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| Budget and Taxes Do you feel that raising taxes will help solve the debt of the United States? Are you a fan of Reaganomics? |
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| Citizen ![]() Join Date: Jan 2005 Location: berkshire, ma Posts: 127
| Standard or Itemized deductions In my highschool "economics and money" class, I have learned a lot about the best way to do your taxes. Some people just submit their income and select standard deductions without even checking to see if itemized deductions would save you more. I selected standard deductions considering I was living with my parents for some time but now I have a mortgage. Since I have a mortgage and other qualified deductions, itemized deductions is the way to go for me considering it saves me more than standard deductions now. You guys pay close attention to your taxes??Pretty interesting stuff if you know what your doing. Well I'm just learning "I am not a member of any organized party - I am a Democrat" -Will Rogers | |||||||||||||||||||||
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| Website Owner Join Date: Jan 2005 Location: Taxachusetts Gender: ![]() Posts: 5,504 Country: ![]() Thanks: 12
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| Learned about this stuff early in the semester. It's good to know how to manage your money and taxes. You can save thousands every year! These days you have software like Quicken that will basically make it simple to manage your finances. I've played around with the software but I'm going to wait for the day I start actually making some good money. haha | |
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| Beer Man Join Date: Jan 2005 Location: stuck in the middle Posts: 3,410 Country: ![]() Thanks: 99
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| Any of the tax software should walk you through that and then pick whichever way gives you the bigger return. I've used turbo tax since 1999 and it's never steered me wrong. I used to have my cousin check them over (he's a CPA) and he never found anything it missed. "We could not now take time for further search or consideration, our victuals being much spent, especially our beer." - William Bradford Clowns to the left of me, Jokers to the right..... Now offering premium membership for only $25.00!! Click here to get started.! | |
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