Groups : Tap the iShade Faculty!

Reply to Topic
  • Share:

What advice would you give to student taxpayers?

Posted on
Nicole Cooper
Nicole Cooper

In this article, an accounting professor gives tips to students filing tax returns. Filing taxes can seem scary, especially if it is your first time. What additional advice would you give to student taxpayers?

Replied on
Donna Michele Thomas
Donna Michele Thomas

For students attending school in a state other than their home state, check the filing requirements and the definition of a resident for their home state as well as the state where they are attending school.  Many may find that they may have to file tax returns in more than one state.  

Reply to Topic 
Replied on
Trisha Seelen
Trisha Seelen

Great advice, Donna. I'd also add that getting a head-start on your taxes is always a good idea. Make sure you do your "homework." Check ahead of time to see what forms you need or what types of deductions you may be eligible for. Giving yourself a head-start will pay off in the end...hopefully not just with satisfaction, but with a rebate!

Reply to Topic 
Replied on
Spencer Engel
Spencer Engel

Agreed that getting a head start is key. Not only because it will give you ample time to prepare your return and check for potential rebates, but for the more simple reason of saving yourself a ton of stress! Tax day falls very close to finals week for many colleges and universities, and take it from someone who made this mistake as a Mizzou undergrad once upon a time, you don't want to be stressing out about finals AND taxes at the same time.

Reply to Topic 
Replied on
Anna Forder
Anna Forder

The IRS actually provides a great resource for college students filing taxes. This site takes you through education credits, student aid and tax basics.

Here is another great resource for students. This will help you determine if you even need to file!

Reply to Topic 
Replied on
Brian Huber
Brian Huber

Best advice to student taxpayers: At least one year in your life, prepare your own tax return.  The result is better appreciation of tax professionals (and sometimes more disgust with the complexity of the tax code, but that's a different story).

Reply to Topic 

Respond

Have something to say?   Please Login or Register.

Login

Register