The trouble with taxes

This morning, I didn't need my alarm clock to awaken me.  Yet, I know I'll be exhausted by both the end of the day and by the end of the weekend.  And all of this is because of taxes....

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As I've mentioned before, I have had to find a new tax preparer because my old one retired.  I thought I had been lucky to know someone in the Trans community who could do this work. But her health problems got in the way, and she had to bail on doing my taxes.  This left me with 3 weeks to get my taxes done and no one to do them.

The first thing I did was to make an emergency call to my former tax person, and I got the name of a new person.  This was the person who took over some of her old business, and is located in the old office space.  YAY!!!  Even better, this person is hungry and wants new business.  So, I'll end up picking RQS up at the station and driving down to my Trans friend to pick up my paperwork.  And then, I'll deliver this packet to my new tax person in Queens and hope for the best.

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This will be a half and half weekend for me.  At least, I'll be able to take RQS out to the movies and relax for a little while....

 

 

PS: We picked up the tax paperwork from my Trans friend on Friday, then delivered it to my new tax person on Saturday.  Although it rained like cats and dogs, I made it safely to Queens, where the new tax person is located.  And then, after an hour of waiting (we were in line to meet with this new lady), we had a pleasant conversation and a good idea of what the tax preparation would cost and when it would be done. It's a nice feeling to know that this headache is going away, and that I'll be able to focus on good things again.
 

Frustrations with tax preparation

 

I got myself into this by retaining the financial tie that bound me to my brother - the old family homestead. Now, I have to get the paperwork regarding this property before the new accountant can start work.  AARGH!  This kept me up over the weekend, and my brother's unavailability is causing me grief.

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The other day, I dropped off paperwork with the accountant and was told that I didn't supply all the information needed.  Well, part of this was an oversight on my part.  And part of this was simply being in a rush.  Either way, I have to get things done within a month.

Now, my brother can and will make himself unavailable when he doesn't want to address an issue.  He does this with my sister in law, so that he can avoid the arguments that can and will come with a wife who is not always in control of her life.  I think he's making himself unavailable to me, as he knows that he didn't give me enough documentation so that I can go to a new accountant.

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My brother has always been a frustration to me.  As a younger child, he was coddled (as typical for younger children) and treated more leniently than I was.  (In his teenage years, he became a terror.) We were always at loggerheads, as he was trying to find his way in the world.  As an adult, he has taken on a lot of responsibility, maybe too much for me to depend on him for much.  He took on responsibility for looking after my dad in his final years, since he lived 5 minutes away from my brother.  And now, he takes care of the paperwork on the family homestead.

Although owning the house and keeping it as a rental provides me with some benefits, I'd rather not have this headache to deal with.  I don't really understand what my brother is doing, and I know that if he were to die before me, I wouldn't know what to do.  After this year's frustration, I think I will tell him that I want out of this partnership, as I don't feel in control of important things in my life anymore.  And I need that feeling of control.  The big question is - how to get this point across to him and preserve the family relationship between us?

Sometimes, one has to seek out help

 

 

I've never tried to hide my age, as I'm an old TG woman and see my time on this earth getting shorter and shorter.  This doesn't frighten me as much as the thought of not being able to have my affairs in order at any time.  So, the thought of losing control of things as I'm coming to full retirement benefit age worries me a bit.

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About a month ago, my long time tax preparer decided to retire.  Although I knew this would eventually happen, I was still a little bit shocked when I heard the news.  I never had to look around for someone to take care of this need, and now I have to do a search when I need constancy the most.  The 2023 tax year had me receiving an unexpected bonus payment of a survivor's social security benefit from which taxes should have been withheld. And the 2024 tax year will require that taxes get withheld from benefits paid to me.  Dealing with these things should be simple.  But there are so many of them coming in at once to be dealt with that I can get overwhelmed thinking about them.

Luckily, I have one person I can call for help with my taxes and with tax planning.  Yet, I am looking for more than this person to choose from.  Hopefully, I will find the person I need soon, as I am not looking forward to this year's tax season....

Tax Paperwork Collection - a short post

 

At this time of year, most of us should have received all needed tax forms, and be ready to file our Federal and State tax forms.  In my case, I have enough paperwork coming in from enough places that I have to check each sheet against a list I've made to insure that I have everything needed for my accountant. Since my brother takes care of a the finances of a joint investment we own, I end up waiting for an extra month before sending paperwork to my accountant.

This year, I have to ask my account a simple question.  Does it make sense for me to drop the maximum amount I can contribute into a Roth IRA?  I'm not sure of where the stock market is headed, but I know that I want the tax advantages of a Roth IRA, as I will not need the principal invested for at least 5 years. (It makes sense for me to work part time, so that I can put money into this type of IRA.)

The big question I have to ask of myself: Do I want to work part time after I reach the age where I can collect Social Security?  What are the tax consequences?  How much more paperwork will I have to deal with if I do so?  (I can only imagine the headaches I'll face if I ever change my name....)