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Now if I put in CF bulbs in my place, does that count as a energy-saving credit?
I'd say it should if your electric company billed you for the dammed things.
Now if I put in CF bulbs in my place, does that count as a energy-saving credit?
I'd say it should if your electric company billed you for the dammed things.
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REQUEST: Please do not show us the Flat Tax Cat. DO NOT WANT!!
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I just started preparing my taxes last night, and I only really qualify for the Education Credit. It was interesting. I noticed two different way of claiming some kind of Education expenses, one being the Lifetime Learning Credit and the other being the tuition and fees paid deduction. I tried both and the Lifetime Learning Credit got me a slightly better return than the deduction, however I apparently have to wait until Feb. 8th to file that because the \"form is not yet available\". Anyway, to anyone else filing, make sure to compare those two options, because one may get you more than another.
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#4 will be a lifesaver since my sons daycare is the second highest bill I pay every month.
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No, it specifically does not include CFL's (I just did mine in TurboTax last weekend and it actually said it does not).
I did, however, get $55 for my new front door, which I replaced not to save energy, but because I could no longer open it from the outside.
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Wow thanks I completely did not know about the Energy-Saving Credit and we bought new windows last year!
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Don't forget that if you had someone living with you all year or most of it who was not working or worked very little, and you provided more than half their support for the year, you may be able to claim them as a dependent even if they are not your child or even related to you. I was able to claim my partner while he was in grad school. Review the rules for deciding who qualifies.
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I'm not exactly clear on the #5 issue... in 2007 I worked as a temp starting in April before going full time in July and immediately contributing to their 401K. I'm sure I'm under $26K for the year, and I think I've contributed about $600 in that period to 401K.
However, my CONTINUED contributions until April 15th still count towards that savings sum, but my earnings DON'T count towards the income? (how does THAT work?!)
This is why I have people to do my taxes. This is way too difficult.
Actually, I'm curious about the IRA credit too -- I'm going to be opening a Roth IRA this week, but will my contributions made before April 15 count towards the 2007 or 2008 limit?
College students should look into the EIC credit. I know a couple students who qualified and got a few hundred extra. The catch is you can't be a dependent on your parent's taxes.
@omgyouresexy: Are you using a tax program? Turbo Tax will automatically choose which one gets you more money back.
I can has tax refund?
If I didn't make any contributions myself to a 401k, but my employer made a contribution for me, am I eligible for a Saver's Credit?
Another school loan tip, you can claim the interest paid on loans made too.
I just use one of the online tax filing services. It's free, so I stick with that. I tried both just because I was curious what the difference was, but I was surprised the credit gave me a higher refund.
And I looked into the EIC credit, but the impression I got (and what t he IRS website also told me) was that I had to be 25 to get that credit, and sadly I'm only 24. :(
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@omgyouresexy: Yeah, that's the same for me. You have to be Over 25 and under 65 to be eligible for the EIC credit... which sucks for people like me. I'm 21, completely autonomous from any living relative, and make ~32k a year. I have another 4 years before I can be eligible. wtf?
I LOVE the tax cat!!
Meooow!!