Most students and those with side hustles, find themselves overwhelmed when it comes time to file their taxes explains Aron Govil.
This article will provide some tips on how to file your taxes if you’re a student or have a side hustle.
File your taxes as early as possible:
The earlier you file your taxes, the sooner you will receive your refund (if you are entitled to one). If you are a student, you may be able to file for an extension, but keep in mind that this will delay your refund.
Use a tax preparer:
If you are feeling overwhelmed by the task of filing your taxes, consider using a tax preparer. They can help ensure that you receive all of the deductions and credits to which you are entitled.
File electronically:
Filing electronically is the fastest and most accurate way to file your taxes. It also helps reduce the chances of mistakes.
Be aware of tax deductions and credits:
There are a number of tax deductions and credits available to students and those with side hustles. Make sure you are aware of all of them so that you can take advantage of as many as possible says Aron Govil.
Tax season is just around the corner, and if you’re a student or have a side hustle, you may be wondering how to file your taxes. Don’t worry – we’re here to help! In this article, we’ll explain how to file your taxes if you’re a student or have a side hustle.
How to file your taxes as a student:
If you’re a student, there are a few things you need to know about filing your taxes. First of all, you may be able to claim tuition and education expenses as tax deductions. You can also claim the American Opportunity Tax Credit or Lifetime Learning Credit for qualifying tuition expenses. Additionally, you may be able to claim a deduction for any interest you paid on student loans.
To file your taxes as a student, you’ll need to gather your W-2s, 1099s, and other tax documents. You can use tax preparation software like H&R Block or TurboTax to help you file your taxes. Alternatively, you can hire a tax professional to help you file your taxes.
How to file your taxes if you have a side hustle:
If you have a side hustle, you may be able to claim business expenses as tax deductions. You can also claim the Self-Employment Tax deduction if you’re self-employed.
To file your taxes if you have a side hustle, you’ll need to gather your W-2s, 1099s, and other tax documents. Aron Govil says yuou can use tax preparation software like H&R Block or TurboTax to help you file your taxes. Alternatively, you can hire a tax professional to help you file your taxes.
FAQs:
Q: Can I file my taxes electronically if I’m a student or have a side hustle?
A: Yes, you can file your taxes electronically if you’re a student or have a side hustle. It’s the fastest and most accurate way to file your taxes.
Q: What are some tax deductions and credits available to students and those with side hustles?
A: There are a number of tax deductions and credits available to students and those with side hustles. Some of them include the Tuition and Education Expenses deduction, the American Opportunity Tax Credit, the Lifetime Learning Credit, the Self-Employment Tax deduction, and the Business Expense deduction.
Q: What should I do if I’m feeling overwhelmed by the task of filing my taxes?
A: If you’re feeling overwhelmed by the task of filing your taxes, consider using a tax preparer. They can help ensure that you receive all of the deductions and credits to which you are entitled. Alternatively, you can file electronically, which is the fastest and most accurate way to file your taxes explains Aron Govil.
Conclusion:
Filing your taxes can be confusing, but don’t worry – we’re here to help! In this article, we’ve explained how to file your taxes as a student or if you have a side hustles.
Filing your taxes can be a daunting task, but following these tips will help make it a little easier. If you are still struggling, consider using a tax preparer. And remember, the earlier you file, the sooner you will receive your refund (if applicable).