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The week's question
In December 2024, in the thread "Re: BRK: Why Not XOM?", BreckHutHigh asked the members: "What about the long road trips with kids?" This week it is put to everyone again. The button below opens the small thread re-asking it - read what others have said so far, then give your own answer as an ordinary reply.
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Personal Finance / Tax Strategies
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Author: onepoorguy 🐝  😊 😞
Number: of 80 
Subject: Re: Taxes and Retirement, oops
Date: 03/29/24 1:31 PM
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They seem to get it right more than not. And as long as there is a manual option (i.e. if I can file a return if my situation is different), then that should cover most objections. For the vast majority of USians who get the standard deduction (i.e. don't itemize), work a W2 job (or even a 1099 job), and don't have any special circumstances, just issue a bill and be done. There were some times it wouldn't have worked for me, like when I had a graduate stipend (reporting that was complicated, and I got a letter every year for four years even though I was right). We also hit AMT two or three years in a row. I used to itemize with the lower standard deduction, but since that was raised during the Trump years, I never hit the threshold to itemize.**

Intuit (Turbo Tax) would hate it, but that's their problem.

If someone wants to (or needs to) do their taxes the hard way, fine. But I think they should still send a bill with a completed 1040 for the taxpayer to review. If the numbers look right, just send a check and be done.

**To his credit, that simplified my taxes A LOT. I don't have to add up any donations or medical expenses, because we won't be anywhere near the level that would benefit from itemizing.
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