Hello all, I have just graduated and am waiting for boards and this has been bugging me for a while.
I am single, living in an apartment and plan on working as many hours as possible for the first two years in my present position and then do some travel nursing for about a year or so.
I want to pay off my credit cards/student loan, new truck, and then save a big chunk of change so I can buy my dream house within three years or so.
Without deductions, a plan or a sound strategy I am afraid Uncle Sam is going to rape me. Can anyone give me some advice on taxes and basic strategies to help achieve my goal?
Specializes in Emergency Room, Cardiology, Medicine.
Hey guys - I spoke with somebody in depth who is pretty familiar with tax deductions and whatnot (actually.. it was my dad... lol) I told him I was worried about claiming TOO many deductions because I didn't want to be charged too much in April. However, he said that since I started my job in August of this year (and the tax year ends in December) claiming MORE deductions won't hurt me so much. In other words, since I'm only working 4.5 months out of the 12 in the 2006 tax year - claiming more and getting more back shouldn't really sway my refund in April (at least to the extent that I'll see my tax return and wince). As for after January, I'm not sure -- I may need to lower the deductions a little. I don't understand it completely - but, I trust him.
Dempather, RN
182 Posts
Hey guys - I spoke with somebody in depth who is pretty familiar with tax deductions and whatnot (actually.. it was my dad... lol) I told him I was worried about claiming TOO many deductions because I didn't want to be charged too much in April. However, he said that since I started my job in August of this year (and the tax year ends in December) claiming MORE deductions won't hurt me so much. In other words, since I'm only working 4.5 months out of the 12 in the 2006 tax year - claiming more and getting more back shouldn't really sway my refund in April (at least to the extent that I'll see my tax return and wince). As for after January, I'm not sure -- I may need to lower the deductions a little. I don't understand it completely - but, I trust him.