Money Method: 5 Things to Think About When Filing a Tax Extension

Tax Day is nearly two weeks away. And if you’re reading this post, you probably haven’t filed your 1040 yet. Well, thank goodness for tax extensions. Actually, let me retract that last statement. It’s not a good idea to opt out for a tax extension because there probably will be a price to pay.

John Gregory, a tax practitioner and founder of 1040Return.com, which provides tax solutions for small business owners and individuals, suggests five things you should take into account if you plan to file a tax extension with the IRS.

No. 1 - The Purpose of the Extension. Filing a tax extension gives you a grace period of six months, which pushes your deadline to October 15. However, there is a catch. The IRS allows you the extension for the sole purpose of arranging for and organizing your documents. Do not assume that you are getting an extension for paying off you tax liabilities. You still have to pay at least 90 percent of your taxes by April 15. If you are trying to buy time to put off your tax payment for six months, it won’t be a wise thing to do. The IRS will charge interest on the unpaid tax obligation. This means, you will have to shell out more money.

Emerging Artist: Paula Boggs

After shattering glass ceilings in corporate America, Paula Boggs decided to walk away from it all to pursue music

(Paula Boggs)

It’s not every day you hear of someone leaving the corporate world to pursue their love for music. So when I received a press release in my work e-mail with the subject – Starbucks’ Former General Counsel Paula Boggs makes bold decision to leave the world of law and business to devote herself to music – I was compelled to find out why.

Turns out Paula Boggs, who is a Black-American woman, spent nearly 30 years breaking through glass ceilings in corporate America. Boggs was an Airborne Army officer, and she also served on the White House Iran Contra task force. Her most recent gig was at Starbucks Corp. Boggs was the top lawyer of the global coffee chain and she reported directly to the company’s chairman and CEO, Howard Schultz. Boggs accomplished several accolades during her career and has been recognized by Fortune and NASDAQ as one of the most respectable legal counselors in America.

Boggs decided to leave it all behind and dedicate herself to the critically acclaimed career of a singer-songwriter. She found her love for music at the age of 10 and considers herself as a “lifer musician.” She is now venturing toward what she calls her "true north" by pursuing music with the same dedication that fueled her corporate accomplishments. 

Her journey to music didn’t come out of the blue. After a tragic accident killed her sister-in-law in 2005, Boggs picked up her guitar to heal. It had been years since she Boggs played but gradually, songs came to her and she had a creative reawakening.

Money Method: Focus on Your Credit

One last tip to protecting your financial identity

The first weekend of spring prompted me to get out of the house and into the movie theater to see Will Smith on the big screen as a classy, smooth talking, con artist in the romance/drama packed film Focus.

Smith’s character, Nicky, and his crew cleverly stole just about anything of value from their unsuspecting victims. They took credit cards, watches, camera lenses, jewelry, clothes and anything that could be sold online. The movie was a learning lesson and a reminder to
always be on guard with my valuables, but most importantly it reminded me to stay focused on my credit and protect my financial identity.

Diggin in the Crates: It's Spring Again

 

If you live in the Northeast region of the United States you've been anticipating the first signs of Spring. Unfortunately, the first day of Spring came with a blanket of snow, which gave people a reason to post their disappointment all over social media with images and memes poking fun at Mother Nature. 

There was one post that caught my attention which reminded me that Spring is on its way. Artist Demont Pinder dug way back in the crates to 1989 for Biz Markie's rendition of the blissful, blooming, blossoming season with the music video – It's Spring Again. 

Click the YouTube play button below ... 

Let us know what track reminds you that Spring is coming in the comment box?

– TCsViews

Trending Reads: Instinct by T.D. Jakes

If you've ever felt like you are stuck in a rut when trying to figure out your purpose in life, Bishop T.D. Jakes' Instinct: The Power to Unleash Your Inborn Drive, is sure to lift you out of the quicksand of despondency. 

Jakes speaks directly from his own personal experiences and he pairs his advice with several metaphors from a safari he went on while visiting South Africa. He opens with a superb example of the human instinct. “Our instincts are the treasure map for our soul’s satisfaction. Following our instincts can make the crucial distinction between what we are good at – our vocational or skill set – and what we are good for – the fulfillment of our purposeful potential.” 

Empty-Nest Chronicles: Empty-Nest at 40

On March 3, I celebrated my 40^th birthday. Three months from now my son will take his walk across the stage for his high school diploma, and I’ll officially be an empty-nester. Did I mention that I’m 40?

More Empty-Nest Chronicles 

When people learn that I have a child in college and one who is about to graduate high school, they gasp and ask, “How old are you? You look too young to have a child in college or high school.” I then inform them that I started my family at the age of 20. “Oh. You were so young. At least now you’ll get to do all the things you didn't get to do when you were in your 20s.”

Their comments lead me to Google the following:

Better Said Than Written: Lack of Intimacy in the Black Community

Welcome back to Better Said Than Written, the podcast supplement of Arts of Cultures where I make a personal connection with today's trending topics.

Rare Disorder Activist, Kim Ramsey is back! Ramsey, who works in the medical field, graces us with her knowledge to discuss the lack of intimacy in the Black community, Blacks in S&M, and other sexual discussions that Black culture keeps under wraps. Grab those headphones, click the blue play, and enjoy the show.

*Incase you missed the first part... tune into: Kim Ramsey Pt. 1

(Art work by DWats)

What you've missed on Better Said Than Written:

Episode 05: Young Voices Discuss Social Injustice of Mike Brown

Episode 04: Introducing Kim Ramsey Pt. 1

Episode 03: How To Be Black

Episode 02: Domestic Violence - What Are You Doing?

Episode 01: Things I Tell My Black Son

Want to be a guest and join in on the conversation? Email your requests to TCsViews@gmail.com.