In most relationships (hopefully) there is an equal split of the duties to keep the household running. From the day to day mundane indoor and outdoor chores to the more time consuming duties of paying the bills, investing and tax preparation, each partner must take his or her share and contribute to the family.
Well I’m here to tell you my ex was a tax preparation wizard and simply put, I HATE IT!
Now I’m very lucky that he is here to remind me to make the appointment with the accountant and throughout the year he drops hints as to what papers I should be saving and thinking about come tax time. For instance his big piece of advice is to have a folder dated for the year and put anything that could potentially be part of my tax return in it. Anything, even if there is a question about whether it can be used, put it in the folder. And with all of his help it certainly makes the process much easier, but I STILL HATE IT!
I’ve learned a lot since the divorce, I know I can handle this and I’m grateful to have an accountant who knows our situation and the nuances of filing our individual taxes being divorced, having a rental home as well as a special needs child. And here’s the key – having an accountant, who is knowledgeable about tax laws, knows your situation and can translate the IRS lingo into normal terms.
So how do you go about finding a good accountant? Ask around. Ask those you trust for recommendations, such as your financial advisor, lawyer, friends or family members. Ultimately you’ll get a name or two that you can go and interview to see if they’re a good fit.
I may not enjoy tax preparation very much, but I know I have people around me who can help me stay on the right path and answer questions along the way. It’s just I know my comfort zone, banking and investing for instance live right in the center of that zone, but dealing with taxes, eh not so much .
How about you? Do you dread tax prep or are you one who looks forward to seeing if all of your planning has entitled you to a nice refund or at least breaking even for the year?