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Honored Advisor

Bookwork Burnout

Thank goodness I had to do the forms for employees and independent contactors a month ago or go to jail...or I'd be dead this afternoon.  I know I need to copy a few more end-of-year statements and jot a few state ID numbers down on my accountant's package, but I have been at this until my eyes have quit this afternoon.  Sized up the font and decided to take a break here for a few minutes. 

Waited until the absolute last second to do county listing forms, and then made myself walk them out right after lunch to catch the afternoon mail pickup.  Had a new LLC and two new real properties to account for this year, which added to the confusion.  Last set of K-1s from the mineral company were finally e-mailed to us today, too, so I could print them out for the CPA...good thing my appointment was delayed by illness this year, I suppose. 

I think another hour or so will knock it all out.  No need to plan on doing much with the guys coming back to re-build the deck right outside the office door tomorrow, and a class with a big test review in the middle of the day.  Got to buckle down and finish the chore tonight, then give it a quick review before the CPA appointment Thursday in Richmond. 

I thought I'd have had it done weeks ago, but if the forms I need to do our taxes with are still straggling in this late and we have to pay by March 1st, it is sort of pointless to get all geared up too far ahead of the deadline.  Have you folks been delayed by slow filings by other this year? 

 

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Advisor

Re: Bookwork Burnout

For the most part my tax preparation is just auditing my info looking for errors and mistakes.  Spent 2 days off and on fixing my screw ups this year (I probably could have done it all in 2 hours if I had 2 uninterrupted hours).  Dad always kept the farm records as well as balancing the checkbooks, etc.  So Mom didn't really understand all that tax stuff.  It's been a fun couple years.  Part of it has just been accommodating the differences between Dad's methods and mine.

 

For instance, I was taught to file invoices and receipts by vendor.  Dad filed them by category. I think his logic was in case of an audit he could pull out an envelope and prove his claim.  (I say envelope because at the end of the tax year Dad transferred his files to manila envelopes which he stored in a metal cabinet .... years and years of them sort of neatly stacked side by side in the cabinet.  It's a hassle trying to find anything.)

 

But mixing Mom's lack of familiarity with her desire to do it the way Dad did it with my wanting to do it the way that works for me .. Aspirin time...

 

We compromised.  I put a computer in Dad's office with Quicken on it and I enter all her checks and deposits in the computer.  She then enters the same information in a ledger book like Dad used and files her receipts Dad's way.   She's happy and I can find the data I want

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Advisor

Re: Bookwork Burnout

Methodical differences always make for an interesting tax transition.  You figured out a way to make your Mom feel comfortable and still do things your way - you are a good son!

Part of my issue this year is transitional - that the computer totalled things so easily, I was left feeling as though it was all done weeks ago...when, in fact, the 1099s from everywhere and this errant pair of K-1s dragging had put me a week behind. 

Throw in the two new properties, one in a new LLC, and that just muddied the waters a little bit more.  Realized today that the owner of the other half-interest in the second property had gotten all the valuation appeals forms from the county for that parcel, and had not shared them with me...so, not promising for us to remain in halves for long. 

I had hoped to avoid a forced sale there, but this total shutout makes me think more in that direction.  It was enough to cause me to finally sit down and write her a letter, once the tax totals were entered, since she has avoided phone calls, and does not reply when I've left a note in her door. 

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