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A very reasonable question!
And I've even taught college tax courses..so I'm glad you asked.
Taxes are the types of things too many people make a very big deal about, probably for no particular reason. And, considering they are things you'll likely have to deal with your entire life, it just makes common sense to start doing and learning it for yourself. really, no one will ever do as good a job of filing, or planning your financial and tax situation than yourself.
Your starting at a very good time...once these things were all done by hand. Not only did that make it functionally difficult, addition errors, wrong form lines, were common and changes, etc were all difficult.
Using any of the popular softwares, which are generally very cheap (like $10 after rebate, with some free certificates for efile etc)...and simply following the program will work just fine. They normally have a method of doing it quick or doing it long...basically, do the long method (it really doesn't take long), which will ask you questions...most of which won't be applicable to you (like perhaps things about your home mortgage interest), but will expose you to the things that can make a difference to taxes. It will also pick up and qualify any potential tax benefits for your schooling...HOPE credits, that type of thing. Even setting up a test person and doing the Q&A, (you know, as if you weren't a starving college student...but a highly paid exec with a little side biz, etc.)...gives a great learning opportunity.
Alternatively, to save even buying the program, there are online filing programs available for free...all also excellent:
http://www.irs.gov/efile/article/0,,id=118986,00.html
Go for it!
A very reasonable question!
And I've even taught college tax courses..so I'm glad you asked.
Taxes are the types of things too many people make a very big deal about, probably for no particular reason. And, considering they are things you'll likely have to deal with your entire life, it just makes common sense to start doing and learning it for yourself. really, no one will ever do as good a job of filing, or planning your financial and tax situation than yourself.
Your starting at a very good time...once these things were all done by hand. Not only did that make it functionally difficult, addition errors, wrong form lines, were common and changes, etc were all difficult.
Using any of the popular softwares, which are generally very cheap (like $10 after rebate, with some free certificates for efile etc)...and simply following the program will work just fine. They normally have a method of doing it quick or doing it long...basically, do the long method (it really doesn't take long), which will ask you questions...most of which won't be applicable to you (like perhaps things about your home mortgage interest), but will expose you to the things that can make a difference to taxes. It will also pick up and qualify any potential tax benefits for your schooling...HOPE credits, that type of thing. Even setting up a test person and doing the Q&A, (you know, as if you weren't a starving college student...but a highly paid exec with a little side biz, etc.)...gives a great learning opportunity.
Alternatively, to save even buying the program, there are online filing programs available for free...all also excellent:
http://www.irs.gov/efile/article/0,,id=118986,00.html
Go for it!
What else can I help you with?
What is the employer Penalty for not sending 1099?
Generally, $50 for the first error in filing/reporting and $500 for each after that.
What form do i use if i am filing married filing single?
There is only one instane that you should file married filing separately, it is by far the worst way to file, if you are married use the standard deduction if you do not itemize, the only way I would file separately (even if I am separated from my wife) is if she won a million dollars in the lottery and refused to report it on our tax report, I do not want to go to prison with her so I would file separate and have nothing to do with it. You would use a normal 1040 or 1040EZ/ A and at the top check "married filing separately". You gain the same standard deduction as filing single and you can only claim children once per return (another reason to file jointly). Whoever files taxes first will gain the benefit of claiming the children.
What is the difference between a Bcom Degree and a BCompt?
Is a first year University Student considered an under-graduate
When filing a dispute you relinquish your right to recover a disputed amount if you do not dispute it in writing before the 55 days from the date the erroneous charge first appeared on your billing?
False
Should you file for bankruptcy first and then file your taxes to keep you tax refund?
It makes no difference. The refund of your overpayment is an asset that is part of your BK anyway. It was overpaid using funds before your filing, that would/could have been used to pay debts..it is a pre-ptition asset...simply on deposit at the Gov't. When you file to receive it is irrelevant.
If you went to a community college but withdrew from all classes what should you apply to a college as?
If it was your first semester and you legally withdrew from all courses, you would apply as a first-time student.
What is a first generation college student?
It refers to the first individual in a family to attend a college or university.
Title of 1 st yr college student?
Within the United States a first year college student is referred to as a freshman.
Should tow robbers have the same punishment if the first is poor and the second is college student?
Usually the poor man will have it paid by the government and will be in debt & the college man MUST pay
What is the first step in obtaining a student grant for college?
The first step in obtaining a student grant for college is applying to the college itself and seeing if there is any financial assistance offered. Then one must apply for the grant.
Student who will be the first in in his or her family to attend college is called a student?
A student who will be the first in their family to attend college is often referred to as a "first-generation college student." This designation highlights the unique challenges and experiences they may face as they navigate the higher education system without familial precedents. First-generation students often benefit from targeted support programs aimed at helping them succeed in their academic journey.
What did the oberlin college do for Lucy stone?
Evidentally she was a student there, Oberlin was the first Co-ed college in the US.
What should you do first if a student reports harassment to you?
If a student reports harassment to you, the first thing you should do is listen to them attentively and take their concerns seriously.
What does a college student need to get a job in criminal justice?
If you are a college student looking for a criminal justice job first your must in-roll in a criminology program. Graduate school in not necessary for this.
Where can I get 1040 tax help online, as I am a college student filing taxes for the first time?
The best place to go online would be the IRS website which is user friendly. If you cannot find what you want on their site, you could use the phone number they have posted online.
How many times does the average college student change their major before they graduate?
The average college student will change their major two to three times before they graduate. You do not have to declare a major when you first enter college if you do not wish to.
What does first generation refer to in terms of financial aid?
It means you will be the first generation in your family to earn a college degree. So if neither your parents or grandparents have a college degree, you would be a first generation college student.
