Filing Taxes for College Students

Without a doubt, for many people taxes are probably as fun as a broken Marry Go Round.

The bad news is a lot of people forget to file their taxes each year, many of whom are college students. Or worst, they remember and go last minute to H&R Block and get charged an arm and a leg.

The Tax Deadline for 2007 Personal Income Tax is Tuesday, April 15

Here’s some tax information:
Direct from Uncle Sam himself (the IRS) – Tax Information for Students’s list of 12 Tax-Filing Tips for College Students

MSN Money’s 12 Smart Tax Tips for College Students
The tip we like the most from these list is:

Talking to mom and dad about money is almost as difficult as talking to them about sex (and just about as much fun). But you need to know a little about their financial picture to plan who should claim you as a dependent and possibly use your education credit or deduction.

If your parents are paying more than 50% of your expenses, they are entitled to list you as a dependent on their taxes.

(MSN Money)

Best of luck in your tax filing journey! And here’s a Turbo Tax Rap…

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