Find Jobs
Hire Freelancers

Build an Online Store

$30-250 USD

Cerrado
Publicado hace alrededor de 8 años

$30-250 USD

Pagado a la entrega
Tax Prep Advice for Students TurboTax and H&R Block have advertisements everywhere this time of year, and that means one thing: tax season is here. But what does this mean if you’re a student? Do you have to file taxes? Does the IRS really care about that work study money you earned? You’ve got questions, and we’ve got answers.1. Do I need to file taxes as a student?It depends on your family situation. If your parents pay less than 50% of your expenses, then you’re free to file as an independent. But if your parents pay more than 50% of your expenses, they could claim you as a dependent. That means they can take advantage of deductions and education credits like the American Opportunity and Lifetime Learning Credit. Because your parents are in a higher tax bracket, those tax deductions and credits are going to be a lot more valuable to them than they are to you. Of course, if they do claim you as a dependent and take advantage of those benefits, that means you probably won’t get a tax refund. So it’s a trade-off. Talk to your parents about their financial situation and whether it makes more sense for them to claim you.2. When are my taxes due?Federal tax returns are due on April 15. Deadlines for state tax returns vary, but the majority are April 17. Double check your state’s deadline to avoid the penalties of filing late.3. Is there a fee to file taxes?No. As long as you made less than $57,000, you can use Free File, the IRS’s free online tax prep and filing service. If you aren’t eligible for that service but plan to prepare and file your own return, check out Free File Fillable Forms.4. Where do I go for tax help?The IRS has a lot of information available online, including an interactive tax assistant, though it can be intimidating to read through that material yourself. If you have questions about your situation, consult the Financial Aid Office at your school and ask for guidance on filing taxes as a student. If they can’t help you, then try contacting your local IRS office. You can also file your taxes by using tax prep software like TurboTax or H&R Block, which walk you through the process and have extensive help resources. (TurboTax even offers SnapTax for iOS and Android, which completes tax forms for you after you snap a photo of your W-2.)5. If I file as an individual, am I eligible for any tax credits?Yes, you’re eligible for the American Opportunity Tax Credit, which is worth up to $1,500 in savings. It’s available during your first two years of college, and you can claim this credit twice. You’re also available for the Lifetime Learning tax credit, which is worth up to $2,000 in savings. You can claim this credit as long as you’re an enrolled student – undergraduate, graduate, or professional. Unfortunately, you can’t claim both credits in the same tax year.6. Are my scholarships taxable?Let’s say you’ve used NerdScholar’s scholarship search tool and won a handful of scholarships totaling $10,000. That money is not taxable if you meet the following requirements: 1) you’re a candidate for a degree at an eligible educational institution; 2) you use the scholarships to pay for qualified educational expenses; and 3) it doesn’t represent payment for teaching, research, or other services required as a condition for receiving the scholarships money. Qualified educational expenses include tuition, fees, books, required supplies or equipment, and so on. They don’t include room and board, travel, equipment not required of all enrolled students, research, and so on. As long as you use scholarships for tuition, fees, or books, then you don’t have to report this income to the IRS. If you have questions, consult to these IRS guidelines.7. I have a work-study job. Is that income taxable?Yes. Work-study money is part of a financial aid package, but you’re earning money for services. Most schools will withhold the proper taxes each time they pay you, but it’s your responsibility to make sure. If your income hasn’t been taxed properly, then you may end up owing the government money. Talk to your financial aid office or your supervisor to clarify.
ID del proyecto: 9438279

Información sobre el proyecto

15 propuestas
Proyecto remoto
Activo hace 8 años

¿Buscas ganar dinero?

Beneficios de presentar ofertas en Freelancer

Fija tu plazo y presupuesto
Cobra por tu trabajo
Describe tu propuesta
Es gratis registrarse y presentar ofertas en los trabajos
15 freelancers están ofertando un promedio de $304 USD por este trabajo
Avatar del usuario
Hello, I understood the initial scope of this project. Although i want to discuss further this job in order to prepare the final concept for this project. After Complete discussion over the call or in chat, i will prepare following things for you - Technical Project Proposal - Flow chart for this Project - Execution plan (Step by step procedure with explanation how and at what that we are going to execute a particular task)
$257 USD en 10 días
4,8 (44 comentarios)
6,5
6,5
Avatar del usuario
I want to discuss this project with you further, let me know the best suitable time for you to schedule the meeting, Feel free to message me at any time, i used to be online 14 hrs in a day on this website so probably you will get a quick response from my end.
$257 USD en 10 días
5,0 (5 comentarios)
4,3
4,3
Avatar del usuario
Could do it given enough time.
$300 USD en 10 días
0,0 (0 comentarios)
0,0
0,0

Sobre este cliente

Bandera de ALBANIA
Albania
0,0
0
Miembro desde ene 23, 2016

Verificación del cliente

¡Gracias! Te hemos enviado un enlace para reclamar tu crédito gratuito.
Algo salió mal al enviar tu correo electrónico. Por favor, intenta de nuevo.
Usuarios registrados Total de empleos publicados
Freelancer ® is a registered Trademark of Freelancer Technology Pty Limited (ACN 142 189 759)
Copyright © 2024 Freelancer Technology Pty Limited (ACN 142 189 759)
Cargando visualización previa
Permiso concedido para Geolocalización.
Tu sesión de acceso ha expirado y has sido desconectado. Por favor, inica sesión nuevamente.