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. Since Relax Tax helps our clients focus on planning for a better future, we thought it might be fun let our blog address 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 1986.
1986 Big News Story
The Challenger Shuttle Explodes
1986 began in tragedy, with the explosion of the Space Shuttle Challenger on January 28th, just 73 seconds after takeoff. In April, a flawed reactor caused the Chernobyl nuclear disaster in Ukraine. However, 1986 was also the year of triumph, as legendary golfer Jack Nicklaus won his most improbable Masters Championship at the age of 46. Halley’s Comet also returned, for its first visit since 1910.
1986 by the Numbers
Economic Data from 1986
Grocery Prices from 1986
Personally I would like be able say that my acing my Accounting 1 class with Mrs. Collins was the highlight of my year but unfortunately it was not. 1986 six wasn't a great year for me. 1968 was the year that it was determined my knee needed surgery. I had torn may ACL in the first round of the the state playoffs in November of 1985. But back then you just played through the pain. I played the Thanksgiving Day game the next week in a knee brace.
Remember Thanksgiving Day games? Then on December 7th 1985, I played the entire the state final with the torn ACL. It wasn't till it simply wouldn't get better that we had a Dr looked at. Though it was personally crushing but it did allow me to get more focused on studying.
I do remember exactly where I was when hearing that Challenger had exploded. Because it was the first teacher in space all of the schools had lesson plans based on the challenger. Personally I was in the lunchroom when the word of the accident started spreading through the school.
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.