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> I'm curious how you know they aren't cheating you somehow? How do we know that now, in the US? I don't know the details of tax calculations; I get money dedu
by digging 3y ago
> I'm curious how you know they aren't cheating you somehow?
How do we know that now, in the US? I don't know the details of tax calculations; I get money deducted from my paychecks, I pay a website so I can copy information from many confusing forms onto one confusing form, and then I get some money. It's inscrutable to most people.
And frankly, the for-profit system is currently cheating us, so...
- renlo 3y agoI think PP is saying that the government won't know what deductions to give you if it's a "one-click file" system. Sounds like the proposed solution by the IRS won't be a one-click file system, but something like TurboTax where the filer can elect their own deductions.
- latchkey 3y agoMost things involving money are intentionally set up to be confusing. The pet insurance scam is a great example of that. 99% of the time, you're better off putting that money into a savings account and letting it compound a bit against inflation. Tax laws are insanely complex. Even if you hire an accountant, chances are they are going to miss some deductions or not optimize things perfectly for you. Especially given their whole business model revolves around getting as many clients as they can and being overly busy just a few times a year. If you really want to be sure, you have to learn this stuff yourself. There are a lot more people willing to take money from you than there are to help you keep it.