From the category archives:

just for fun

kate_1stdayk

My oldest daughter, Katie, came home from school in a mood one day last year. When I asked her what was wrong, she sighed and said, “Chelsea runs faster than me.” And she sighed again.

I thought for a moment and said, “Katie, not everyone can be good at everything. I’ll bet you there is something that you’re really good at.”

Without hesitating, she said, “I can draw.”

(Biased parent’s opinion: she is really, really good at art.)

I agreed and said, “Yes, you can. And you practice drawing a lot. Maybe you could ask Chelsea to show you how she runs really fast and you could practice running.”

She brightened, nodded and said, “I will.” And then she said, with maybe a bigger smile than necessary, “And Chelsea draws like Amy (her then 2 year old sister).”

Ahh, the refreshing honesty of a 5 year old…

Katie was satisfied, I was relieved. As a parent, you’re constantly wading through the tough questions, trying to sort out how much information is too much, how to simplify what are really tricky issues so that they make sense but aren’t too patronizing, and how to empathize with your children when these seemingly trivial details rule their lives in that one instant. It’s weird that we don’t apply more of the things that we learn in these moments to the bigger picture.

Katie’s worry that she wasn’t the best at something is a concern in the real world. We all want to be the best, don’t we? But we can’t all be - it’s mathematically impossible for everyone to be on top.

So do you just give up?

Of course not. Life and business are all about priorities. You focus on what’s important to you and you work hard. And - this is the part that it took me awhile as a cocky young lawyer to understand - you realize that you can always learn something from someone else, especially your competition.

When I first entered the legal profession, I was going to be the best tax attorney ever. I even had dreams of being on the Supreme Court - a statistically even more challenging feat when you realize that tax lawyers aren’t exactly the top picks on the Court. And then I realized how much I hated litigation. The whole process just annoyed the heck out of me. It wasn’t my thing.

What I did like to do was write and talk about tax law - and tax policy. Surely I could parlay that into something? So I did. I began writing more, ramping up taxgirl.com to become pretty successful, penning a monthly column for The Legal Intelligencer and (shh, it’s coming but still in beta) forging ahead on a new gig as the tax guru for an exciting new financial site run by the same folks responsible for The Wall Street Journal. All in all, these are pretty exciting times for me.

And as much as I hope that Katie learns from me, this is what I have learned from my daughter: when Katie believes that she is good at something, you know it. I love her ridiculous sense of confidence.

I wonder when we lose this as adults. And you know what I mean… When we stop singing out loud because we’re worried what people might think, when we stop dancing in public because we think we look silly, when we apologize to others before we cook or draw or take a picture. What if… what if we are actually better at these things than we think?

So when people ask me anymore what I do, I don’t shuffle and look down at my feet. I say, “I’m a tax attorney and I write this really cool blog at taxgirl.com.” I am proud of what I do. The self-confidence of a five year is really quite inspiring that way.

And those little tweaks at the competition? I think they’re okay, too, so long as you exercise a little tact. Katie never told Chelsea that she thought she was the better artist - there wasn’t a reason to. But it made her feel better. And hey, for all I know, Chelsea really did draw like Amy…

The idea for this post came from Shannon Cherry at Start Up Spark. Shannon challenged those of us in the Business Channel, in honor of this halfway point between Mother’s Day and Father’s Day, to think about what we’ve learned in our careers from kids. And now I’m curious… I’d love to hear your life lessons. What have your kids taught you?

(Image: me - yeah, sometimes I take a good photo, too)

{ 8 comments }

Happy Memorial Day

by Kelly on May 26, 2008 · 0 comments

in just for fun

I am off shortly to watch the local Memorial Day parade. I hope you take some time off today to enjoy friends and family - and remember what this day is about.

{ 0 comments }

The price of oil has increased, on average, $1/barrel over the past month. The result is that gas is likely to top $5/gallon at the pump this summer - compared to $2.80/gallon last year.

What does this mean in pure dollars? According to the Energy Information Administration (from Department of Energy), the average American uses 500 gallons of gasoline every year. That means that the average American pays $2000 every year for gas, which includes $368 in federal gas tax. You can factor in an additional 10% for premium.

Last year, US fuel consumption was about 142 billion gallons, an average about 390 million gallons per day and the equivalent of about 61% of all the energy used for transportation, 44% of all petroleum consumption, and 17% of total U.S. energy consumption.

Yowza.

So, I wonder how the increase in gasoline prices is affecting the average American… Are you driving less? Or the same?

I’ll confess that I hate to drive. I live in the city so that I can walk, take the train or the bus. But you can’t walk or ride everywhere, so occasionally, you do have to drive. We probably drive less than 50 miles per week most weeks - our office is about 1 mile from our house - and it costs us just under $50 fto fill our tank. However, to be fair, occasional car trips to North Carolina and Maine boost that average. We usually log about 13,000 miles per year.

Since it’s Friday, I thought I’d ask: How many miles do you drive on an average week? And how much does it cost to fill up your tank?

{ 21 comments }

Is it true that President Bush wants to call tax rebate checks “empowerment rebates”? Is it also true that President Bush wants to replace tax rebate checks with a pair of tickets to the Tony Robbins seminar, Unleash The Power Within?

No, of course not. But that doesn’t keep Mark Jabo at Biz Levity from speculating about it… Read this genuinely funny (and satirical) post about tax rebates.

{ 1 comment }

Made in the USA?

by Kelly on May 16, 2008 · 21 comments

in international, just for fun

It’s been suggested on this blog - and others - that the big “fix” to the economy would be to buy more American products.

I don’t know how much of an immediate impact it would have on the economy but doing it is actually harder than it sounds. So many products - even those that we think of as “American” - are manufactured somewhere else. We have outsourced nearly all of our manufacturing business.

So, today, on a rainy Friday here in Philadelphia (birthplace of America!), I’m conducting a social experiment. I’m going to post throughout the day what products I am using and/or consuming and try to figure out where those products are made or manufactured.

I’d love for you to play along. Throughout your day, if you see a “Made in…” label, please stop by and leave a note in the comments.

I am anxious to see how much of our purchases are American…

So this morning, I put on my glasses (made in Germany). I grabbed my cell phone (made in Korea). I put on my running shoes (made in China). None of my sweats were made in the USA - they were made in Haiti, Vietnam and Turkey.

After my run, I had coffee (Kenyan, fair trade) in a mug (made in China). I ate cereal (made in USA) in a bowl (made in China).

I am currently tapping away on an Apple computer - the tag says “Designed by Apple in California, Assembled in China.”

Not off to a terribly auspicious start.

What about you?

{ 21 comments }

On May 5, the idea of bargain shopping on eBay took a new twist. Item 100237099149 went up for sale for the sum of $75 but the item was actually quite priceless. You see, what appeared to be just another auction item was actually a CD containing the “income-tax returns for 2005 of the entire Italian people.”

That’s not a typo.

And it wasn’t a joke.

A few days earlier, Italian tax authorities had inexplicably put all 38.5 million Italian personal income tax records from 2005 online. The information was eventually deleted but before that happened, the data had already been re-posted to other sites and downloaded.

How could this happen? It may not have been an accident. Some in Italy believe that it was a purposeful act by Romano Prodi’s government, who had prior to losing the general election, been a vocal critic of tax evasion. Interestingly, the timing of the release of the tax records came just after Silvio Berlusconi took office though the release was approved in March.

Even more telling, the deputy finance minister, Vincenzo Visco, said the online publication promoted “transparency and democracy.” This may seem odd, but in Italy, personal income tax returns have been matters of public record and are on display in local town and city halls for a period of one year - unlike here in the US where we consider the information private. However, the Italian data-protection authority believes that making the information available on the internet is very different from making them available in paper form. An investigation is under way to determine whether the release online was a violation of existing law. Additionally, a consumer association is seeking compensation for taxpayers worth approximately $1000 per taxpayer.

What do you think? What would be appropriate compensation for making your tax information available online - taking into consideration that the information was already made public by law?

(Hat Tip: one of my husband’s favorite news magazines, The Economist, which I won’t admit to reading at the house (long story) but I do find it enjoyable…)

{ 2 comments }

How Much Is Your Mother Worth?

by Kelly on May 10, 2008 · 3 comments

in just for fun

girls_water2

I saw on CNN today that Salary.com had released its most recent numbers valuing the unpaid services of being a mother. This whole line of thought interests me a lot from a financial and tax policy perspective. I tried a few times to draft a post about this subject but kept coming back to the post that I wrote last year. So here it is, in its entirety (note that the numbers in the post are from 2007):

Years ago, in my Tax Policy class, we had a discussion about the value of intangible labor. The discussion was whether it was appropriate to quantify (and therefore, tax) the value of work brought into a home.

Sound “out there”? Not really. Salary.com basically does the same thing (minus the taxing part) every year as part of its efforts to determine the “worth” of a the work of a stay at home mom. This year, they’ve determined that the predicted annual salary of a stay at home mom, if paid out, would be $138,095. Working moms are valued at $85,939, in addition to the mother’s “professional” salary.

I have been highly critical of the report in the past, and am again. And it’s not because I don’t think being a mother is hard work - as the mother of three small children, I heartily agree that there are challenges that we face every day that would make grown men cry.

But the point of the article is to assign a dollar value per hour to each of the tasks that a mom does during the day. I assume that quantifying it by breaking the “duties” into discreet tasks is meant to add some sense of value to what it is that we do every day. But I think using terms like “CEO”, “computer operator” and “psychologist” both devalue and trivialize what it is that we mothers do.

When I get paid as an attorney, my worth is based on a number which takes into consideration my level of education, my level of experience and the hours that I work. My salary is not based on how many hours I do my own typing, answer my own phone or counsel my staff on issues. In fact, I don’t know of any job that is compensated based on individual job activities. Additionally, there are no adjustments for sick days, vacation days and other “perks” that employees receive but mothers do not. So, realistically, I think the study falls flat.

Salary.com also references being a stay at home mother as a “Dream Job”, another euphemism that I think cheapens the role of mother. “Dream Jobs” are usually those jobs which are viewed as cushy, those that pay a great deal or carry considerable clout or prestige. Being a mother doesn’t do that. There’s no “pay” and arguably, the amount of clout and prestige that we assign to motherhood as a job, is woeful.

Please don’t misunderstand what I am saying. I think that being a mother, whether a stay at home mother or a working mother, is an enormous job. I do believe that the contributions of mothers to society are routinely ignored and/or undervalued. But attempting to classify the job of being a mom into artful roles doesn’t change that - and I would argue that it makes it worse. Why can’t we just say that being a mom, in and of itself is important? Why do we feel the need to “boost our image” by comparing ourselves with CEOs? Why do we need to attach an hourly rate to our daily activities to give validation to what it is that we do?

[click to continue…]

{ 3 comments }

In 2008, the summer solstice will occur at 23:59 hours UT on 20th June (Friday). It is the first time since 1975 that it hasn’t occurred on 21st June. The summer solstice is, as you may know, the longest day of the western hemisphere.

To celebrate, taxgirl, the Business Channel and b5media are having The Great Blog Off on June 20. Here’s the scoop:

1, At taxgirl.com - and all over b5media - we will blog at least once per hour for each hour of the day beginning at midnight our time (I’m EST). Yep, that’s 24 hours straight blogging.
2, NO pre-posting allowed. So, everything that is posted will be fresh - or as fresh as can be whilst sleep deprived.
3, Guest bloggers ARE allowed and are, in fact, highly encouraged.

Yep, that last part means that I’m going to be looking for some guest bloggers. Ideally, you would agree to “cover” for me some time between 1 a.m. and 6 a.m. EST on June 20. But even if those times don’t work for you, I’d love to have you participate. Send me an email (look for my email link in the sidebar) if you’d like to be on the guest post list (I’ll get you confirmations, how tos and more details later). You don’t have to be a tax pro or a tax guru - but you do have to write something about tax (even if it’s that you don’t like it) for the Great Blog Off.

And it gets better.

The Great Blog Off is also an opportunity to do something good. The Business Channel will be taking charitable pledges (details forthcoming). If, for example, you want to donate $1 for every hour that I blog on June 20, you would donate $24. Obviously, flat donations are also appreciated. No need to pull out your wallet now - there will be more information about this closer to the date.

The b5media Business Channel will be supporting Accion International as our charity for the Great Blog Off. The mission of Accion is:

to give people the tools they need to work their way out of poverty. By providing microloans, business training and other financial services to poor men and women who start their own businesses, ACCION’s partner lending organizations help people work their own way up the economic ladder, with dignity and pride. With just a little capital, people can grow their own businesses. They can earn enough to afford basics like running water, better food and schooling for their children.

Basically, Accion helps small businesses all over the world to become established through small, manageable loans and business advice. This concept of microlending is fabulous and their payback record is impressive.

Charity Navigator gives Accion their highest rating for, among other things, having a low administrative expenses to donations ratio.

I am really excited about this event. I predict that it will be the most fun day of the year to read my blog! Keep checking by for details…

{ 3 comments }

taxgirl Blogoversary trivia

by Kelly on April 30, 2008 · 0 comments

in just for fun, site info

Since it’s my blogoversary today, I thought I’d randomly pelt you with taxgirl.com trivia…

My logo (the brilliant one above) was designed by artist Jay Bevenour. Jay pitched several variations of the logo to me and I fell in love with this one. I knew that it was the right choice when my daughter looked at the screen and said, “Mommy, that’s you on the computer.”

{ 0 comments }

Senior man holding a birthday cake
Image details: Senior man holding a birthday cake served by picapp.com

Today marks the one year blogoversary of taxgirl.com on b5media.com! My, how time flies.

The blog has actually been around since 2005… but became part of b5media.com on this day last year. It has been a fantastic ride and I am so grateful for all of the support from Jeremy, CJ, Darren, Shai, Tris and the other tremendously awesome folks at the network. I have also loved (almost) every moment with my fabulous group of bloggers on the channel (woo-hoo!) - there is that one fellow over at doingbizabroad.com that must drive his wife crazy. Oh wait…

At any rate, I am often asked why I would choose to blog for a network when I own my own blog. It’s true. I do own taxgirl.com - the site, the name and the content.

But blogging isn’t just about writing content every day. It’s also about finding inspiration to write something different, something that people will want to read and something that I find fun. After all, isn’t that why you blog to begin with?

As much as I love tax and I love writing about tax, and I’d probably do it even if it was just my dad reading (who is my most faithful fan, thanks Dad!), the sense of community at b5media has given me new energy. I cannot help but find my “blogging mojo” any day of the week after a chat with my fellow bloggers - and amazing Channel Editors - at the network.

A hat tip, too, to those bloggers outside of b5media that continue to inspire me. It would be impossible to list everyone that I read and admire (trust me, Google reader groans under the weight of my feeds) but you know who you are (I hope).

And I haven’t forgotten about you, my wonderful readers. I love your comments and questions - keep ‘em coming. This month was my best month ev-ah on taxgirl.com (more than 4000% increase in views since this time last year) which seems particularly fitting on my blogoversary. Thanks for reading. I hope that you find it fresh and exciting and interesting - as tax news should be!

Stick around all day for bloggity taxgirl anniversary goodness… More to come! Pull up a chair, have some virtual cake (Mom, there’s some virtual sugar free cake for you). And maybe a glass of virtual champagne… c’mon, you’re worth it!

{ 12 comments }