Dec 30 2008
Tax season approaches
I advise anyone who does their own taxes and has some money tied up in investments to make sure they understand all the deductions they may have coming due to the Wall Street debacle.
The tax prep firms out there say people pay significantly more than what they are supposed to pay. I think the reason for that is people choose to use the EZ form to file assuming if they get a little back they’re doing good.
In fact they should be getting more back. In my hometown there are a lot of elderly and hispanics who may not understand the ridiculously complex and overbearing tax code.
And the IRS is like Wall Street…they are happy to take too much of your money without a shrug but if you owe them a dime, look out!
Make sure to understand you taxes and maximize your returns. Both the IRS and the Wall Street scumbags can do fine without getting overpaid.