This has been the strangest tax season that I have ever encountered and it is taken it’s toll on me. Normally January thru April is a work marathon. My mindset is taxes during this time. We focus on what needs to be done each day. We keep doing that until all is done.
This year April 15th wasn’t truly April 15th, the tax due date, it’s now July 15th. Some tax laws are changing and rules are being clarified each day. The clients we serve now have issues that are more critical and time sensitive than taxes. I have to shift gears. Our small business clients are faced with many unique decisions – are we considered essential, do we stay open, if we do stay open how do we operate, how do we keep our staff productive and safe, do we apply for government aid, how do we follow the rules and get the loan forgiveness, what resources are available in my situation? The list goes on.
Never have I seen the government resources available like this before. Personally, I am very hesitant when there is a government handout. I live the American dream of being a self-reliant small business owner. At Focus CPA we’re fortunate. I have made business choices the last few years that financially strengthened the business. As a result, we are having our best year ever. In addition, our company was mature enough and strong enough to weather this storm.
I work hard to walk the talk. When I advise a client, in the back of my mind, I ask myself do I follow my own advice. The last two months have a been a true test. As life moves on, I look forward to the new normal and smooth sailing. We all know storms come up all the time.
Are you prepared?
Mary Guldan-Lindstrom, CPA