Early last year I shared with you our budget for 2017, covering everyday items like income, livestock care, utilities, food, car repairs and more.
In the next few posts I'll tell you how we came out at year end. First though, I want to get our taxes done, a process I am looking forward to. Why? Because for the first time in over 25 years, our income is so low, our financial life so simply mundane, that we can complete the tax forms ourselves.
No more accountants. No more asinine tax forms like Interest and Ordinary Dividends (Form 1040A Schedule B), Capital Gains and Losses (Schedule D), Profit or Loss from Farming (Schedule F), Passive Activity Loss limitations (Form 8582) and so on.
"Passive Activity" I wonder what government entity came up with that oxymoronic form title?
Ah well, you get the point. In years past it would take us days and days to collect all our sales info and other farm related data for our annual meeting with our tax guy. We never really knew how we would come out as we could not keep up with the ever changing agricultural tax laws. Thus the reason we had a tax guy. Some years we had losses and paid less tax, while other years when we were more "successful", those profits went right back into some bureaucrats pocket.
This year we'll just hop on the TurboTax site where we can complete the 1040 EZ form FOR FREE.
We received the last W-2 Form for my small nursing pension just yesterday so tomorrow...is tax filing day.
I really am so excited and I just can't hide it!