Help Please! W2?
siouxperwoman
Posts: 45
Hello,
I just got my W2 in the mail. I have never done taxes before. I don't know anything about taxes or how it works. If somebody could explain to me as simple as possible?
Thanks!
-Kayla
I just got my W2 in the mail. I have never done taxes before. I don't know anything about taxes or how it works. If somebody could explain to me as simple as possible?
Thanks!
-Kayla
0
Replies
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Sign up for H&R block, they make it really simple and it's free. It was my first time doing taxes this year too, and it was super easy. And more reliable than people trying to give you non-professional advice on the Internets. Good luck!0
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turbotax.com0
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If your folks can still claim you as a dependent, so them a favor and give it to them.
Otherwise, go to H&R Block and get their free, simple tax service.0 -
You can go to the IRS website and download a 1040 EZ. This form will let you write down the information from that W2. If that is all you have as far as income, you should be able to complete the form and submit it for a potential refund. The are free services that will file for you (and often free if you are just an EZ filer).
Resources:
IRS.gov
Turbotax.com0 -
If you've only had the one job and don't need to itemize all you have to do is download the 1040EZ form and follow the simple instructions. You'll find the info it asks for in the boxes of your W-2. When you're done have your mom, dad, or someone who knows a little about taxes check it over for you...0
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Welcome to the adult world. This is what you need to know about taxes!
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I work for H & R Block. If you have only that 1 W-2 and no dependents (children), any of our offices will file your federal return for FREE. All you will have to do is go to your local H & R Block office with a photo id, social security card and your W-2. Let them know it is your first time every filing taxes and they will talk you through it all. You may have to wait to be seen but it is usually about a 15 minute process once the tax preparer takes you to their area. Hope this helps you!0
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www.taxactonline.com - they will walk you through the whole thing, you just answer their questions, and the federal efile is free. State I believe there is a small charge, but you should be able to go on your state's site and efile for free there, once you have your completed federal form in front of you.0
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If I were you, I'd stick to the 1040EZ....much lower in calories and sodlum than the supersized 1040. :bigsmile:0
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Asking for tax help in these forums is like asking H&R Block for a diet plan.
For your own sake, since you are young and have never done this before, get some actual help. Getting your taxes done should be easy and cheap for you since it is a very simple form. Next year you will be able to do them yourself if you pay close attention.
Plus your W2 only has 4g of fiber, the rest is pure sugar and isn't part of your diet plan.0 -
Asking for tax help in these forums is like asking H&R Block for a diet plan.
For your own sake, since you are young and have never done this before, get some actual help. Getting your taxes done should be easy and cheap for you since it is a very simple form. Next year you will be able to do them yourself if you pay close attention.
Plus your W2 only has 4g of fiber, the rest is pure sugar and isn't part of your diet plan.
BAHAHAHAHA!!!0 -
Don't pay em... Just change your name, move a lot and don't kill people.0
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For a simple W2, I would do it online HRBLOCK.com. It will probably be free.0
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Sign up for H&R block, they make it really simple and it's free. It was my first time doing taxes this year too, and it was super easy. And more reliable than people trying to give you non-professional advice on the Internets. Good luck!
This!0 -
Asking for tax help in these forums is like asking H&R Block for a diet plan.
For your own sake, since you are young and have never done this before, get some actual help. Getting your taxes done should be easy and cheap for you since it is a very simple form. Next year you will be able to do them yourself if you pay close attention.
Plus your W2 only has 4g of fiber, the rest is pure sugar and isn't part of your diet plan.
OH MY GOSH! This is a forum for diet plans? I thought I clicked on the topic of "chit-chat, fun, and games".
And thank you SO much for this helpful information. I had no clue that THESE people on the diet forums aren't capable of providing me with basic information about taxes, seeing as how I have no clue what a W2 even is.
WOOFTA. Saved my life.
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I've used turbotax for years. super simple.0
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OH MY GOSH! This is a forum for diet plans? I thought I clicked on the topic of "chit-chat, fun, and games".
And thank you SO much for this helpful information. I had no clue that THESE people on the diet forums aren't capable of providing me with basic information about taxes, seeing as how I have no clue what a W2 even is.
WOOFTA. Saved my life.
0 -
Asking for tax help in these forums is like asking H&R Block for a diet plan.
For your own sake, since you are young and have never done this before, get some actual help. Getting your taxes done should be easy and cheap for you since it is a very simple form. Next year you will be able to do them yourself if you pay close attention.
Plus your W2 only has 4g of fiber, the rest is pure sugar and isn't part of your diet plan.
OH MY GOSH! This is a forum for diet plans? I thought I clicked on the topic of "chit-chat, fun, and games".
And thank you SO much for this helpful information. I had no clue that THESE people on the diet forums aren't capable of providing me with basic information about taxes, seeing as how I have no clue what a W2 even is.
WOOFTA. Saved my life.
1. Calm down.
2. Can you ask your parents or someone close to you for some tips? Individual taxes are very easy even if you have educational expenses. Sign up for H&R block individual tax return on the website. You can likely file for free unless you make a lot of money. It will walk you through it.
3. It's really not hard, so don't get all worked up.0 -
Asking for tax help in these forums is like asking H&R Block for a diet plan.
For your own sake, since you are young and have never done this before, get some actual help. Getting your taxes done should be easy and cheap for you since it is a very simple form. Next year you will be able to do them yourself if you pay close attention.
Plus your W2 only has 4g of fiber, the rest is pure sugar and isn't part of your diet plan.
OH MY GOSH! This is a forum for diet plans? I thought I clicked on the topic of "chit-chat, fun, and games".
And thank you SO much for this helpful information. I had no clue that THESE people on the diet forums aren't capable of providing me with basic information about taxes, seeing as how I have no clue what a W2 even is.
WOOFTA. Saved my life.
1. Calm down.
2. Can you ask your parents or someone close to you for some tips? Individual taxes are very easy even if you have educational expenses. Sign up for H&R block individual tax return on the website. You can likely file for free unless you make a lot of money. It will walk you through it.
3. It's really not hard, so don't get all worked up.
1. I don't like it when people post on a topic, just to be mean. Not cool.
2. I don't have parents or any other "elders" that I am able to confide in. If I did, I wouldn't be asking strangers.
3. And I wasn't looking for "how to" fill out taxes, I wanted to know ABOUT taxes. What is a W2? Do I have to file taxes? How do I tell by looking at the W2 if I have to file taxes? Why does the government take money and then give it back to me? I thought that money was for repairing roads and such?0 -
Asking for tax help in these forums is like asking H&R Block for a diet plan.
For your own sake, since you are young and have never done this before, get some actual help. Getting your taxes done should be easy and cheap for you since it is a very simple form. Next year you will be able to do them yourself if you pay close attention.
Plus your W2 only has 4g of fiber, the rest is pure sugar and isn't part of your diet plan.
OH MY GOSH! This is a forum for diet plans? I thought I clicked on the topic of "chit-chat, fun, and games".
And thank you SO much for this helpful information. I had no clue that THESE people on the diet forums aren't capable of providing me with basic information about taxes, seeing as how I have no clue what a W2 even is.
WOOFTA. Saved my life.
1. Calm down.
2. Can you ask your parents or someone close to you for some tips? Individual taxes are very easy even if you have educational expenses. Sign up for H&R block individual tax return on the website. You can likely file for free unless you make a lot of money. It will walk you through it.
3. It's really not hard, so don't get all worked up.
1. I don't like it when people post on a topic, just to be mean. Not cool.
2. I don't have parents or any other "elders" that I am able to confide in. If I did, I wouldn't be asking strangers.
3. And I wasn't looking for "how to" fill out taxes, I wanted to know ABOUT taxes. What is a W2? Do I have to file taxes? How do I tell by looking at the W2 if I have to file taxes? Why does the government take money and then give it back to me? I thought that money was for repairing roads and such?
Yes the Government does take and use your money for those things but it is decided how much you should pay the government by how much money you make. You pay less when you have kids and are married. I take it that you have no children or spouse that you will be claiming on your taxes so you will be paying the high end.
Everyone who earns more than (I think) $5,000 per year must file taxes. I'm not 100% sure that it the amount, you would have to check with a tax expert to find out. If you made more than that amount you must file taxes.
If you paid the government more than you have to (determined by how much you make and what kind of credits you are allowed to claim such as student loan interest) then you will get a refund. If you did not pay quite enough then then you will owe them.
The W2 form shows how much money you made for the year and how much you paid in taxes and social security etc. Eveyone who suggested H&R block as your best option for filing has the right idea since you're a first time filer. They will painlessly make sure it's done correctly so you can hopefully avoid being audited.
Hope this helped.0 -
Turbotax is extremely easy to use, but Id highly recommend contacting your parents or family to help you through the process0
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I've been doing taxes and financial advising for 20 years. Please feel free to PM me if you have any questions.
A W2 is an end of the year tax form that your employer sends out to all of their employees. It breaks down how much you made and how much was withheld in taxes for both federal and state. How you fill out your form will depend on a lot of factors. If you cannot be claimed as a dependant then you will file as single (assuming you do not have children and are indeed single) Depending on your income level you may be eligible for the EIC (earned income credit). This is a credit for lower income people. There is a maximum amount you can make before you are not eligible for the credit. That amount varies based on the number of dependants you have.
The government takes money from your paycheck for taxes. Sometimes you get some or all of it back and sometimes you owe them more. They take it out of your regular check to avoid people having a very large tax bill at the end of the year. If you are lower income or have a lot of deductions then you will likely get back everything you paid in and possibly even more than that if you get things like the EIC. If you do get back everything you paid in and don't expect any major income increases or other changes for the coming year you can go into your HR department, get a W4 form (you filled one out when you first started working for your company) and claim exempt. Then the government won't take that money out of your regular check. It will mean a smaller amount back when you file next year's taxes but you will get to keep your money rather than loaning it to the government.0 -
I've been doing taxes and financial advising for 20 years. Please feel free to PM me if you have any questions.
A W2 is an end of the year tax form that your employer sends out to all of their employees. It breaks down how much you made and how much was withheld in taxes for both federal and state. How you fill out your form will depend on a lot of factors. If you cannot be claimed as a dependant then you will file as single (assuming you do not have children and are indeed single) Depending on your income level you may be eligible for the EIC (earned income credit). This is a credit for lower income people. There is a maximum amount you can make before you are not eligible for the credit. That amount varies based on the number of dependants you have.
The government takes money from your paycheck for taxes. Sometimes you get some or all of it back and sometimes you owe them more. They take it out of your regular check to avoid people having a very large tax bill at the end of the year. If you are lower income or have a lot of deductions then you will likely get back everything you paid in and possibly even more than that if you get things like the EIC. If you do get back everything you paid in and don't expect any major income increases or other changes for the coming year you can go into your HR department, get a W4 form (you filled one out when you first started working for your company) and claim exempt. Then the government won't take that money out of your regular check. It will mean a smaller amount back when you file next year's taxes but you will get to keep your money rather than loaning it to the government.
This helped a TON!! Thank you 0 -
Asking for tax help in these forums is like asking H&R Block for a diet plan.
For your own sake, since you are young and have never done this before, get some actual help. Getting your taxes done should be easy and cheap for you since it is a very simple form. Next year you will be able to do them yourself if you pay close attention.
Plus your W2 only has 4g of fiber, the rest is pure sugar and isn't part of your diet plan.
OH MY GOSH! This is a forum for diet plans? I thought I clicked on the topic of "chit-chat, fun, and games".
And thank you SO much for this helpful information. I had no clue that THESE people on the diet forums aren't capable of providing me with basic information about taxes, seeing as how I have no clue what a W2 even is.
WOOFTA. Saved my life.
1. Calm down.
2. Can you ask your parents or someone close to you for some tips? Individual taxes are very easy even if you have educational expenses. Sign up for H&R block individual tax return on the website. You can likely file for free unless you make a lot of money. It will walk you through it.
3. It's really not hard, so don't get all worked up.
1. I don't like it when people post on a topic, just to be mean. Not cool.
2. I don't have parents or any other "elders" that I am able to confide in. If I did, I wouldn't be asking strangers.
3. And I wasn't looking for "how to" fill out taxes, I wanted to know ABOUT taxes. What is a W2? Do I have to file taxes? How do I tell by looking at the W2 if I have to file taxes? Why does the government take money and then give it back to me? I thought that money was for repairing roads and such?
Yikes.
Well, glad you got your situation worked out.
In the future, however, you may wish to include your answer to point #3 in your opening thread. Your topic was vague, and you are very defensive when people try to help with suggestions on where to go and how to file (a natural assumption given your original post), which does you absolutely no good in this situation as it just irritates you even more.
I would also suggest digging around IRS.gov and reading a little more about how taxes work. There's a lot of good information on there.0 -
I've been doing taxes and financial advising for 20 years. Please feel free to PM me if you have any questions.
A W2 is an end of the year tax form that your employer sends out to all of their employees. It breaks down how much you made and how much was withheld in taxes for both federal and state. How you fill out your form will depend on a lot of factors. If you cannot be claimed as a dependant then you will file as single (assuming you do not have children and are indeed single) Depending on your income level you may be eligible for the EIC (earned income credit). This is a credit for lower income people. There is a maximum amount you can make before you are not eligible for the credit. That amount varies based on the number of dependants you have.
The government takes money from your paycheck for taxes. Sometimes you get some or all of it back and sometimes you owe them more. They take it out of your regular check to avoid people having a very large tax bill at the end of the year. If you are lower income or have a lot of deductions then you will likely get back everything you paid in and possibly even more than that if you get things like the EIC. If you do get back everything you paid in and don't expect any major income increases or other changes for the coming year you can go into your HR department, get a W4 form (you filled one out when you first started working for your company) and claim exempt. Then the government won't take that money out of your regular check. It will mean a smaller amount back when you file next year's taxes but you will get to keep your money rather than loaning it to the government.
This is an excellent answer to your questions.0 -
Try making an appointment with your school's financial aid advisors. They should have some helpful information for you. The first time I filed taxes in college, the school provided information and help sessions where you could file online with someone nearby to ask questions.0
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Turbotax.com ....and welcome to the world of filing. Hope you enjoy your stay.:flowerforyou:0
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Wait, did Google send you here to ask this question?0
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Wait, did Google send you here to ask this question?
http://lmgtfy.com/?q=how+do+I+do+my+taxes+with+a+w20 -
Wait, did Google send you here to ask this question?
YES! I swear I was thinking this exact same thing. Does she not know anything about the internet either?0
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