The Tax Man Cometh

Discussion in 'Off Topic [BG]' started by IamGroot, Jun 13, 2020.

  1. I choose not to/ don't have to

    2 vote(s)
  2. I use pencil and calculator

    2 vote(s)
  3. Store bought or online software

    15 vote(s)
  4. I pay someone else t o do it for me

    16 vote(s)
  5. The goverment does mine

    0 vote(s)
  6. I mail in all my carrots

    2 vote(s)
  1. IamGroot

    IamGroot Inactive

    Jan 18, 2018
    For many years I did my taxes by hand. Checked them with Turbotax when you could buy a copy that didnt require internet. Then for many years, the company required us to use their CPA. Since I retired, I used the IRS software and left money on the table. I cant use TurboTax as the farm house doesnt have internet.

    So it was mano to mano with the tax code this year. Built my own software on Excel. Used the IRS pdf forms. Very happy with the results and I am fully conversant on the code. My software is ready for next year, but 2019 had a lot of changes from 2018. We will see what 2020 brings. Ps, read Sch 2 and 3 carefully for hidden taxes.

    How about you?
    pie_man_25 likes this.
  2. Razman


    Feb 10, 2005
    Orange Park, FL Saves my info, updates to GUI make this year the easiest to use it has ever been, never have to worry about installing it on anything. Could do it on my tablet if I wanted.

    Next I need to find software to track all my receipts instead of saving and adding them manually.

    IamGroot likes this.
  3. Michedelic

    Michedelic MId-Century Modern

    We’ve got a guy. I bought him a guitar he’d been looking for a couple of years ago, he takes good care of us, knows all the tricks.
    Last edited: Jun 13, 2020
    ajkula66, IamGroot and Stumbo like this.
  4. Gorn


    Dec 15, 2011
    Queens, NY
    I pay the nice man some money and he does it for me.
    bobba66 and IamGroot like this.
  5. Mike N

    Mike N Missing the old TB Staff Member Gold Supporting Member

    Jan 28, 2001
    Spencerport, New York
    I've used the same CPA for 30+ years.

    No desire to try to do taxes myself or use anyone else.
    Joshua, MJ5150 and IamGroot like this.
  6. filmtex


    May 29, 2011
    My wife and business partner takes care of all my finances. Tracks everything through a database she built with FileMaker and when it comes time for taxes she handles it. I lucked out I guess. I lay and she pays the bills!
    IamGroot likes this.
  7. MJ5150

    MJ5150 Moderator Staff Member Gold Supporting Member

    Apr 12, 2001
    Olympia, WA
    My mother is a retired accountant.
    She's been doing my taxes since I was 16 years old. She's old school, does them by hand on paper.

    IamGroot and Bent77 like this.
  8. Electricalbass


    Dec 13, 2017
    NW Montana
    My wife does mine/ours on the puter. Turbo tax I think.
    IamGroot likes this.
  9. rufus.K


    Oct 18, 2015
    When I was younger (So much younger than today)and single I would do my own by hand , quite easy ( I never needed anybody's help in any way) .
    But I am older now and the missus and i own multiple businesses, have a disabled child, work under contract for a union, a few medical establishments, and a handfull of other income streams... its a farking mess.
    We have a bookeeper for the daily/weekly stuff, an accountant for year and quarter endings, plus an assistant 3 days a week.
    I touch nothing but incoming checks.
    IamGroot likes this.
  10. GregC

    GregC Questlove, Black Thought, Hamilton Gold Supporting Member

    Jan 19, 2007
    Ours are typically pretty simple, so we do them by hand together. When they get tricky, we use Turbotax as a check. Speaking of checks, it's been a full two months since we filed and we're still waiting on the (direct deposit) refund. Certainly Covid 19 is making things complicated for everyone, but I'm still surprised.
    IamGroot likes this.
  11. fhm555

    fhm555 So FOS my eyes are brown

    Feb 16, 2011
    Wifey is our money farmer. She makes it grow so well i just leave it all in her capable hands, including squaring things with our Uncle every year. She enjoys it and i enjoy her enjoying it. She never asks me what goes on in my shop and i never ask her how she makes our money grow, and so far it’s working just fine for both of us.
    ajkula66, IamGroot and rufus.K like this.
  12. rufus.K


    Oct 18, 2015
    fhm555 likes this.
  13. Jefenator

    Jefenator Supporting Member

    Aug 22, 2008
    I’ve done my taxes by hand before but it gets too tedious for me these days - especially when I’m depreciating stuff. TurboTax has been satisfactory for me.
    IamGroot likes this.
  14. jthisdell


    Jun 12, 2014
    Roanoke, VA
    I have been a CPA for 35 years and while I have spent most of it as a Corporate Controller I do a decent amount of taxes. My issue with the trend towards do it yourself tax software is that it will let you input anything and will then output a result that may be mathematically correct but may in fact be completely wrong. In tax you need to know the answers before you start the return.
    IamGroot likes this.
  15. BioDriver

    BioDriver A Cinderella story

    Aug 29, 2008
    Austin, TX
    My grandfather used to work for the IRS so I used to do it by hand with his inputs and tricks. That all changed when the tax code was drastically overhauled, so I gave in and started using TurboTax. It gets the job done.
    IamGroot likes this.
  16. Anything I say with regards to taxes would be moot you guys. I usually go by have and double check with software though, then send results to my father to triple check before submitting.

    Knowing I'm kinda scatterbrained means that I set myself out to double-check everything and verify with an outside source/subject matter expert.
    IamGroot likes this.
  17. Nashrakh


    Aug 16, 2008
    Hamburg, Germany
    The last time I had to do my own taxes, I sent in a blank piece of paper.

    While the above sentence was uttered in utmost sincerity, my tax situation is transparent enough that I can do them myself. Nothing big to keep track of. The German government provides citizens with a software solution that is easy to use, so there's that. However, no use trying to evade...
    GregC and IamGroot like this.
  18. IamGroot

    IamGroot Inactive

    Jan 18, 2018
    But the soft economy is alive and well I think. A lot of cash payments?
  19. My wife, who takes care of the finances, keeps stuff very organized through out the year. At tax time, we go to a CPA cause our stuff is very complicated. I am glad she takes care of it. If it was up to me, the IRS would probably be chasing me or worse yet, I would end up in jail.