Tax Tips for First-Time Filers: What You Need to Know

✅ 1. Know If You Actually Need to File

If it’s your first time filing taxes, you might be wondering if you’re even required to. In most cases, if you made more than the standard deduction — currently $13,850 for single filers — the IRS expects a return.

Self-employed or doing side hustle work? You’ll need to file if you earned over $400 in freelance or gig income.

🧾 2. Gather the Right Documents

To file your taxes, make sure you have:

• W-2 forms (if employed)

• 1099 forms (freelance or gig income)

• Student loan or tuition statements (1098-E, 1098-T)

• Bank account info for direct deposit
  

Having these ready will make your first tax filing experience much smoother.

💸 3. Claim Credits That Benefit First-Time Filers

First-time filers often miss out on major tax credits, like:

• Earned Income Tax Credit (EITC)

• American Opportunity Tax Credit (AOTC)

• Lifetime Learning Credit
  

These can boost your refund or reduce what you owe — so don’t leave them out.

🧠 4. Choose How You’ll File

If your tax situation is simple, you can use IRS Free File or tax prep software. If you have 1099 income, multiple jobs, or you’re just unsure, hiring a tax professional (👋 hey there!) is a smart move.

😬 5. Don’t Wait Until the Last Minute

The earlier you file, the faster you’ll get your tax refund — and the less likely you are to run into surprises. Plus, it protects you from IRS identity theft and gives time for corrections if needed.

✅ First-Time Filing Doesn’t Have to Be Scary

If you’re still not sure where to start, that’s okay. At Hannah Financial, we help first-time filers every year. No judgment. Just clear, honest help.