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Don’t forget that the deadline for filing your 2007 taxes is quickly approaching.  For some college students this might not mean much because their taxes may be handled by their parents, or it they at least get help from their parents while doing their taxes.  For the latter, we are on our own when it comes to taxes and with the semester coming to an end we could be so buried in our studies that we forget to file our taxes.  I can assure you that the IRS will not take our forgetfulness lightly,nor will they listen to any excuses we have for not filing.

One of the few financial benefits to being a college student is that we are able to claim our tuition on our taxes and usually receive a nice chunk of change back for the government. Of course this money is already spent on tuition, housing, books, and other things, but it is still nice to receive some money for a change instead of spending all of ours.  If you have an accountant or use a tax service then they will handle the filing for you and make sure that you receive the maximum deduction from being a student.  If you do your taxes on your own however you will need to be sure that you add your cost for tuition as a deductible.  I’m not a finance major so I can’t give you all the details on this deduction…..my accountant handles that!  I’m sure if you need more information about it you can ask you financial aid officers and they will be able to help you.  After all, it is their job to be blood sucking parasites.  Just kidding, no pun intended. I’m just having a little fun tonight!

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