Tax Season

April is the month for tax season. We always plan to file our income tax early in February. As usual, our accountant always asked “Have you purchase a new home yet?” Obviously, our answer is still the same – no. For years, we have been told to buy a new home in order to avoid paying big tax to the government. However, we are not ready to move at this time. We are comfortable with our current home location where Zia Yee is able to walk to high school in 5 minutes. Also, we are not ready to buy a new home where we need to pay high mortgage and high property tax due to the housing market in Los Angeles. Today, the Federal IRS and California State Government had withdrawn $7K from our account. Besides that, we are obligated to pay $2K property tax (six months) this week. It is important to have the funds available at this time so that we don’t get into trouble with the government. posted by mom