I need your TAX help..ASAP!


Suge

Suge

The Phat Mack
I have a serious tax question.


I am a non factor when it comes to taxes. I am single, and have no dependants. And only 1 W-2 to deal with. Is there any reason why I shouldn't keep doing my taxes Tele-file. Or are there some serious tax breaks that I may be missing out on?

I don't own a home, and this past year I was back in school, so I won't get that student loan interest thing either. Let a brother know.....so I can go ahead and get this tax mess out of the way!
 
I don't see why you can't do Tele-file unless they have a maximum income cut-off amount. *shrugs shoulders*
 

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I am not against tele file. I was just trying to see if there were some tax breaks that I may be eligible for that I am over looking!

Now shrugg your shoulders at that!
 
It seems you don't qualify for the best itemized deductions... Go ahead and telefile and get your check.....
 
Well I can't even get excited about that, I don't get that big tax refend check.......:(
 
Originally posted by Suge
I have a serious tax question.


I am a non factor when it comes to taxes. I am single, and have no dependants. And only 1 W-2 to deal with. Is there any reason why I shouldn't keep doing my taxes Tele-file. Or are there some serious tax breaks that I may be missing out on?

I don't own a home, and this past year I was back in school, so I won't get that student loan interest thing either. Let a brother know.....so I can go ahead and get this tax mess out of the way!
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Suge,

You are overlooking the deduction/credit for being enrolled in school. Form 8863 allows you to take the lifelong learning credit.
It should help you some.

Also, if you itemize, you can claim the mileage associated with going to class. I noticed you said you did not own a home, but if you had deductible expenses that's greater than the standard deduction for Single, then you should look at itemizing.

Some things you can claim:

Your medical expenses that exceeds 7.5% of your adjusted gross income. This includes doctor visits, dental visits, prescription drugs, health insurance, dental insurance.

Your state income taxes that you paid (Florida may not pay state taxes, I'm not sure)

Your property taxes (even a portion of your vehicle registration fees might be deductible)


Charitable contributions...Do you tithe to your church?
Donation of clothing or old furniture to the salvation army.

Casualty losses that were not reimbursed by your insurance company (you will have to attach a copy of the police report or claim estimate).


On all the other things you do not need a receipt (unless you are audited)

Holla at me if you need more info!


mdwatsontaxservices@yahoo.com

(Sorry Kenn)
 
Exactly what MIke Bigg said...

Get Kiplinger's Tax Cut... it is less than 20 bucks...you can file online and still get your money soon!

Get it from the software section at Wal-mart...

It will print your farms out and everything..It will ask you all the necessary questions to be sure you can/can't claim extra deductions..it will automatically choose your form for you based on your answers!


:)
 
Originally posted by Ms. Jag4Jag
Exactly what MIke Bigg said...

Get Kiplinger's Tax Cut... it is less than 20 bucks...you can file online and still get your money soon!

Get it from the software section at Wal-mart...

It will print your farms out and everything..It will ask you all the necessary questions to be sure you can/can't claim extra deductions..it will automatically choose your form for you based on your answers!


:)
Click to expand...


Hey Mike, man come get your wife. She's hurting my bizness. I was gonna charge Suge like a dead car battery!

How can I afford to pay for GT's room in New Orleans if I can't make money doing taxes.
 
Originally posted by Suge

Now shrugg your shoulders at that!
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Looka here buddy, I was shrugging my shoulders as a gesture to say I don't know....I was tryna help you out.
 
Originally posted by Suge
I don't own a home, and this past year I was back in school, so I won't get that student loan interest thing either.
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Suge,

Wanted to let you know that you don't have to itemize in order to claim the credit on form 8863. Also, if you paid interest on your student loan you can still claim it regardless of whether you were in school or not (I suspect you mentioned that you couldn't claim it because you got an in-school deferment and made 0 loan payments...In that case you are correct)
 
Thanks Trick...errrr I mean Mike Bigg. I may check into that 8863 form and what not.

That itemizing won't help me much this year though. But I'll keep that in my back pocket for future refernces!

Hey Kellis.....shrug these!

:lmao:
 
MikeBigg, count that free advice you gave SUGE as community service.
:) I'm very proud of you.

Anyway, I did all that itemizing stuff last year and still came out horrible. My conclusion is it just depends on your income.
 
I don't think you can claim all those KMA's you have sent out............

Originally posted by Ms. Jag4Jag
Exactly what MIke Bigg said...

Get Kiplinger's Tax Cut... it is less than 20 bucks...you can file online and still get your money soon!

Get it from the software section at Wal-mart...

It will print your farms out and everything..It will ask you all the necessary questions to be sure you can/can't claim extra deductions..it will automatically choose your form for you based on your answers!


:)
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Mrs. Evans,

So how much are you gonna charge a brother for computer time ? If it's less than the electronic filing I'm going to be doing, we can come to an agreement :) (as long as you throw in some of your cooking ;))
 
What Mr. Biggs sed to the fullest up there ^^^^^^^^ (talking about the other exemptions you can claim).

Also, if you relo'd (relocated) more than 50 miles (It may have changed this year, but, I do recall it being 50 recently) from your prior residence to a new residence for your NEW job, you can claim 100% of those relocating expenses. I don't have the form # in my head right nah, so... :D
 

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Originally posted by Ms. Jag4Jag
Phatback: See Mr. Evans

Panthro: Can you claim it if the company paid it? :D
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No, but you can claim the difference if the amount paid by the company is less than the actual total expenses.
 
Originally posted by MikeBigg


No, but you can claim the difference if the amount paid by the company is less than the actual total expenses.
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What Mr. Biggs sed. Also, LOL yeah, you gone claim it alright. :emlaugh: It's considered untaxed income, therefore, be prepared to <b>PAY TAXES ON 100% OF THE COMPANY SPONSORED $$$$$ TOWARDS THE RELOCATION</b>. :( Seriously, you'll be paying taxes on the relo expenses that were provided by the corporation for they (IRS) considers this untaxed income ( :confused: ). The times I relo'd on the corp (meals, temporary lodging, storage, personal items txferral, etc...), I was looking like this during tax season----> :smh:. You'd be surprised how much tax money is generated during a 4-6K$ move that you'll end up owing.
 
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