Why does nobody talk about how much easier taxes are when you just round everything to the nearest dollar

I finally stopped stressing over pennies after my boss told me the IRS doesn't care about 47 cents and honestly my return got done in half the time this year, has anyone else just started rounding and never looked back?

2 comments

2 Comments

lily23026d ago

Are you rounding up or down? Doesn't that screw you over if you end up owing a little more than you expected?

patp7926d ago

Funny you mention that @lily230... a buddy of mine tried the rounding down trick on his taxes last year. He thought he was being clever, saved like 12 bucks each month by rounding down to the nearest dollar on his deductions. Come tax season, he ended up owing an extra 84 bucks because he understated his business mileage by just a few miles each month. Plus the IRS hit him with a small penalty for underpayment since he'd been consistently short. He said the worst part was having to go back and redo all his calculations anyway, which totally defeated the purpose of trying to save time in the first place.