Lack of Posting, But Hey, Taxes Are Done!
Every year for the past several years I have done my own taxes along with my brothers. We have an LLC which we did taxes for one year by ourselves, and um, ya, that was the first and last year that happened (doing business taxes is a whole new ballgame, you have my fair warning to stay clear)! I really don’t mind doing them, it is just the time consuming aspect of it, and also finding out how much I owe Big Ben (AKA the Feds). Most of my income is 1099 Misc so I never know really what to expect. Two years now I have overpayed my taxes with pre-payment vouchers throughout the prior year and got a refund, but this year that was not the case, haha. Anyone else on 1099 that uses prepayment vouchers? I never really understood these things, I mean come on, can you REALLY predict how much money stock trader is going to make?
For software I use TurboTax (and no, SADLY that is not an affiliate link!) Premier, which always does the job. What interests me though is how I have found that a few of my colleagues, for instance Mark Zimmer who co-founded the Falkin Investing Organization with me, does their taxes by hand still. Come on now, why have technology if we don’t use it?!
Apparently doing your taxes by hand is easier for some people, but I prefer the “point and walk me through everything” process. For all of those “by hand” people out there, I just want to let you know Turbo Tax helps you find deductibles and pre-checks your taxes for errors, which has saved me on numerous occassions. Last year I put down a horribly inaccurate date for one of my stock transactions, and wouldn’t ya know Turbo Tax picked it up and helped me sort it out! I feel like I am promoting the software, but heck, it works so I am proud to!
All in all, I probably am rambling here, but atleast it is only once a year you’ll get this jargon. It always interests me though going through the whole process, and to be honest it is somewhat educational. Everytime I do them I always contemplate in my head how big of a pay check the government gets off of us in April. Imagine if we could got .000001% of that, ya… now were talking…
Still does taxes by hand??
That’s like… seeing someone use a paper map!
lol, I agree man, i agree
…or an encyclopedia, dictionary, or thesaurus.
Taxes are a b!+c#. I usually do mine Febraury 1…as soon as I get my W-2. I think this year, I’m going to try to withhold a little less, and invest what I normally give to Uncle Sam to hold on to. Man, I hope this works. *fingers crossed*
Too busy blogging….Haven’t done my taxes yet….For some reason I put it off till the last minute…YIKES!