Mon, 14 Mar 2005

Finished 1120S

I finally finished the federal corporate taxes for Postica, the 1120S and related forms and schedules. It took a long time, but less than the 184 hours that the IRS estimates. Seriously, the IRS estimates it will take more than one man-month to file just the 1120S and K-1.

I filled out the return by hand first, and then copied the information into's forms. Their software is very minimalist, especially compared to TaxAct which I've been using for years to do my taxes, first their Windows version, now the online version. The Taxsoftware software is a bunch of Java applet forms which, once completed, are used to generate a PDF form of the tax forms. Unfortunately, I couldn't figure out how to fix the background color of selected fields so I had to fill out each field blind, then remove focus to verify that I had entered the correct value. I tried changing a bunch of X resources to get the color to change, but was unsuccessful.

I'm almost done with the California return, 100S, too. Luckily, it's mostly copying data from the federal return. I do have to keep a separate depreciation schedule though since California doesn't allow the 50% bonus depreciation.

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The state is that great fiction by which everyone tries to live at the expense of everyone else. - Frederic Bastiat