Investment

» allancoleman - owe tax

I am kind of a " numbers " guy , permabear . I ' love ' counting my money . ... or lack there of so far this year . . Actually my wife is our tax expert and has done them by hand without a computer or accountant for decades now even when we had five rentals in four different cities in two different states at one time all with different depreciation schedules . Used to take her weeks and months to get our taxes done in the past . I was the first to get computerized due to my corporate job when I was employed when I was given a laptop by my company and I haven't looked back since . Although the wife doesn't like to depend on TurboTax , she can appreciate how quickly TurboTax can fill out a IRS worksheet automaticly from our return that used to take her hours to do . And I love playing with my TurboTax for my tax planning . By the time I get done fudging my numbers every which way but outright fraud , I get a real good idea how our tax code works . I really like plugging in a really outrageous number into a line item and then push ' enter ' and see how the bottom line changes .

So far the couple of times I've had to deal personally with the IRS , I've won all my arguements even the one I took clear to Washington , D.C. decades ago . Like I said , I usually don't try anything tricky or a really big deduction that'll stick out unless I've got all my 't's crossed and 'i's dotted to back up the return and on a return like that I'll actually attach my additional back up data to support that particular line item . And now with TurboTax's automatic " audit " and " error " feature , it's really hard to file incorrectly .

-- posted by allancoleman