Tuesday, October 11, 2022

Extension Day, 2022

When the extension forms were filed last April, I planned to work on the 2021 taxes for a few hours each week to avoid the October crunch.

Alas, that was just wishful thinking. The pain lies more in performing the calculations than in paying the bill, and the natural consequence of pain is...procrastination. We're itemizing deductions, which means 2021 will be a "shoebox return," a term that originated from clients throwing their paperwork into a shoebox and depositing same on the accountant's desk.

Several shoebox's worth of documents were strewn across the dining room table last weekend and summarized in Quicken and Excel. The data were subsequently re-entered onto input sheets (in the picture) which will be dropped off at the tax service on Wednesday.

So taxes are not quite done yet, but allowing for one re-run, the final returns should go out Friday.

The shoeboxes are empty and I've gotten into it, so I think that I'll work on 2022 a few hours each week to avoid the April, 2023 crunch....

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