Oh well…

Hey everyone – its income tax week!  Hooray! 

Actually, we’ve been given a Covid extension until May – but who’s counting?  (Other than the IRS!)  Do you think our elected officials are cheering on the sideline as our tax returns flow in?  Oh well.  

Does it ever seem to you that no matter how you complete your income tax return; no matter how much outside, expert advice you leverage; no matter what plans you put in place to lessen your tax impact next year, you still seem to be funding everything? 

On the one hand… 

I dislike the immense level of government spending that takes place today at the federal, state, county, city and even master association level.  The media reminds us of the tremendous waste that seems to occur every day; every way.  Today, with our anytime, anywhere, all-the-time, political action committees – they all have a position on the state of our federal, state, and local taxation, true?  Could it be some of our taxes are funding their messages?  Oh well. 

On the other hand… 

When there is a natural disaster; when we hear of a scientific breakthrough funded by a government grant; or when we simply have a friend or family member in need who receives financial or medical support from a social services program… well, I for one am happy I live in America. 

This time is one time during the year when we total it up.  Sometimes we like the resulting sum; other times we don’t.  Talk about “new math”! 

The Income Tax has made more liars out of the American people than golf has.

                        Will Rogers 

Question:  If I work from home and my dog barks when the FedEx driver arrives; does she qualify as my receptionist – and can I write-off the cost of her dog food?  No?  Oh well. 

All in all, when I reflect on my financial picture – I am blessed.  How about you?  I suppose it all depends.  Filing income taxes forces us to look at our W-2; our 401k; our IRA; our mortgage interest; our real estate taxes; and all of the other numbers the IRS wants us to look at; and report on.  That’s one way we measure; some years good - some, not so much.  

When we look in the mirror, often our not-so-much years are self-inflicted: 

More and more these days I find myself pondering on how to reconcile my net income with my gross habits.                               

John Kirk Nelson 

We heard growing up that, “Money isn’t everything”.  Does that perspective apply as adults?  Hopefully so.  Our top line income, even when reduced by taxes, still can be more than enough for a man that is easily contented.  Unfortunately, the itch of discontent rears its head all too often.  I mean, how many billions does it take to content our billionaires?  

Nevertheless, it’s not what we make that counts; it’s what we save.  Today, “line of credit” seems to have replaced the importance of savings.  Like our federal government, line of credit means “debt”.  Unlike the Fed, we can’t just print money.  Oh well. 

We are looking forward to 2021 – this will be our best year ever!  We can stay in control of how we define “best” by following the guidance of the world-renowned author and poet, Robert Lewis Stevenson: 

Don’t judge each day by the harvest you reap, but by the seeds you plant.                                

And no – the seeds are not tax deductible.  Oh well. 

GAP 

When life gets tough we could get a helmet… or… we could leverage the peace and share the power of a positive perspective.