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I’m Afraid My Opinion Won’t Be Popular
Monica Lawver over at Confessions of a CPA has a great post; It’s Supposed to be Hard. In her post, she talks about how she defines success and touches on how she is balancing work and home – Monica’s answer “barely.”
Barely is an honest answer, I feel you sister CPA!
Every time someone reaches out with that question, I want to get in her face and say – if you want to have children treat it like a full time DAY job, not the second job that you try and tackle after you get home at night. If you are pulling off children first and then job somewhere down the line, then you have it in the right order.
Boy oh boy do I have a strong opinion about this subject – and probably a more unpopular one. Why? Because I am not going to be one of those people who offer answers about how I did it or how you can too. No Sir.
You want to know why people are always asking the question – how do you balance your work and home life? Because it’s hard. For many people it is impossible. And if you are feeling that things aren’t working out, there’s a whole industry of people who will tell you that following a few rules, taking some advice, and scheduling your life, will result in “work life balance.” They will sell you books, give lectures, and show up on TV talk shows all in the hopes of convincing you that they have the answer.
Oh ya – well, I say – bologna (bull -o-nee).
I have no problem with giving someone asking the honest answer – which is – It’s really really hard and it takes a special person to pull it off, and even then – it is still a crap shoot, so better think twice before you try to combine marriage, motherhood and career.
As a mother of five, combined his and hers, and a former single mother for 10 years, I can attest to the difficulty in balancing work versus motherhood. Motherhood really is a full time job, and let’s face it; few people can successfully pull off two full time jobs. Even a two parent working family requires that the parents have a second job called “raising the children.” And we know that at least one of these parents will usually take up more of the parenting slack.
Do I sound jaded? Well, you should know that I pulled it off – the road was bumpy yes. And my husband and I each had our own “troubled” child. But today the children are fine, graduated from high school, attending college, getting married, living normal lives. And nope, no drug problems or jail time – fingers crossed – so far so good.
But there were also times when I just didn’t think we were going to make it, particularly with the time requirements of being a CPA. I also saw friends and colleagues struggling to meet this contrived definition of career and motherhood. They believed it was achievable. Why wouldn’t’ they? All we ever heard was how other successful career minded women were making it work. Nobody wanted to be the one that admitted – I don’t think this is the way to go.
What do I think?
Well, I would never ever choose to be a single mother. So obviously, I wouldn’t have children when I wasn’t married, and staying married would be a priority. (Not that staying married wasn’t a priority before, but that is another story). And another thing – I think that children deserve to have at least one full time parent. Someone who is there when they need them. I would treat motherhood as my one and only full time job. And if I did want to work while the children were in school, I wouldn’t be a CPA. In fact, my job might consist of stuffing envelopes or answering phones, something I could leave behind at the end of the workday.
I know there are many women out there who believe they can and maybe are successfully balancing work and motherhood, and good for them.
However, no matter how hard you work at it, and I don’t care who you are or what you do, if you have a “career,” there will be times when there will be suffering, by either you, your spouse, your job, or your children. It’s just a matter of waking up in the morning and deciding whom it is that will suffer that day.
Don’t think so? Well I know this, if you are a tax professional working to meet deadlines, I know the exact dates when you will be waking up and deciding who will be the sufferer. Because here is a news flash, a child’s needs never fall neatly in line with the tax calendar. For that matter nobody’s does. And if you think your clients, your employer, or the IRS really care that your child has a cold, well then… whom will you choose to be the sufferer today?
Last Day To Purchase a Home and Qualify for The First Time Homebuyers Credit is November 30, 2009
First-Time Homebuyer Credit Provides Tax Benefits to 1.4 Million Families to Date, More Claims Expected.
WASHINGTON — With the deadline quickly approaching, the Internal Revenue Service today reminded potential homebuyers they must complete their first-time home purchases before Dec. 1 to qualify for the special first-time homebuyer credit. The American Recovery and Reinvestment Act extended the tax credit, which has provided a tax benefit to more than 1.4 million taxpayers so far
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The credit of up to $8,000 is generally available to homebuyers with qualifying income levels who have never owned a home or have not owned one in the past three years. The IRS has a new YouTube video and other resources that explain the credit in detail.
The IRS encouraged all eligible homebuyers to take advantage of the first-time homebuyer credit but at the same time cautioned taxpayers to avoid schemes that help ineligible people file false claims for the credit. Currently, the agency is investigating a number of cases of potential fraud and is using computer screening tools to identify questionable claims for the credit.
Because the credit is only in effect for a limited time, those considering buying a home must act soon to qualify for the credit. Under the Recovery Act, an eligible home purchase must be completed before Dec. 1, 2009. This means that the last day to close on a home is Nov. 30.
The credit cannot be claimed until after the purchase is completed. For purchases made this year before Dec. 1, taxpayers have the option of claiming the credit on their 2008 returns or waiting until next year and claiming it on their 2009 returns.
For those considering a home purchase this fall, here are some other details about the first-time homebuyer credit:
The credit is 10 percent of the purchase price of the home, with a maximum available credit of $8,000 for either a single taxpayer or a married couple filing jointly. The limit is $4,000 for a married person filing a separate return. In most cases, the full credit will be available for homes costing $80,000 or more.
The credit reduces the taxpayer’s tax bill or increases his or her refund, dollar for dollar. Unlike most tax credits, the first-time homebuyer credit is fully refundable. This means that the credit will be paid to eligible taxpayers, even if they owe no tax or the credit is more than the tax owed.
Only the purchase of a main home located in the United States qualifies. Vacation homes and rental properties are not eligible.
A home constructed by the taxpayer only qualifies for the credit if the taxpayer occupies it before Dec. 1, 2009.
The credit is reduced or eliminated for higher-income taxpayers. The credit is phased out based on the taxpayer’s modified adjusted gross income (MAGI). MAGI is adjusted gross income plus various amounts excluded from income—for example, certain foreign income. For a married couple filing a joint return, the phase-out range is $150,000 to $170,000. For other taxpayers, the range is $75,000 to $95,000. This means the full credit is available for married couples filing a joint return whose MAGI is $150,000 or less and for other taxpayers whose MAGI is $75,000 or less.
The credit must be repaid if, within three years of purchase, the home ceases to be the taxpayer’s main home. For example, a taxpayer who claims the credit based on a qualifying purchase on Sept. 1, 2009, must repay the full credit if he or she sells the home or converts it to business or rental use at any time before Sept. 1, 2012.
Taxpayers cannot take the credit even if they buy a main home before Dec. 1 if:
The taxpayer’s income is too large. This means joint filers with MAGI of $170,000 and above and other taxpayers with MAGI of $95,000 and above.
The taxpayer buys a home from a close relative. This includes a home purchased from the taxpayer’s spouse, parent, grandparent, child or grandchild.
The taxpayer owned another main home at any time during the three years prior to the date of purchase. For a married couple filing a joint return, this requirement applies to both spouses.
For example, if the taxpayer bought a home on Sept. 1, 2009, the taxpayer cannot take the credit for that home if he or she owned, or had an ownership interest in, another main home at any time from Sept. 2, 2006, through Sept. 1, 2009.
The taxpayer is a nonresident alien.
For details on claiming the credit, see Form 5405, First-Time Homebuyer Credit.
Stacie's Tax Stuff 