Sunday, February 19, 2017

Taxes, Time for that Income tax form!

 I laugh when I hear the fuss about Trumps tax returns.  Especially when seniors and kids  will not fill out their own taxes and go to H&R Block and pay them to find every deduction and loop hole they can. Then they are signed. MOST PEOPLE CANNOT READ THEIR RETURN, much less know what is in them. We are interested in what we can get back. 

Some people think Bill Gates fills out his tax return or knows what is in it? Do people actually think a Billionaire actually fills out his taxes? I have no idea how many lawyers work on Trump’s, Gate’s, Buffet’s, Bush’s, Clinton’s tax returns. But I know that the attorneys are finding every deduction, loop hole and dependent they can.  (Some of their returns are stacked over a foot high, 1000’s of pages)  Sherry and I do not earn enough to look for loop holes.
I do our taxes and I try to get everything back I can. I am sure the folks who worry about someone getting a break on taxes never would take advantage of the system. LOL
Friends, the IRS rules are set up by wealthy people and approved by wealthy people. These rules are not set up by blue collar workers. If I read right, the majority of our congressmen and government leaders are wealthy, compared to you and I.  Of course you and I think the IRS rules should be changed, everyone should pay their fair share. But friend, “me and you” ain’t making the rules. They are made by men and women of both parties. Every person running for President and congress knows the buzz words, so they like to repeat them: I WILL PUSH TO CHANGE THE IRS TAX REGULATIONS TO EQUALIZE THE BURDEN!

Have you noticed how well that promise is kept? If every politician who promised that, would do it, it would be done in a NY minute.
Once between 1959 and 1972 President Nixon’s tax return was made public. He had paid $750 tax that year as president, and it was all legal. I had paid twice that AS A SAILOR, and he was my Commander in Chief. Both our tax forms were LEGAL.

I am just typing this because it is time for me to fill out our taxes, and I am putting it off. I do it because I am cheap, and it is basically simple (since we do not have stocks or bonds other than Sherry’s 401K). I read and follow the instructions. I have always done our taxes, state and federal (Except the last 8 years I was in business).
Does anyone here remember when the average person filled out a tax return on one simple IBM card?
Nite Shipslog

My brother Odis in front of dad's 1941 Chevy. That car was the back drop for many family pictures.



Turbo Tax handles it all for us, simple, fast and efficent.

Lisa said...

I have a cousin (pace tax) that does ours. Most people just turn theres in and pick them up when hes done. We will sit at his desk and wait. We like to know the loop holes and new rules each year. We talk and we learn things. Im glad we got ours over with. So far we still come out on the winning side.

Have fun

betty said...

I don't remember filling out the taxes on the IBM card. Up until marrying hubby, I did my own taxes. It was easy. But then him being self employed created different forms needed so we he had gone with H and R Block since he started working so we just continued going with them over the years. It can add up depending on what forms you need to use for this or that but in the long run I've been nothing but pleased with how they have done the paperwork over the years. Its easier now that it is on a computer with the software provided. Less time consuming. I want to get all that we can get back, but I also want to make sure we pay what we need to pay. Both hubby and me have set our with holdings as basically single with no dependents. We did that not to have to pay (or pay much) during years of our different self employment times. Now we look at it as an advantage of getting a considerable tax refund to be used for projects we won't diligent about saving for during the year (this year's goal fence around the pool as well as new gates on both sides of the yard :)


Glenda said...

When we met in 1960, at eleven I was doing my Dad's tax return. All these years later, am headed to a bookkeeper today to get mine done...last year I filed on line and there was a mistake. Learned my lesson :) Have a happy Monday y'all. p.s. Sherry's gardenia survived the trailer haul to Jensen Beach yesterday, the ficus almost didn't. Wind was whipping and it flipped over. My Cuban buddies following the "girls" couldn't do a thing about it:(

I'm mostly known as 'MA' said...

Hard to believe it is tax time already. But they say that nothing is certain in life but death and taxes. Hope you have a great day and don't let those tax forms get you down!

shirl72 said...

It is time to let the Government know how much money we made. Until it is done and mailed we can't relax. I think we have all paid enough and they should let us slide sometime.

Mevely317 said...

After working for a CPA for so many years, I'm embarrassed not to know more! I was reluctant (and yes, somewhat suspicious) of Turbo Tax at first. Now, I don't know whatever took me so long!

Dar said...

Before retirement we always went to H&R....expensive sometimes balancing yours, mine and ours kids. Now that we are Re-Tired again, we have ours done by AARP reps. that do them for free in one of the credit unions board rooms. Works for anyone over 50 and we oldies. Anything to save a buck on a limited budget.
Love from our rainy day north. If it rains all night, our snow will be gone. That works for me.