I’ve seen multiple posts complaining about schools not teaching them to do taxes. Honestly, is it thaat hard?
By - helplessdelta
This depends entirely on what sources of income you have available to you and what deductions you're eligible for.
For most wage earners, it's not that difficult.
But for people that own a business, are self-employed, cashed in on investments, own property, have made charitable donations, would like to deduct business expenses, etc etc, it becomes increasingly more complex.
When the stakes are get it right or violate federal law, it would behoove us to make sure everyone understands how to do it from jump.
No, it’s not.
Mathematically, it's not that hard. But I think people get intimidated, because people get this idea if you make any tiny mistake the IRS is going to send you to jail.
It's not hard. Even easier when you consider the fact you can learn anything online these days. There's probably a YouTube video that's walks you through it.
Thank you. I thought tax system in the US was extremely complicated compared to the rest of the world. It’s pretty basic where I live.
It is very complicated, just not for everyone.
It can be very complicated if you’re a business owner/independent contractor, mixed income, complicated family finances, or anything even slightly deviating from just plugging numbers in from a single piece of paper. if you’ve got a standard W2 then no, it’s pretty straightforward .
If you don’t have a computer or reliable access to the internet, it can also be extremely hard, esp if you’re rural or inner city where there are few resources.
Also of people feel intimidated by it, and having it introduced in school would help overcome that hesitance and perceived incompetence.
Now it looks complicated. I’m not really aware of the system of taxes in the US. Was genuinely curious about how complicated it can be.
It's not hard at all, but there are a lot of people who would never consider googling "how do you do x" and doing it themselves rather than paying someone else to do it.
Yeah that makes sense. I didn’t think it could be so difficult that it can’t be figured out unless you’re super smart. The memes had me a little confused.
Well, I think the main difficulty is that people just don't want to read the instructions for anything. They want a highly intuitive system, and it's not intuitive to a layperson. I'm not saying I like the system we have at all... I'm just saying the amount of fear and trepidation over doing your taxes in the US is ridiculous.
My brother had to deal with tax fraud by his employer (he was a full-time employee who had received training and a uniform but his employer did their taxes as though all their employees were independent contractors) but beyond making some time-consuming phone calls, didn't suffer for it. The IRS employee responsible for collecting the taxes they mistakenly thought he owed said to him "My next largest account is $120k. You are not a concern to me," after my brother made his first panicked phone call to him (I think they had sent him a letter saying he owed, like, a couple thousand dollars). And even if you make a mistake filing your taxes, you can usually amend them. So this whole "high stakes" mentality is pretty flawed.
It’s not hard, people are just more annoyed with the fact that school teaches you useless shit like Polynomials and Pythagorean Theorem all while avoiding things like taxes, how to apply for jobs, how to do very basic life shit.
Just go to H&R Block. I have been going to them for about 15 years and spent about $4,500 in Tax preparation fees, but gotten about an average of $6,000 back a year so about $90,000 from the feds and state. I love it!
Schools teach people how to learn so they can read how to do their own taxes. If your taxes are so complicated that a decent high school education didn't give you the skills to figure out, you should probably hire a professional to do them.