Taxes 2008

cdad2000

Hey everybody,

How can a single male get sum money back? No kids, no dependants, and i pay rent??

Silver Bullet

You typically only get a refund if you paid more tax than you owe. If you get a big refund every year, then you should go to your payroll department and ask them to let you adjust your W4.

HeroPsycho

There's simply too many variables for us to be able to tell you how you could get extra money.

In your case, your taxes are pretty straightforward, but I've found that taking my taxes to a tax professional has paid off pretty big for me. Anyone who has a complex enough tax return should seriously consider that instead of using tax software.

skrpune

do you do any work from home? If you have a dedicated home office space and work from out of your home, you can deduct a percentage of your rent. Do you have any other work expenses you can deduct? If you have any student loans, you can deduct the interest paid off your taxable income as well. I think you can also still make contributions to an IRA for tax year 2008...but that will cost you some money to save you some money on taxes.

However...if you don't have a lot of deductions and don't want to pay someone to do your tax return & calculate/itemize deductions for you, then it probably pays off to take the standard deduction & do a free online filing & do your taxes yourself.

Other than that, like HeroPsycho said it's hard to say what else you can do to reduce your taxable income without knowing some more details.