April first – it wasn’t the most pleasant day as a child. If you count back to my school days, I must have had a dozen “April Fools” pranks pulled on me. Everything from “Cindy really likes you, go talk to her” – that ended in total humiliation; to the much more sophisticated “did you know there is a quiz today?”
Now that I am a grown-up (my beautiful wife might disagree) I find many pleasures in the kick-off of April.
There is of course the start of Baseball Season. A time when every single team is bound to have a great year and keep the fans excited all the way up to October 1st (another great day). I share Mariner tickets and I select some of the late September games. They are either very valuable or I can’t even give them away.
For someone who owns a CPA firm, April 1st signals the beginning of the end. The fourth quarter – the seventh inning stretch. 15 more days of heavy tax time. Late nights, early mornings and full day weekends. While I try to keep my thoughts on capital gains and non-cash charitable contributions – I find myself looking out the window on a sunny day and thinking about baseball and golf and all of the gardening that needs to be done. That’s right I enjoy gardening – get over it!!
However, it is important to take care of the task at hand and that task is getting income tax returns done quickly and correctly. If for some reason I’m not in possession of your tax return and you are a client of ours – then it is time to think about an extension. We can get that done for you and your only involvement in that process is to contact us and let us know that you want one and if you want to make a payment with the extension.
If you decide not to send any money and end up owing when your return is done, Uncle Sam will charge you around 9 to 10% interest on the shortfall.
Extensions are not bad things – see one of my earlier blogs on that subject. No matter what you do, it is important to get that extension filed so don’t delay. Then go out and see a ballgame – we love you Mariners!!
Just think of us when something comes up that has you stumped. We want to help and can also tell you when we can’t help.
Thanks for listening and I will talk at you again.