Comments on: Tax Law Changes – Government Improvement Series

By: Tax Law Changes

Tax Law Changes — Wed, 17 Jun 2009 15:20:39 +0000

This article misses the point. Tax breaks aren’t about helping citizens save on their tax bill. It’s about the government exerting its wishes on the market by affecting prices. thanks for article.

By: DDFD @ DivorcedDadFrugalDad

DDFD @ DivorcedDadFrugalDad — Mon, 08 Jun 2009 13:02:25 +0000

Government should take a lesson from the frugal– cutting spending is easier than raising revenues . . .

However, politics is an upside down world where it is easier to raise taxes, than to cut entitlement and pork programs . . .

By: MoneyNing

MoneyNing — Sun, 07 Jun 2009 05:24:30 +0000

Tax planning and advising? What is that about since I don’t think anyone has ever given me advice that lasts more than the next estimated payment date.

I would imagine that the simpler the tax code gets, the smaller the client pool and the better prices we will get I look forward to that day!

On another note, waste with something related to government? What’s that?

By: ObliviousInvestor

ObliviousInvestor — Sat, 06 Jun 2009 21:20:09 +0000

Also, any tax accountant who has even the slightest interest in what’s good for the country realizes that the complexity results in waste.

All that money that gets spent on tax compliance is pure waste. It’s money that, essentially, taxpayers are spending on taxation, and yet it never shows up in the government’s pocket to be able to fund worthwhile services.

By: ObliviousInvestor

ObliviousInvestor — Sat, 06 Jun 2009 21:17:25 +0000

If it was simplified to the point that everybody prepared everything themselves, then we’d get to focus exclusively on the fun part–tax planning/advising.

Also, there would be numerous degrees of simplification that could occur before we’d reach a point anywhere near that at which everybody would want to be doing their own returns.

By: Mark Wolfinger

Mark Wolfinger — Fri, 05 Jun 2009 18:39:17 +0000

It never ceases to amaze me that people

a) Hate paying more taxes. To me the more I pay, it means the more I’ve earned

b) Think that a larger real estate tax deduction is a good thing. As you say, the larger the deduction the higher your taxes. That means more cash out of pocket.

Why don’t people get this?

By: MoneyNing

MoneyNing — Fri, 05 Jun 2009 16:02:27 +0000

Could you elaborate on why accountants would want to simplifying the tax code since their job is dependent on it? For example, if we can all do it ourselves, doesn’t it eliminate the personal tax preparation industry all together?

By: MoneyNing

MoneyNing — Fri, 05 Jun 2009 16:00:30 +0000

Good for you. It’s nice to hear that when they audit you thinking that you OWE money, you actually GET some back!

By: ObliviousInvestor

ObliviousInvestor — Fri, 05 Jun 2009 15:45:14 +0000

You might be surprised how many tax accountants are strongly in favor of drastic tax code simplification. (Example: me!)

By: marci

marci — Fri, 05 Jun 2009 15:29:38 +0000

Like you, I continue to pay my tax man (of 30 years) to do my taxes. There’s just too much to miss or mess up – especially those foreign tax credits that carry forward and such. And the rules change every year! I consider it money well spent – and if you’ve ever gone thru an audit (I have 3 times) it’s soooo much better to have the tax man work with the IRS and you just have to send the backup paperwork to the tax man and NOT deal with the IRS directly. And, by the way, I won all three audits – well don’t know if ‘won’ is the correct word, but when you get additional money back from the IRS I think you win