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I used to run a company in Lithuania and now am a simple employee in US. It took me about 10 minutes for monthly tax filings and 30 minutes for the annual tax
by JAlexoid 6y ago
I used to run a company in Lithuania and now am a simple employee in US.
It took me about 10 minutes for monthly tax filings and 30 minutes for the annual tax filing for my company and 4 employees. I did not have an accountant - I didn't need one.
It is a nightmare filing taxes in US, even paying $300 to Intuit. It takes about a week of my time... for something that is supposed to be automated. I also never manage to get the tax calculated correctly in advance, because no consumer facing tax company will bother with you before you get your annual statement(W2). I have a very variable income - RSU's and other optional income... so I get hit by underpayment fee from IRS.... and don't get me started on the fact that every state has their own tax authority...