bill_schubert: (Default)
[personal profile] bill_schubert
I'm ready to do my end of year financing. Really curious about how investments fell out and where I actually stand and to get set up for the new year. And, since I actually made all my estimated tax payments, I'm more motivated than usual to do my taxes and see how things fall out. Last year I had to pay a penalty having not sent in any estimated taxes. This year might involve a refund but I doubt I'll owe any more.

So I think I'm going to have to report my Prolific money. I bought Ethereum with it. Only a couple of hundred bucks worth so it will fly below their radar but it is recorded and I'll get a statement from PayPal. Crypto gets a lot of attention now days. I've got $40 or so in short term capital loss with it. I'll likely report all the gains and losses as it is not so much either way and will be sure I stay clean.

I'm interested how much the IRS will be using AI. We'll likely never know but in the past I've depended on being a very small minnow. It worked for years. I've never been audited even after starting a couple or three businesses and having a self directed IRA. Hell, I'd have audited me. But what seems like a lot to me is not even chump change to them. BUT with AI it is way more efficient and zero manpower. I've always thought that CPAs will soon be overtaken by AI. Tax returns would seem simple to such a system as they have on hand now days. Which means no one is too small to merit scrutiny.

With the new administration things will be in such chaos that who knows what will happen.

Date: 2025-01-15 14:21 (UTC)
siglinde999: (Default)
From: [personal profile] siglinde999
Some places seem to be moving towards having the tax people do more of the work for you. It makes a certain amount of sense, though we have all kinds of deductions (medical, living in the far north, volunteer firefighter expenses, maybe even charitable donations) that complicate the paperwork. The people who would benefit most are those who have little or no income and don’t file because they don’t think they need to. In fact, if they file they are often eligible for Old Age Security, dental care, child benefits, etc. I think that had been part of this government’s plan, but I’m pretty sure it won’t survive the next government (assuming elections go as badly as I fear).

Profile

bill_schubert: (Default)
bill_schubert

June 2025

S M T W T F S
1 2 3 4 5 67
8 91011121314
15161718192021
22232425262728
2930     

Most Popular Tags

Page Summary

Style Credit

Expand Cut Tags

No cut tags
Page generated Jun. 10th, 2025 14:20
Powered by Dreamwidth Studios