Taxes

[Outdoorsman]

I have decided I hate taxes!! Our tax code has gotten way too complicated and entirely too many forms to complete. When it takes 50 hours to complete a return, there is a problem. Do you realize how much that costs for a citizen to do taxes? That is $12,500 at $250 per hour. I think the 50 hours thing is also a low estimate. When it costs as much or even more to prepare the tax filings as it does to pay there is a IMHO a problem.

I have been doing taxes for the past 4 days, night & day. I am very frustrated with the tax code right now, lol. Here is the kicker each year a plethera of new tax laws are added to an already overly complicated tax system. I take breaks on my computer to come write in this forum, thx guys for listening.

Oh, did I say I hate taxes? While you guys are hobbying I am doing effing taxes. It is work for me so I get paid, which I like very much!! But the tax system is so screwed up it is not work that I really enjoy. Just venting a little.

It is kinda like the guy that shows up for a session that has not showered in a week and smells bad but writes lots of reviews, the provider may be thinking damn I gotta do him? Not work she may enjoy all that much and when she feels that at 45 minutes has passed and looks over at clock to realize only 15 minutes has passed!!! Or the guy arrives at session and the lady puts out a cigarette and is wearing not sexy sweat suit and immediately gives a list of "not on menu items." Although guy can leave. Well, ya'll get the picture. Have fun this weekend while I work!!!

[docdavid49]

Outdoorsman.. should have put this one in the Sandbox, I think, but I have to totally admit that I agree with you. I have a degree in accounting so I do my own books throughout the year but come tax time... Only a professional will do. I could probably muddle my way through but not only do I hate taxes, I hate the tax man and the code says we are guilty until we prove that we are right. To me that is not constitutional but ...

Then, of course, they (our wonderful government) give away my hard earned dollars to folks who can't work, won't work, or have never worked...

Vent all you want tax season is almost over until the August 15 (it is August isn't it) extension deadline.

[CajunGent]

at $250.00 per hour, you are overbilling. And, the reality is, that if you are highly skilled, it does not take that long to do a tax return.

[LAVixian]

Originally Posted by Outdoorsman

I have decided I hate taxes!! Our tax code has gotten way too complicated and entirely too many forms to complete. When it takes 50 hours to complete a return, there is a problem. Do you realize how much that costs for a citizen to do taxes? That is $12,500 at $250 per hour. I think the 50 hours thing is also a low estimate. When it costs as much or even more to prepare the tax filings as it does to pay there is a IMHO a problem.

I have been doing taxes for the past 4 days, night & day. I am very frustrated with the tax code right now, lol. Here is the kicker each year a plethera of new tax laws are added to an already overly complicated tax system. I take breaks on my computer to come write in this forum, thx guys for listening.

Oh, did I say I hate taxes? While you guys are hobbying I am doing effing taxes. It is work for me so I get paid, which I like very much!! But the tax system is so screwed up it is not work that I really enjoy. Just venting a little.

It is kinda like the guy that shows up for a session that has not showered in a week and smells bad but writes lots of reviews, the provider may be thinking damn I gotta do him? Not work she may enjoy all that much and when she feels that at 45 minutes has passed and looks over at clock to realize only 15 minutes has passed!!! Or the guy arrives at session and the lady puts out a cigarette and is wearing not sexy sweat suit and immediately gives a list of "not on menu items." Although guy can leave. Well, ya'll get the picture. Have fun this weekend while I work!!!

Sorry you have to work.

[trekker]

I have few deductions and only one source of income, so it only takes me about half an hour to fill out my return, but I still hate seeing so much of my money taken without my permission and spent stupidly and extravagantly by the riffraff in Washington. Most of it spent to subsidize laziness, promote bad education, and impose ridiculous regulations.

[Outdoorsman]

Sorry if my scenario is confusing, I will attemtp to clear it up. I am not speaking of an individual who is trained and educated in taxes or tax laws. I am speaking of the everyday citizen. I think only estimating 50 hours annually for the avergage perosn is actually kinda low. I am talking about set up time, learning new laws if appliacble, setting up separate accounting systems one for reality and one for tax purposes, preparing forms, and sending checks, etc. One of the first cannons of creating tax laws is to make them simple so everyday individual can complete, that's was history long time ago.

Also, the $250 per hour is not the the charge to the client, it is the amount of money per hour an individual can make if he or she is not doing dumb ass tax work (for example a provider or a lawyer). So, those individuals lose $12,500 per year by doing taxes. So, if you are a CPA I am helping making an argument for others to hire you and save the difference between your costs and the $12,500. But really I am arguning it is nuts to have such complicated tax laws that we have to hire professionals, that is my point.

I hope that clears things up. And prolly should have put in Sandbox

[MrGiz]

Ahhhhhhh , the Good Ole Days..... when it took 15-30 mins to complete all of my tax forms.... and I made less in a year than I pay in taxes now!

Naaaaaaahhhhhhh..... I'll take the complications!

My CPA is beyond valuable to me... it would be a huge learning curve for me to even think of preparing my own returns these days!!

Giz

P.S. - One definition of mixed emotions.... the joy of finding out you were stupid enough to have over-paid during the year!

[docdavid49]

Originally Posted by MrGiz

Giz

P.S. - One definition of mixed emotions.... the joy of finding out you were stupid enough to have over-paid during the year!

I paid my estimate on 2008 and my income was down 25%!!!! So... I don't know, was I stupid or just optimistic?? Anyway, let them keep enough for the first estimate for this year and socked the rest into my ROTH IRA.

[marco2007]

I wouldn't mind so much if they spent the money responsibly. Nothing irked me more when I saw Pelosi on TV about a year ago refer to taxes as "The government's money". That woman and her ilk aren't capable of effectively running a lemonade stand.

[juan2fork]

However, my taxes are lower than they were last year, because the POTUS some of you love to hate did cut taxes for the middle class.

[turbo-dog]

Originally Posted by juan2fork

However, my taxes are lower than they were last year, because the POTUS some of you love to hate did cut taxes for the middle class.

I agree, but it's not a "real" cut, a lot of people got larger refunds this year but their overall taxes are going up. The Chinese are financing our government and once we start paying a national sales tax or value added tax everyone will be paying more.

[I B Hankering]

I guess I wasn't so lucky. My overall income was significantly less than the previous year so I did pay less in taxes. However, the taxes I paid were at a rate one percent higher than the previous year. Furthermore, because Congress let the tax cuts put in place by Bush expire, my rate of withholding is already higher this year than it was last year.

[DallasRain]

Taxes--the original five letter dirty word..lol

[Stevehope]

Taxes will continue to rise. Each time they cut us a break in one area, or offer us a stimulus package, they will begin taxing the crap out of us elsewhere. So, no matter what, we will continue paying more.

[DallasRain]

good things we providers don't charge taxes????
{just kidding...lol}