Brad's Blurb

Have you ever felt like your day-to-day routine was becoming too monotonous?  Or felt that you were stuck in a rut going through life’s motions as if on autopilot?  If so, then you have probably also heard that quiet voice whispering in your mind telling you to “change it up a bit”, “live a little”, or “do something different”.  Below is a short list of 16 suggestions and reminders (provided in a blog by Howard Thurman) to help stop just going through the motions.  Take off the autopilot and incorporate changes into your daily routine to help recharge yourself.  Several of these resonated with me.  For example, reference #3, I recently pulled out some old Johnny Cash CDs that I had not listened to in many years.  All I can say is that the music was pretty darn good!   Wild and crazy stuff…living on the edge indeed.  Hey, at least I mixed it up a bit.  Reference #11, I recently drove an alternate route home.  Lo and behold, I found a store I was completely unaware of, that provided a service I drastically needed: clothing alterations.  Like ta-da-you know it!  Just me switching off that autopilot occasionally.     

  1. Appreciate what you have          
  2. Eat something different            
  3. Listen to a different type of music
  4. Make time for others     
  5. Enjoy the small things
  6. Forgive and move on
  7. Disconnect from technology
  8. Travel…anywhere!
  9. Take a chance on something
  10. Give someone a gift just because   
  11. Take a different driving route home from work
  12. Declutter
  13. Spend your weekend in a way you usually don’t
  14. Take a long walk in the rain      
  15. Free up some time for lounging around or having fun
  16. Just do something new or different with your free time

Now to switch gears completely.  A common question asked during each tax season is how long should tax records/documents be kept?  Here is what the IRS webpage says about this.   

The length of time you should keep a document depends on the action, expense, or event which the document records. Generally, you must keep your records that support an item of income, deduction or credit shown on your tax return until the period of limitations for that tax return runs out.

The period of limitations is the period of time in which you can amend your tax return to claim a credit or refund, or the IRS can assess additional tax. The information below reflects the periods of limitations that apply to income tax returns. Unless otherwise stated, the years refer to the period after the return was filed. Returns filed before the due date are treated as filed on the due date.

Note: Keep copies of your filed tax returns. They help in preparing future tax returns and making computations if you file an amended return.

Period of Limitations that apply to income tax returns:

  1. Keep records for 3 years if situations (4), (5), and (6) below do not apply to you.
  2. Keep records for 3 years from the date you filed your original return or 2 years from the date you paid the tax, whichever is later, if you file a claim for credit or refund after you file your return.
  3. Keep records for 7 years if you file a claim for a loss from worthless securities or bad debt deduction.
  4. Keep records for 6 years if you do not report income that you should report, and it is more than 25% of the gross income shown on your return.
  5. Keep records indefinitely if you do not file a return.
  6. Keep records indefinitely if you file a fraudulent return.
  7. Keep employment tax records for at least 4 years after the date that the tax becomes due or is paid, whichever is later.
  8. The following questions should be applied to each record as you decide whether to keep a document or throw it away.

Thanks for reading. 

Brad

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