How to File Taxes For the First Time Beginners Guide 2022
I’m going to go over what to do and how to do it.
First, I am assuming that you are making money as an employee. Second you are not being claimed by your parents.
We are going to go over a high level over
What documents to gather
Your option to actually prepare and file your tax return.
We pay income taxes to the government. The government requires payments throughout the year. If you are employed, then your employer will take money out of your paycheck to pay the government. If your employer does not pull enough money out, then you will have to pay the missing taxes. If they pull too much, then you will receive a tax refund.
Summary:
This is how much money you mad, this is how much you should send in, this is how much you actually sent in.
Step 1 gather your tax documents. A tax year runs January 1st through December 31 and you will receive you forms in January and February.
Most common tax forms
Job income- W2
Interest- 1099-INT
Stock buys and sells and dividends – 1099 B
Student loan payments - 1098 E tax deduction
Tuition – 1098 T tax credit
Mortgage interest and property tax – Mortgage provider will supply a 1098
You should receive all your documents by February 15. You can download all this forms from the websites.
Once you have all your tax document you can go online to a tax software or in person tax specialist.
Hope this help you see how to file taxes online! Enjoy!
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DISCLOSURE: We are not financial advisers. The ideas presented in this video are for entertainment purposes only. Although the information is researched and vetted beforehand, it may not be up to date at the time of viewing. Please do your due diligence and research on the topic. You (and only you) are responsible for the financial decisions that you make. irs free file program
How To File Your Taxes For the First Time Beginners Guide 🔥 2022
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