"i find the reporting at tax time cumbersome...may be there are ways to make it a less hassle?"
I didn't find tax compliance merely "cumbersome," but a total pain in the butt!
One simple solution is to use a tax accountant. The tradeoff is paying a fee versus spending a ton of time figuring out ever-changing and complex rules. My accountant often finds ways for me to save money that I would have missed. Or maybe you are self employed, or in a partnership, or invest in MLPs or other complex investments, where things can get even tougher than plain vanilla personal income taxes. And if you are unlucky, another benefit is IRA audit support and representation. To me, it's worth the cost for all of the above plus peace of mind!