How easy/difficult is your income tax

[Dominus]

^^you got off easy. . .mine ran 75 pages

Good god man, what's involved with your taxes that required 75 pages? The reason my tax return last year was so long was because of rental properties and business expenses. I'm expecting my tax return to be around 70 or so pages this year.

 

[smokeshadow]

^^Well, 4 pages were for the estimated taxes for last year, six or so pages delt with Capital gains/losses, 4 delt with minineral interest properties, several delt with foreign tax credit, several were dedicated to Social Security benefits and quite a number delt with sales tax distribution and capital gain distributions. This doesn't count the 1040 form pages themselves, as well as all of the schedules that are appended to it

 

[lockeroomguy]

Mine are barely difficult enough to require an accountant. I gave up doing my own after a screwup that cost me a penalty. Pisses me off to have to pay a bunch of money to figure out how much I need to send to the government. I wish they would scrap income tax and establish a national sale tax.

 

[PrinceCory]

Now that I am retired my returns are pretty simple. Besides my 2 pensions I have various investment earnings to report.

 

[Latimer]

I believe they are more complicated than what I could do on my own. I have an accountant. and simply sign on the lines with the yellow stickers and authorize the checks. I also have a so-called "wealth" management fund, and a retirement plan that I put money into, and again I follow the directions of people who know more than I do about these matters. .

 

[Dominus]

I believe they are more complicated than what I could do on my own. I have an accountant. and simply sign on the lines with the yellow stickers and authorize the checks. I also have a so-called "wealth" management fund, and a retirement plan that I put money into, and again I follow the directions of people who know more than I do about these matters. .

Truth be told, when I first started my company I had an accountant do my taxes. Then I started learning the ins and outs. This year, I plan to do my own taxes and then have my accountant look at it. I really wanna learn how to do all of it on my own.

 

[Latimer]

^
I know the level of both my competency and interest in learning the ins and outs which is negligible on both counts. I'd rather put my time into my practice and making money. You have no idea how incompetent I can be when it comes to practical matters.

 

[bedbugy]

never paid income tax since I left work in 1987
however, I claim interest tax on my savings

 

[eddielee]

I have always done my own taxes and they are simple. I just have to be sure to keep all of my documents together. The actual paperwork takes less than half an hour.