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