As if final exams weren’t bad enough, most working college students face an added pressure when spring rolls around: filing taxes. While filing taxes is not as much of a hassle for broke college students as it is for more established professionals (college students have few, if any deductions to make) it still can be very difficult, as many students are still new to the whole concept. If you are a college student living in the Boston area, it doesn’t matter if you’re in the Brighton apartments, Northeastern University apartments or Allston apartments. You are going to need to get your taxes done, and you probably won’t have mom and dad to help you out this time. These tips should help to keep you on the straight and narrow:
Get a Head Start
Not doing anything for spring break? Start working on your taxes now! The last thing you need is to get to April 15th and still be scrambling to finish them up. If you’re heading home for spring break, take advantage of your parents’ expertise. If you’re going to be stuck in Boston College housing take advantage of the quiet and get those taxes out of the way.
If you aren’t claimed as a dependent, you might be able to make a deduction for your college tuition. There are all kinds of education tax credits available for students. These may even wipe out any taxes that you owe.
Figure out Residency Qualifications
If you are living in the Boston University apartments for part of the year and spending summers in another state, you’ll have two states trying to get their hands on your money. Take a little time to find out if you are qualified to be considered a resident in your home state.