Section A·Page 6
The University Daily Kansan
Wednesday, February 28, 2001
Tax Guide
Experts say students can do own taxes
By Laurie Harrison Special to the Kansan
It's tax time again, but relax — even the experts say taxes can be done at home.
"The trick of doing it on your own is reading all the lines and reading the instructions well," said Elgin Saathoff, employee at H & R Block, 2104 W. 25th St.
Saathoff has worked as a seasonal tax preparer for 14 years and recommended using last year's tax return as a guide for this year.
Saathoff said completing your own taxes usually took a while, and for students that means time away from studying.
But the advantage is that it's free. Saathoff said tax preparation businesses charged fees for every tax return completed. H&R Block charges a flat rate of $55, plus a fee for each tax return completed. Additional costs may include bank deposit fees and fees for each W-2 form used.
However, free tax preparation assistance is available on campus from the Volunteer Income Tax Assistance. The service, made up of University of Kansas law school student volunteers, assists students with residential and nonresidential tax forms.
Stacia Gressel, Derby law student and VITA volunteer, said the program's 35 volunteers would work two hours each week until Saturday, April 14. Gressel said students should attempt to file taxes themselves.
"It's not as hard as most people think it is," she said. "I think it's very intimidating for people. Generally, you don't have much that's very difficult to complete."
Gressel said worksheets and toll-free numbers accompanied each tax form to help with completing taxes. She said VITA would also check the math on returns that students had already completed.
Gressel has completed her own tax returns since 1994.
"It's really about sitting down and taking the time to read the instructions," she said. "If you put in the time, I would encourage students to do their own taxes."
Morgan McCollough, Manhattan senior, said he would start doing his own taxes once he graduates.
"I don't want to pay for it," he said. "I've had enough math. I should be able to figure it out." — Edited by Sydney Wallace
Edited by Sydney Wallace
Seeking guidance
Before the tax time rush, Jo Hardesty, director of Legal Services for Students, helps Marla Hallacy, Pittsburgh third-year low student, fill out her tax farms. Legal Services for Students, 148 Burge Union, provides free filing for students by appointment only. Photo by Selena Jabara/KANSAN
Some students can claim tax credits
Bv Erin Adamson
writer@kansan.com
Kansan staff writer
Taxes can be student-friendly. Students can even be reimbursed a portion of the cost of tuition and books or receive other helpful credits.
Jim Long, from the Bogner and Long accounting firm, 842 Louisiana St., said students should ask their tax preparers about several tax credits.
Long said the Hope Credit, for students in their first two years of college, would credit up to $1,500 of taxes on tuition and book expenses.
The Lifetime Learning Credit, which is worth up to $1,000, is available to undergraduate and graduate students and offers tax exemption for 20 percent of a student's qualified expenses, which include tuition, books and related expenses.
If students are claimed on their parents' tax returns, then their parents qualify for these credits.
Thomas King, a tax preparer at H&R Block, 2104 W. 25th St., said students could deduct the interest on their student loans for up to five years after they were required to start paying the loans.
No one is required to pay taxes unless they want $7,200 or more. But King said that most students would want to file taxes because most of them would be eligible for a refund.
"If a person is claimed on another person's taxes they can only get $4,400 back," he said. "If they claim themselves, they can make up to $7,200 without even paying taxes."
Long said that students who were claimed by their parents could not claim a personal exemption.
Long said that most students, upon being hired at a job, became familiar with the W4 and l9 forms that they were required to complete.
Long said the purpose of the W2 was to aid employees in filling out their personal taxes. An employee writes all of their exemptions on the W4, and these exemptions lead to deductions. The fewer the number of exemptions, the more money the employer takes out of the employee's paycheck, which usually results in a larger tax refund for the employee.
The purpose of the I9 form is to determine whether an employee
is a legal resident of the United States.
Students might also need to file a 1099 form with their taxes. Long said
He said there were two commonly used versions of the form — the 1099 miscellaneous and the 1099 INT.
Long said the 1099 miscella-
to odd jobs and was labor-oriented, and the 1099 INT reported the amount of interest that a person earns on a bank account.
— Edited by Joshua Richards
KU students may file taxes in two states
By Ali Brox
Special to the Kansan
The prospect of a great summer internship outside Kansas would be a dream come true for many University of Kansas students. However, those students could be rudely awakened when they realize they must pay multiple state income taxes.
Abby Rosdahl, Nortonville graduate student, spent last summer working in accounting at Nike World Headquarters in Beaverton, Ore. Now she must file income tax in both Kansas and Oregon. She said the Oregon return would take longer to fill out because it was different from the Kansas form and much more difficult than the federal return.
"I get two state refunds, though, which is nice for me," Rosdahl said. This was her second summer in Oregon, so the state sent her everything she needed to file this year. However, the year before she online to get the forms she
needed.
Chris Reed, Papillion
money is guaranteed back faster when you do it by
phone," he said. "I usually get my refund in about two weeks."
— Edited by Matt Daugherty
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