Casa Grande, AZ: Who New Retirement Would Be So Taxing?

Today we shipped our tax information off to our account. Finally. We have been waiting for the last 1099 to come in for the RV mortgage. I knew the deadline for mailing 1099's had been extended from January 31 to February 15 for financial services/mutual funds. This was because almost 90% of the 1099's sent last year by January 31 had to be re-done and mailed later when all the changes were finally said and done at the mutual funds. 

So to keep the financial companies from having to send 1099's twice again this year they extended the deadline by two weeks. 

It seemed everyone and their brother took advantage of this new date for 1099's and some companies even missed the new, later date. Personally I think it's because none of them wanted to send out statements showing just how bad last year really was. 

That said, sending the 1099's late was not the worst part. That I could handle by simply sending my tax info to the accountant a few weeks later. More work for the tax accountants who now have to do the same amount of work in a shorter period of time. Unless the IRS is allowing a later date for paying your taxes and I didn't hear about it. Anyone? I didn't think so. 

Nope, the worst part was receiving 1099's that (essentially) said "even though we lost 30-50% of your money, you still owe taxes to the government....". I mean, how can you owe taxes when these clowns turned your 401K into a 201K? OK, OK, technically you only owe taxes on your taxable accounts, not on your non-taxable accounts but you get my point -- these guys lost your shirt but still want you to pay the laundry charges for washing the shirt. Ouch!

I try not to dwell on it. My financial advisor tells me everything will be fine. Fine that is, as long as 

1. the stock market improves by 500% in the next 18 months
2. the housing market turns around and my house doubles in value
3. health, dental and optical care is nationalized by Obama/Clinton and is free
4. the Trillions being spent by Obama does not increase the deficit and is not inflationary

Just to be safe I've been studying for my 2ND career by saying (aloud) "Do you want fries with that?".

In any case, now that the taxes are off to the accountant now we sit back to see how much (more) we owe the government.

Who new retirement would be so expensive?

See Ya!