Is Tax Season Over Yet?

There are many things to blog about but for now I will share what I have been doing for the last two and half months...and probably why you haven't heard from me. :)

I decided to work during tax season part-time at a local CPA firm preparing taxes. I must admit that I have really enjoyed the work (I know it's dorky), but I do get a thrill when I figure out how to lower someone's taxes! Did you know that taxes are the largest expense you will ever make in your lifetime. I really don't like how the tax code hammers down on the upper middle class. They really get hit the most...even more than the extremely wealthy in some cases. It appears to me that the code was either written by the very wealthy or by the wealthy congressman who work for the poor (i.e. democrats).

Some of my clients have asked if they should open a corporation for their businesses and my response is that the highest individual tax rates and corporation rates are the same so there is no tax benefit, only liability protection. However, I do happen to mention that if Hillary Clinton won then the highest individual tax bracket could jump back up to 50% and then opening a corporation would be a very smart business move. Every client without fail says, "I was voting for her, but now I'm not going to!" I always chuckle to myself when the client leaves. :)