Why are Taxes So Complicated? (100th video special)

Part documentary, part opinion piece, part rant; this video attempts to tell the story of how our tax system becomes more complex over time, despite attempts to "simplify it." Then, I give over 80 examples of parts of the tax code that are probably more complicated than they need to be.

0:00 Introduction
0:43 Congress and Taxes
2:55 Deductible Interest
4:53 Tax Cuts and Jobs Act
6:46 Qualified Business Income Deduction
8:02 Capital Gains Tax
9:39 Clean Vehicle Credit
11:20 Affordable Care Act
13:34 Conclusion

This video is not designed to provide any instruction. Please click below if you want more information the topics presented in this video.

And please keep in mind, much of what I say in this video stems from my personal opinions, which may or may not be shared by others in the tax profession. There is research into the history of our tax code, which is linked below.

To learn more about itemized deductions (and their limitations), click here:    • Can I Itemize Deductions?  

To learn more about adjustments to income, click here:    • What is Adjusted Gross Income? (and why is...      • What is Adjusted Gross Income? (and why is...  

For the very basics of the Qualified Business Income Deduction, click here:    • Qualified Business Income Deduction (for d...  

Information on Capital Gains Tax can be found in several videos, put principally in this one:    • How is Capital Gains Tax Calculated?  

To learn more about the upcoming Clean Vehicle Credit, click here:    • Alert! How the Inflation Reduction Act can...  

For the details of the Affordable Care Act, and how to calculate the Premium Tax Credit, click here:
   • Affordable Care Act: Marketplace insurance...  

Additional Resources:

Mehrota, Ajay and Bayer, Dominic, U.C. Davis Law Review Online: "The Promise and Limits of Fundamental Tax Reform: Contrasting the 1986 Tax Reform Act with the 2017 Tax Cuts and Jobs Act": https://lawreview.law.ucdavis.edu/onl...

U.S. Congress: "Public Law 99-514, the Tax Reform Act of 1986" https://www.congress.gov/bill/99th-co...

U.S. Congress: "Public Law 115-97, the Tax Cuts and Jobs Act" https://www.congress.gov/bill/115th-c...

For ALL the details regarding QBID, click here: https://www.nolo.com/legal-encycloped...

Kiplinger.com: "EV Tax Credits are Changing: What's Ahead": https://www.kiplinger.com/taxes/60508...

IRS Publication 5187: "The Affordable Care Act: What you and your Family Need to Know": https://www.irs.gov/pub/irs-pdf/p5187...

The Tax Geek on Twitter: @taxgeekusa

The Tax Geek on Reddit: www.reddit.com/r/askataxgeek

Image and video sources:

Storyblocks.com
Pexels.com
Wikimedia Commons

Intro Music: "Fast Talkin' - Kevin MacLeod via YouTube Audio Library

Transition Music: "Foreign Land (Sting) - Jingle Punks via YouTube Audio Library

Outro Music: "Modern Attempt" - Track Tribe via YouTube Audio Library

Additional audio by Storyblocks.com

DISCLAIMER: This video is for informational and entertainment purposes only. It is not intended to render tax advice or investment advice for individual situations. If you have questions regarding your particular situation, please consult with a qualified tax or investment professional.

The information in this video is current as of date of publication, and is subject to changes.