Tax Refund Education
Question: Am I elegible for Education Tax Refund?
Im a little confused. I am a single parent pensioner who is studying full-time at TAFE. I am 21yrs old. I am eligible for Education tax refund HOWEVER I did not pay any tax this year, do you have to pay tax to be eligible or is it like an extra payment for students? I’m very confused as I have bought a laptop and tafe accessories this year
Answer: Unfortunately you are not eligible for the Education Tax Refund. The refund is only available for education expenses of dependent children attending primary school or high school.
A bad analysis on the Education Tax Refund
Tax Refund Australia
Question: can someone who doesnt work but owns an investment property still get tax benefits?
my parents own an investment property. my dad works, my mum is on a disability pension. they just did the first Tax Refund since building the house. dad got back a total of $3,800 and mum got nothing. the tax agent said she doesnt get her 50% as she doesnt work. this doesnt seem right to me, she is missing out and getting nothing but the loan is in both names. also, the property cost $229,000 shouldnt they have got more back, given the interest alone they have paid is $10,000? and the depreciation on the stove, carpets etc? also, they should have got 5% toward cost of building? plus rates and taxes, legal fees, house insurance etc? it doesnt seem to me as if they got enough back and mum got nothing! does this seem right? what more would they be entitled to? they arent coming out ahead at all, more like a loss to me!! should they enquire about the refund? have it reviewed? does this sound right to you? we are in australia
Answer: Unfortunately in Australia this is right.
Because your mum doesn’t pay tax she has nothing to claim deductions against. Also has she told Centrelink she owns an investment property? She should do this soon so they can adjust her payments.
You cannot claim the cost of the property only any improvements you do to it. The deductions will go against any rent you received from it e.g. If you get $1 a week for the property (this is classed as income) & pay $0.50 for a new stove (this is a deduction) you will only have to pay tax on $0.50 left over. Any rent you earn from this property is classed as income on which you must pay tax.
In the long run having an investment property is a good thing as this is saving for their retirement.
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E Tax Australia – Missed Tax Refunds ?
Education Tax Refund Expenses
Question: filing 2007 tax returns?
I just want to make sure I understand everything regarding the AMT. You can file/get refund in mid Jan. if you DON’T use one of the following 5 forms (Education Credits, Residential Energy Credits, Child and Dependent Care Expenses for Form 1040A Filers, Mortgage Interest Credit, District of Columbia First-Time Homebuyer Credit). If you DO use one of those, they expect to be able to process those around Feb. 11.
Am I correct?
Regarding the child care expense, is that the form for when you pay for child care (day care) and can get reimbursed some of it?
I normally do my taxes on the first day they accept them, but since I have 2 children in daycare, I think this means I have to wait……right?
Answer: Your understanding is correct. The IRS has the programming already corrected for the rest of the forms for the last-minute changes that Congress made.
As to the child care, it only affects people filing a 1040A. You could get around that by filing a form 1040, which you could file as soon as you have all your info, or efile on 1/14. So no, you don’t really have to wait – just be sure to use the 1040 and not the 1040A form. If you are allowed to use 1040A then you can use 1040, there will just be more lines on the form with nothing entered onto them.
Loud Voices of Dissent in High Stakes County Debate
Schools: Fewer Teachers, More School Taxes if Mangano Plan Passes County Executive Edward P. Mangano campaigned for and won his current position with a clear promise to lower spending and taxes for Nassau. The day draws near when he must deliver, arriving at a balanced budget for 2011 without raising taxes or increasing the deficit. This has led to painful proposals, drawing protests on extreme …
Recovery: Education Tax Credit -Claim It (Students) (ASL, Captions & Voice-over)
Tax Refund Education Expenses
Question: Why is our Tax Refund so much less for 2008 than 2007?
2007’s refund situation:
Husband lived in another state for 1/4 of the year
I was in school for 1/2 of the year
We got married in June.
His moving expenses that we could write-off were $1000
I qualified for one of the education credits (dont’ remember which one)
We both have student loan payments that we can deduct
Both claimed 0
Husband witholds and extra $10 every pay
We got aprox. $3000 back2008’s refund situation
We bought a house
We both have student loan payments that we can deduct
Witholding is the same
I make slightly more than I did last year
Our refund is looking to be aprox. $650I know we should strive to have a $0 refund… but since we haven’t changed our situation, I figured our refund would be about the same as it was last year. Any ideas?
Answer: While you made slightly more this year it may have been enough to bump your husband and yourself into a higher tax bracker.
You also were able to claim a tax credit in the year before.
Families miss out on education tax break
Thousands of families missed out on $400 million in tax benefits last financial year because they were unaware they could claim education expenses.
Recovery: Education Tax Credit-Claim It-Parents January 10
Tax Married Filing Separate
Question: does filing separate and married on your tax returns affect bankruptcy proceedings?
on my tax returns i marked married filing separate would it have been better to file married joint or does it not really matter.i am how ever filing joint on my bankruptcy.
Answer: No.
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Requirements of a Common-Law Marriage | Family Law