Paying taxes sucks. But paying more taxes is not neccesarily a bad thing. When you find yourself paying more taxes, it usually means you are making more money. Making more money is a good thing. But I hate preparing taxes! I hate it! I used to sit down once a year with my computer and some tax software like Tax Cut or Turbo Tax, and start pluging all the numbers in. It was very stressfull. I remember when the software came up and told me I owed $5000 in Federal taxes, and I hadn’t even gotten to the state stuff yet! Ouch! I went to an accountant, and he found some deductions I didn’t know about, such as deducting part of our rent as a business expense. He got our Federaal taxes down to a more managable $2000. We still have to compile a bunch of stuff, and fill out a questionaire that he sends us. And we have to update the various numbers such as mortgage payment, utility costs, etc. But my does that now. I just can’t stand to do it. But I do my part. I have a bunch of folders. One for each year. When I get a reciept, or a tax form, or whatever, I stick it in the folder for that year. Then when it is time for her to start gathering stuff for the accountant, she just pulls out the folder, and most everything is there. When she asks questions, I will scramble to find the answers for her. Then once she has everything put together, I deliver it to the accountant. Then he usually has questions, so I track down that information for him. Then generally in a month or two, our tax returns show up in the mail with a bill of how much we owe the governament, plus how much we owe the accountant.
In general I hate tax time. But it is something we have to do!