King Rat (gkr) wrote,
King Rat
gkr

Taxes

I spent 3 hours tonight and did my taxes. I'm still not sure how everything from an LLP Schedule K-1 should be handled, and the tax preparation software I'm using didn't have spots for every item on the K-1. I don't think any of them will make much difference though. Anyway, I will need to write a check to the I.R.S. for $2,100 this year. Which is a ton better than last year. Though mysteriously the software was reporting I would pay $350 more for a long time and then it jumped to $2100. I'm not sure what it was that made it jump. But I looked over the numbers and $2,100 appears correct.

Anyway, now I sit on it for a few days in case something comes up that makes me realize I screwed something up. Then maybe I'll file it on Sunday.

Have I mentioned how much I hate doing my taxes? I probably did last year. I hate hate hate hate doing my taxes. I have no problem paying the money. I just wish the forms weren't so arcane. The partnership K-1 for instance. Or the rules on exercising stock options that require me to report the income as part of the W2 but also the option exercise on my Schedule D, with the odd way of entering the stuff on the Schedule D for options thrown in to boot. I could spend a couple hundred to have someone else do this, but I'd still spend the same amount of time assembling everything that I do now. TaxAct does pretty much everything a tax preparer would do, with the exception of the confusion over the items above.

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