You may have noticed that there was no blog post this past Monday. I want to explain why this is the case, and why I will likely be blogging less frequently in the near future.
The truth is, I have fallen in love with the tax code. I read about it constantly. I stay up at night thinking about it. I can’t do any writing because it means time away from thinking about itemized deductions and the alternative minimum tax.
I am a man who sometimes gets swept away by my passions, and my passion for the moment is taxes. I’m going to go with it and see where it takes me.
You are probably asking, why? Why taxes, of all things? Well, I don’t have a perfect answer to this question, but here are some thoughts:
- Every single person in this country has to deal with taxes. That’s a huge pool of people I can potentially help with my newfound tax knowledge.
- Most people hate taxes and get stressed out thinking about them. To me, tax planning is like a fun game, and the tax code is just a big manual for the game. Taking peoples’ stress away and getting to play a fun game is a double win!
- There are levels to this. I can start out with very simple tax returns. Then I can move on to more complex ones. I can eventually become an enrolled agent, and represent people when they get audited. Maybe someday I can take the U.S. Tax Court Non-Attorney Examination and represent people in tax court. Heck, I could go all out and be a tax lawyer at some point. It feels a lot like the belt system in karate.
- Doing tax returns can be repetitive, but I
likerepetition. Poker is pretty repetitive and I haven’t become bored with it yet. Each tax return will have its own subtle distinguishing factors, and that’s good enough for me.
- There’s no sign of the tax code getting simpler any time soon. Seems like this could be a reliable income stream to add to the mix.
- Tax preparation would be a great business to involve my son in when he gets old enough. He can handle the simpler returns and free me up to do the more interesting stuff. He will learn a lot, and there are lots of financial benefits to hiring your child, including tax benefits.
- There is something absurd, mysterious, and magical about the tax code. This one is hard to describe. I am just drawn to it.
So that’s where things are at right now. Studying tax stuff. Going to participate in the Volunteer Income Tax Assistance (VITA) program this spring. Maybe some day I can do your taxes. I’ll let you know when I’m ready.