I personally love doing taxes. It’s like a puzzle to figure our how best to game the system
Here are some words of encouragement: Regardless of your political view(s), taxes almost certainly pay for something you want or enjoy. Maybe you like to drive to your destination and like to have roads available for said trip. Maybe you think we need a massive military, with military spending so large that the next 7-10 highest spending countries combined don’t match our spending. Maybe you like WIC or medicare. Maybe you like exploring space. Maybe you think airports are great. Perhaps you like having schools. Taxes pay for these things. I’d personally be willing to pay a little more, even, for certain causes to get better. Anyway, I digress…
I got started early January of 2016. I like to know how much I owe the government early on to see how my estimates for the year played out. I try to owe the government under $1,000 so I won’t have to do quarterly pre-payments.
- W-2’s, check.
- Student loan(s), irrelevant, we’re phased out of this deduction, which is bullsh*t, but on the other hand, our APR on our $15k in student loan debt is @ 2.25%, so it’s hard to complain too much. Plus, grad school basically sent us on half a dozen free vacations. Another story for another time.
- Statements from investments, mostly check. I don’t know why, but one of my K-1s always takes until April to show up.
- Dude? Boxes of receipts? I need to lock down my organizational skills. I’ve got like three receipts. Was I supposed to keep the rest?
- Back to TurboTax this year, they finally stopped stiffing investment property owners. Check.
- Accountant? We don’t need no stinkin’ badges, er, accountants!
Tips for making taxes a breeze - start planning now for next year. Ideally, you’ll owe the government a few dollars.