Why do some people make taxes so hard
- Thread starter aviHawk
- Start date
Turbo Tax is what I use and I don't get too worked up about how accurate/inaccurate I am. iirc, I'm only required to file to the "best of my knowledge", there's no law that says I have to be right.
There was a university study a few years back where 10 different CPAs were given the same tax info. All 10 got different results. That's when I said screw it. I'll just file and leave the rest to the IRS. If they want to audit me, so be it.
Been filing stress free ever since.
There was a university study a few years back where 10 different CPAs were given the same tax info. All 10 got different results. That's when I said screw it. I'll just file and leave the rest to the IRS. If they want to audit me, so be it.
Been filing stress free ever since.
Its not difficult if you're single, have no investments, and don't own anything such as a home.
If you're married, with kids, have investments, own property, have write-offs from previous investment losses, etc... it can get a bit tricky once you start using all of the different write-offs. If you're just filling out the 1040ez, then its not hard at all, and in fact you don't even need turbo tax. You could figure it out in 15 minutes just using the form.
If you're married, with kids, have investments, own property, have write-offs from previous investment losses, etc... it can get a bit tricky once you start using all of the different write-offs. If you're just filling out the 1040ez, then its not hard at all, and in fact you don't even need turbo tax. You could figure it out in 15 minutes just using the form.
I so agree. For 3 years I had my own company and had to file with an accountant. Got letters from the IRS multiple times saying I still owed money. Turbo Tax and the audit defense is awesome. I file and forget about it.
It depends on what you have to enter in. It is somewhere between 50-80 for me. If you are doing a 1040 EZ, it is free.
The only time it's somewhat difficult is when change is involved. First time filing when married. First time filing after buying a home. Next year will be my first time filing with a kid in college. Still not terribly difficult, just different from what you are used to.
"I just wanted to speak to you about something from the Internal Revenue
Code. It is the last sentence of section 509A of the code and it reads:
'For purposes of paragraph 3, an organization described in paragraph 2
shall be deemed to include an organization described in section 501C-4,
5, or 6, which would be described in paragraph 2 if it were an
organization described in section 501C-3.' And that's just one sentence
out of those fifty-seven feet of books." - Ronald Reagan
Taxes are 'made hard' so that loopholes can be inserted.
Simple taxes threaten multiple cottage industries.
Code. It is the last sentence of section 509A of the code and it reads:
'For purposes of paragraph 3, an organization described in paragraph 2
shall be deemed to include an organization described in section 501C-4,
5, or 6, which would be described in paragraph 2 if it were an
organization described in section 501C-3.' And that's just one sentence
out of those fifty-seven feet of books." - Ronald Reagan
Taxes are 'made hard' so that loopholes can be inserted.
Simple taxes threaten multiple cottage industries.
Ive used turbotax since 2003. Married, home, kids, 529's, investments, etc. Love it. Run about 80 bucks for me. That includes state return. Live in GA. Never had an issue
You answered your own question- when you add many layers to any process it becomes more complex. Even more so if you have high income and mistakes or omissions can cost thousands of dollars.
I have to write a check for approx $9,000 this year- that sucks on its own. Making sure I get all the credits and deductions that I can while also balancing work from multiple jobs including independent consulting makes for an unpleasant experience.
When I was single and making $49,000 a year- yeah turbotax took twenty minutes and I got my $500 bucks back... not the experience I have with taxes now...
