tag:blogger.com,1999:blog-6214008852340471685.post7656988890404795230..comments2023-10-22T08:47:47.207-07:00Comments on Kim's Kitchen Sink: Tax Time, Grown-Up StyleKimhttp://www.blogger.com/profile/12548150437127473109noreply@blogger.comBlogger7125tag:blogger.com,1999:blog-6214008852340471685.post-82970699253895605132008-02-14T07:46:00.000-08:002008-02-14T07:46:00.000-08:00Most of the free-file platforms will talk you thro...Most of the free-file platforms will talk you through stuff like that, but most folks our age don't have a lot of deductions (no big medical bills, no mortgage interest, no dependents, etc.). If all of your deductions together don't add up to the standard deduction (something like $5,300), you'll do better claiming the standard.English Majorhttps://www.blogger.com/profile/00276582833751319518noreply@blogger.comtag:blogger.com,1999:blog-6214008852340471685.post-74501522069619836712008-02-13T11:54:00.000-08:002008-02-13T11:54:00.000-08:00As far as I know, my only deduction will be my stu...As far as I know, my only deduction will be my student loan...Is there a list somewhere that lets you see what potential deductions you're missing out on? Without paying for a service, that is...I've seen a lot of commercials lately for tax-services that help you to not miss out on deductions, but they charge a lot.Kimhttps://www.blogger.com/profile/12548150437127473109noreply@blogger.comtag:blogger.com,1999:blog-6214008852340471685.post-66037704468245578232008-02-13T11:22:00.000-08:002008-02-13T11:22:00.000-08:00I free-filed last year without any kind of trouble...I free-filed last year without any kind of trouble. Is the student loan interest your only deduction? If so, it's probably better to take the standard (unless the interest deduction is a special, stand-alone one--I'm not sure).<BR/><BR/>BTW, my cheesecake recipe comes from Marcella Hazan--<I>Essentials of Italian Cooking</I>, I think. It's a very, very easy and forgiving recipe--it does call for a particular liqueur, but I always just throw in whatever's handy, and it's always turned out delicious. More importantly, the dough is a real <I>dough</I>, not a pate brisee, so you can manhandle it to your heart's content without worrying about melting the chunks of butter--one of the reasons I liked it as a beginner. Because this one was a Valentine's Day dessert, I also included shavings of El Rey chocolate. Yum. Anyway, I recommend it--give it a try! You should have that Marcella book anyway, if only for the gift-from-God tomato sauce (the one with the halved-not-diced onions).English Majorhttps://www.blogger.com/profile/00276582833751319518noreply@blogger.comtag:blogger.com,1999:blog-6214008852340471685.post-46648440771183587442008-02-11T14:16:00.000-08:002008-02-11T14:16:00.000-08:00I can't use the 1040EZ, because I plan to deduct t...I can't use the 1040EZ, because I plan to deduct the ~$500 I've paid in student loan interest in the last year...Kimhttps://www.blogger.com/profile/12548150437127473109noreply@blogger.comtag:blogger.com,1999:blog-6214008852340471685.post-21265182511019511632008-02-11T13:33:00.000-08:002008-02-11T13:33:00.000-08:00TurboTax freefile is fine for the fed, but there's...TurboTax freefile is fine for the fed, but there's only 21 states that allow you to freefile "the free tax alliance" or something like that, so check and see if CA is on there. otherwise you should save money by filing paper, which is a serious pain in the ass. (CO is not part of the freefile alliance, so i did that paper, and i don't know if you read my blog that day, but i was a bit angry.) If you claim your tuition or school loan repayments as expenses you immediately get transferred to the 1040, 1040A filing system, so be advised for State--its not the 1040EZ anymore! <BR/><BR/>The math is fairly straightforward (yes, you heard me right, Kristen "i majored in theater because i can't add" Gilmore said it!) if you have to do anything on paper. Turbotax freefile was 100% free for me, and while my refund is not hefty, i also didn't earn enough this year to fill a stripper's bra, even in $2 bills. <BR/><BR/>If you're already getting a refund, don't bother declaring your student expenses--they won't give you more back, and there's no way to get your social security back--its already gone to Iraq!Kristenhttps://www.blogger.com/profile/10613698397288879671noreply@blogger.comtag:blogger.com,1999:blog-6214008852340471685.post-22463560443500711172008-02-10T20:26:00.000-08:002008-02-10T20:26:00.000-08:00I say go for it. If I could, I would.In fact, I wa...I say go for it. If I could, I would.<BR/><BR/>In fact, I was all set to do my own this year, but then I discovered my dividends/interest from stock and declared extra income from freelancing, combined with my education expenses and savings account and multiple W2s made it just too hard.<BR/><BR/>I am meeting with an accountant Saturday. Kind of a bummer, but I had to. I got all the way through everything and had like five major questions no one knew how to explain. Sigh.<BR/><BR/>I console myself with the big fat refund I'll be getting for loaning the government my hard-earned money interest-free.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-6214008852340471685.post-39067260586536843082008-02-10T06:53:00.000-08:002008-02-10T06:53:00.000-08:00I used the free file before getting married and ha...I used the free file before getting married and having an AGI over the limit. It's fairly straightforward like Turbotax and whatnot. It's just free.TBonehttps://www.blogger.com/profile/14259247473108217021noreply@blogger.com