‘Why Put Off Tomorrow What You Can Put Off Today?’ Asks Ellicott Accountant
On Friday, I remember thinking to myself: John, I’ve never seen it this busy before! By that, I mean a RUSH of new clients, referrals and longtime clients streaming through our doors these first couple weeks of April.
And then, I remember thinking the very same thing last year.
That said, the good news for folks here in the Ellicott City, MD area (and, beyond, I suppose!) is that we’ve been preparing for this season all year, and our capacity is still not at the breaking point (though truly busier than we have ever been). for these next two weeks (see the bottom of this email for details).
Even at this late hour, we will gladly receive friends of our existing clients — we make a special point to accommodate clients’ friends, because we’ve found that our great clients have very good taste in friends!
So, send this blogpost to five of your friends right now and make sure they let us know you sent them. They can also call: 410-203-2201 and we’ll be their last-minute lifeline!
And, a few words for the possibly-panicked procrastinators in our midst this week…
Oh, but before I go there, two important tax items of note:
1) First off, the actual tax deadline is Tuesday, April 17th this year (due to a DC holiday).
2) That’s also the day which is the LAST day that you can make an IRA contribution which will count for 2011. Don’t miss that chance, because you may even be able to deduct some or all of those contributions for THIS tax year.
Now, I started writing a new Note for you today … and I turned to my Note from last year for inspiration. And, well, I’m not sure that I can even improve on it, and the busyness-induced temptation to offer it to you once more was simply too great 
. But it’s just as timely as ever…
Ellicott City, MD’s Most Trusted Tax Professional Reveals: When Procrastination Is Really Smart
Right now, there are an infinite number of things you could be doing, especially around here in Ellicott City, MD. No matter what you work on, you’re not working on everything else. So the question is not how to avoid procrastination, but how to procrastinate well.
In my view, there are three kinds of procrastination. Depending on what you do instead of working on something, you could work on:
(a) nothing,
(b) something less important, or
(c) something more important.
That last type, I’d say, is good procrastination.
This is the “absent-minded professor” who forgets to shave, or eat, or even perhaps look where he’s going while he’s thinking about some interesting question. His mind is absent from the everyday world because it’s hard at work in another.
That’s the sense in which the most impressive people I know are all procrastinators. They’re type-C procrastinators: they put off working on small stuff to work on big stuff.
What’s “small stuff?” Roughly, work that has zero chance of being mentioned in your obituary. It’s hard to say at the time what will turn out to be your best work (will it be your thesis for your PhD, or that detective thriller you worked on at night?), but there’s a whole class of tasks you can safely rule out: shaving, doing your laundry, cleaning the house, writing thank-you notes—anything that might be called an errand.
Good procrastination is avoiding errands to do real work.
Good in a sense, at least. The people who want you to do the errands won’t think it’s good. But you probably have to annoy them if you want to get any real work done. The mildest seeming people, if they want to do real work, all have a certain degree of ruthlessness when it comes to avoiding errands.
Some errands, like replying to emails, go away if you ignore them (perhaps taking friends with them). Others, like mowing the lawn, or filing your tax returns, only get worse if you put them off. In principle, it shouldn’t work to put off the second kind of errand. You’re going to have to do whatever it is eventually. Why not (as past-due notices are always saying) do it now?
The reason it pays to put off even those errands is that real work needs two things errands don’t: big chunks of time, and the right mood. If you get inspired by some project, it can be a net win to blow off everything you were supposed to do for the next few days to work on it. Yes, those errands may cost you more time when you finally get around to them. But if you get a lot done during those few days, you will be net more productive.
So here’s where we come in.
Consider us “The Ultimate Procrastination Solution”.
Allow us to take the pain away from these second-level tasks (like getting your return filed) — and you go back to writing that killer novel.
And, of course, here’s something which will make it even easier…
+++++++++++++++++
“PROCRASTINATORS ONLY” Special Gift Certificate
$23 Towards Any Tax Service
“Yes, I Have Procrastinated Filing My Taxes This Year … But I Still Want to Protect Myself from All the New Tax Laws and Get MORE Money Back from Uncle Sam with A Peace-Of-Mind Guarantee that’ll Keep Me Sleeping like a Baby when My Taxes are Filed with the IRS!”
Deadline April 17th
Not valid with any other offer
+++++++++++++++++
Ellicott Accountant Explains “Why You Pay Too Much In Taxes”
We’re rounding third base, and headed towards the “home plate” of April 17th, and the resultant END of “tax season”. This has already been one of our best tax seasons yet — not just because we’ve seen so many new Ellicott City, MD tax preparation clients added to the “Curtin office family”, but because of the stories we’ve been privileged to share.
Stories of new financial freedom and recovering from losses … new family members (both biological and adopted) … new careers and the sunsets of “old” ones.
Our clients never let us forget that what we do is never only about “which forms to fill out”, or even how much money we can save you.No, it’s always been about the stories, and it’s always worth it.
So, if you haven’t had a chance yet: would you send us YOUR “tax season story”? We’d love to hear how things went with us, but even more … we’d *really* like to know what’s underneath those tax forms we fill out for you! It truly helps us keep our vision straight through the entire year…
And one more thing we’d like to ask:
Many of our clients are active on Facebook or Twitter. If you’re willing, would you make a post about us? Here’s something you can write:
Are you procrastinating on your taxes? Well, John Curtin wants to help! I had my taxes prepared there, and just found out that their office is making special efforts to help procrastinators this year! Give them a call: 410-203-2201 … you won’t regret it!
Or some such. We want your “procrastinating” friends to know that they don’t have to rush out and download unreliable software, or rush to some “big box” preparer. (Especially in light of stories like the one I just saw this morning: http://www.accountingtoday.com/news/HR-Block-Manager-Arrested-Identity-Theft-Tax-Clients-62102-1.html Yikes!)
Well, I also wanted to address both current and future clients with this little Note today…
Your Best Ellicott City, MD Tax Professional Says: ‘It’s A Report — Not a Strategy!’
It’s true — there are certain people for whom this Note doesn’t apply. There are those who are perfectly fine paying the amount of tax they pay every year, thank you very much.
However, since YOU have chosen to invest yourself in our services (or at one point considered it), you are probably in the second group of Ellicott City, MD taxpayers: those who would love to pay less in taxes, THIS year.
There are two main things which you need to understand:
Immutable Fact #1: Our tax system is not fair.
Yes indeed — the Mitt Romneys, Warren Buffetts, Barack Obamas, Rick Santorums etc etc operate under a vastly different system than most “regular” taxpayers. This is NOT because they are politically-connected (though they are), and the sooner you quit complaining about those who *seem* to be connected … and make the decision to JOIN their ranks, the sooner you will pay less in taxes.
Because all of those men, and other people like them, understand the second fact…
Immutable Fact #2: A tax return is a report, NOT a strategy.
Yes, we’re pretty good at coming behind with our magic brushes and cleaning up the mess made by many of our clients in their finances and taxes. But there is a much better way to fly.
It’s called tax planning, and it’s essentially comprised of three parts:
1) Strategic review:Assess the current situation, and identify short-, mid-, and long-term strategies to lessen your taxes, and grow your income.
2) Implementation: This can be a little tricky (especially if you do it yourself), because there are bound to be accounting and local regulatory questions which arise. We recommend that you stay with your same team who developed the tax strategy so they make sure you’re doing what you need to do.
3) Proper compliance: There are plenty of folks out there who will give you “the secrets to paying less taxes!!!” — but are they willing to put their name on a dotted line and defend it? If not, RUN from these people. They are true blowhards. Or worse, they know that their advice will lead to a fraudulent return.
But the main thing to understand is that in order to REALLY get your tax situation improved, you MUST plan ahead.
Otherwise, you’re just cleaning up a mess when filing your tax return.
I hope I didn’t ruffle too many feathers … but if so, understand that most of all, we are here to walk with you no matter WHAT kind of planning you do (or don’t do)!
Give us a call today: 410-203-2201, or drop us an email. We’re here for you!
“Our Clients Are Afflicted With Madness” Says Ellicott City Accountant
Our clients here in Ellicott City, MD are afflicted with “March Madness”, along with the rest of the country, it seems.
Unfortunately, this little national hoops holiday isn’t one which my Ellicott City, MD tax preparation staff and I get much chance to participate in. We’re too busy doing your taxes!
Yep, this is close to our busiest time of the year, and we’re working like mad to handle the increased volume this year. Because with all of the economic uncertainty out there, it’s clear that people both inside and outside of the Ellicott City, MD area want real answers from someone who knows them — and cares..
But let me say this: though my business does well this time of year, I’d rather things were better and our tax code was simpler! I’d rather the economy was thriving and everyone felt confident enough to handle their own situation.
The sheer complexity of the tax code keeps me in business — to take the hassle from you and other Ellicott City, MD taxpayers, and apply our expertise to your situation. But wouldn’t it be more efficient if paying taxes didn’t actually require so much expertise?
I know … a bit of a controversial statement from an accountant. But I get tired of seeing new clients bring last year’s tax returns to us–and realize that if we’d helped them sooner, they would have saved a bunch of money (fortunately, we *can* file amended returns!). If things were simpler, people would keep more of their money — and THAT’S one of my passions.
Now, I have a thought or two about your refund (if you’re receiving one), and other such close-to-the-wallet thoughts. I’d love to hear your opinion…
A Ellicott City, MD Tax Professional Suggests Giving Your Refund Away?
We have many clients who are receiving refunds this month, and that number of course will only be rising. So, here’s a thought for you: What would it look like for you to give your refund away?
Yes, this is a radical idea to think about, but consider: what does this refund represent to you?
If you’re like many families, it’s a bit like “found money” — i.e., an unexpected windfall. And, in those scenarios, it’s tempting to hoard, or to splurge.
However, as with other windfall scenarios which I’ve written about in the past, one of the smartest things you can do is to give a portion (at least) of it away.
Why do I suggest this?
Well, I believe it’s actually “enlightened” self-interest in the long run. And not just in our sense of feeling good.
I see the balance sheets of folks from every walk of life, and over the years I’ve noticed an interesting phenomenon: individuals and families who make giving a priority, even when they aren’t “wealthy”, seem to do better in the long run. And I mean financially–not just in their state of mind.
(Though, there are significant “state of mind” reasons for giving. Have you seen, as I have, that those who freely give seem to be more pleasant company?)
Before you write this off as being “ask the universe” mushiness, understand that A) I don’t subscribe to that baloney and B) I am merely reporting an observed phenomenon. Do with it what you will.
You see, I make it a point to seek to observe how money works. And, for some reason — money gets attracted to those who aren’t only in hot, desperate pursuit of it. It’s almost like in romance — potential lovers are usually turned off by the overly-aggressive seeker.
Consider this. I know it might feel painful. But trust me when I tell you that it can actually provide you with a deeper feeling of joy than if you choose to cling tightly to everything which comes your way.
I hope I didn’t ruffle too many feathers … but if so, understand that most of all, we are here to walk with you no matter WHAT your balance sheets look like!
Ellicott Accountant: “You Might Need To See This Again”
The IRS just released a study which shows that the average time it takes ALL taxpayers to do their taxes is a total of 18 hours. (Editor: I wonder what the number is for Ellicott City, MD-area taxpayers? Probably even higher)
The number is even higher if you don’t just use the 1040EZ form. Bet you wish you had that hour of daylight savings time back, don’t you?
Seeing that figure once again reminded me of the Ellicott City, MD tax service we get to provide. Truth be told, it doesn’t require those kind of man-hours for us to complete most returns, even those which are more complicated. But that’s also because after all — we’re sort of experts at this stuff (It’s not for nothing that we’ve been called the best tax professionals in Ellicott City, MD — and the most trusted).
Already, we have many, many clients who have filed, have received refunds and have written us notes telling us that they’ve never been more pleased. This makes me happy, as you might imagine.
Well, we’d like to ask you a favor, and we have a simple way to help you help us, as it were. Yes, we’re extremely busy, but we’ve set aside some capacity for friends and family of our clients. The reason we’re willing to do this is that we already know that you are a good person to work with (else we would have released you as a client!) so it stands to reason that you associate with similar people.
Would you send this blogpost to your friends (post it on Facebook, even?) and have them let us know you sent them?
Now, we posted this in the beginning of the year, but I thought it worth “re-releasing”, if you will, as we reach about one month left in “tax season” …
Curtin’s Tax Time Document Chase List for Ellicott City, MD-area TaxPayers
Yes, this is a long list — but it’s the unfortunate reality of our tax code that it’s not even comprehensive! But these items will cover 95% of our clients. Really, this is for ensuring that we’re able to help you keep everything you deserve to keep under our tax code.
Even if for some strange reason you won’t be using our cost-effective services this year, feel free to use this list as a handy guide…
Personal Data
Social Security Numbers (including spouse and children)
Child care provider tax I.D. or Social Security Number
Employment & Income Data
W-2 forms for this year
Tax refunds and unemployment compensation: Form 1099-G
Miscellaneous income including rent: Form 1099-MISC
Partnership and trust income
Pensions and annuities
Alimony received
Jury duty pay
Gambling and lottery winnings
Prizes and awards
Scholarships and fellowships
State and local income tax refunds
Unemployment compensation
Homeowner/Renter Data
Residential address(es) for this year
Mortgage interest: Form 1098
Sale of your home or other real estate: Form 1099-S
Second mortgage interest paid
Real estate taxes paid
Rent paid during tax year
Moving expenses
Financial Assets
Interest income statements: Form 1099-INT & 1099-OID
Dividend income statements: Form 1099-DIV
Proceeds from broker transactions: Form 1099-B
Retirement plan distribution: Form 1099-R
Capital gains or losses
Financial Liabilities
Auto loans and leases (account numbers and car value) if vehicle used for business
Student loan interest paid
Early withdrawal penalties on CDs and other fixed time deposits
Automobiles
Personal property tax information
Department of Motor Vehicles fees
Expenses
Gifts to charity (receipts for any single donations of $250 or more)
Unreimbursed expenses related to volunteer work
Unreimbursed expenses related to your job (travel expenses, entertainment, uniforms, union dues, subscriptions)
Investment expenses
Job-hunting expenses
Education expenses (tuition and fees)
Child care expenses
Medical Savings Accounts
Adoption expenses
Alimony paid
Tax return preparation expenses and fees
Self-Employment Data
Estimated tax vouchers for the current year
Self-employment tax
Self-employment SEP plans
Self-employed health insurance
K-1s on all partnerships
Receipts or documentation for business-related expenses
Farm income
Deduction Documents
State and local income taxes
IRA, Keogh and other retirement plan contributions
Medical expenses
Casualty or theft losses
Other miscellaneous deductions
We hope this helps, and we really look forward to seeing you this year!