T Nation

Basic Tax Info

I’m about four weeks from graduating with a degree in computer science. I have been lucky enough in my job search these last few months to get hired in to a company already.

I’ve really only worked part-time for the majority of my life, or was paid under the table for work I’ve done. This will be my first ‘real’ job making ‘real’ money.

I know there is tons of rules, information, etc regarding taxes. I was wondering if anyone knew of a good resource for tax information that explains it so someone who doesn’t know that much about taxes can understand it. Something like a ‘Taxes 101’ to help out, or even if someone wanted to try explaining some things to me.

I basically know the tax brackets, but as for tax deductions, random things they take out of your check, etc I’m not so sure.

I’m from Michigan, and have a nice chunk of student debt to pay off too (pretty sure theres educatino deductions). Just trying to figure some things out so I’m not screwing something up and paying the gov more of my money than I really need to.

Thanks,
-DK

Take the H&R Block Tax Preparation Course. In Canada it’s $300 and takes around 3 months, at about 9 hours per week. After you complete the basic tax course (provided you work for them for at least one tax season) they offer more in depth courses for about $30.

Oh and congrats on the degree!

J.K. Lasser’s “Your Income Tax” is the best book you can buy tho get help with the in’s and out’s of taxes

What the hell kind of answer is that? The guy just took computer science–why would he want to take more classes and then have to work for H&R Block when he already has a job?

Just buy TaxCut (made by H&R Block) or TurboTax when you are doing your taxes. They will help out a great deal in letting you know what you owe, or what the government owes you.

[quote]MentalMuscle wrote:
What the hell kind of answer is that? The guy just took computer science–why would he want to take more classes and then have to work for H&R Block when he already has a job?

Just buy TaxCut (made by H&R Block) or TurboTax when you are doing your taxes. They will help out a great deal in letting you know what you owe, or what the government owes you.[/quote]

Ummm I didn’t say he had to work for H&R block. If he wanted to take the additional courses then he would be required to work for them for at least one season. But taking the basic course is not dependent upon employment. Seeing how DK is going to be graduating with a degree in computer science I doubt he would have any problem with a 9hr/week tax course. I just recommended the course as I was in the same situation as he was, and the course has definitely helped me.

You make it sound as if taking more classes is a bad thing.

Thanks for the suggestions but I was thinking more along the lines of tips like ‘make your DKPT Consulting a real business and you can deduct all your supplements and save money on taxes’ or general help like ‘you have your gross pay, it gets the income tax subtracted and then you find deductions to lower your taxes’(if thats even how it is).

Kind of a general explanation of how taxes work. Everyone I’ve talked to can’t really explain it to me and answer my questions.

I also agree classes aren’t a problem, you should never stop learning, espicially in computer science it would be foolish to think I wouldn’t have to take any more classes or learn anything else. Technology doesn’t stand still.