Looking back to 1977
We look forward not back
Does your accountant seem obsessed with last year? If you want to legally pay less in taxes, you need a professional who looks forward. Relax Tax helps our clients focus on planning for a better future, and not the past. If we want to look back at anything, we thought it might be fun let our blog look back at what we learned in the last 50 plus years. You can get a FREE COPY of the entire guide at back.relaxtax.com. Now lets take a look at 1977.
1977 Big News Story
Elvis Presley Passes at 42
1977 held lots of highs and lows for America. New York City suffered a summer blackout and the Son of Sam killings, and Elvis Presley died at just 42 years of age. The year also saw the release of the Apple II computer, the Atari 2600 video game console and one of the biggest motion pictures of all time, “Star Wars.” John Travolta and “Saturday Night Fever” helped usher in the era of disco, and home prices continued to spike.
Elvis Presley and Priscilla Beaulieu Presley first met when he was 24 and she was 14. Their age difference wasn’t a problem for Elvis, who thought he could mold Priscilla into his ideal woman. Going along with how Elvis wanted to shape her was at first acceptable to Priscilla. But as she grew older she began to seek more control over her own life, which was something their relationship couldn’t survive.
Elvis and Priscilla met when she was in the ninth grade
Elvis was stationed in West Germany during his stint in the U.S. Army. In 1959 Priscilla arrived in the country due to the Air Force transferring her father there. While she was out with her younger brother, a service member approached Priscilla and asked if she'd like to accompany him and his wife to meet Elvis. Her father, after checking in with the man's commanding officer, gave his approval for a visit.
On a November night in 1959, Priscilla, wearing a navy-and-white sailor dress, traveled to Elvis' temporary home in Bad Nauheim. She immediately captured the star's attention, even when she admitted she was a ninth-grader. He played several songs to impress her, including "Are You Lonesome Tonight?" But when she left that night, she assumed the evening wasn't going to be repeated.
1977 by the Numbers
Economic Data from 1977
Grocery Prices from 1977
Personally, I didn't understand at the time why Elvis was such a big deal. I do remember what a big deal was made over his death. Maybe it was cause I only knew "FAT" Elvis in my lifetime. As I grew older and learned the whole Priscilla story, I would ask, "how were people okay with this?"
Now that I am a father of a daughter, my mind is truly blow. As for Elvis's music, I could take t or leave it. As for his legacy, to me he will always be a drug addicted pig who ODed on a died on a toilet. By pig, I mean how he lived not because of his weight when he died.
A tax return is just a historical record of what happen financially in the previous year. If you don't think about your taxes until you start receiving your tax forms, then it is already too late. Click Here to schedule your risk free tax planning session.
If your tax preparer isn't doing tax planning with you, then you have the wrong tax preparer. If you do your taxes yourself with software and just "tweak" the numbers till you get the numbers where you want them then you should read our blog post on what could be in store.