shutdown).
It is hard to say with your exact situation but unless you itemize your deductions chartable donations and work expenses will most likely NOT be deductible.
You may be eligible for the Earned Income Credit and the Saver's Credit though...depending on your Adjusted Gross Income.
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