Filing Tax Return 101

Tax is a field for you to work in as an entire career tax is also a course that i teach over the course of 16 weeks so needless to say in an hour we're really only going to cover the surface of tax preparation but i plan to cover some really important surface areas including tax forms and actual tax calculations so if you're thinking wait a minute i did not sign up for that you can do this stay with me don't feel overwhelmed i just want to let you know i will actually show you some tax forms and we will do some calculations together and i want to do that because i want you to be comfortable enough to do your own tax return if you so choose so if you would like to do it utilizing the various softwares that are out there that is fantastic or you join today's webinar just to further your understanding with regard to tax but you're still going to have someone else prepare your tax return that's totally fine there's a lot of great people working in the world of tax and they have a passion for taxes they have a passion for helping people i just want to be sure you're comfortable with all the underlying principles i wouldn't want you to be overcharged for your tax preparation service but if you want to continue to service and visit your local tax advisor please feel free to do so now before we begin i wanted to cover just some general areas with regard to tax preparation and i'm going to point these out when we actually get to the tax forms so the first one i have there is who must file it's really based on the standard deduction so for some of you you might find that your income level the amount that you earn for the year is not large enough for you to even file a tax return and you might be thinking well why should i bother to even file a tax return well here's why maybe you don't have to file a tax return because you only earn 670 000 let's say for the sake of conversation but if you had some federal withholding taken out of your pay for the course of the year you'd be able to get that back when you filed your tax return now of course if you had a hundred dollars coming back you wouldn't want to pay