I know, the heading does not make sense does it? Neither has my week.
Here comes my never assume part of the week. Well, I got an audit by mail from the IRS for my 2010 filing. It seems that an item was left off the return and that means that I owe them back taxes of $800+ dollars. At first I was livid, well, I am still angry, at nobody else but myself. If they ever had a Miss Anal/Type A personality contest here in America I would win it hands down. Anything that has to do with my business or personal finances I keep in individual folders, including 1099s, W-2s, memos, letters, emails, etc. I KNOW that I sent everything that my CPA needed to do my taxes for that year to him via email and then followed up with a phone call to make sure they opened and received every single slip of paper. They did. The following month, actually it was longer than that, I got my return all nicely printed and presented to me in a booklet form looking all professional and correct. Needless to say I just glanced through it and filed it away (it was filed electronically-that was my copy). What was I thinking??? They would have certainly taken my Miss Anal crown back last year for my CPA never included income on it that I had provided to him. Shame on me for assuming that they were done correctly. I looked through my file and sure enough there was the printed email and the 1099 attached. You know what they say about never assume! Enough said.
This year, I went through every line (and this was in March - way before my letter this week) and found several errors again, albeit small ones. He hemmed and hawed, but he did an amendment for the return. Next year? I am going back to doing my own taxes. I have always done them myself, since I was a young adult and with the exception of the year my mom died, and an Estate was involved and someone else did them, I have never made a mistake. (Except for maybe the year I declared myself to be a blind 65 year old. I think I was about 25 at the time). What can I say? I think that Tom stole some of my brain cells when I carried him that year.
My point? When it comes to your finances, READ EVERYTHING, including the small print. I am sure thousands of people would not have been in the financial messes they ended up in if they read documents before they signed, especially mortgages. Read, ask questions. Years ago when I was refinancing my mortgage with Ameriquest my broker and I agreed on a fixed year mortgage for 30 years at a 7.00% rate. When I went to the closing table (before they even did an appraisal!!!), the documents said 30 year adjustable rate mortgage, with a rate adjustment EVERY year, for 30 years. Can you imagine if I signed that? I would have been in bankruptcy a few years later had I not worked in banking and knew there was a problem. Right away I jumped up from the table and walked out. Verizon? They advertise those beautiful bundles, phone, internet, cable all for one low price (now anyway) of $99.00 a month. Read the small print - if you are late one month all bets are off and your bundle will disappear into the wind. You will then pay full price. Empire Carpets? Advertise next day delivery. Do not count on that either, read the small print. They install at their convenience, not yours.
I implore you! Read everything and protect yourself. Your finances are in your hands and you need good credit for everything in todays world - including a new job.
Okay about the never make assumptions about people part, this will be short and stomach turning. In Miami this week a man was arrested for gnawing on another mans face while in broad daylight . The man being attacked was fully awake and aware of this. They had photos of the two men in the newspaper the next day - a scraggly looking old man with long hair and unkept beard and wild eyes and a rather unassuming looking young man, attractive and clean cut. I looked at the photo and thought that poor old man must have snapped or something. WRONG, the attacker was the young man, who police shot and killed. What would drive someone to do something like that? That is incredibly disturbing.
So how do I close this type of post? Protect yourself! Protect your finances and your assets. Protect your family and your kids because it looks like that clean cut young man ate a drug called bath salts and is usually made with household products and very easy for kids to get. Two deaths have been reported because of it. Know what your children and young adults are doing. Protect, protect and read!
Peace to you and yours,
Mare
Here comes my never assume part of the week. Well, I got an audit by mail from the IRS for my 2010 filing. It seems that an item was left off the return and that means that I owe them back taxes of $800+ dollars. At first I was livid, well, I am still angry, at nobody else but myself. If they ever had a Miss Anal/Type A personality contest here in America I would win it hands down. Anything that has to do with my business or personal finances I keep in individual folders, including 1099s, W-2s, memos, letters, emails, etc. I KNOW that I sent everything that my CPA needed to do my taxes for that year to him via email and then followed up with a phone call to make sure they opened and received every single slip of paper. They did. The following month, actually it was longer than that, I got my return all nicely printed and presented to me in a booklet form looking all professional and correct. Needless to say I just glanced through it and filed it away (it was filed electronically-that was my copy). What was I thinking??? They would have certainly taken my Miss Anal crown back last year for my CPA never included income on it that I had provided to him. Shame on me for assuming that they were done correctly. I looked through my file and sure enough there was the printed email and the 1099 attached. You know what they say about never assume! Enough said.
This year, I went through every line (and this was in March - way before my letter this week) and found several errors again, albeit small ones. He hemmed and hawed, but he did an amendment for the return. Next year? I am going back to doing my own taxes. I have always done them myself, since I was a young adult and with the exception of the year my mom died, and an Estate was involved and someone else did them, I have never made a mistake. (Except for maybe the year I declared myself to be a blind 65 year old. I think I was about 25 at the time). What can I say? I think that Tom stole some of my brain cells when I carried him that year.
My point? When it comes to your finances, READ EVERYTHING, including the small print. I am sure thousands of people would not have been in the financial messes they ended up in if they read documents before they signed, especially mortgages. Read, ask questions. Years ago when I was refinancing my mortgage with Ameriquest my broker and I agreed on a fixed year mortgage for 30 years at a 7.00% rate. When I went to the closing table (before they even did an appraisal!!!), the documents said 30 year adjustable rate mortgage, with a rate adjustment EVERY year, for 30 years. Can you imagine if I signed that? I would have been in bankruptcy a few years later had I not worked in banking and knew there was a problem. Right away I jumped up from the table and walked out. Verizon? They advertise those beautiful bundles, phone, internet, cable all for one low price (now anyway) of $99.00 a month. Read the small print - if you are late one month all bets are off and your bundle will disappear into the wind. You will then pay full price. Empire Carpets? Advertise next day delivery. Do not count on that either, read the small print. They install at their convenience, not yours.
I implore you! Read everything and protect yourself. Your finances are in your hands and you need good credit for everything in todays world - including a new job.
Okay about the never make assumptions about people part, this will be short and stomach turning. In Miami this week a man was arrested for gnawing on another mans face while in broad daylight . The man being attacked was fully awake and aware of this. They had photos of the two men in the newspaper the next day - a scraggly looking old man with long hair and unkept beard and wild eyes and a rather unassuming looking young man, attractive and clean cut. I looked at the photo and thought that poor old man must have snapped or something. WRONG, the attacker was the young man, who police shot and killed. What would drive someone to do something like that? That is incredibly disturbing.
So how do I close this type of post? Protect yourself! Protect your finances and your assets. Protect your family and your kids because it looks like that clean cut young man ate a drug called bath salts and is usually made with household products and very easy for kids to get. Two deaths have been reported because of it. Know what your children and young adults are doing. Protect, protect and read!
Peace to you and yours,
Mare
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