Taxes Topic

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WinnieThePujols

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I got my tax info today from my employer. I have a few questions...

What online tax service would you recommend that is free? Last year I remember having to re-do the entire thing like three times on a number of different sites, because when you got to the end you'd actually have to pay (despite them claiming it to be free).

Also, can someone try and explain how much taxes you get back? I know it's probably complicated and varies, but... for what it's worth:
- I made about $8,800
- I got taxed like $700+ in federal taxes
- About $120 in state taxes (North Dakota)
- I am a dependent, as my parents will claim me and I live at home
- When I started this job, I picked the thing that taxes me the most per paycheck (so I have the largest tax return)
- I'm a college student that works part-time (does this factor in at all?)

Can anyone estimate how much you think I'd get back? I've heard some people say I'll get all the federal back, some say that I'll get 40% of the federal back... etc... anyone have a confident answer?
 
I would go with turbotax or the like, during the season, they are practically giving them away at best buy or circuit city after rebates. Plus they usually run a promotion with it, so you get a added value. Also you can get a extra % if you choose to get your refund in the form of a gift card to a retailer... like if you use amazon.com its like free money!!!
 
You have to pay to file online using TurboTax, just FYI.

Why don't you just use the 1040EZ form? For someone that's not itemizing deductions, doesn't have any capital gains to report, etc. and just has income from one W2 it's very simple. Basically you'll pop different numbers from the W2 in a few boxes and do a little addition and subtraction.

But if you want to look at online services, here is the IRS's page on FreeFile (starts Jan 16th.) Never looked into it myself. http://www.irs.gov/efile/article/0,,id=118986,00.html

As for the ND state stuff, no idea.
 
Last year I used that FreeFile IRS site that wubb linked to. Every site listed offered free filing for FEDERAL tax return and ~$20 for filing the STATE tax return. I was lucky that I lived in Georgia and one of the sites only charged Ga residents $7 for the state return.

If you want to file for free then go to the library and get Form1040EZ for federal and state. They should be easy for you since you didn't make much and you're claimed as a dependent by your parents.

According to this site you'll be paying $755 plus 15% of the amount over 7,550 in taxes. Remember you have to subtract the standard deduction from your total income first, then you figure how much tax you owe (or refund you get). Sorry but I don't know what your standard deduction is when someone claims you as a dependent. I know you would have a much bigger deduction if no one claimed you. Think of it this way though, at least your helping your parents get more money back.

EDIT: That is only income tax in case you didn't know. You don't get a refund for social security taxes, etc, etc, ):
 
Anyone else interested in turning this into a general taxes thread? I have a bit more complicated tax situation this year compared to all previous years (I wouldn't be using the 1040EZ for the first time ever) and I'm trying to see if I'm capable of doing this myself.
 
I've always gone for the free deal myself. Last year i had to put my refund on a HR Block debit to do so though. I couldn't use the 1040EZ because my income was over the maximum.

Bought a condo so i gotta factor in that stuff...im gonna try and tally money ive made from ebay/half/amazon too so im sure that will be fun.
 
I would use that the thing with the Eagle wearing Uncle Sams hat. That program seems to be in the main stream since it is mentioned in file types.
I forget the name.

Also I suggest doing your taxes yourself. People charge money for this.

If you need info just read "Doing your Taxes for dummies".

On a Salary Taxes is automatically taken out. So it is mostly listing your
X expenses like your bill amounts, the number of people in a household, how much was your gambling losses, donations, bail, jury time served, and so on.

The whole idea of doing your Taxes is to get a return. If you do not do your taxes then you will not get a return in most cases.

Also since "Jews don't join the Army" why don't you ask the moderators of this webpage who is displayed in cartoonish form.
 
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