Get That Refund: College Tax Basics
It’s tax season, and if you’re in college, you might have cash waiting for you in the form of a refund. Let’s break it down.
Refund Eligibility
If you worked a part-time job, check your W-2 for withheld taxes. Filing your return might mean getting that money back. Forbes says, “Even students who earn minimal income can benefit from filing taxes.”
Credits = Cash Back
- American Opportunity Credit: Up to $1,000 refundable—even if you don’t owe taxes.
- Earned Income Tax Credit (EITC): Designed for low-to-moderate earners.
Avoid Common Mistakes
- Filing Too Late: According to Le Monde Financier, “Students who file in January often see refunds faster than those who wait.”
- Forgetting Forms: Keep track of W-2s, 1098-Ts, and loan interest statements.
DIY Filing
Tools like FreeTaxUSA or IRS Free File make the process simple.
Want a step-by-step video? Check out my channel: YouTube.com/ThePromoPlug. It’s packed with money-saving YouTube tutorials for students and tax savings video guides to make your filing process a breeze.
Tax season doesn’t have to be stressful—let’s get this money and secure that refund!
