Sunday, July 12, 2020

Taxes Looming!

Tax day is almost here. 

It seems weird to write this statement during July, but coronavirus encouraged the government to delay the annual pain of settling up by three months. I have to admit, I have delayed paying my tax bill this year. The taxes have been complete since April, but I have been waiting until closer to the Day of Reckoning to submit them.

We experienced some changes during 2019 that resulted in Tax Day not being a lot of fun! I also fell victim to some tax law updates, ugh! I hate it when they change the rules in the middle of the game. But, we have made corrections and adjustments for 2020 to ease the pain of Tax Day 2021. It still bugs me that I pay more in income taxes that some Fortune 500 companies pay in taxes. And companies are able to pass their tax bills to their customers through increased prices on products and services. I, unfortunately, am where the tax bill hits the bank account. I cannot pass my tax bill onto anyone! I confess, I was secretly hoping that Tax Day would be canceled this year--that would have been the best stimulus package!

Later today or tomorrow I will press the send button in Turbo Tax and watch the money in my accounts be siphoned off to support our Republic. It is, after all, my civic duty!

I will be happy to have Tax Day 2020 in my rear view mirror. Sadly, however, the next Day of Reckoning is now only nine short months away!

-- Bob Doan, Elkridge, MD

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