In case you weren’t paying attention to the calendar, this Wednesday is tax day!

I wanted to give you two quick thoughts about that and let you enjoy the rest of your Sunday.

First, there’s a great quote from Supreme Court Justice Learned Hand (yes, that’s his real name) from a 1934 case that says:

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 Treasure; there is not even a patriotic duty to increase one’s taxes.

So when you hear people talk about saving a bunch of money, so long as they followed the rules, try to be happy for them.

Second, a piece of advice.

If you find yourself in the unfortunate position of owing money for taxes and not being able to pay for them, DO NOT put off filing your taxes.

The penalty for not paying your taxes is .05% per month. Yes, point zero five percent.

The penalty for not filing your taxes and not paying is 5%.

The penalty is 100 times harsher for not filing.

So file. Extend. Do something. Just don’t do nothing.

Have a great week!

Sincerely,

Christopher Small
Owner
CMS Law Firm LLC

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