posted on April 16, 2008 06:35:35 AM new
I went to the post office to mail mine on the 14th. Expected it to be packed. My first shock was that there were several open spots in the parking lot. On any other day I usually have to park a block away. Next shock, there was no line even though there was only one open station. What does this mean? Was I in an alternate universe? -----o----o----o----o----o----o----o----o
“The illiterate of the future will be the person ignorant of the use of the camera as well as of the pen.”
Maholy-Nagy, Vision in Motion, 1947
Why would you expect it to be crowded on the 14th?
Heck, that's the day that I finally RECEIVED my wife's K-1 (a reporting form for limited partnerships, like a W-2 or 1099 but for partnerships).
So, after faxing the form to the accountant, he managed an estimate of tax liabilities, and we got to file extensions on the 15th.
I don't mind paying my fair share of taxes. We don't have an outrageously difficult tax situation (although my wife works in two states). It is really wrong that it is so complicated that we pay a professional to do it. Instead of cutting taxes, providing loopholes, incentives, dis-incentives, etc., they really should simplify the damned tax code. I like our accountant, but what does he really produce that makes the world have more "stuff?" Better he should be flipping burgers; at least those add to my waistline.
While we're at it, this would be a good time to do away with the home mortgage interest deduction, tax breaks and subsidies for farmers, and a million other distortions of the tax code. As Warren Buffet has said, it is wrong that he pays a lower percentage of his income for taxes than his secretary.
posted on April 17, 2008 06:55:23 AM new
Cash,
My husband is an accountant and he earns EVERY $. He works 7 days a week (and evenings) since February on Tuesday night was the first evening he has taken off. He also has to put up with all of the clients saying "why do I have to pay so much taxes"? DUH, it is because you earned over $250,000.00! I understand your frustration, but believe me accountants do not charge enough for what they have to do and what they have to put up with. JMO
I think you misunderstood my point. I have no doubt your husband works hard for every dollar. My accountant works hard too. But, what is the value of the hours they work on complex tax returns? Does it add to productivity? What a waste of good strong minds and good work ethics to spend hours on spaghetti tax laws.
Better they should be redeployed to educate the next generations about saving, avoiding excessive debt, etc. Better they should spend time working with businesses, small and large, on non-tax related matters (budgeting, revenue enhancement, etc.).
My point is that the complex tax codes are an additional tax on all of us, both for the direct time & expense involved, and also because it diverts some of our most capable workers (i.e., accountants) into spending their time on artificial problems that don't benefit the economy overall in a rational manner.
BTW, I don't mind paying taxes, but I know many of my neighbors are paying a much smaller percentage than we are, but make many times more. That is because of the arcane and (IMO) larcenous tax treatment of hedge fund gains.
My father was an optimistic person. One time he proudly told me that he had paid more in taxes that year than he made, in total, 3 years previously. That to him was progress, and I bless him for it. I somewhat agree, but in the past decade or so, when I see my taxes wasted in so many ways, when I see hours of my accountant's time being wasted on minutia, when I seem to get penalties for mistakes in paying my nanny taxes (rather than thanks for being one of the few who actually does it by the book), when I see obscenely rich neighbors getting a free ride, etc., I'm no longer so happy.
To make it clear: I have nothing against your husband or my accountant. They fill a need, and presumably do it very well. My point is that it is an artificial need, and that their economic insights could be better utilized elsewhere.
posted on April 17, 2008 09:44:06 AM new
Thanks Cash for the clarification.
Better they should be redeployed to educate the next generations about saving, avoiding excessive debt, etc. Better they should spend time working with businesses, small and large, on non-tax related matters (budgeting, revenue enhancement, etc.).
My husband tries this stuff...IRA's etc..., most don't want to think about it and then get upset about sending Uncle Sam money. FREE WILL (what can you do)? The real problem is probably what the government does with the money they get. But that would cause tons of debate, I don't want to go there!
It just seems unfair IMO that the accountants and tax people get blamed for taxes. It is just a job, no different than anyone else's but believe me, they take a lot of crap!
Blaming the messenger is just silly. Why would I blame my accountant, with whom I've worked for over 20 years, for something he didn't create?
I'm glad that I clarified also. Actually, for the last 3-4 years of my corporate life, I worked as a cost accountant in Information Technology. I have no background in taxes, per se, or accounting in any formal sense, but I knew the I.T. side of the issues very well and learned/faked the accounting (with the help of some real accountants). I actually had a blast of a time. In our case, by more accurate and fair allocations of costs to the departments responsible for the costs, we were able to make better decisions and (ultimately) save money.
posted on April 17, 2008 11:05:39 AM newBlaming the messenger is just silly. Why would I blame my accountant, with whom I've worked for over 20 years, for something he didn't create?
I didn't mean you! It happens in the business, though. Kindof like taking frustrations out on the person collecting money at the gas station. YIKES, GAS IS UNBELIEVEABLE!
