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progree

(11,811 posts)
7. It's something I HAD to do in order for the taxes to get done right most years
Thu Mar 2, 2023, 01:53 AM
Mar 2023

I don't have the assurance it's done right unless I check every freaking number, and most years I found one or two things wrong. And as I mentioned, getting a couple obscure tax breaks. Well one was minor (just an $8,000 deduction spread over decades), but the other is a deduction averaging more than $1,000/year since 2005 and continuing -- this year it's $1822. Both these deductions are ones one gets whether itemizing or not (they aren't Schedule A deductions).

Edited to clarify I don't actually "check every freaking number" as I said in the first sentence above, but rather I check every input number, making sure each one got in correctly and ended up on the right form. But no, I don't check all of the calculated numbers, as there are tons of tons of intermediate calculated numbers. I do have a spreadsheet though that separately calculates the key numbers as a check and a planning tool.

Some of us enjoy tax policy and so we learn about taxes along the way. Some of us enjoy being in control of the process instead of faith-trusting someone else (and then finding out that they make mistakes like all humans).

I do not do this to save a $100 or so, that's just a very minor bonus. I do it to save myself time. I wouldn't do it this way if it wasn't saving me time.

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