I finally finished my federal taxes last night, just around 11 pm. I started them months ago. I had originally done last minute filing the couple of times I owed money. This past year they owe me a lot of money (mid four figures), but they were just so damned complicated. My final federal return is 45 pages long. That’s with Turbo Tax premier. Then when all that was done I had to do my Ohio taxes. And it turned out, with 45 minutes until midnight, I had no idea where the Ohio forms were. Thank Og they have an online version. The bad news is that I owed them about $1200. So that took a good chunk out of the Fed return.
Why are my taxes so complicated? Got a large, lump sum distribution from the company I left last year. Started two new businesses, one of which was converted from a sole propietorship to a corporation. Have multiple dependents and multiple incomes on my return. Have lots of deductions, including child tax credit stuff. Have lots of audit flags like home office deductions. Have new job search expenses. Received dividends and interest payments. Had business losses. Had gains from state and local returns. Have foreign income over the past five years. My spouse has two different kinds of IRAs. I had income and dividends from an ESOP. I relocated to a different state. Etc. I have a bit of a headache this morning. I think that next year will be more complicated with multiple business returns, but at least I have someone I pay to help with that.