I’ve only recently joined the working force, and I am still not sure of this entire concept.
I know I am supposed to go to an accountant and show him a slip from my job for the returns, and also slips from my stocks that show all the net changes.
What I don’t understand is \*why\* I receive a certain amount after doing all of that.
In: 8
Assuming you are in the US:
1) You don’t need to pay an accountant if you are just a normal W2 worker with some stocks. If you are a 1099 or business owner then maybe it would be wise. But you can use mostly free sites like FreeTaxUSA to do your taxes pretty simply. You’ll get 1099 forms from both your job if W2 and your stock brokerage, and you either upload those documents or enter in the values in the boxes, and then go through the yes/no for asking about certain deductions/credits and you are done.
2) The goal should be to not get a tax refund. You get those when you pre-paid too much in taxes, as maybe you are a W2 worker and you filled out your W4 incorrectly. Now, there are deductions and credits for a ton of stuff, but hopefully your job is withholding a proper amount. If 1099 or business owner then you have quarterly estimated taxes that you should be paying.
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