Sunday, March 23, 2014

SOLC 2014 Day Twenty-three: Taxing words


Filing status; separate/ joint.
Death, birth/adoption, divorce, job change.
Dependents.
SSN--Social Security Number.
Income; W-2.
Medicare tax paid.
1099-INT.  1099-DIV.
Bank statements.
Savings.  IRA.  401K.  Retirement accounts.
Cafeteria plan.  Flexible spending.  Medical expenses.
Tuition expenses.  Student loan interest.
Mortgage interest.  Home improvement.
Real estate taxes.
Sales tax.  Major purchase.
Charitable contributions; cash/material donations.
Itemized versus standard deduction.
Child tax credit.  Earned income credit.
American Opportunity Credit.

(I worry about low-literacy populations during tax season.  Does taxation without representation still exist, for those who cannot read?)
                                                      
                                                      


4 comments:

  1. And this is why I gave up doing my own taxes. Even Turbo Tax could not explain some of the items to make sure I put it in the right place.

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    1. I know, right? I just hope my efforts get us the refund we're truly due!

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  2. Wow. I have never thought about it in those terms. I don't do my own taxes, which, I know, is truly a privilege in and of itself. Clearly, now, I also know how much I take that privilege for granted! Yikes!

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    1. Each year, it seems to get more complicated, and each year, I wonder if it will be the last that I do it on my own. And I consider myself to be a literate, fairly intelligent person! I'm also not the type of person who thinks of "tricks" and "loopholes", and it seems there could be a lot of those with taxes.

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