It’s that time of year and it’s a whole new world

Hooded Oriole sipping the aloe nectar.
Hooded Oriole sipping the aloe nectar.

I’m talking taxes. The Gypsy Carpenters just went through their annual tax reporting. As we all knew, know, or will know, the so-called tax reform does not favor the small time business owner. Taxes were confusing before but we knew the system. Now nobody knows the rules, including, it seems, the TurboTax e-filing program. A person of average intelligence should be able to file their own taxes without emotional trauma or fear of misreporting. Filing was difficult before the reform. Today, post-reform, I have no idea what when why or how. It was ugly. We owe so much that retirement looks more profitable. You think I’m kidding? I am not. Looking at you, Mr. Trump. Our main hit was caused by changes to rental income. What once was a legal and reliable loss or net even for us is now income. Substantial income. Also troubling, the TurboTax program is double counting my 1099 income. I can’t get it to take it once with appropriate deductions. It’s either in twice with deductions or in once with no deductions. A person of standard intellect should be able to manage. Tears were not shed but they were there caught in my lashes wanting to break free. I will not cry over you and your assaults on the small business owner Mitch McConnell and friends.

What does any sane person do in this situation? I estimated our taxes due and filed extensions with the feds and the state and sent them a ton of money. And now I put my head in the sand until we return to the US and I can find advice. The way I currently read the tax situation it does not pay to be a part-time entrepreneur.

Meanwhile Burt has a hernia and our livelihood is at stake. A surgical repair is required for him to get back to work. No heavy lifting from now until six or more weeks post surgery. We’re trying to figure out how to schedule the operation and recovery so Burt can get to work as scheduled. At least our Baja house is at a place we can leave it until Burt and our bank accounts recover.

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5 thoughts on “It’s that time of year and it’s a whole new world”

  1. We are dismayed to hear of Burt’s hernia! To make matters worse, it’s not even something you get to keep in a jar after surgery. Sorry, Burt. Hope this is in the distant past as soon as possible.

  2. :(

    Best of luck! Hope you are now covered under the Mexican health insurance, and can find competent close-enough-to-local surgeon and facilities!

  3. We are near lots of good medical care. No insurance but it’s not needed for this. Out of pocket is still less than in the US with insurance.

  4. Hoping you both feel much better soon. I did our taxes, and for the first year in decades I didn’t work in my business, so we came out on the plus side. This year I’ve started working again, and it will be interesting to see the tax outcome.

    I’m so happy for you that your house is taking shape.

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