On individual tax returns

Tony Infanti has an abstract on a paper about changing the way we file our income taxes, with a link to the paper, too.

I don’t file until the last possible moment, but in a few months? I shall start thinking about this.

Published by datingjesus

Just another one of God's children.

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15 Comments

  1. DJ, with your moves and all this past year, I hope you get yourself a good CPA. They’re worth the money.

    Mine has a deadline of March 24.

    “Tax deadlines in this mirror are closer than they appear.”

    1. I used a really good guy last year and will probably hound him again this year. He’s the soul of patience with the DJ Enterprises, whose bookkeeping capabilites are, well, nil.

  2. Definitely not looking forward to this. I liquidated my next to last IRA and incurred moving expenses related to a new full-time job. I thank my lucky stars for online tax prep and e-filing.

    Isn’t it funny that so many of the same people who want to eliminate the paperwork burden on corporations and wealthy individuals by instituting a flat tax and a simple one-page tax return, are vehemently opposed to doing the same thing–eliminating or at least simplifying all that paperwork–for health care?

    1. I am not opposed to paying taxes and I never have been. What I hate-hate-hate is filling out my tax return. I even hate-hate-hate having someone do it for me. I believe here again my hillbilly is showing. Damn revenooers.

  3. Sharon, moving expenses because of a new job is tax-deductible item. You have to have moved a certain number of miles and your new job has to be a certain number of miles from the old one, but it can be a very healthy deduction.

    1. Yep, moving 2 states away surely qualifies. I just hope it’s enough to offset some of the penalty for the IRA early withdrawal.

  4. You can deduct, I think, expenses in looking for a job, house-hunting expeditions, meals on the road, and the like.

    It’s been a while for me.

    BTW, “meals on the road” doesn’t mean road kill, which is a separate category.

  5. Since “Traditional” families are now a minority in America, It is to everyone’s advantage to change the deduction for married couples filing jointly and extend it to everyone. It is not in the Governments interest to change it now, as they will lose revenue.
    Should there be a public outcry and the tax code is changed, the IRS will find a way to collect the same monies using a different tax rate or removal of a current deduction. It’s a zero sum world at the IRS, especially in light of the Governments recent spending spree.
    Wifey is a tax accountant. She has saved many people lots of dough by knowing how to use every deduction available. Try your own at home or on line, then go to Liberty Tax and they will check you return for free. If it is good, thank them and file it yourself. If you didn’t take advantage of all that you are “entitled” to, pay up!

    1. “Wifey” should run you through with a sword for calling her that. What does she call you? Wait. Never mind. How does she keep up with the tax code? It appears to me it’s always, always changing.

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