Seriously, I tried to think of other topics to write about this month for the blog but the stifling heat was so ever-present that it enveloped me and dominated my thought process to the point that there could be no other topic this week. If you live in Arizona, you know that we are dealing with (drum roll please) record heat in June (go figure). Each year we act shocked that the temperature rises above 115% and sometimes near and beyond 120% in this desert paradise we call home. Yet, virtually the same scenario plays out each year at this time.
With the heat and dry conditions comes wildfires and one currently in Arizona has particular interest to me as it has engulfed over 17,000 acres on Mt. Graham where my family shares a cabin. You may have heard the news this past weekend when a summer Bible camp near our cabin area first dodged the inferno, followed by the telescope site near the top of the mountain avoiding major damage and lastly, our Columbine cabin area finally sidestepping the damage that could have easily occurred. We are very thankful our cabins are still standing and we owe a debt of gratitude to the firefighters who give their all in heavy gear on a hot summer day to protect the assets of others. The fire is still burning on Mt. Graham as a speak this and I pray that no other structures will be threatened and that as much of the forest can be spared as possible.
In the same manner that we as Arizona desert dwellers often “forget” how hot it can be here in the summer, we often can forget how difficult tax compliance can be if we aren’t focused on it or don’t have appropriate staff within our organization focused on it. Just like the forest fire being rushed unexpectedly up the canyon by a brief summer wind storm, we can be caught off guard by tax reporting and payment demands on our business and on us personally.
This doesn’t need to be the case. The famous saying goes, “if you are prepared, you shall not fear”. The best defense is a great offense. If you are assertive in putting together your game plan and strategy and your team, if applicable, you will be prepared for the required timing of reporting and payment of taxes due and will not lose sleep at night worrying about your tax reporting obligations. You will avoid those nasty surprises that too many people experience too often of waking up to the fact that they are in arrears on their tax obligations and reporting and are “suddenly” buried by the burden that the tax, penalties and interest place on them. It all could have been avoided and sanity maintained by simply staying up to date on these obligations as you go. We all know that it is true – it is much easier to eat an elephant one bite at a time – not all at the end when there is only so much room in the stomach to bare it.
We can help you stay on top of your tax filing and payment requirements and ensure that you are up-to-date so that you can rest easy and focus on what makes your business great. If you are a current client, you know this. If you are not yet a client, please contact us. We offer a free initial consultation.
Mark J Weech, CPA