General Discussion

TexasBushwhacker

(21,206 posts)

48. Most of the complexity in the tax code is for businesses

Sat Apr 8, 2023, 08:16 PM

Apr 2023

Personal tax returns are fairly straightforward. If you get a W2 and use the standard deduction, your return is very simple and can be filed online through TurboTax or TaxAct for free. State income tax returns cost a bit.

But if you itemize your deductions, that's not something the IRS can do for you.

I'm a bean counter for a living. I may not "produce" anything, but I keep the books straight for businesses so that my clients can spend their time doing what they do best, whether it's selling real estate, being a physical therapist, an attorney, a restaurant owner or a landscape designer. That's just a few of them.

Edit history

Please sign in to view edit histories.

Recommendations

0 members have recommended this reply (displayed in chronological order):

48 replies

= new reply since forum marked as read

Highlight:

What the IRS is planning... [View all] Joinfortmill Apr 2023 OP

"Give the government too much information?" Give me a break. Buns_of_Fire Apr 2023 #1

That was my response, too. Nothing is private anymore. nt leftyladyfrommo Apr 2023 #6

Translation HAB911 Apr 2023 #8

That. It will interrupt their ability to fuck people over. onecaliberal Apr 2023 #26

H&R Block & Intuit are the major lobbying firms that are keeping taxes complex. TheBlackAdder Apr 2023 #14

I got audited by the IRS when I was in the Navy Farmer-Rick Apr 2023 #27

Absolutely this Johnny2X2X Apr 2023 #33

H&R fucked up my taxes so bad it took thousands and over year to get out of the mess. TheBlackAdder Apr 2023 #39

After 2018, my taxes got much more complex TheRealNorth Apr 2023 #43

Yeah, much better to give too much information to corporations. unblock Apr 2023 #23

Correct Glaisne Apr 2023 #28

The information that they get is what you put on the form, just like with a tax preparer. Firestorm49 Apr 2023 #36

Wasn't it always free ? MichMan Apr 2023 #2

Not for everyone. See link below Joinfortmill Apr 2023 #4

I think the implication is to allow online filing direct Buns_of_Fire Apr 2023 #5

They should just tell us what we owe Farmer-Rick Apr 2023 #30

Yeah, no. Kingofalldems Apr 2023 #34

People still mail paper tax forms? GregariousGroundhog Apr 2023 #44

Should all tax software be free, including the premium versions? MichMan Apr 2023 #46

Productive industries vs. non-productive occupations bucolic_frolic Apr 2023 #3

I totally agree. jimfields33 Apr 2023 #7

Neither my husband nor I get paychecks Maeve Apr 2023 #10

All your routine household expenses are treated as business expenses? MichMan Apr 2023 #13

No, but all our income is business income Maeve Apr 2023 #18

I am also a sole proprietor. I would NEVER think of filing my own taxes. Ferrets are Cool Apr 2023 #20

With good tax software and years of practice, it's not so bad Maeve Apr 2023 #24

Obviously it wouldn't work for 15 percent of the population jimfields33 Apr 2023 #25

I think you have it backwards Bob_in_VA Apr 2023 #29

Oh you are absolutely correct. I definitely went upside down on that. jimfields33 Apr 2023 #31

Don't you have to pay tax on savings interest in the USA? muriel_volestrangler Apr 2023 #45

Companies view their IT departments the same way, it doesn't generate revenue, just a cost center. TheBlackAdder Apr 2023 #12

It is overhead MichMan Apr 2023 #47

Most of the complexity in the tax code is for businesses TexasBushwhacker Apr 2023 #48

The rich view the IRS as a joke. The Jungle 1 Apr 2023 #9

Auditing the top 400 people and top 500 firms would probably reap more revenue than half of US. TheBlackAdder Apr 2023 #11

At least now they have to pay 15 percent every year. jimfields33 Apr 2023 #32

"Bean Counter" here ALBliberal Apr 2023 #15

As opposed to privately held corporations having private financial information? dlk Apr 2023 #16

So very true. ALBliberal Apr 2023 #17

Exactly. The value add is in creating the returns, not in filing them. paleotn Apr 2023 #19

I concur Bob_in_VA Apr 2023 #35

Another fear ploy Marthe48 Apr 2023 #21

I haven't gone the commercial filing route because I didn't want to give private companies my info wishstar Apr 2023 #22

My wife and I always uses a professional tax consultant to do our taxes. patphil Apr 2023 #37

Where are the tax forms? Puppyjive Apr 2023 #38

It used to be at local public libraries for example.nt. drray23 Apr 2023 #41

We always use a professional tax accountant drray23 Apr 2023 #40

Good. I like free filing. ananda Apr 2023 #42