Tax Question. I really need opinion
- Thread starter .Hack
- Start date
Alright I talked to some CPA consultants and they said I can file it and still be a dependent 
.
Now here's the new question. How much do you guys usually pay on average? I have one guy charging me $200/hr and then another one charging me $26/hr. I want to get a good ass ROI.
Plus rep to everyone who helps after I get 24hr shit taken off
. Now here's the new question. How much do you guys usually pay on average? I have one guy charging me $200/hr and then another one charging me $26/hr. I want to get a good ass ROI.
Plus rep to everyone who helps after I get 24hr shit taken off
*Most* insurance companies will only cover dependents. So your parents would have to be able to claim your exemption in order to maintain insurance coverage for you.
There are several conditions that have to be met in order for them to be able to claim you. You meet the relationship and age tests since you are their child, under 24 and a full time student. The only issue I see is your income. In order to claim you as a dependent, your parents would have had to have provided more than half of your support for the year.
If you provided more than half of your own support, you get your own dependency exemption, but you'll most likely lose the insurance.
There are several conditions that have to be met in order for them to be able to claim you. You meet the relationship and age tests since you are their child, under 24 and a full time student. The only issue I see is your income. In order to claim you as a dependent, your parents would have had to have provided more than half of your support for the year.
If you provided more than half of your own support, you get your own dependency exemption, but you'll most likely lose the insurance.
If you are making that much money, and you are concerned about being dropped from theirs, buy your own insurance. If you are under 30 it shouldn't cost you more than $200.
And tell them what you are making.
And tell them what you are making.
check with your university for student health insurance.
it's flippin cheap as far as health insurance goes, and you might even lower your parents' premiums once you're not under their policy, so that might help offset their tax deduction loss.
Hi - my First post here - I am actually a CPA by profession (and an internet marketer by choice) -
I dont think you should value the CPA / Professionals advice necessarily by the hour. Most CPAs should be willing to answer your questions when you select them to prepare your taxes.
And, you should be able to get a pretty firm estimate of the total cost before you select the CPA. Most have a good idea about how much time it will take to prepare your return (based on the schedules they will fill out in their software), and should be able to quote a firm price.
Base your choice on referrrals (they may have a list of a few clients in similar industries you could talk with, clients that stay for a few years) .
Check : www dot Pasba dot org , which is a good professional organization of CPAs and EAs (Enrolled Agents) who are liscensed to prepare taxes in your state.
Don't bother with an unenrolled preparer, or a franchise operation like HR Block... They are not cheaper.
But you should expect to pay between $200 - $500 for your return preparation with a CPA, and to get your occasional questions anwered.
Good luck
I dont think you should value the CPA / Professionals advice necessarily by the hour. Most CPAs should be willing to answer your questions when you select them to prepare your taxes.
And, you should be able to get a pretty firm estimate of the total cost before you select the CPA. Most have a good idea about how much time it will take to prepare your return (based on the schedules they will fill out in their software), and should be able to quote a firm price.
Base your choice on referrrals (they may have a list of a few clients in similar industries you could talk with, clients that stay for a few years) .
Check : www dot Pasba dot org , which is a good professional organization of CPAs and EAs (Enrolled Agents) who are liscensed to prepare taxes in your state.
Don't bother with an unenrolled preparer, or a franchise operation like HR Block... They are not cheaper.
But you should expect to pay between $200 - $500 for your return preparation with a CPA, and to get your occasional questions anwered.
Good luck
I think your dad might be trying to claim you as a dependent. Kids are a huge write off. I just filled out insurance form for myself the other day, no where does it ask me about my income, nor did it ask for my wife & kids.
You might also want to go to one of the forums at Intuit.com and post your question, they have a lot of CPA's and EA's that are on there...
Good luck & what part of VA?
Last edited: