When the calendar turns to April, that means tax D-day is not that far away. Most of us file early since most filers will be getting “refunds”. First, the definition of a tax refund is the IRS returning some of your hard-earned money back to you, without any interest. There are many times that, when I’ve asked potential clients how much taxes they paid last year, the answer is almost always the same. “I didn’t pay any taxes last year, I got a refund” is a very common answer. When I rephrase the question to “how much of your money did you leave with the IRS”, the answer is very different. Regardless, if and when we do get a refund, it seems like a bonus. Hopefully, if any of us get one, we use it wisely.
Occasionally, I do get asked about an inheritance question. With the baby boomer generation reaching life expectance, sometimes there might be debt inherited. I found the attached article about what to do if that happens very enlightening. If you do have any questions about any generational transfers, please give us a call and we’ll see if we can help.
I hope you all had a wonderful day celebrating Easter. Now, the question becomes “what to do with all the hard boiled, colored eggs. For years, Jean and I celebrated this tradition with our children. When the time came to deal with the eggs, Jean actually had to make two different batches. I like mine a little sweet with come pickle relish and Jean likes hers with lots of seasoning, some of it on the hot side. Our daughter, Laura, did a great job for me. So, should you have that issue to deal with, I hope the deviled egg article will help.
Finally, the first quarter of 2018 was a little rough for the equity markets. April may tell a different story as the estimated earning report looks to be very strong. So, as we start the month, enjoy spring with all its radiant glory. As the flowers start to bloom, let’s all just appreciate the fact that we live in a pretty good place.