Welcome to Jackson Hewitt, how may I help you today?
I need someone to help me with my income taxes. Then you have come to the right place. Do you have your W2 with you?
I have two of them, one from each job. Ok, if I can just see those I can get started on your taxes.
This is the first year I have filed taxes, can you tell me a little about it? Well, with any job that you work, some of your income is taken out of every paycheck.
That is the Federal and State that I see on my checks, right? Correct. Every job will take money out for Federal taxes, but not every state withholds state taxes.
But if I have already paid taxes by having them taken out of my check, why do I need to do it again? At the end of every year, you need to file taxes to see if you paid too much or too little.
What happens if I paid too much? Then you would get a refund from the IRS for the amount that you overpaid.
So if I did not pay enough, then I would have to pay the difference back to the IRS? That is right. Now, do you have any dependents?
No. Does that make a big difference? Many times you can receive a credit for each dependent you have.
And a credit would mean either paying back less or getting a bigger refund, right? Exactly. Are you going to school?
Yes, I go to school part time. Do you pay for all of your school expenses or do you have federal aid?
I pay for my own tuition and books. It looks like you will be able to get a refund of about $1000 from your federal taxes, but you will have to pay $200 into your state taxes.
So after I pay my state taxes, I will $800 left over? That is what it looks like when I fill out the paperwork.
Very good! Thank you for your help.