Tax Day=Christmas Come Early
Sarah and I no longer have to worry about coming up with rent money this month; probably next month, too.
On Wednesday, we finally got around to filing our taxes; and despite not having paid an income taxes since I became a freelance writer in September, we received a $5,000 return from the federal government and a $100 return from the Massachusetts government. I’m not too sure how that happened (since I was expecting we would actually be cutting the government a check) but I think it had something to do with the child credits for Maggie and the write-offs for running a business out of the house.
Either way, since December, Sarah, Maggie and I basically have been getting by on the bare minimum, sometimes having only $20 for an entire week worth of groceries. We’ve been dodging some medical bills that were due from Maggie’s birth already. Since the Boston Globe stopped publishing its Northwest edition at the end of March, it’s been extremely tough and the small tips from my waitering job at the Picadilly Pub have been our only source of income and probably wouldn’t have been enough for next month’s rent. So, going from having next to nothing to now having enough money that will cover about two and a half months worth of expenses was quite the shock to Sarah and I.
As the shock wears off, the realization comes of what to do with the money. Our first reaction was not to do anything brash, and I’m still living at the Picadilly Pub trying to come up with enough tip money for our family. Our second child is coming in three weeks, so it’s important we don’t do anything that can’t be undone. However, having money opens up so many more possibilities. We could use it as seed money to start a new business (restaurant, child care, home brewery, something). I could quit Picadilly and really try for the next two months to make the freelancing thing work (although the last seven months had limited success); I could take the time to write that book I should have finished long ago. It could guarantee that Sarah doesn’t have to go back to work right away after Desmond is born. We could pay down the credit cards. We could invest it in retirement, the stock market or the kids’ college fund. The only limit to the possibilities is in the amount of money we have.
One thing we did decide was to take Maggie and Desmond to Disney World. Back in November and December, Sarah and I made a commitment to take a vacation to Orlando for Christmas 2009, since Maggie will be 21 months and Desmond will be 7 months, which means they still fly and get into the park for free but are old enough to take something away from it. As we began to plan the trip, our money and our credit ran out, so the only way we were going to make it was if we had a large influx of money, such as from the tax return. With the money, we’ve reaffirmed that commitment and will head down to Orlando over the holidays. It may not be the most sensible thing to do with our newly found money, but since when is the most sensible thing also the best thing?
Of course, in the good news/bad news category, one of the Globe editors called shortly after we filed our tax return to say that the newspaper could no longer afford to accept articles from me. Given the problems of the industry in general and the Globe specifically, I was hardly surprised; but for all intents and purposes, The Dream of me living and working from home is basically dead. However, there’s still plenty of good news to go around. I’m getting a paycheck from Picadilly on Friday; the Patriot Ledger is closer to offering me a job in the summer and is sending a check for some freelance work I did; and Boston Parents’ Paper also will be cutting me a check for freelance work by the end of the month. Also, Sarah’s mom has been in town since Friday and seems to be on a mission to empty out all the grocery stores for us, stocking us up with all imaginable food and sundries. We won’t have to buy groceries or diapers for at least a month.
Of course, the best news is our family is growing by one more on April 30 (or sooner). Desmond Harold Kane will be here soon enough, and we couldn’t be happier.
Back to the point, though; it’s strange going from having no money to suddenly having plenty. Not that I’m complaining (because I’M NOT!) but life is very simple when you’re broke. You pay your bills (at least those you can afford) drive the car only when necessary and buy spaghetti and bread at the grocery store. Now, with money, you have all the possibilities to consider. Although that might had a tinge of stress, it’s a stress certainly worth having.
