The Tax Authorities Lie!

I've been doing my taxes.

It's a laborious chore I face every year (like most people do), and I know that I have to set aside 7-10 days to get it all done.

You might ask why it would take 7 to 10 days to do taxes but when you have to do the bookkeeping and tax calculations for four small businesses of my own and one that is Mrs. Denmarkguy's it quickly adds up, time wise.

Lie number one, of course, is that there are estimates on how long it takes to complete certain forms and processes for the tax authorities, and they usually say something like "this form will take 15 minutes to an hour to complete" or "this form will take three to six hours to complete."

My experience has been that doing taxes takes approximately 70-100 working hours, all told. That is not a match for any of the many completion estimates I've seen... other than maybe for mid-size corporations and so forth.

But I don't have a staff of minions to do this stuff so I'm on the hook for it all by myself.

Lie number two, of course, is that if you are not making much money you don't owe taxes. Well, maybe that is true to an extent but if that is true... why is it that if you're making as little as 600 US dollars a year you still have to spend all the time to document that you don't owe taxes?

In the end it gets us right back to the 70-100 hours wasted doing paperwork.

But of course that in and of itself is also a lie because I do owe taxes even though our net taxable income for the year might only be about $15,000. The thing is, we're still going to have to pay something on the order of $1,700 in tax.

Why on Earth would that be the case?

Well it's the case because there's something called "self-employment taxes" that have to be paid... which is essentially paying into the government pension plan which most likely none of us will ever see because they will run out of money before we can claim any.

I won't get into a lot of details here, but it basically has to do with the fact that more and more people are getting old and fewer and fewer people are working, and the program itself is funded out of current revenue rather than out of accumulated savings.

Anyway, there are ways in which I am actually grateful that Mrs. Denmarkguy and I are both getting older, meaning that we are starting to qualify for discounts and price reductions offered to so-called "seniors" over 55, or over 60, and so forth. It's not much, but it all adds up.

I suppose a lot of people are facing the broader issues that what they were told they would need to retire when they were young has turned out to be not nearly enough, given how much the price of everything has risen over the years. And so we also face the difficult decision of not being able to retire at all.

But that's a whole different story! I need to get back to my taxes because I only have another five days before it's all due and has to be sent in!

Thanks for stopping by, and have a wonderful Sunday!

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2026.04.11 23:59 PST
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