Start your tax planning early!
As a busy college student, it’s easy to put off thinking about taxes until it’s time to file. That could cost you, however. You can only do so much about lowering your tax bill when you’re preparing your return.
To make sure you’re not paying more tax than you should, be sure to plan ahead.
Some tax areas that may affect you while you’re in college are: dependency issues, education credits, exclusions, and deductions, multiple state tax obligations, and the new health insurance mandates.