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So. What is this really about? Doing taxes or getting old?
I am old but love doing my taxes. I wonder how that happened.
I have not always been old, but I have always loved doing my taxes.
Methinks sometimes our dislike for something makes it that much more difficult to do.
I have never disliked it the way I despise it now - and I think it's because I've lost tolerance. I would just rather be doing so many other things and I can't escape this chore.
Title says it all. I can't stand getting my taxes ready for my accountant. I have rental properties so have to include all of the expenses and it's a pain in the booty.
I am just SICK OF IT. I hate it. It takes literally days - I feel I have to list everything; recap everything. Ugh.
I'm in mid-old-age and just wonder how much longer I can possibly do this and also how other old people do it.
I get it. You can choose to change that if you want... only if the pain is greater than the cure.
Sure, but I wouldn't say that has much to do with retirement. I've been aging ever since I was born and have been an adult for a lot of years. I can talk/coerce/wheedle/rationalize/push myself into doing things I don't enjoy. To some degree "use it or lose it" applies, but if I start making more and more mistakes attempting to do whatever it is, maybe that's a good sign it's time to stop.
My disdain for this chore has nothing to do with "retirement," but it does have to do with old age in that I have lost tolerance and resiliency and I know time is short and I'd rather be doing other things.
I am also not as sharp as I used to be, so it takes longer to figure out how I will do it - the balancing is also more tedious. It's just not fun.
And you say if you notice you're making mistakes, it will be time to stop - but that's just the thing - I can't ever stop because it has to be done and no one else can do it. That's why I wondered how other old people handle these tedious chores when they "can't" do them anymore. I've never heard any old people talking about this, but everyone has to pay taxes.
Not too many years ago when I was still working full time, I did all of the taxes myself - now I'm just doing the prep - it feels akin to doing a colonoscopy prep to me!
And I used to work in accounting way-back-when and have a knack for it.
I gave up doing my own taxes when I got into an infinite loop of forms one year. You know the path where one block says "enter amount from worksheet X unless worksheet Y is different" kind of thing. They you go to worksheet X and Y and will say "enter amount from schedule z except ..." Then you go to z and it refers you to form 10,999, and eventually you get back where you started without a clear answer of what number to put in. Finally just hired a CPA and enrolled agent.
I have never disliked it the way I despise it now - and I think it's because I've lost tolerance. I would just rather be doing so many other things and I can't escape this chore.
I can certainly sympathize. Until a few months ago I was "burdened" by a large home and 15 acres to maintain by myself. Now I have downsized and simplified and have much more free time to do the things I love to do. And also lots more money as I made a huge profit on the sale.
As a friend recently reminded me, health comes first, then happiness. After that things should be relatively easy. I am 76 and it is hard to believe just how happy I am. I don't know that I have been this happy since I left home for college at 17.
In any event, I second the comments on TurboTax. Have used it for many years and have never needed an accountant. Last year in Virginia was a bit messy as I had some 1099-Ks, and this year North Carolina is a bit more complicated than Virginia, but with a bit of patience I got everything filed earlier this week.
Title says it all. I can't stand getting my taxes ready for my accountant. I have rental properties so have to include all of the expenses and it's a pain in the booty.
I am just SICK OF IT. I hate it. It takes literally days - I feel I have to list everything; recap everything. Ugh.
I've simplified my investment portfolio as I have gotten older.
As a result, all my income is reported on W-2 and 1099's. I no longer have K-1 forms. I have found that this greatly simplifies preparing my annual tax return.
Also, since moving to a state with no state income tax, it is more beneficial to take the standard deduction rather than itemize deductions on Schedule A. So- no need to track charitable contributions' receipts, mileage to medical appointments, or other expenses that would have been deductible had I continued to incur state income taxes.
I use TurboTax which fits my simpler financial situation very well.
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