JULIA SPENCER-FLEMING: Happy Valentines Day to all who
celebrate, but I’m not here to talk about that. If you want to read our
thoughts on the holiday (and see examples of the delightful cartoons Hallie’s
dear Jerry gave her every year) just follow the links. No, I’m here to talk
about something that outlasts infatuation, obsession, love and even death -
yes, I’m here to talk about taxes. (And if you’re thinking, surely, not death,
than you haven’t ever handled an estate.)
Why taxes on the day devoted to romantic love? Because February 15th isn’t just the day for snatching up half-priced Russell Stover chocolate boxes. It’s also the date by which you should have your tax information in to your accountant if you want a guarantee they’ll be able to file your 1040 by April 15th. (By the way, many years Maine and Massachusetts file on April 17th or 18th, because we observe Patriots Day on the third Monday of the month. And what’s more patriotic that waiting til the last minute to file your taxes? Thanks, Paul Revere!)
I’ve become a little obsessive about this, because for YEARS I
didn’t get my act together soon enough and had to file an extension.
Embarrassingly, there were a few times when I didn’t make it in time for the
extension! I know, it makes me groan and shake my head as well. Happily, I’ve
been living into my goals to become more organized, and this is the third year
I’ve gotten all my materials to my long-suffering accountant before February
15th!
How about you, Reds? Are you ahead of the curve when it comes to taxes, or are you begging your accountant to somehow fit you in on April 14th?
HALLIE EPHRON: Heavens no! But this is a timely reminder to get on the stick. It takes me about a half a day to pull everything together. And the magnificent fellow who files my taxes has been doing it for quite a few years. So it’s not a big deal… but it hangs over me. I’m much happier when it’s done.
DEBORAH CROMBIE: I applaud your industry, Julia! My accountant
pretty much automatically files an extension for me, and I do my taxes in
August, as my corporate return is due September 15th. Maybe one day I will
emulate you!
JENN McKINLAY: I am either way ahead of the curve or way behind. This year looks to be behind…ah well. I did see a hilarious meme of someone turning in their tax forms to the IRS completely blacked out as in redacted. LOL. This year, I would like an accounting from the government telling me exactly where my money is going…ahem.
RHYS BOWEN: one thing I am meticulous about is taxes. I
have a spread sheet going all year so it’s only a question of the sum of each
column plus the various investments, properties etc. I have spoken with various
tax attorneys about ways to pay less or whether incorporating works but nobody
has come up with brilliant ways to prevent me from buying a new stealth bomber
every year! I also feel if the federal programs are being curtailed I’d like to
know where my money is going !
LUCY BURDETTE: I wish I was more like you, Rhys. Right now I just have a big folder with everything crammed into it. John has been nagging me to get my part done, but we’ve had so much company (and more to come) that it’s hard to tackle. It’s never as bad as I think it will be…
HANK PHILLIPPI RYAN: Yeah, I am relentlessly careful and on
time about this, and every year I end up stomping around the house saying “what
is this FOR?? What is this FOR??” and “WHY IS THIS SO MUCH!!” and “I bet
fill-in-the-blank person doesn't pay this much. AHHHHHHH SO UNFAIR!” I am
happy to pitch in to pay for infrastructure and schools and school lunch and
breakfast and medicine and education and a whole bunch of other stuff, sure, I
am eager to help, but I cannot help but think about where this particular money
is going. We ought to be able to earmark it. Yeah, mine all goes to
LIBRARIES and school lunches, okay? Check.
Okay, back to the question. Yes, I’ll have my stuff in on time to our lovely person who will add it all up.
JULIA: How about you, Dear Readers? Are you Johnny-on-the-spot with your spreadsheets, or do you start thinking about your 1040 at noon on April 15? And Canadian readers: when are your taxes due to the CRA?
Those tax papers are all gathered together and ready to go . . . .
ReplyDeleteMy husband, the tax CPA, told me ours is almost done. This is a new approach. Up until about fifteen years ago, we were always extended (à la the cobbler’s children go barefoot). I think he got tired of us having to wait so he starts working on ours in early February. I know he’s been mumbling a lot this week about distractions (there are always distractions — and lots of mumbling) or ours would probably already be done. — Pat S
ReplyDeleteI can be lured into going through all my expenses for the year with chocolate as a reward.
ReplyDeleteIt occurs to me we could do this on Valentine's Day, when I am going to eat chocolate anyhow.
Not very romantic? Oh, well, worth a try this year.
This year, some of our information can only be accessed on line, the company changed it's website, my husband can't sign in, wait time on the phone is 40 minutes. Send me the paper documents! Grr-r.
ReplyDeleteWe usually get ours in with time to spare. When I was self-employed, working as a realtor, it took days to figure out all the numbers. I feel terribly for small businesses, they carry the brunt of it and tax rates are very high. Too bad someone in DC isn't going to bat for them instead of billionaires.
I'm like Lucy - the folder stuffed full of stuff is sitting on the shelf behind me taunting me. I will devote next Saturday to the task of adding everything up, hunting down online w9s, and reporting it all to my tax person. I wish I kept a running spreadsheet, but I don't.
ReplyDeleteAnd yeah, I shudder to think about where some of my taxes will end up.