My Classes

A few of you have asked what "classes" I'm taking. I'm taking the H & R Block Tax Class. I've been working in the tax/accounting field for 4 years now and have developed an interest for it. No matter where Eric and I move, I can always prepare taxes! Because it's a profession that travels easily, the military actually offers spouses scholarships to take the course. FREE...heck yeah! Plus, with Eric starting a residency next summer, I won't be able to do anything like this. He'll be on call frequently, studying, and at work a lot! This was my chance to do something for myself and to expand my mind. I haven't furthered my education since I graduated with my Bachelors degree, and my mind was beginning to turn to Mommy Mush! Even though we've only had 2 classes, I'm very excited about it and am learning a lot.

I'll try to post a TAX TIP that I learned in a class that I didn't know and think is important for other people to know. Here's TAX TIP #1

Cancellation of Debt

Taxes are due on any debt that is abolished. For example, Jane has 10,000 worth of credit card debt and is having trouble making payments. She calls the company and manages to get her debt reduced to 1,000. WOOHOO is what Jane is thinking, but she won't be thinking that come tax time. Jane will receive a 1099 in the amount of 9,000 at the beginning of the year. The IRS considers the amount the credit company reduced her debt as INCOME. Jane can expect to pay taxes on that 9,000. If Jane had paid the full 10,000 on her own, it would have been with wages she earned that were already taxed. The same idea applies to foreclosures. I knew foreclosures and debt consolidations affected credit ratings, but I had no idea it would also be included on a tax return. More tips to come. This class is 2 nights a week for about 11 weeks!


The boys are on the mend. I didn't take them to MDO yesterday, but took them to the commissary with me instead. Connor was fine until we hit the frozen foods (the last 2 aisles). The ear piercing screams started, so I made a mad dash to the check out and made it home before the meltdown got really bad. I put them down for a nap and Connor slept for 5 WHOLE HOURS! Brandon was up around 12 so I took him with me to run some errands while Eric stayed at the house. Connor was still asleep when we got back. He actually ate dinner, after he skipped 3 previous meals. They woke up this morning in an OK mood. They took a good morning nap while I cut the grass. It's 330 now and they are both sound asleep again. A few more days of medicine and they should be back to their normal selves.