Paris, you ain’t a f*&%ing punk, yah tourist! – NYC Punk Rocker, upon seeing Paris Hilton wearing a Ramones shirt, 2001
If you think about it, tax preparers – like you’ll find at Bourke Accounting – are akin to musicians: they have to keep time with the song they’re playing, they must have a working knowledge of the rules and structure and, most importantly, they have to know how to be innovative without descending into a world of chaos (and penalties). Think of it like this: there is a huge difference between Tekashi6X9 and The Jimi Hendrix Experience. One is irritating noise that is technically music, one is life-changing art.
In 1974, popular music was pretty much nowhere. We had the soulless arena rock of Queen (yeah, I said it), there was the wanna-be sensitivity of The Eagles and the sanitized, over-produced offerings of Steely Dan (not to mention the one-step-away from feminine hygiene jingles of Barbra Streisand). In 1974, popular music had no meaning, no emotion and all of the charm of damp toilet paper stuck to the collective finger of America.
And then, when it seemed that there would be no stereophonic salvation, four funny-looking guys with an obsession for bubblegum pop convinced an NYC bar owner to let them play. The Ramones had arrived at CBGB’s to save the day (and our souls).
What was interesting about The Ramones was that they didn’t sing about “bands on the run” or how “you ain’t seen nothing yet.” No, no, no, The Ramones gave us autobiographical ditties that, at first listen, were cute and energetic. However, there was nothing cute about the confessional song, “53rd and 3rd.” This song depicted bass-player Dee Dee Ramone’s experiences as a professional lover on a well-known Manhattan corner. As it turns out, Dee Dee had a love for pharmaceuticals and no desire to get a proper job. Also, the upbeat song “Beat on the Brat” was Joey Ramone’s observations based on his neighborhood, illustrating children running wild and parents with a penchant for corporal punishment.
The hippie protest songs of the 1960s advocated rebellion against unfair higher powers with an inclusive, “we love everyone” vibe. Punk rock wasn’t quite as optimistic. Punks knew that just saying you love everyone didn’t make it true. Punks were cynical, learning at a young age that “heroes” who espoused “all you need is love” were often the same men who mercilessly abused their nearest and dearest. Punkers were honest in their nihilism and belief that the world really was as bad as a hippie with a peace sign and a clenched fist. Punk rock and The Ramones didn’t sugar-coat to make anyone feel better.
While there is a depressing, truthful element to punk and The Ramones, there is also an idealism that suggests that we will get through this, too. The thundering bass, the simplistic, war-like drums, the staccato singing and the screaming guitars all prove that where there is life, there is hope.
Critics have accused punk of being sloppy, undisciplined noise. They’re wrong. Punk is visceral and primal, sure, but it’s also real. Punk and The Ramones are the auditory personification of the Id; there are some of us who will always prefer authenticity to commercial studio representations of humanity.
Bourke Accounting bookkeepers and tax preparers are the punk rockers of accounting. Bourke Accounting pros know what they’re doing, but they won’t pretty up their findings for anyone. If you want an expert to tell you the truth and give you real options to save your back account, come see a Bourke Accounting representative today. Gabba gabba hey.
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.
A new job is stressful. We’ve heard for years that stress levels associated with starting a new job rate up there with buying a house and getting divorced. Not only do you have to learn the standard operating procedures of your new company, but you also have to make nice with people you might not ordinarily associate with. Just the other day, Bourke Accounting welcomed New Bookkeeper Chida into our warm embrace and we are all on our very best behavior. Thinking about New Chida and his current journey has led me to contemplate the ways we sort of sabotage ourselves when first joining a team.
I have only had a handful of serious jobs in my life, but here are some things I’ve noticed to make the transition into a different work environment a little easier:
1. Watch what you say. You’ve just met your co-workers and they are not your friends yet. If you’ve gone through a visceral divorce and someone asks your martial status, give a chagrined shrug, say, “I’m divorced,” and leave it at that. Don’t describe how you caught your ex with the nanny doing things that are illegal in 23 states. No one needs to know every single bad thing that’s happened, phobia or obsession you might have experienced, either. Once you develop an actual relationship with these people, you can expose your inner demons; if you do it before a friendship exists, you’re simply going to scare people. Also – as a libertine, I hate to say this – filter your opinions. We are living in sensitive times, so avoid repeating dirty jokes and deeply felt beliefs regarding politics, sex or religion. It is not going to kill you not to send your new Production Manager a link to “Blue Waf…” never mind. Just watch what you say (and send).
2. Your new boss is not your shrink (this one ties into the above and it’s important). At your last job, you might have had an amazing relationship with your boss. You might have spent the first 15 minutes of every day complaining about your significant other, that stubborn rash or money problems. Your new boss is not that person. If you have a chaotic life, keep it very far from your employer. If you need to take a day off because your kid is up on felony charges for the third time this year, do NOT tell your boss about it. A simple, “I have to handle a personal issue,” will usually suffice to explain your absence. Again, once you develop a real relationship with your boss, stark honesty is fine. Until that happens, let’s all pretend that we’re upstanding, well-balanced civilians with quiet lives.
3. Don’t get involved in office politics. Sometimes when you come onboard, you are obliviously walking onto a battlefield of deeply held animosities and long-established opposing camps. Don’t believe anything you hear about your co-workers. If you hear Chad is the office Lothario who breaks hearts for fun, reserve your judgement until you actually know Chad (or get your heart broken). Keep in mind that you’re showing up on the set mid-season and you don’t know the characters or the history. In addition, humans are social animals and we recruit for our side – so stay out of if until you know what (if any) side you want to be on.
The virus has displaced a lot of American workers. Good workers are being laid off after years of dedicated service and are desperately trying to land on their feet. If you are in this sadly leaking boat, please know that Bourke Accounting is rooting for you and wishing you the best of luck.
Being unemployed is scary. Although your Bourke Accounting expert can’t get you your old job back, they can offer advice regarding transferring your 401(k). In addition, if you’ve just landed your new dream job, your Bourke Accounting pro can help you make sense of the re-vamped and utterly confusing W-4.
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.
For a lot of Americans, that clanging early morning alarm is more threatening than a man in a white van asking for help finding his puppy. Wiping jagged bits of sleep from your eyes, you bribe yourself to get going with the promise that there is light at the end of the tunnel; someday, someday, there will be no more work – just retirement, Social Security payments and maybe even a watercolor class at the Learning Annex. You drag yourself from civilized dreams to start another day in the world.
Ah, yes, retirement. At 66, you’ll be repaid for your hard work and all of that money you’ve put into the system for decades. Sure, Social Security benefits aren’t that much, $1,503 was the average in January, but you’re a simple person, with simple needs. It’ll be enough. You sip your coffee, look out of the kitchen window and envision the day when you’re no longer a cog in the wheel.
These are nice thoughts to get us through stressful days. Sadly, a very modest repayment for our tenure as wage slaves might be asking too much in the future. The Social Security Board of Trustees publishes a report each year that assesses how the program’s doing. For the last 35 years, the Trustees haven’t been very optimistic regarding how long the money is going to last. The 2020 report has warned that, by 2035, we’ll have blown through Social Security “cash reserves and will be able to pay out only what it takes in year-to-year in Social Security taxes.” If that happens, the newly retired and disabled will only get about 79 percent of benefits (AARP.org). Of course, with Corona and all, some analysts are suggesting that Social Security could be history by 2028 (CNBC.com)…
But, never fear! That guy (who cut Jackie O’s trees down) over at the White House has a plan! In a stroke of pure genius, that guy proposes “$26 billion in cuts to Social Security between 2020 and 2029” (Fool.com)! Doesn’t that sound wonderful? I mean, it just makes sense to further decimate an already ailing social program. That guy’s crew also thinks that raising the retirement age to 70 is a pretty nifty idea (Fool.com). Since we’re living longer, just think about all that time you’ll have to enjoy your retirement (the current life expectancy for an American is 78.93 years)! A problem inherent with raising the retirement age is that, as Americans, we’re a pretty unhealthy lot. At 69 years old, and a lifetime of McDonald’s, not all of us are going to be able to load sixteen tons of number 9 coal.
However, there are some other ideas out there. Former Vice President Joe Biden has been looking into “means-testing” as one way to make sure Social Security keeps rolling. Means-testing would look at the annual income of Social Security recipients and decide if they really need the money; based on income, people would either receive a reduced check or none at all (Fool.com). Although these people would have paid into the system just like you and me, they’d get nothing in return. Obviously, wealthy citizens shouldn’t be penalized for making good life choices, but would they really notice if that couple of grand wasn’t in their account? Also, no matter how people want to fight it, America has always been a little socialist – we take care of the vulnerable. Hey, childless me doesn’t complain about a school tax, the rich shouldn’t complain about helping Grandma Ida.
We need Social Security. We need to ensure that our elderly and disabled aren’t eating cat food out of desperation. You can’t take it with you and no one here gets out alive, so let’s make the journey as pleasant as possible.
Bourke Accounting bookkeepers and tax preparers aren’t financial planners, but considering how much they know, they could be. Why don’t you sit down with a Bourke Accounting rep and allow them to offer ideas for a painless retirement? Since Social Security is shaky, you could benefit from some good advice from our knowledgeable Bourke Accounting staff.
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.
Whether I leave late or show up on weekends, I feel safe going to work at Bourke Accounting. There’s a guy across the street selling hot dogs, women power walk around the building during breaks (their arms wildly, maniacally swinging) and parents jog with aerodynamic baby carriages. There’s a civilized air about the area that – if I wasn’t a paranoid New Yorker – lends itself to leaving car doors unlocked. Judging by the calm, workaday neighborhood of Bourke Accounting, you would consider Louisville a very safe town. And you would be right. And wrong.
Recently, Louisville has experienced an increase in gun violence; as of August 5, there have been 407 shootings compared to 208 at this time last year (WLKY.com). The most horrifying aspect of this is that many of the victims have been kids or innocent bystanders. According to Norton Healthcare, 16 children have been admitted between March and July of this year with injuries attributable to stray bullets, a 78 percent increase from last year (Wave3.com). Just a couple of more kids who will never get to fall in love, never get to be cool.
City officials point to gang warfare as the driving force behind these murders. Metro Council President David James suggests that half of the shootings are gang related, with many of the issues originating from social media. James says that, when these virtual wars spill over into real life, they are subsequently followed by retaliatory killings (WDRB.com). And so on and so on.
As if children being shot wasn’t bad enough, the perpetrators of these crimes are often little more than children themselves – nationwide, the typical age range of gang members is between 12 and 24 (Nonprofitrisk.org). As a child’s brain isn’t fully developed until the age of 25 (URMC.Rochester.edu), it is heartbreaking that these kids are throwing their lives away before they can totally control themselves or understand the repercussions of their actions. So, why are these kids getting involved in, very adult, gang games?
Blame movies like Scarface (the awful Pacino version, not the original), but kids think they’re going to make a lot of money by joining a gang. Let’s see…as an “average gang leader,” one can expect to make about $58,750 per year (Comparably.com). While you do have to worry about the Feds and violent coups, at least you don’t need a Bachelor’s degree. Of course, a subway operator makes $62,730 a year without college, too. And how much will you make as an entry level gang member? According to a paper by Steve D. Levitt and Sudhir Alladi Venkatesh, that number is between $6 and $11 per hour. Super glamourous.
If it’s not the money, it must be the loyalty of a family you’ve chosen yourself, right? Let’s just remember rapper and tough guy Tekashi 6ix9ine. When he was indicted for aiding in an attempted murder, etc., he promptly “snitched” on members of his gang and walked (Insider.com). That is some kind of loyalty. Keep in mind that Martha Stewart did her time without involving anyone. A woman known for making Pom-Pom Animals is clearly the real gangster.
As with most things, education is the answer. When we offer critical thinking and marketable skills, we offer a way out. If we teach the children to believe in a better future and to believe in their abilities, they are hardly going to be impressed with their pal’s duct-taped .22 and four-page arrest record.
Bourke Accounting might not be able to cure all of the world’s social problems, but we can definitely cure your financial ailments. If you’ve made a mistake concerning prior tax returns, a Bourke Accounting tax preparer can furnish you with the education to avoid such issues in the future. Bourke Accounting knows that we’re all in this together and we have a obligation to help each whenever we can.
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.
It’s not that I’m rebelling. It’s that I’m just trying to find another way. – Edie Sedgwick
I’ve mentioned before that Bourke Accounting encourages employees to make our workspaces our own. I’ve also said that my favorite decoration is the Edie Sedgwick print over my desk. For most people, Edie’s beauty was her only memorable attribute; contrary to popular belief, however, beauty is neither a personality trait nor is it a talent. While Edie was no doubt beautiful, she was a tragic iconoclast whose influence can still be seen today.
Edie Sedgwick came from old money and old madness. Hers was a prominent family tracing back to early America; one ancestor, William Ellery, even signed the Declaration of Independence (Factinate.com). In addition, two of her brothers committed suicide, her mother suffered with a “nervous condition” and her father was a sociopathic philanderer. Perhaps as a preview to all of the men who would later exploit Edie, she alleged that her father had tried to “seduce” her at the age of seven (an accusation he never vehemently denied). Not surprisingly, Edie was the frequent guest of mental institutions in order to combat depression and eating disorders.
At 21, Edie’s grandmother gifted her with a trust equal to $648,343 in today’s money and Edie landed in New York City (Factinate.com). Upon her arrival, Edie began modeling, appearing in Time, Vanity Fair and Vogue (where she was named “It Girl” of 1965). Holding court with the wealthy, artists and designers, Edie is considered the first celebrity to have been “famous for being famous” (Salutsimone.com). It was at Tennessee Williams’ birthday party that Edie was introduced to Andy Warhol.
Andy Warhol was an “artist” best known for bringing visual art to the masses through his depictions of Campbell’s Soup cans. He was also a shameless self-promoter with a talent for finding damaged people and exploiting them. After appearing in one of his subpar movies, Andy would convince unhinged people that they were “superstars,” debase them and then discard them. Andy even had a body count: Jackie Curtis (OD), Andrea Feldman (suicide), Nico (OD), among many others. Side note: when he tried his cute game with Valerie Solanas, she retaliated by shooting him. This incident is further proof that we should be nice to each other.
Edie and Andy spent the next year together, with Edie appearing in many of his (pitiful excuses for) films. Edie showcased a vulnerability and comedic timing that, despite these nonsensical movies, showed that, with a better mentor, she may have been able to become a serious artist. As it was, Edie was thrown out of Warhol World when she expressed an interest in pursuing legitimate acting with manager Albert Grossman (he was also Bob Dylan’s manager. Dylan and Edie were having an affair, but he broke her heart).
Eventually and in distress, Edie returned to her parents’ estate. There, she was exploited for the last time by director David Weisman and his film Ciao! Manhattan. A very strung out Edie slurred though this superiorly stupid film, based not-so-loosely on her life, lost her mind and went to rehab. There, she met a man who actually cared for her. Edie married Michael Post and four months later, at the age of 28, she was dead from a barbiturate overdose. Suicide or accident, it was a sad waste.
Edie Sedgwick was the girl who had everything but a reason to live. Her contributions to fashion and style are still evident every year at Fashion Week. Edie really was the “Poor Little Rich Girl” who could have improved the world if only she had a little more time and a few more good people.
Come to Bourke Accounting and visit my Edie print. While Bourke Accounting experts can’t regale you with Sedgwick anecdotes, they can ensure that you’re always in compliance. If you’re looking for a mentor who will hold your best interests above all things, a Bourke Accounting pro is your only option.
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.
Bourke Accounting’s Bookkeeper Christina was giving me assignments the other day. After glancing at the clock, which read “11:11,” I knocked wood three times, made a wish and thanked the universe. As my Bourke Accounting co-workers know that I’m superstitious, Christina simply ignored my ritual and carried on.
I never fold sheets indoors. I have never “played” with a Ouija board and I have certainly never repeated “Bloody Mary” in a darkened room. Do I truly believe that Mary is going to reach out and touch me? No, not truly, but why risk it? While I don’t know if I believe in ghosts, I do believe in dignity and respect.
As any newcomer to Kentucky can attest, one of the first things locals like to share is the history of Waverly Hills Sanatorium. According to friends and hokey ghost hunting shows, the former tuberculous hospital is one of the most haunted places on earth. Adding to the already sad history, after being a TB hospital, the space was reincarnated as the Woodhaven Geriatric Center, a nursing home that was closed amid allegations of patient abuse (En.Wikipedia.org). It’s no wonder that with such a storied past, visitors swear that they’ve played ball with a little ghost kid and have seen the specter of a nurse who committed suicide. One friend told me that, after investigating “The Death Tunnel” (an underground walkway employees used to transport supplies and deceased patients), his apartment became so haunted that he was forced to move.
Call it self-preservation or superstition, but humans naturally fear locations where people have died. Whether you believe in an afterlife or not, there is something sobering about standing in the spot where others have breathed their last (of course, it doesn’t hurt that we also enjoy gruesome narratives). However, one of the saddest stories of Waverly is the way it is currently being used.
When Charlie and Tina Mattingly bought the Waverly, they had a notion to turn the space into a hotel and convention center. However, unable to get a loan, the Mattinglys came up with the idea of raising money by opening the space to the public (WDRB.com). For example, for $25, Waverly offers a two-hour paranormal guided tour (TheWaverlyHills.com). But wait, there’s more! For $1,000, visitors can roam freely and even spend the night (Eventbrite.com). And let’s not forget the annual Halloween haunted house! For a nominal fee, peanut-munching, mouth breathers can stomp unceremoniously through a space that should be shown reverence. After demonstrating nothing but disdain for lost lives, don’t forget to stop at the gift shop for a tee-shirt.
It’s not charming when a place of immeasurable heartbreak is used for nothing more than cheap entertainment. What’s next? A Lizzie Borden Bed and Breakfast…oh, never mind, that already exists (and, for $250, you can sleep where a woman was murdered). I’m not suggesting that we should wander in perpetual mourning, but tragic locations shouldn’t be treated as low-rent freak shows, either. We ought to honor our lost with dignity, not insult their memories with fake blood and spectacle.
Showing respect is free; perpetrating the disregard of our fellows actually costs money. The next time you’re touring a “haunted” location, spare a thought for our fallen brothers and sisters. They’re not just fictional characters designed to give us a thrill, they were people.
The Bourke Accounting office is not haunted. Bourke Accounting bookkeepers and tax preparers are so level-headed and focused that it wouldn’t matter if it were. Regardless of what is going on, when you sit down with Bourke Accounting pros, the only thing they care about is giving you the best service in Louisville.
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.
Sarah: That’s not fair!
Jareth, The Goblin King: You say that so often. I wonder what your basis for comparison is.
Labyrinth, 1986
At Bourke Accounting, Bill has a sort of hands-off, trial by fire, mentoring approach. Consistent with this philosophy, he handed me a book chock full of the new tax changes birthed by the Tax Cut and Jobs Act of 2017. While Bill is, no doubt, charmed by my blogging abilities, I believe he is serious in his request that I learn a thing or two about taxation in general. More importantly, I have a suspicion that there will be questions later. So, I am reading The Book and taking notes.
Having worked for accountants in the past, one of my jobs was chasing down people with home offices and employee expenses. I was that chirping nuisance asking for square footage used, percentage of utilities, meals and entertainment, etc. So, imagine my surprise when The Book told me that W-2 employees are no longer able to deduct unreimbursed work-related expenses, including home office expenses, on their returns.
Before the TCJA, besides home office deductions, if employees had expenses in excess of 2% of their adjusted gross income, well, they could just write those right off (Barrons.com). It’s been argued that, since the TCJA increased standard deductions, most people wouldn’t be affected by this change, so it was nothing more than an academic argument anyway. Uh, yeah, sure, that might have been true – at least, before the virus made the scene.
Even with the relaxation of lockdown rules, there are still a lot of people working from home now. Whether commandeering playrooms or kitchen tables, out-of-pocket expenses have been incurred; after all, Special Princess Palace Kingdoms don’t just magically transform into 9-5 professional workspaces. Many employees have had to upgrade internet service, buy chairs that won’t destroy their backs and incidentals like printer ink. Would all these expenses top their standard deduction? Maybe, maybe not, but these employees are still using their own money to outfit a workable, satellite office. The standard deduction is great for a future tax return, but what about right now?
One option for these homebound employees is an accountable plan. With this sort of an agreement, employees can bill employers for their expenses. The employers can then deduct for expenses they pay back to the employees (Investopedia.com). However, there are no federal rules saying a company has to do this, unless these expenses push a “worker’s income to below the minimum wage” (Barrons.com). Another option would be for Congress to allow W-2 employees to specially deduct employee expenses for a limited time, separately and in addition to the standard deduction. It could happen…
The world is more unfair than usual these days and it’s up to the powers that be to do what they can to level the field a bit. Hey, Congress, let’s get creative and funky! As the workers are the economy, there should be incentives and rewards put into play.
With changes coming fast and heavy these days, it’s nice to know that your Bourke Accounting bookkeepers and tax preparers are keeping up. No matter what insane alterations are on the horizon, Bourke Accounting experts will have the answers to all of your questions. It’s probably a sick obsession, but – lucky you – Bourke Accounting specialists live for this stuff.
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.
Driving home from Bourke Accounting, I was stuck behind a bus at a red light. Attorney T.J. Smith looked down on me from the back of the bus, his face determined, but friendly: he wore a tie, so you know he’s a pro. He wasn’t wearing a suit jacket, which means he’s down to earth. He had his shirtsleeves rolled up, so he’s ready to get to work for you. His tag line read, “T.J. Will Make ‘Em Pay,” so you know he’s…vindictive? T.J. Smith rounded the corner to reassuringly stare at someone else.
Not two minutes later, a self-satisfied Attorney Darryl Isaacs inquired, from a billboard, if I have been injured in an accident. If so, I have to call “The Hammer.” Like a threat from an inept Bob the Builder, ol’ Darryl was even awkwardly holding a hammer. This, in turn, reminded me of the Kaufman & Stigger commercial where Attorney Carla Wells Stigger turns into a poorly animated tiger to intimidate an insurance company bad guy.
While the sad production quality is amusing in personal injury advertisements, the inherent aggression contained within is confusing. Can you imagine if the same belligerent nicknames and rhetoric were used in ads for proctologists (if this were the case, I bet ad execs would suggest something along the lines of “The Shovel Will Get it Done”)? I understand that scared and hurt people want a lawyer who is tenacious enough to fight for a fair settlement, but things are getting a little out of control.
Almost every attorney commercial promises that their firm is the toughest on the block; they never quit, they fight for your rights, they’ll get you the money you deserve, yadda, yadda. When law firms aren’t portraying themselves as the Chuck Norris of litigation, they use scare tactics to imply that insurance companies are villains who want to keep us from our rightful money (while they’re laughing at us and smoking big cigars).
Besides the scare tactics and pugnacious guarantees, I think the worst are the actual client testimonials. These come in two flavors: the wired blonde woman and the average Joe who looks like he hasn’t bathed in a week. The wired blonde’s eyes dart wildly as she tells of the hundreds of thousands she won after being hit by a tractor. The unbathed Joe doesn’t seem to know where he is, pauses to stare blankly at the camera and eventually mumbles that he won big. And these were your most palatable clients?
These commercials are undignified. I have nothing but respect for lawyers and the education, time and hard work it takes to become one. However, these ads are akin to Aphrodite dancing at the Bada Bing – purely bad form. Former State Bar President Harvey I. Saferstein was also disgusted when he warned that “too many of the ads give the justice system a wrong image and a bad image” (LATimes.com). He further cautioned that if something wasn’t done to curtail these ludicrous promotions, the public would eventually totally distrust the legal profession (LATimes.com). He’s got a point: if someone introduces her/himself as a personal injury lawyer, a lot of us automatically think, “Ambulance Chaser.”
Everyone’s gotta make a buck. I simply think that a serious and highly regarded occupation should show more decorum across the board regarding advertisement. If you’re a good enough lawyer, you don’t need a penitentiary moniker and bad computer graphics.
Bourke Accounting doesn’t run commercials during The Jerry Springer Show. In fact, Bourke Accounting doesn’t run commercials at all. Our Bourke Accounting bookkeepers and tax preparers know that one happy client is worth 70 catchy jingles. Meet with a Bourke Accounting pro today and see why, even without nicknames and props, our experts are the best in Louisville.
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.
The unofficial motto at Bourke Accounting is “Pay Attention.” While this is true for most companies, it’s really important here, as we’re dealing with your money. If there’s one slip of the keyboard and you receive a letter from the IRS, Bill becomes angry – and just like certain big green superheroes, no one likes Bill very much when he’s angry. So, we pay attention and we double and triple check to make sure that everything is 5 by 5.
Unfortunately, while I’m conscientious at work, it doesn’t carry over to my civilian life. Since I am nothing if not a helpful little monkey, here are a few things that I’ve learned deserve attention:
1) Your pay stub and W-4 allowances. Before Bourke, I worked somewhere else. I filled out my W-4 and, when I filed my tax return the first year, I received my refund. However, by the next year, I ended up owing the IRS a few hundred bucks. It seems that someone had changed my marital status without my permission, which is illegal (unless, that is, the employer receives an official IRS “lock-in letter” requesting a change in allowances). Our corporate HR department skeptically asked if I was sure that I hadn’t gotten married (if I did, it was an unmemorable wedding night), but ultimately denied making the change. While I could have made a stink and written to the IRS, I realized that it was my own fault. Since I received direct deposit and never looked at my pay stub online, I didn’t notice that I was getting a little extra money on my check each week. I learned the hard way that stupid, unexplainable things happen and no one has a lot of sympathy for obliviousness. Don’t be me: check your pay stubs and W-4 regularly.
2) Your bank account and credit report. When my friend tried to pay for his bagel and smokes, he was surprised when his card was declined. He stopped at his bank and, yup, his balance was confirmed at 0 dollars. The representative printed out his statement and questioned why he hadn’t contested the two charges of $1 from the day before. He had no idea what she was talking about, as he never bothered looking at his online bank statement. Scammers never fail to amaze me, they really don’t. A scammer, once they have your information, will “’ping’ the account first, to make sure it’s valid, before making a major purchase with it” (Consumeraffairs.com). While the bank eventually gave him his money back, my friend suffered through 10 lean days and checks his statement daily now.
Regarding credit reports, in my ill-spent youth, it didn’t occur to me to check mine. However, after being denied my first apartment due to credit issues, I looked and found an open credit card balance of $20,000. The credit card had been opened when I was 10 years old and was, obviously, not mine. I had to send copies of my birth certificate, along with a slew of forms in triplicate, to the credit card company and it still took a year for the charge to get off my report. Now, I check my report regularly with a site online (there are many that are free now and don’t affect credit scores) and so far, so good, knock wood, I haven’t had an issue since.
Have you noticed that the world doesn’t gently hold your hand while guiding you away from trouble? I have. Human and computer glitches happen, scammers happen. However, if we’re not vigilant, an inconvenience has the potential of turning into something worse. Pay attention, friends and neighbors.
Bourke Accounting experts pay attention, and not just to avoid the Wrath of Bill; Bourke Accounting bookkeepers and tax preparers want to make your life easier. Bourke Accounting pros want you to trust that you are receiving quality and accurate work every single time you walk through the door. Bourke Accounting pays attention so you don’t have to (but, yeah, you should really keep an eye on what’s going on, too).
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.
Randomly, someone will ask for my Facebook username. When I respond that I’m not on Facebook, I am met with a look that suggests that I might be a visitor from another dimension. Likewise, people find it odd that I work for Bourke Accounting and distrust the stock market. To me, there is no difference between high stakes Vegas roulette and stock trading. Even if you know a company and have tracked its progress for years, it’s still a gamble; all it takes is a CEO’s indictment or a natural disaster and the stock is worthless.
Much like my distaste for Facebook (and the broken relationships and altercations caused by the platform), I realize that my avoidance of the stock market isn’t completely logical. Generally, if you know what you’re doing, have a good financial professional in your corner and don’t do anything too risky, it’s possible to create an impressive portfolio. However, that important detail of understanding what stock trading entails is ignored by some new investors.
Studies have discovered that Millennials have gotten involved in the market in a big way, with nearly seven in ten currently invested in something (NYPost.com). While it’s great that this generation is planning ahead, it doesn’t always end with young investors sailing off into the sunset on a brand-new yacht.
On June 12th, the parents of 20-year old Alexander Kearns found a post-it note inviting them to turn on his computer. On the computer, they found a suicide note. Kearns had been using Robinhood, a trading app, and, when he saw a negative cash balance of $730,165 (CNBC.com), he did something very rash. In his note, Kearns questioned why Robinhood would allow a kid with no income to become so heavily in debt. Kearns also admitted that he had no idea what he was doing (Businessinsider.com). To make a tragic story worse, Kearns didn’t understand what he was looking at. While Robinhood can’t give the details of Kearns’ account, he didn’t owe almost a million dollars; his balance was “due to complex options trades,” which would have settled over the following days, but left a temporary balance in the meantime (Businessinsider.com).
Kearns’ family has vilified Robinhood for not offering an explanation or customer service options when Kearns received the negative balance notification (Businessinsider.com). In addition, Robinhood has been accused of making an app that resembles a video game as opposed to a stock trading tool with real-life repercussions. For example, every time a trade is completed, users get a little party, complete with confetti shooting all over (Kiplinger.com). Regarding customer service, users say that they’ve waited weeks for an answer in the Help section, it’s nearly impossible to get a person on the phone and emails go unanswered (Businessinsider.com). While a seasoned trader could probably get by with this level of customer service, rookies like Kearns are left to flounder in the dark.
People shouldn’t expect to get rich overnight with the stock market. People should also know the very real risks associated with trading. Finally, new traders shouldn’t try to learn by trial and error – it never hurts to contact a professional with any problems. Perhaps the most disturbing factor of Alexander Kearns’ story is that, had he just asked questions, he wouldn’t be a cautionary tale now.
Bourke Accounting experts are no strangers to the stock exchange. While Bourke Accounting pros aren’t stockbrokers, they can explain the terms and implications to those just starting to invest. In addition, your Bourke Accounting tax preparer can help you to choose the right investment product for your unique situation. And, no matter what, remember that you’re a lot more important than the numeric value on your bank statement.
Come see us any time. Our number is 502-451-8773 and don’t forget to visit our website at www.bourkeaccounting.com. See you soon!
Written by Sue H.