There are all sorts of ways people prepare for the looming tax filing deadline, and Phoenixville accountant Julia Brufke Wenger has dealt with most of them.
She and her team file 1,100 tax returns each year, and among them are the avoiders, the procrastinators, and the shoeboxers, according to a report in The Wall Street Journal by Sue Shellenbarger.
Some push for illegitimate deductions, while others are reluctant to take ones they’re eligible for.
“The most stressed-out people are the self-employed, because they don’t have tax withholding, and at the end of the year comes their day of reckoning,” Wenger said.
And it’s not just differences in employment or personality. Wenger noted that there are also emerging generational trends.
“There’s such a big difference culturally from one generation to the next,” she said. “Today’s parents of young adults often have pensions, and they’re usually homeowners. The kids don’t have retirement plans with guaranteed benefits, and they’re renters. I don’t think the parents warn these children about the importance of saving, and that worries me.”
Read more about Wenger’s tax-filing tips in The Wall Street Journal here.