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Loans Online – What you need to know about student loans, working from home and city taxes

FLINT, Mich. (WJRT) -(02/05/21)- The IRS expects more than 150 million tax returns to be filed this year, but filing those returns will look a bit different than in previous years, thanks to some new tax provisions due to the coronavirus pandemic.

Cassandra Alexander Lathan has spent the past two decades preparing tax returns for Genesee County residents.

This year- Alexander Lathan says clients are asking questions about things like student loans, “So there’s not a lot that has changed about it other than the fact that even if they are getting, unemployment, or even if they are still working that they were still able to get the forbearance due to dependents.”

What about the interest and payments write-off?

“Unfortunately for those who chose to get the forbearance and not pay anything for 2020, they won’t have that as a deduction this year. But for those who still paid up until that time, and I do have time to okay throughout that time they will still be able to take advantage of that deduction this year,” she said.

Millions of people worked from home for most of 2020.

Can you write anything off?

“You used to get to claim like maybe part of your internet credit because you were using right for work half of the time, or maybe the space or home space that you we using for work. You got to claim credit for that. You got to make a claim something like consumer credit maybe you were running and making errands with your vehicle, all of those were cut out as a 2018 tax year.”

What about city taxes?

Do you still have to pay if you worked from home?

“If you worked from home and you’re in Grand Blanc, then no, because you work all year, but for the part of the year, maybe you work through to march in the city of Flint right so then it will be prorated,” Alexander Lathan said.

Copyright 2021 WJRT. All rights reserved.

Loans Online – What you need to know about student loans, working from home and city taxes

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Judie Simms

Judie Simms

Contact: judie.simms@fintechzoom.com

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