I really expected it. I’m a freelance, working from home. There’s a lot of things I love about freelancing and a lot of things I hate. Having to deal with the whole 1099 is one of the things I hate. I knew this tax season would be brutal. I haven’t really looked into all those tax deductions (I know I can deduct hosting, cell phone and a lot of other expenses) and it’s something that I really have to do.
It was the stupid K1 that really screwed me over. My Grandparents on my Mom’s side owns a manufacturing company out there in Illinois. I haven’t really made any dividends off of it since September 11th, but still have to pay for an eight-state composit. Fucking ridiculous.
I have a feeling this is the year I let all of my stock go. It’s not worth it anymore. Really, it’s never been worth it. At least not since September 11th. It’s the reason why I will never be investing. I have a feeling that publicly traded stock dividends are going to be just as expensive to prepare. If you have to pay for the tax work, and the dividends don’t justify what you pay in taxes and tax-prep, then why bother investing in the first place?
Seems like classical cars is a better investment than the stock market. You don’t have to worry about taxes until you go and sell the damn thing.
Real Irony: Can’t Sell My Stock
The company I’m invested in can’t purchase back the stock and the family members who have been acquiring everyone’s stock that’s up for sale is too strapped to by me out. I’m stuck with stock that’s a liability and can’t even get out of it. It might get to the point where I actually give my stock away just to remove the tax-preparation liability.