Keeping it in the family

It's that time of year again. You either love it or hate it. There is no grey area here. There is no 'Let's just be friends.'

Either your Uncle writes you a nice fat check or you have to write one to him. If you are due a refund, your W-2's travel slower than a turtle on downers. If you owe money, April 15th is coming at you like a freight train.

Growing up, every time we went out to dinner, my Dad would turn to my Brother and I and ask, "So? How's business?" Like trained circus monkeys- we would answer in unison- "Business is good!" Oblivious to my fathers tactics of writing off our chicken fingers and french fries as a business expense, we were just happy to be eating at Ground Round. In an ironic twist of fate, my father is a CPA.

Write offs are what can help you cut your tax bill to the bone, if you are legally entitled to claim them. It could mean the difference between owing a 'small payment' or a 'we have to re-finance the house to pay the taxes, payment.'

I called my Dad to inquire about some tax deductions for this posting. In true CPA fashion, he started running off at the mouth about IRA's, 401(k) accounts, tuition reimbursement, income taxes and charitable deductions. When I inquired about 'FUNNY deductions', he seemed insulted. "Taxes aren't FUNNY!" He gasped. Well, EXCUSE ME. So there you have it, right from the horse's mouth. Taxes are NOT funny. That will be just about enough of that.

Being born into such royalty as being the only daughter of a CPA, I have never had to do my own taxes. And let's all take a moment to be thankful for such. Numbers are not my thing. And truthfully, they shouldn't be yours either.

There are software products on the market that promise you the maximum deductions and highest refunds. But if that dreaded day ever comes when there is knock at your door, and it's not Publishers Clearinghouse holding a check; you will be wishing you had used a tax professional. That $49.99 box you got free after rebate at Best Buy is not going to help you through an audit.

The best tax advice I can give you is hire a professional. They go to SCHOOL for this stuff. Real grown up school. The price you pay for their services will be well worth the peace of mind you will have knowing that your taxes were done correctly. Ask your friends for referrals. (Unless your friends are in Federal prison for tax evasion.)

There is an old saying ( aren't ALL sayings old?) that a man who represents himself in court has a fool for a client.

Unless you work at Joe's tackle shop making minimum wage, have no assets except your dog( and NO, you cannot claim Sir Sparkle Butt as a dependent) and have never made a donation to the kids on Halloween with the Unicef boxes; I suggest you hire a professional tax preparer.

They VOLUNTARILY go to school to learn more about numbers. What a bunch of dorks!

*This post brought to you by the letter "Q" the number 4, and Cici's Dad.*

Until we meet again,

Cici

Cici@mycoupons.com