working Teens and filing taxes...
8 years ago
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- 8 years ago
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Do teenagers have to file taxes if they have a job?
Comments (10)There are other things to consider if I remember correctly; like if the parents are claiming him on their return. If the parents claim him then he checks the box that someone else can claim him on their return. Looking at the 1040 EZ; it's #5 on the front of the return 5. If someone can claim you (or your spouse if a joint return) as a dependent, check the applicable box(es) below and enter the amount from the worksheet on back. Worksheet for Line 5 Dependents Who Checked One or Both Boxes Use this worksheet to figure the amount to enter on line 5 if someone can claim you (or your spouse if married filing jointly) as a dependent, even if that person chooses not to do so. To find out if someone can claim you as a dependent, see Pub. 501. A. Amount, if any, from line 1 on front . . . . . . + 300.00 Enter total â¶ A . B. Minimum standard deduction . . . . . . . . . . . . . . . . . . . . . B . 950.00 C. Enter the larger of line A or line B here . . . . . . . . . . . . . . . . . . C . D. Maximum standard deduction. If single, enter $5,700; if married filing jointly, enter $11,400 . D . E. Enter the smaller of line C or line D here. This is your standard deduction . . . . . . . . E . F. Exemption amount. If single, enter -0-. If married filing jointly and both you and your spouse can be claimed as dependents, enter -0-. only one of you can be claimed as a dependent, enter $3,650. > F . G. Add lines E and F. Enter the total here and on line 5 on the front . . . . . . . . . . G ....See Moree-file a smart way to do your taxes...irs-tt-19
Comments (13)I donÂt want to start a fight but I believe that efiling is "the way to go". IMHO, the fewer people that handle my return, the better. When you mail a return to the IRS, the first thing that happens is the information from your return is input into IRSÂs computers. If someone hacks into IRS computers, your information is there along with everyone elseÂs; plus you have exposed yourself to 2 additional potential problems. First, your return is handled by the Post Office. While I would like to believe that everyone in the Post Office is honest, I suspect that there might be a few dishonest folks who would love to get their hands on your return. Second, when you mail your return in and it is input into IRS computers, there is always a chance that the person inputting your information will make a mistake. They might transpose numbers, enter numbers on the wrong lines or even put information on the wrong Form or Schedule. One of the biggest messes I ever had to deal with in my time as a tax preparer was an instance of someone at the IRS putting information on the wrong form. It took well over a year to convince the IRS that they had made the error when entering the return into their computers. I do suspect that more and more forms are being scanned directly into IRSÂs computers so they are working to eliminate the potential for input errors. I worry about identity theft, but believe that efiling is better than mailing a return to the IRS. Efile your return, have your refund direct deposited in your bank account and you will have your refund in 8 to 15 days. Works for me....See Morepaying state taxes even though I don't live or work there yet?
Comments (7)talk with a cpa or accounting firm to do your taxes-- let them figure it out. i worked in one year for 2 different companies in a total of 5 states, with a total of 3 "home addresses" and in one state worked in 4 different cities with 4 different city income tax rates with in a regional income tax sharing district, but lived in a 5th city with a different tax rate that was not part of the tax district had a wife who worked for the same company in 2 states at different tax rates and had children before the end of the year. I bundled it all up and gave it to the tax guy recommended by my Certified financial planner. He only charged me $180 dollars tro do all the taxes for everything. I've dumped the CFP but still use the same CPA....See MoreDo you use files and file cabinets or something else?
Comments (9)DH and I have the paper organization divided. I keep the things like manuals, kid's papers, health insurance, etc. in small hanging folder baskets on top of a bookshelf. DH keeps track of monthly bills and investments, etc. He has a cubbie hole system on top of one of his desks and items are divided up into those cubbies. That way he can easily find a current bill, the stack of donation places when we review in December, etc. We each have home office spaces in this house, but in our previous house I just kept things on the top of the cabinet in the formal dining room. It wasn't pretty, but it was easy to use. We keep no paper in the kitchen. Paper and kitchen counters just don't mix for us. DH use to open the mail and then restack it right next to the stove. Harping on him didn't change that, so I gave him a couple of warnings that anything paper piled on my counters would be trashed. I told him that I didn't keep my pots and pans stacked on his desk, so using the food prep space for paperwork was making my life difficult. After having me throw away all of the bills and everything else in the pile, he finally decided he could make the effort to walk a few steps and put it elsewhere. We are not really filers. More specifically, organized pilers. Our files are things which we rarely need. My piles hang, his piles are cubbies. Works for us right now. Gloria...See More- 8 years agolast modified: 8 years ago
- 8 years ago
- 8 years agolast modified: 8 years ago
- 8 years agolast modified: 8 years ago
- 8 years ago
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