So its Tax Return Season.....

[mannyrs13]

Anyone know what the cutoff income is for returns?

 

[ItWasWritten]

Anyone know what the cutoff income is for returns?

It all depends on how much taxes you paid....

 

[muzikfrk75]

Be careful man. If that IRS demand letter hits your mailbox...

Then them wages get garnished...

 

[Sad Bunny]

Mine should be 2k-ish.

Knocking off credit cards.

2015 is the year l be debt free

Minus my car and my student loans

 

[Atlrocafella]

getting close to 2k back, clearing some CC debt, rebuild them savings, and leave the rest in checking and feel like Bill Gates for 24 hours

 

[Data-Hawk]

I'll probably get back about $100 if I'm lucky. Going towards paying off my sons braces.

 

[cook]

 

[muzikfrk75]

Note: The Tuition and Fees Deduction expired Dec. 31, 2013. You may claim it on your tax year 2013 or prior years' tax returns. Under current law, the deduction is not available for tax years after 2013.

 

[muzikfrk75]

An education credit helps with the cost of higher education by reducing the amount of tax owed on your tax return. If the credit reduces your tax to less than zero, you may get a refund. There are two education credits available: the American Opportunity Tax Credit and the Lifetime Learning Credit.

Who Can Claim an Education Credit?
There are additional rules for each credit, but you must meet all three of the following for either credit:

1. You, your dependent or a third party pays qualified education expenses for higher education.
2. An eligible student must be enrolled at an eligible educational institution.
3. The eligible student is yourself, your spouse or a dependent you list on your tax return.

If you’re eligible to claim the lifetime learning credit and are also eligible to claim the American opportunity credit for the same student in the same year, you can choose to claim either credit, but not both. You can't claim the AOTC if you were a nonresident alien for any part of the tax year unless you elect to be treated as a resident alien for federal tax purposes. For more information about AOTC and foreign students, visit American Opportunity Tax Credit - Information for Foreign Students.

http://www.irs.gov/uac/Tax-Benefits-for-Education:-Information-Center

 

[ItWasWritten]

Note: The Tuition and Fees Deduction expired Dec. 31, 2013. You may claim it on your tax year 2013 or prior years' tax returns. Under current law, the deduction is not available for tax years after 2013.

http://www.irs.gov/uac/Tax-Benefits-for-Education:-Information-Center

I dont know about the first quote breh....

I'm on taxact and here is what I filled out...

 

[muzikfrk75]

I dont know about the first quote breh....

I'm on taxact and here is what I filled out...

Weird, I got that quote directly from the IRS's site about deductions

Still can claim that American Opportunity Credit though, which I'll be doing since I'm in school

 

[Rich Spirit]

throw a lil in the savings, then use the rest to pay cc bills

 

[Blessings]

get more in holiday+performance bonus than my returns....straight to savings then plan on building a home theater

 

[lamont614]

my w-2 up but turbo tax not working

 

[Buckeye Fever]

nikkaz walkin into H&R Block like