Reply #32: Okay, start looking: [View All]

It looks like you're getting hit with a self-employment tax. So start thinking about itemizing to increase your deduction. Can you write off any business equipment (like computer hardware or software, books or classes, a home office)? Did you have job search expenses, such as employment agency fees, resume printing fees or postage? Medical bills? Did you donate anything to charity? Do you have student loan interest?

It sounds like you probably rent rather than own, but if you happen to own the place where you live, there's that interest.

If all else fails and you can borrow money from someone (or have it in the bank), put it in an IRA and deduct it. You can open an IRA for 2005 until the date you file your taxes or April 15, whichever comes first.