Anyone get depressed/emotional/stressed around tax deadline time every year?

[Reload]

I feel that having to file my tax return every year can result in a lot of emotion. You go over how much you made, you see how much went out the window, you realize you're just not making enough, you feel like your tax credits and deductions don't help as much as they should, etc. Then even if you get a refund, it feels like it's not enough for all you've had to go through. And if you have to pay, that always makes everything feel worse.

What does everyone else go through? How do you feel?

 

[BGS 9.5]

Re: Anyone get depressed/emotional/stressed around tax deadline time every year?

I DO THIS FOR A LIVING, AND I CAN'T BEGIN TO TELL YOU THE STRESS INVOLVED, ESPECIALLY IN APRIL...

 

[Reggie Dunlop]

Re: Anyone get depressed/emotional/stressed around tax deadline time every year?

I DO THIS FOR A LIVING, AND I CAN'T BEGIN TO TELL YOU THE STRESS INVOLVED, ESPECIALLY IN APRIL...

Pissed off and annoyed are the words that I would use.

 

[The General]

Re: Anyone get depressed/emotional/stressed around tax deadline time every year?

It is just one of those things that I can't get excited about so I usually wait till the last minute, return or owe.

 

[texansfan]

Re: Anyone get depressed/emotional/stressed around tax deadline time every year?

I do my taxes in early February and get it done with. Got my refund about 7 days after filing.

 

[kinosh]

Re: Anyone get depressed/emotional/stressed around tax deadline time every year?

Taxes would be fine if the companies would send out their 1099s on time. Just last week, I received a 1099-CAP for 2007. Now I have a week to figure out what this is all about.

If there are any CPAs out there who know anything about the Argonaut/Argo Group (taxable?) merger, I have a few questions for ya!

 

[cassiusclay]

Re: Anyone get depressed/emotional/stressed around tax deadline time every year?

i have a small ebay business that has been steadily growing. i incorporated my earnings into my tax returns this year based on the fact that i think the irs is going to start hammering "ebayers". even though the business is small i don't want to be the guy in the cross hairs. tax time blows!

 

[Woody]

Re: Anyone get depressed/emotional/stressed around tax deadline time every year?

I do it as soon as I get my documentation so I can get my refund as soon as possible. Being retired the government takes a fixed percentage from my private pension and even though I elect to pay no tax on my government pension I still get a refund. I hate giving them a free loan.

 

[Jeff Jones]

Re: Anyone get depressed/emotional/stressed around tax deadline time every year?

Anyone get depressed/emotional/stressed around tax deadline time every year?<!-- google_ad_section_end -->

Only if there are games to bet on that evening.

 

[BGS 9.5]

Re: Anyone get depressed/emotional/stressed around tax deadline time every year?

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[ktb]

Re: Anyone get depressed/emotional/stressed around tax deadline time every year?

I used to always look forward to getting my refund. This is the first year I owe additional tax (sold some stock I have held long term). I got pounded by the market as when I sold the stock I reinvested the profits into more stock, and we all know how that has worked out in the past few months.

I could sell all the stock I purchased with my proceeds, and it still IS NOT ENOUGH to cover the capital gains tax that I owe.

I have to decide this weekend whether or not to pay my bill using my home equity line, or selling some additional stock that I hold (which of course will trigger capital gains for next year!)

You could say I am pissed/depressed/sick/etc

 

[BGS 9.5]

Re: Anyone get depressed/emotional/stressed around tax deadline time every year?

I used to always look forward to getting my refund. This is the first year I owe additional tax (sold some stock I have held long term). I got pounded by the market as when I sold the stock I reinvested the profits into more stock, and we all know how that has worked out in the past few months.

I could sell all the stock I purchased with my proceeds, and it still IS NOT ENOUGH to cover the capital gains tax that I owe.

I have to decide this weekend whether or not to pay my bill using my home equity line, or selling some additional stock that I hold (which of course will trigger capital gains for next year!)

You could say I am pissed/depressed/sick/etc

Don't feel bad, the days of 15% LTCG may be done soon, you did well....

 

[Rxx]

Re: Anyone get depressed/emotional/stressed around tax deadline time every year?

I used to always look forward to getting my refund. This is the first year I owe additional tax (sold some stock I have held long term). I got pounded by the market as when I sold the stock I reinvested the profits into more stock, and we all know how that has worked out in the past few months.

I could sell all the stock I purchased with my proceeds, and it still IS NOT ENOUGH to cover the capital gains tax that I owe.

I have to decide this weekend whether or not to pay my bill using my home equity line, or selling some additional stock that I hold (which of course will trigger capital gains for next year!)

You could say I am pissed/depressed/sick/etc

you should be so lucky. i have more long term capitol losses than i will be able to use for the next 10 years. I dropped, and i am not kidding, 800K between 2000 and 2003. I would love to back in time, sell those stocks ahead of time and pay the capital gains.

i bought into the line "buy and hold," that was wrong. it was a tough lesson to learn.