Comments on: Tax Forms — It’s what’s for dinner!

By: Miranda

Miranda — Sat, 17 Jan 2009 16:40:01 +0000

Itemize!
It helps that I’m in school and we have to pay everything out of pocket.
It also helps that I only worked part time, and had no health insurance, so my medical stuff adds up pretty quickly.
Basically, filing as independent, making no money, and going to school helps to get a pretty good tax return, but I don’t suggest it, unless you really, really, really, REALLY want to go to school.

By: Don

Don — Thu, 15 Jan 2009 16:10:23 +0000

I don’t know which is better,,,,,, having so much income that you have to file a tax return, or living on so little income, as I do, that no filing is required.

By: Nicki

Nicki — Tue, 13 Jan 2009 02:05:48 +0000

Good to know. Thanks sweetie!

By: Kat

Kat — Tue, 13 Jan 2009 01:56:41 +0000

Not everyone can take advantage of itemizing; the standard deduction ($10,900 for MFJ/2008) is often more advantageous for them. One thing you MAY not know is that, if you're a home owner who doesn't have quite enough to itemize, you are allowed to deduct up to $1000 (MFJ) of your state/local real estate taxes right along with the regular standard deduction... Kat´s last blog post: EXACTLY!!!

By: Nicki

Nicki — Tue, 13 Jan 2009 01:27:51 +0000

Oh yeah, that too. Thanks for stopping by!

By: caltechgirl

caltechgirl — Tue, 13 Jan 2009 01:23:37 +0000

I totally itemize. But it only makes sense for us because of the huge interest deduction from our mortgage. caltechgirl´s last blog post: Mission Accomplished