If the subject of this post was a little too cryptic for you, it’s my pseudo-enigmatic way of saying “taxes.” Does anyone know much about doing taxes? I know it’s possible to do your own taxes, but... is it hard? I mean, I got an A in three calculuses (calculi?), I should be able to handle it, right? My parents used an accountant as far back as I remember, but my dad also owns his own business and so his taxes were a bit more complicated. Mine should be pretty simple, I just have one income source, and the only deduction is the money I tithe to the church I guess. Oh and I’m married, and supposedly one of the things George W. did before he started bombing the middle east was to get rid of the so-called “marriage tax.” But I don’t know what that means or if it actually changed anything or if it was just a talking point. I guess my biggest concern about doing it myself would be that I might do it wrong and get sent to jail for tax evasion or something when it was really just tax ignorance. I’d also be afraid that I’m missing some refunds I could apply for or deductions I could take that would save me more money than an accountant charges.
Any comments from the audience?
January 26, 9:01 am
I say just don’t pay em. You can save some time that way. heh
But seriously, I don’t think it’s that hard. I’ve never personally done it before, but I know people who do and they say it’s not that hard. Just make sure you look up everything you can deduct.
http://www.taxcut.com
January 26, 6:41 pm
The Middle East is a proper noun.
January 27, 9:05 am
I’ve done my own taxes for several years, and it’s not hard at all. You just have to follow the millions of instructions that they provide (so it ends up being a lot of reading). I don’t quite recall what form I used last year, but I know that I’ve used the 1040-EZ in the past (when I was doing co-op). It’s only a few pages as I recall (the 1040 is fairly long), but it doesn’t allow you to itemize deductions and the like. I don’t think I’ve ever done that anyways ... I didn’t have enough deductions to warrant itemizing.
Some forms can be filled out online, which is cool. I think I did my state taxes online last year. It’s a real time saver, since you don’t have to enter in the same data over and over. I’ve also used tax software (the stuff from Quicken is what I used IIRC), and it was fairly easy to use as well. Starting around March, you can usually pick it up for free at any Best Buy or similar location (although you have to send in a mail-in rebate to get your money back). And now for an obligatory Beatles reference:
‘Cause I’m the tax man! Yeah the tax man. And you’re working for no one but me!
January 27, 4:14 pm
I have used TaxAct for the past 3 or 4 years..www.taxact.com.... it’s all on line, and you can get direct deposit. I did my taxes the day I got the form from work, and I should have my refund(s) in my bank by Feb 3. Screw waiting for April to do them.. it took me most of an hour, and mine are not the easiest to fill out... I’m married, child tax credit, mortgage deduction, property tax deduction (your CAR!) and student loan deduction (don’t forget this one!!!)... so I came out WAY ahead and am happy with the whole thing.
I left a package in your office.
That is all.