ugh taxes amirite
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10-04-2015, 06:07 PM (This post was last modified: 10-04-2015 06:12 PM by cactus.)
ugh taxes amirite
speaking as an American, who has to deal with this crap every year:
Are other people as confused about this stuff as I am? It's like it's designed to be as difficult as possible and make you want to give up and go "whatever, I'll just skip the deductions this year." Even with all the "taxes for dummies" software out there that tries to simplify the process, it's still confusing as shit Confused

Every year when I get to the list of deductions, I always end up bogging down my computer with 100 browser tabs as I spend the whole day trying to figure out what this stuff all means: looking up all this weird terminology about how to categorize my health plan and such (only to realize I already reported it, because it was on my W2), figuring out at what point it's worthwhile to itemize, walking into the bank (as close to the tax deadline as possible, as I hate dealing with this shit) and trying to act like I know what's going on as the guy tries to take advantage of my ignorance and sell me on some high-risk mutual fund, as I'm trying to figure out if I'm making a good decision in supplementing my 401k savings with an IRA ("Roth or Traditional"? uhhhh, fuq if I know. Why must this be so complicated? So I ended up just setting up an IRA online this year, because I have kind of a phobia of dealing with financial advisers at banks. I feel like they're secretly trying to rip me off at every possible opportunity.)

Seriously, year after year it never seems to get any less stressful, and I feel like I'm trying to learn a whole new language every time I have to wade through all this financial mumjo jumbo.

#IFeelVeryStupidRightNow

but hey, at least I got it done, and don't have to deal with any of this for another year Thumbsup

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10-04-2015, 06:10 PM
RE: ugh taxes amirite
I'm not American, but I can relate. I make my parents do it. I dread the day I will have to do it on my own. I'll probably fuck up and have to move to Bangladesh.

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10-04-2015, 06:19 PM
RE: ugh taxes amirite
Why Bangladesh? XD

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10-04-2015, 06:21 PM
RE: ugh taxes amirite
(10-04-2015 06:19 PM)The Polyglot Atheist Wrote:  Why Bangladesh? XD

No idea actually. It was the first thing that came to mind Laugh out load

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10-04-2015, 06:31 PM
RE: ugh taxes amirite
(10-04-2015 06:19 PM)The Polyglot Atheist Wrote:  Why Bangladesh? XD

because they drive funny cars

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10-04-2015, 06:51 PM
RE: ugh taxes amirite
The reason that tax laws are so complicated?

For the same reason that religions have so many obscure, hard to understand rules.

....

If it was easy - you could question it.

..

If it's ineffable - you have to go along, or look like a dumbass......

....

.......................................

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10-04-2015, 06:57 PM
RE: ugh taxes amirite
All I have to say is, I bought my first house this year, so I figured with interest being deductible from my gross income, and keeping track of sales tax (you can deduct sales tax in WA) I could finally get a better deal than the "standard deduction."

So I spent all year, ALL YEAR, saving every receipt, and entering it into a spreadsheet I made which tracked date, business, sales tax amount. Then I stored these receipts in a safe place.

Tax times comes, and GUESS WHAT, the standard deduction was over $6000 IIRC, and since I bought my house in July, I had less than half a year of interest accumulated to go towards any sort of itemization. Even though I bought big ticket items for my new house (such as rugs, and over $2000 worth of furniture), my total amount was less than the standard deduction still! And of course my ROTH and 401K don't factor into this. Part of this has to do with my mortgage strategy which minimizes total interest paid.

*sigh*

So essentially I spent all year tracking receipts for nothing. Oh man was I pissed. And to top it all off I ended up owing about $100 bucks.

Dodgy

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10-04-2015, 07:19 PM
RE: ugh taxes amirite
(10-04-2015 06:57 PM)Adrianime Wrote:  All I have to say is, I bought my first house this year, so I figured with interest being deductible from my gross income, and keeping track of sales tax (you can deduct sales tax in WA) I could finally get a better deal than the "standard deduction."

So I spent all year, ALL YEAR, saving every receipt, and entering it into a spreadsheet I made which tracked date, business, sales tax amount. Then I stored these receipts in a safe place.

Tax times comes, and GUESS WHAT, the standard deduction was over $6000 IIRC, and since I bought my house in July, I had less than half a year of interest accumulated to go towards any sort of itemization. Even though I bought big ticket items for my new house (such as rugs, and over $2000 worth of furniture), my total amount was less than the standard deduction still! And of course my ROTH and 401K don't factor into this. Part of this has to do with my mortgage strategy which minimizes total interest paid.

*sigh*

So essentially I spent all year tracking receipts for nothing. Oh man was I pissed. And to top it all off I ended up owing about $100 bucks.

Dodgy

I've never gone to quite that length, but I'm fairly certain I'll never have enough itemized deduction to break the standard barrier.

On the plus side - that spreadsheet is a nice handy expense report to help you budget if needed! Thumbsup
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10-04-2015, 09:40 PM
RE: ugh taxes amirite
My employer deducts taxes out of my paycheck each week. That's how it's done here.
You can than claim tax refund if you've been taxed too much at the end of the financial year.

Businesses and independent contractors do their own taxes though and can apply for deductions for things such as petrol if it's a business expense.

Silly Americans with their silly system.
I wonder how much money you could save if everyone's employers just deducted it out of paychecks each week because it makes tax avoidance impossible (by employees that is, which is majority of the working population).

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10-04-2015, 10:34 PM
RE: ugh taxes amirite
Having both federal and state taxation levels complicates things significantly in the US. In many other countries taxation is simpler because government is simpler.

Give me your argument in the form of a published paper, and then we can start to talk.
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