I know for a lot of us, it feels like we are still recovering from the 2022 tax filing season as the 2023 season is right around the corner. Add the new BOI requirements and 2024 is looking to be another eventful year. At least we can count on a 4/15 filing deadline this year, right?
Regardless of the challenges, I am optimistic 2024 is going to be a great year. We are finally getting relief from the compliance headaches of PPP, ERC and other Covid-related credits. We got 100 percent bonus depreciation back for one year, an increase to 179 expense and an increase to the refundable Child Tax Credit, just to name a few of the recent positive changes. That said, it may be time to take a break from worrying about learning new tax laws and forms and make 2024 a year to focus on our own personal health and well-being.
Over the last few years, we have dealt with staffing issues, tax/law changes, Covid shutdowns … the list goes on. We pushed through all of this because that is what we do, but it is time to take a step back and focus on YOU! I once saw a sign in a doctor’s office showing a patient telling the doctor they do not have time to exercise, and the doctor responding by saying, “How about a heart attack, do you have time for that?”
All jokes aside, it is time we make time for ourselves. For those that were able to attend the January Council meeting or have been following the CalCPA Mental Health Wellness Series, you have witnessed the shift in focus to mental health and dealing with burnout in both your personal and professional life. Whether it is your mental well-being or your physical well-being, it is so important to take care of yourself. I know for myself I am choosing to make it a priority for 2024 and I hope you will join me.
Along with the new year comes the end of my term as president. This has been an incredible year and an incredible journey. Our chapter has an amazing group of board members and I appreciate all of the participation and support along the way. I look forward to welcoming Di Wu, our incoming chapter president, and can’t wait to see what is to come. I wish you all a successful and healthy tax season.
All the best,