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Speaking of money, this blog today...it's gonna be short and it's gonna be sweet. Sometimes to be honest, after a long hard day of reporting, metrics, and analysis at work, I would like nothing more than to rest my feet up and watch the last few episodes of the Real Housewives of Beverly Hills or the last few episodes of RuPaul's Drag Race. Most of the time, I can't! Lately, I have been working my butt off to earn as much moolah as possible. I'm sure everyone can relate.
Over the weekend, just as I was beginning to breathe a little (financially-speaking) due to my new coaching clients, I received some devastatingly upsetting news concerning my 2011 taxes. Yes, I said 2011 taxes. It appears that my extremely overpriced and not-nice accountant forgot to include one of my 1099s from 2011 and that amount essentially doubled my gross adjusted income. How come you didn't look, you might be saying? I trusted him implicitly. My bad, clearly. When I reviewed the numbers weeks later, I figured that being a consultant and having so many write offs, it seemed low, but it had to be right. Well...they weren't. It was wrong. Therefore, now I have this lovely bill from the IRS for a substantial amount. And, when I say substantial, I mean substantial.
I just want to be clear that I take full responsibility for this situation. I should have better prepared with quarterly estimated taxes, saved money, etc...but I didn't. I have no one to blame but me. I got myself into this mess and I am going to get myself out of it. All by myself! Yeehaw!
Obviously, I have confirmed that I do, in fact, need to pay this substantial amount, or most of it. Hopefully, with some luck, they will waive the penalty. Fingers crossed.
Now, here are my options.
1) FREAK OUT!
2) CRY AND THEN CRY SOME MORE!
3) RUN TO ECUADOR. (I haven't been there in many years).
4) GET BUSY AND MAKE IT HAPPEN.
For some reason, I have been quite calm about the whole thing. I mean, after my initial moments of freak out and while shedding a tear or three, I decided that Ecuador probably wouldn't be the best choice right now. Duh! That left one option and one option only... Logistics. Do everything possible to ensure that I can pay this substantial amount over the next twelve months. I say twelve months because the government is not keen on more than a 12-month installment agreement...or at least that's what I've learned.
So, I am making the big decisions, being a responsible adult, and making this happen. I might even get a part-time roommate for my extremely large one-bedroom or vacate my apartment altogether. I pay way too much for that muffler, anyway. Just doing everything possible to ensure success.
To be honest, it's way more productive than freaking out or being depressed. Instead, I get to be creative, focus on abundance, and do everything in my power to avoid turning tricks (Kidding, Mom & Dad). I'm not saying this always works, but it's working for me now. It must just work for others too!
I forgot to mention that I am having ankle surgery next Friday, so that will be a "little" added expense (Ha!) AND I am about to calculate my 2012 taxes. These next few weeks will be interesting and I will keep you all updated.
I still don't understand why I am not freaking out more, but I believe I truly have surrendered to the reality of the situation. Somewhere, deep down inside, I know the best is yet to come. It has to be!
1) This week, I have been featured by the International Coaching Federation's (ICF's) blog. Read it here!
2) I have to be honest that I have taken quite a few deep breaths this week. Three deep inhales followed by three deep exhales is ALL I need to relax myself. What works for you?
3) Stay tuned for more blogs on the ICF website as well as on Huffington Post!
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A Smile From The Inside :)