Expect almost massive changes in your life if you are a fresh college graduate, and this includes tax time as well. Southbourne Tax Group understands this new changes in your life, thus the following were made to help you get a refund during filing time, to save money as much as possible, and of course, to deal with your taxes better.
If you’re single and your modified adjusted gross income is below $80,000, then up to $2,500 of the interest portion of the student loan payments can be tax deductible. And for married person filing jointly, it should be below $160,000.
Searching for a job and its expenses can also be tax deductible but on certain conditions. You can’t deduct the expenses included in your hunt if you are finding a new job in a new career field or if you are working full-time for the first time. But if you’re moving to that new city for your first job then it could include major tax breaks.continue reading