We recently made a fairly large donation to a children’s hospital to support a specific research program. They directly told us that the highest-impact way to deploy the funds would be to pay lobbyists to try to get earmarks injected into federal bills. Like, >10x expected ROI.
Not all lobbying is straight-up mustache twirling. But it definitely left a bad taste in our mouths.
That kind of is mustache twirling. Instead of spending your donation on research, they would use it to divert money from some other cause to their own. Your donation may harm a different - and possibly more deserving - research program.
I think GP’s point was that the vast majority of individuals have taxes that look like “one W2, maybe a couple 1099s, and standard deduction.” Many of these people have been scared into using a CPA when they really just need to plug-and-chug a few numbers into tax software.
As soon as the words “passthrough LLC” (or “farm” or “S-corp” or “itemize”) are on the table, it’s usually worth it to pay $1,000 for a professional, assuming your time is worth something.
Exactly. Tax complexity drives the CPA / tax prep need.
That said, there is a huge swath of America that's being preyed on by strip-mall tax prep, who derive zero benefit from it. (And an industry whose profits ultimately trickle up to the tax prep software companies)
I was blown away when I learned one of my wife's friends, who has a single W2 and some bank interest, pays H&R Block every year to file her taxes! No stocks or rental income or IRAs or anything else that could complicate things. But still she, and millions of Americans, pay these companies to fill out what amounts to a single form. Eye opening.
Entering a 1099-B for stocks is dead simple, you enter in a few numbers (cumulative buys, sells, and wash sales) and you’re done. You transmit your trade history to the IRS digitally.
It takes me about 20-30 minutes to enter a W2, 1099-INT, 1099-B, 1099-B (futures) and a 1256 (straddles and index options) into FreeTaxUSA every spring.
Just like every other company, HR block sells emotions, not a product. The two emotions are: not getting in trouble with the IRS, and getting a good deal (with whatever advantage the HR block employee can find applies to you). Maybe also not having the stress of having to learn how to do your taxes. (WTF is an AMT?)
Two of the best things I learned in French class (which was basically “Parisian culture of 1982” class) was that “impossible” in French meant “I don’t feel like it”, and if someone shrugged in a way where the edges of their mouth touched the top of their shoulders, you were shit out of luck with whatever you were asking for.
Off-topic but that reminds me of the quote from "Stand on Zanzibar" where 'impossible' is defined as IIRC "1) I can't be bothered or 2) I don't approve or 3) God can't be bothered"
You can log in to your CC instance however you like, including via Pro/Max. Happy just wraps it and provides remote access with a much better UI than using a phone-based terminal app.
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