Does anyone else hate taxes?

[Schneed10]

Originally Posted by saden1

I don't mind paying my taxes...even with all my deductions it doesn't take me more than 1 hour to e-file. Seriously, half of my form is auto filled from the previous year. Last year I forgot to report some stocks I sold, IRS send me a letter telling me their is discrepancy and to send them a new Schedule D...I did, and a month later they sent me $100 check back.

I don't understand all the hate, it really is easy.

Well the more dependents you have, the tougher it gets. When I was single it was super simple. When I got married it was still simple. When I bought a house it got a little more complicated because I had to start itemizing deductions. When I had a kid it got a little more complicated, because now you have child tax credits, credits for dependent care expenses, stuff like that. The making work pay credit, while awesome, added another form to the mix this year.

Once you get into owning your own business then you pretty much need either a degree in accounting, 40 hours of free time to spend pouring over the massive instructions, or pay someone to do it. For small business owners the code is a nightmare.

Of course for big businesses it's even worse, they have giant departments devoted solely to tax accounting.

[mlmpetert]

Originally Posted by Schneed10

Well the more dependents you have, the tougher it gets. When I was single it was super simple. When I got married it was still simple. When I bought a house it got a little more complicated because I had to start itemizing deductions. When I had a kid it got a little more complicated, because now you have child tax credits, credits for dependent care expenses, stuff like that. The making work pay credit, while awesome, added another form to the mix this year.

Once you get into owning your own business then you pretty much need either a degree in accounting, 40 hours of free time to spend pouring over the massive instructions, or pay someone to do it. For small business owners the code is a nightmare.

Of course for big businesses it's even worse, they have giant departments devoted solely to tax accounting.

This is my main beef with it. I think most people out there realize the need and importance of paying taxes, but the complexity is ridiculous.

[saden1]

Originally Posted by Schneed10

Well the more dependents you have, the tougher it gets. When I was single it was super simple. When I got married it was still simple. When I bought a house it got a little more complicated because I had to start itemizing deductions. When I had a kid it got a little more complicated, because now you have child tax credits, credits for dependent care expenses, stuff like that. The making work pay credit, while awesome, added another form to the mix this year.

Once you get into owning your own business then you pretty much need either a degree in accounting, 40 hours of free time to spend pouring over the massive instructions, or pay someone to do it. For small business owners the code is a nightmare.

Of course for big businesses it's even worse, they have giant departments devoted solely to tax accounting.

It's definitely a battle that gets harder the more you have to account for...e-filing software has made life a lot easier though. I'd hate to do it the old fashion way. I will say this, I have done all the things you've listed except big business taxes and not once did I feel it was too difficult.