As any of my regular readers know, I am a veteran and proud of that fact. Surprisingly, I am also at a regular loss of words when it comes to expressing my love, admiration, and thanks for those who have and continue to serve. I think that military service is one of the highest forms of respect and service that can be shown and given to our Nation.
Maybe I have become jaded with age, but it amazes me every time I see young men and women choose to serve others before themselves. I personally think that, like many other nations, every American should be required to serve our Nation in some capacity. That belief is tempered by my knowledge that only the best and brightest “choose” to do so today, setting themselves apart and ultimately in my eyes above those that “choose” not to serve.
I believe that this video accurately expresses that feeling and the respect we should all have for our Veteran’s.
Since Memorial Day (Originally Decoration Day) first started in the 1860s as a way to honor those that had fought and died in the Civil War, much has changed. Traditional observance of Memorial Day has diminished over the years. Many Americans have forgotten or never known the meaning and traditions of Memorial Day. At cemeteries across the country, the graves of the fallen are increasingly ignored and neglected. Most people no longer remember the proper flag etiquette for the day. Even sadder, some people think the day is for honoring any and all dead, not just those fallen in service to our country. And while there are towns and cities that still hold Memorial Day parades, many have not held a parade in decades.
I have had the unfortunate honor and privilege of both escorting our fallen soldiers on their return to the US from Iraq and Afghanistan while working at Ramstein Air Base in Germany and participating in the graveside services of veterans as a member of the National Guard. In both instances I had the distinct feeling that I was performing a sacred duty and that it was my utmost responsibility to carry out that duty in the most professional and humble way possible. Again, I find myself turning to video to convey my true feelings.
On this Memorial Day, please remember those that have given everything to our country and helped to make it great. In closing, I would like to share the following:
It is the Soldier, not the minister
Who has given us freedom of religion.
It is the Soldier, not the reporter
Who has given us freedom of the press.
It is the Soldier, not the poet
Who has given us freedom of speech.
It is the Soldier, not the campus organizer
Who has given us freedom to protest.
It is the Soldier, not the lawyer
Who has given us the right to a fair trial.
It is the Soldier, not the politician
Who has given us the right to vote.
It is the Soldier who salutes the flag,
Who serves beneath the flag,
And whose coffin is draped by the flag,
Who allows the protester to burn the flag.
My last article focused on tax savings tips, unfortunately, I haven’t even started on my 2009 tax return. Needless to say, I’ll be filing for an extension instead of rushing to finish and file my 2009 tax return by April 15th.
If you’re in a similar situation, you may want to file a Form 4868, Application for Automatic Extension for Time to File U.S. Individual Income Tax Returns. Particularly if you need more time to do a thorough job preparing your tax return. This has affected a lot of tax filers this year who have had to deal with many of the new tax issues/changes that took effect in 2009.
Another reason to file an extension is that many financial institutions are still sending corrected form 1099s with revised amounts for qualified dividends and foreign taxes. Taxpayers with investment income may want to file an extension if they typically receive a corrected form 1099.
Filing an extension is pretty easy to do and gives you a huge advantage – an additional six months (until October 15th, 2010) to file your final 2009 tax return. Not to mention it will save you time and money later. This is because you will owe the IRS penalties and interest if you don’t file a tax return or at least an extension by April 15th.
One commonly overlooked and costly mistake faced by many who may consider filing or do file an extension – the need to file an extension for your state tax return as well. This is an easily avoided, yet costly error, so don’t do it.
Even though filing an extension gives you an additional six months to finalize your taxes, it does NOT give you an extension to pay the taxes you owe. If you think that you may owe taxes, then you will still need to calculate a reasonable estimate of the taxes owed and submit a payment with your Form 4868.
Be sure to pay at least 90 percent of what you think you owe to avoid any late payment penalties. Additionally, if you want to avoid paying any additional interest for paying late, you have to pay the full amount of the tax liability owed. (NOTE: Currently the IRS interest rate for late payments is 4 percent, so maybe it isn’t a big deal, but I hate having to pay one cent more than I need to.) This is one area where it pays to error on the side of caution – READ AS “it is better to overpay versus underpay” to avoid a hefty penalty.
Lastly, don’t worry — according to the IRS, filing for an extension does not make your return any more likely to be the target of an IRS audit.
As always, I recommend that you work with a “Financial Professional”, in this case a CPA or tax professional. Specifically a CPA or tax professional that understands the business of taxes and finances and can provide trusted advice and services during the tax season and throughout the year to come.
Finally, don’t feel bad about trying to save money on your taxes – don’t cheat, but definitely do everything legally in your power to avoid them. As a little motivation, a quote from Judge Learned Hand – “Anyone may so arrange his affairs that his taxes shall be as low as possible; he is not bound to choose that pattern which will best pay the Treasury; there is not even a patriotic duty to increase one’s taxes.”
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