Get ready for a fun tax season
10There is an old saying “The devil is in the details”. No truer words were ever spoken especially when referring to the changes that were made in the tax law for 2025 and therefore the applicable forms.
Although I took a seminar just days after the B B B/S bill was passed, lots of questions still needed to answered especially regarding where the changes would be made on the tax forms. Those questions were somewhat answered when the draft versions of the forms were recently issued. But new questions arose.
For those of you with a strong stomach, attached in form 1040 and new form 1040 sch 1a where most of the changes that affect most taxpayers occurred. The seminar I took today focused on those questions that were answered and new ones that arose due to the way the forms were designed.
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Sorry-pdf files won’t post-you can find them on the IRS website if really interested.
OMG can we not, I just filed 2024 last week!
@jouest you seem to have forgotten how time works
@pakopako I like to operate in my tax person’s off season. (yes I have a tax person and still file half a year late.)
We seem to have very different definitions for the word fun.
KuoH
@kuoh Well wouldn’t have been doing taxes (and been a CPA) for over 50 years if I didn’t like it or think it was fun would I?
Way back then before computers, printers and copy machines, did returns by hand using carbon paper (you know what that is?) to have a copy of the return. Now that was fun especially if changes had to be made.
@Felton10 @kuoh qhile cleaning out my mom’s office, I found three packs of carbon paper.
@Felton10 @ironcheftoni Yup, I’m old enough to have been processing credit card transactions with imprinters and separating the copies. The handwritten receipts had those too until they were later upgraded to the carbonless types. I suppose I would consider those fun days now, even though I was just a kid and going to work didn’t seem like much fun back then either.
KuoH
@Felton10 @ironcheftoni @kuoh i loved playing with the carbon paper from my dad’s office. It wasn’t often that I would get to, but it was so neat!
@Felton10 @kuoh the no fun part back in the days of credit card imprint machines is a purchase over a certain dollar amount had to be called in to the card company for approval. Many times there was no issue but there were those few that got declined. 🫤
Eeeeeeeerggghhh
I’m hoping this year is relatively simple for me and also in doing my mom’s taxes. First year with just her on the return since dad passed in march 2024. Also since she moved into senior living and all the mail is coming to me, no more tracking down where she hid the 1099’s
Interesting tax facts… my folks threw NOTHING away. Last time I was at her house, I pulled forty boxes out of the attic to take to get shredded. Every canceled check, every bank statement, every investment transaction for at least 50 years including every tax return beginning with the year my folks got married, 1958. They got back $118.
@ironcheftoni I had a friend who inherited his brother’s house and everything in it. I went to help clean him stuff out and his brother did the same; even had all the paystubs he’d ever earned from his very first job.
@Kyeh I can certainly relate. My folks ran a mobile home park and self storage business for 45 years. All records were kept on paper and they kept all of that too. Back in the day I tried to get them to sort of modernize and wrote a little powerbuilder application to track income and the property. But mom refused to use it because she couldn’t “touch” the records.