With student debt growing and becoming a burden to recent graduates, college students will want to take all the tax deductions they can to save money. Federal tax filing is very complicated and the information here provides just a few tips. Always seek advice from a tax professional or accountant before filing your returns.
Preparations before filing taxes
Before beginning the tax filing process, students and parents need to make a few decisions. If your parents live in one state and you attend college full-time in another but go home for the summer, you will need to determine which state is your primary residence. As each state has different qualifications for residency, both states could claim you as a resident. Read more