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I graduated med school in May and started working in June, so my taxes were withheld at the 25% bracket, but I only earned enough for the 15% bracket. Between the Lifetime Learning Credit and getting taxed at the appropriate marginal rate, I'm getting back all of my federal taxes.
However, I'm also eligible for a decent amount of deductions (student loan interest and relocation expenses). Can I somehow "save" or rollover those deductions for next year? Any creative accounting to pay part of next year's taxes this year so I can use the deductions?
Background info: I get paid on a W2 and also made a small amount on a Roth IRA and a regular investment account (not 401k). I live in California so I paid state income tax, but am also getting most of that back.
Thanks for the help!
However, I'm also eligible for a decent amount of deductions (student loan interest and relocation expenses). Can I somehow "save" or rollover those deductions for next year? Any creative accounting to pay part of next year's taxes this year so I can use the deductions?
Background info: I get paid on a W2 and also made a small amount on a Roth IRA and a regular investment account (not 401k). I live in California so I paid state income tax, but am also getting most of that back.
Thanks for the help!