life death & taxes

september

jUST A NOTE



JUST A NOTE

We all have three certainties Life, Death and Taxes. I don’t want this newsletter to just tell you the latest in the tax bubble because not one of us lives in that vacuum. There are things in my business that transcend and affects any business. I have experienced some things. You have too. Inequity, unfairness, hate, love, and the list goes on and on. So, while I’ll talk about taxes, I’m also going to cover some things that touch us all. About death. We trim our plants. We leave stuff or people behind. We end relationships and we lose things and people in our lives. But like our plants, we’ll grow from it. And so it begins. Our second installment in our attempt to keep you in the loop about things going on in our business and our lives. With all that in mind, it seems we’re on somewhat of a roll. Let’s see where this takes us, shall we? Rick
Inflation and how it really affects us.
“I got a raise!”
Are guys with guns really going to show up at my door?
God Save the King
“People who switched jobs saw their wages jump by a record 6.7% on average in the 12 months through July.” Our lead quote from our last newsletter and there were others that got a 5% or 6% raise as well. Great. But, the truth is they’re still behind the 8 Ball since inflation is over 8%. Stuff still costs more and it’s not just groceries and gas. Travel, clothes and check out the menu at your favorite restaurant. In short, try getting a decent steak for under 40 Bucks or a burger for under 20! The Federal Reserve is believed to be close to another interest rate increase. That means fewer people will be able to afford a new home or refinancing will be less an option if you happen to need some extra money for some other “life” events.
In the words of Doc Holiday in “Tombstone”, “That’s the Rumor.” Yes, there are IRS employees that carry guns. But, them showing up at your door in the dead of night, or otherwise, is about as likely as you being struck by lightning or winning the lottery. Their job title is “Special Agent”. They investigate and enforce the criminal side of tax laws. Tax Evasion is not like Tax Avoidance. Special agents have been around since we have had an income tax. They came into the spotlight when they investigated and saw Al Capone indicted, tried and convicted for Tax Evasion. That involves unreported taxable income. When most of us don’t report income, it’s a simple error or something like a 1099 we didn’t know about when we filed our returns. That’s not a criminal offense. The people most likely to ever see a Special Agent are Drug Dealers and the Mob.
Most of us were saddened by the news that Queen Elizabeth II had passed away last week. To most of us, she has been the Queen for nearly all of our lives since her coronation in 1952. She embodied style and grace in her unique position of leadership. Our very roots run deep in England. To the British, she was more than just a queen. In their minds, she would be compared to theAmerican flag. She represented who they areas a people. Charles has some “big shoes to fill” so to speak. God Save King Charles III!
As Always, Thank you for reading!

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