How to Do Your Taxes

15 Apr

(img source: occupywallst.org)

Auh! It’s tax time! And it’s really not that hard to do. Am pretty tired of everyone talking about taxes like its hard, arduous, and difficult. As a girl who just graduated college, it shouldn’t be. And we can get the hang of it, don’t worry!

One of my friends, Daniel Neighbors, is a certified accountant. I asked him for help this year. Prior, I had gone to the library and grabbed every tax form and booklet they had. “Okay, so what is all this? 1040EZ, 1040A, 1040, what??”

Here’s a link that explains how to know what form to use: http://www.irs.gov/newsroom/article/0,,id=105099,00.html

And the booklets at the library tell you exactly how to fill the forms out. If you’re like me, you’ll fill out the 1040 so we can write off our education fees and get some money back!

You can do your taxes online (for free) through this website: https://www.taxactonline.com

Two important questions for you to ask your parents if this is your first time doing taxes:

1. Do your parents claim you as a dependent?

2. Do your parents claim your school fees on their tax return?

If the answer to these are No, you can get more tax return dollars (hollah!) in the mail.

Next year, my tax return might not be so simple. I’m running a blog, freelancing, blah blah. I don’t really know what to do, but here’s a link that gives some good tips to keep in mind:

http://www.justlove.ly/2012/02/tax-tips-for-bloggers-small-business.html

P.S. Taxes are actually due (this year) April 17th.

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