Student Taxes in US

[KiAN]

As most people know, students get most of their State and Federal Taxes back when they do their taxes in the Spring. I have heard if you make too much money though, you are put into a whole new tax bracket and dont get nearly as much money back as if you only mad say $5000 for the year.

I was wondering if anyone knew how much money i could expect back this spring. I am a student and I will probably be close to $15,000 for the year. I have been told that if i make too much money i shouldnt expect alot of it back but I am not sure where that line is drawn. I will have put roughly $1,600 into my state and federal taxes.

if anyone knows, and could help me, i would really appreciate it. thanks a bunch!!!

[schope]

As far as im concerned, considering your situation you gonna be deported back to asia illegal boy.

[Jrahen]

die irl

[Money]

Lol If U Made 15000 This Year U Can Probably Expect Back Like $800-1800..depending On How Many U Claimed

I Think The Next Tax Bracket Is $250,000 A Year And Up...

[Kolar]

The figure Money stated sounds about right. I think the maximum federal return up here a student can get is something like 2,100.00$. Don't use some shitty place like H&R Block. I've only had problems with them filing as a student.

[KiAN]

yeah my dad does it online with turbotax for me or something. Its just that people keep telling me that if you make too much money, you it wont matter if your a student and you will only get a small percentage back like everyone else, rather than most of it like most students would.

[iKillburger]

Learn how tax brackets work

The tax brackets are actually a tiered system, which means that only the amount of money above each cutoff is taxed at the higher rate. For people filing as head of household in 2005, for example, the first $10,450 in taxable income is taxed at 10%, then money earned from $10,450 to $39,800 is taxed at 15%, and anything you earn from $39,800 to $102,800 is taxed at the 25% rate.

[Squeezer]

I got $451 on my tax returns last year.

[Soup du Jour]

Canadian reply:

In my experience, it's going to take a lot more than $15 000 get taxed heavily as a student. The taxes I paid last year were almost entirely returned come April. It might have had something to do with the numbers I reported though (i.e. $1500 ish on books).

[KiAN]

i can include my costs of books to maybe potentially get more money back?

[Liquid Blue]

As most people know, students get most of their State and Federal Taxes back when they do their taxes in the Spring. I have heard if you make too much money though, you are put into a whole new tax bracket and dont get nearly as much money back as if you only mad say $5000 for the year.

I was wondering if anyone knew how much money i could expect back this spring. I am a student and I will probably be close to $15,000 for the year. I have been told that if i make too much money i shouldnt expect alot of it back but I am not sure where that line is drawn. I will have put roughly $1,600 into my state and federal taxes.

if anyone knows, and could help me, i would really appreciate it. thanks a bunch!!!

I made a little over $15k last year as well, I went to H&R block and got $1800 back, 1500 federal and a little over 300 state

I had graduated from college in July though, so I don't really know how that affects your questions

[Money]

god im good.

[Soup du Jour]

i can include my costs of books to maybe potentially get more money back?

Sorry, I don't know specifics about the states returns but I'd guess that in general, the more you spend on school (or tell them you spend on school), the more the government is inclined to give you back.

ex. going part time in one semester merits less tax refund than going full time all year

[Stompa]

i can include my costs of books to maybe potentially get more money back?

I've never bothered with writeoffs so I could keep it simple and do a 1040EZ, but then again if your dad does your taxes....

Just pirate a copy of turbotax and fill out your tax information to see what you can expect back. Employers withhold different amounts. If you end up owing income tax then you can bust out the write-offs.

[DankNuggets]

I've never bothered with writeoffs so I could keep it simple and do a 1040EZ, but then again if your dad does your taxes....

Just pirate a copy of turbotax and fill out your tax information to see what you can expect back. Employers withhold different amounts. If you end up owing income tax then you can bust out the write-offs.

this, it's more complicated to fill out deductions, and they won't matter unless you've made an assload anyway. But if you've made 15k, you will be paying some taxes.

The figures that were quoted seem right about the brackets. But it completely depends on how much your employer withheld. You could end up owing a shit ton if they didn't withhold enough.