Message board topic:

Tax Day

re: Tax Day

message 1 of 6
by » Wed Apr 17, 2019 05:01 pm

Well, I wouldn't miss all the driving.  A couple weeks ago I spent 7 hours going to Kansas City, then Kansas City Kansas.  Most of my work is up there and I'm sick of that drive.  Then I spend about 6 hours a week lugging around heavy equipment and running cables, hooking things up.  I run about 140 feet of cables just for myself.  But then there's 8 or 12 hours that can't be replaced.  It's not always fun.  Sometimes it's frustrating.  But some of it is amazing.  Some of it you never want to end.  The things people say or do are sometimes just staggering.  I couldn't imagine thinking that was never going to happen again.  John

re: Tax Day

message 2 of 6
by » Tue Apr 16, 2019 06:35 pm

I hear ya. I was self employeed in the 80's and early 90's. Now I am self employeed as my side sales AND full time employeed. I was pretty bad with money early on and did not really start to squirrel anything away till about 17 years ago. Since I take advantage of all IRAs/401ks/SEPs and I put money aside for a rainy day. I may not have enough to retire one day when the time comes, which is fine, as I cannot imagine NOT working. Honestly I like working and find I do not know what to do with myself when not working. ;)

 

David and the CoolCyberCats


Forever in my heart


Cats Nap. Only Humans Put Them "To Sleep": Sterilize, Don't Euthanize!

 

re: Tax Day

message 3 of 6
by » Tue Apr 16, 2019 04:27 pm

I was almost always self-employed, meaning I had to hold out my own tax, and I had to guess what that would be.  During leaner times, holding out big chunks of your income could be pretty tough, not to mention that you never knew what changes in the tax law would be, and at least a couple of times those changes hit me unexpectedly hard.

Big tax preparers always claimed they would represent you if the government claimed you made a mistake, but their way out of that was to claim they were just going by the information you gave them, so it wasn't their fault.  New tax laws mean they couldn't represent you if they wanted to, unless they jumped through certain legal hoops, which most of the big preparers have not.

When I retire, I'll have to keep working, which means stepping into a whole new tax Twilight Zone.  Most jobs I'd quit in a split second, but mine is kind of different.  While I'd love a few months off, I wonder how long it would be before I missed the good parts of it, or how long it would be before I felt like I no longer had a "raison d'etre".  John

re: Tax Day

message 4 of 6
by » Mon Apr 15, 2019 04:09 pm

Yup. But do keep in mind a lot of the stupid pages of questions were cased by congress trying to make breaks for their states in some way. Way way too complex. I do agree that tax should simply be a % of your income. If that were the case then companies would always withhold the right amount per check. Only propl who would need to pay a tax at years end would be people paid under the table that way.

So if you paid a cpa to do the tax and they messed it up, were they not responsable for the extra costs?A while back the feds audited me, claiming I owed them because Amazon reported almost a million in sales, so they assumed I lied. Joke was on them, sort of. We all found I made LESS and they OWED me. Of course the money back did not cover the added costs of the accountants and my time. I think the IRS should have to pay for that if they are wrong. They should now have to pay for my accountants and time because of fear of another audit. *sigh*

 

 

David and the CoolCyberCats


Forever in my heart


Cats Nap. Only Humans Put Them "To Sleep": Sterilize, Don't Euthanize!

 

re: Tax Day

message 5 of 6
by » Mon Apr 15, 2019 03:31 pm

Very true.  Just the cost of having taxes done is insane.  Those "free" tax deals on television only do your state taxes free.  Federal taxes cost money.  But the way taxes are, I can hardly blame tax preparers for charging so much.  There should be 3 lines on the tax forms.  How much did you make?  What did it cost you to make it?  See table for your tax.

Of course, having them so complicated makes the government a lot more money.  I once made a mistake on mine and the penalties and interest were almost exactly the same as the tax I owed.  So, the next year I took them to a professional...who also made a mistake.  I paid someone to screw up my taxes and again, the penalties and interest were as high as the tax.  So, back to doing them myself.

This year, I was warned not to wait for a check, as the government shutdown screwed everything up.  Just have it direct deposited, or your refund could be months away.  I really despise the tax code.  John

Tax Day

message 6 of 6
by » Mon Apr 15, 2019 12:34 pm

Yeah, I finished! JUST on time. I hate tax day!

I would think congress would adjust the tax code if they somehow passed a law that said that all costs associated with figuring the tax bill was paid BY congress. THat would prompt them to make a change. ;)

 

David and the CoolCyberCats


Forever in my heart


Cats Nap. Only Humans Put Them "To Sleep": Sterilize, Don't Euthanize!

 

Use: [New Colors] [Old Colors]