This year’s Tax Day, April 18, 2022, is now in the rearview mirror. Rare is the person who enjoys prepping for the filing of their tax return, much less, writing the checks! I am thankful it only occurs once per year. Sometimes the best way to counteract an unpleasant situation is to add a bit of levity. Here is some tax-time humor for your reading enjoyment.
Q – Why didn’t Sherlock Holmes pay a lot of taxes?
A – Because he made some brilliant deductions! (J. Stephens, CPA)
A fine is a tax for doing something wrong…a tax is a fine for doing something well!
Q – Where do homeless accountants live?
A – In a tax shelter, of course! (EmailStopwatch)
Q – What is the difference between death and taxes?
A – Congress does not meet every year and attempt to make death worse! (BJM)
Client to their accountant – What is the difference between the IRS short form and the long form?
The accountant responds – If you use the short form, the IRS gets all your money. If you use the long form, I get all your money! (R. White, CPA)
Q – Why doesn’t the IRS ever audit cows?
A – Because the farmers have already milked them dry! (Jokes4us)
(My apologies to the wonderful local CPAs we partner with, as several of these jokes came at their expense!)
On a serious note, at Master’s we make tax-savings and tax-efficiency a significant part of the financial planning process. Our approach has always been to look for the ways to minimize your taxes. Sometimes we are focusing on tax savings for today. Other planning strategies focus on tax savings for the future, or even for the benefit of your heirs. Regardless, we want you to pay only the tax liabilities that cannot be avoided, but certainly not volunteer to pay any taxes that could have been eliminated with good planning strategies.
Thank you for the privilege you have given us to “walk beside you” in your financial planning, and navigation of life’s journey. Your friendship and trust is so important to us, and we do not take it lightly.