Tax Day

According to the Internal Revenue Service, tax day is April 15, although some years, especially when that falls on a weekend, it is extended until the next business day.

I try to file my taxes a head of time, as I am not one to procrastinate, but I also wait until well into the tax season to file.  Although the government usually expects tax documents to be mailed out by January 31st, I can count on a couple of things to come in about mid-February. 

Well, today was tax day.  I usually have my taxes prepared by an expert.  I have some small investments, and the first year I filed my taxes after acquiring these investments, I made a mistake on the return.  It just so happened that was the year the IRS decided it would be a "kinder, gentler IRS" so they call my error a "math error," fixed my return, and did not charge me any penalty or fees.  That was nice.

I have no desire to have any trouble with the IRS, so I have decided since then, it is well worth the peace of mind to have my taxes prepared by a professional.  I use a local firm, but they have always done well by me, and even found me some deductions of which I was unaware.  They file electronically, and, if I receive a return, it is deposited in my bank account in a little more than two weeks.

I cut my taxes close.  I do not mind paying a small amount, although a return is nice. But the government does not pay me interest on any of my money that they keep until I file a return, so I prefer to keep the money myself.  I am well enough disciplined to be able to save money on a regular basis, so I did not need the tax return as a savings, nor do I need it for a special purchase.  This year, as in many years in the past, I will use it to cover the cost of an upcoming vacation.  But, if there were no tax return, I would still be able to cover the cost of the upcoming vacation.  I do not take a vacation I can not afford.  I do not make purchases I can not afford, if I can possibly help it.

The only stressful thing about tax day for me is to be sure I keep all of my documents in one place, so I have everything together when I get my taxes completed.  I know I can always go back, if I need to, but I like to make the trip to the tax preparer just once a year.