January, February, March, and April. When I ran my business, I spent most of my time during the first four months of the year on tax stuff. One out of every three years, I'd send more money to my accountants to prepare my tax returns than I'd be required to pay in taxes. My decision to retire was in no small measure influenced by the requirement of meeting obligations laid down in a tax code that was well beyond human understanding. At my expense, my accountants were required to tutor tax officials on the intricate dungeons of their own regulations, interpretations, and mis-interpretations. I'm forever filled with gratitude that I didn't need to finance the retirement nest-eggs of a few partners in a tax-law practice too.
I had no idea how wonderful it would be to celebrate Christmas and New Years without that sinking feeling of the tangle of red tape I'd be facing in the coming weeks and months. So -- I now have no income, but more importantly, I now have no tax worries either. April is now just another month: A month where flowers bloom, the snow disappears, and I can shop for new clothes.
I don't think many people have voluntarilly given up their businesses because of bureaucratic nightmares, but I'm sure a number have felt they had no choice. If life's menu includes only health and wealth, and you're only allowed to pick one ...
Cheers, PW. |
