Well, it's that time again.

I got my W-2 forms in last week, a signal that tax time has arrived once again.

I spent a good portion of one day sorting through documents, looking up receipts and tracking down information on my computer system.

Given the fact that I am not savvy on such matters, I must pay someone else who is savvy to take care of my tax questions, some of which are on the obviously ignorant side. For instance, I found out from one of my co-workers that insurance costs are tax deductible, but only if I spent more than 7.5 percent of my income on medical costs. In my case, that amounts to one trip to the doctor, two prescriptions and a bottle of aspirin. Given my pay rate, I think I have enough to qualify.

I also can deduct mileage, church contributions, charitable contributions, taxes paid over the last year, camera equipment purchases and other related items.

The problem is not usually in finding that which is deductible, but in tracking down all of the necessary receipts by year's end.

It is almost enough to make you wonder how all of those receipts could get so far flung in such a short period of time.

It is just another example of one of those things I always say that I am going to fix, but never get around to doing.

It would be so simple to create a little file called "Tax 2003" and drop all related information inside for the year. Then all I would have to worry about when I got my W-2 form would be driving down to see the accountant.

But no, I have to do the last-minute scramble, calling the accountant for insurance information and mileage, hunting up old check stubs and digging in a shoe box for the receipts that should be sorted in one way or another. I wonder if everyone has the same problems? I just can't keep track of any piece of paper for an entire year.

I can remember a time not too long ago when I filed the simplest form of taxes, taking standard deductions on everything and sparing myself a major headache.

I think I read that most filers (about 90 percent) do take standard deductions and move on with their lives.

Sometimes I think I would be better off to go ahead and take a loss and not have to go through the find and file process. Then again, I have never turned away from money just because I had to do a little work to get to it.

Most of the time, I try to earn a little something every weekend to help account for my time. How could I, with a clear conscience, let the government keep more of my money than it deserves. Of course, no matter how well I file my taxes, I still think the government will get more money than it deserves. But that's another story.

I would be all for eliminating all income taxes, which seem totally illegal and immoral, and make a 30 percent national sales tax.

That way, those who have the money to spend pay the taxes. It eliminates the problems with people coming to work in this country and not paying taxes and allows tourists to help foot part of the bill for the rest of us. Those who had more money would spend more money and thus pay more taxes, making the plan equitable for both rich and poor. But no one is going to take that advice, it makes way, way too much sense.

In another report that came out this week, I read that about 55 percent of those who get the Earned Income Tax Credit file with companies that offer to get their money back faster through high-interest loans with catchy names. These ‘loans' look like someone is just getting their own money back sooner, but end up costing the average taxpayer about $100. Said taxpayer only gets the money about one week sooner than those who wait for regular electronic filing.

I file electronically and usually get back my meager refund amount within 14 business days.

I don't know too many people who can't wait an extra week for their money in order to save a cool $100. But I do know a lot of people who don't wait.

Patience is a virtue when it comes to living, but a necessity when it comes to financial matters. Making money is all about spending time.

Think about it. You get paid to do a job based on how long you do that job each week. Everything about money is tied in with time. The longer you leave your money in the bank, the more interest you draw. The longer you take out a loan, the more interest you must pay.

So take my advice, wait a week and spend $100 on your family instead of to line the pockets of some loan shark in businessman's clothing. If you need to get rid of $100 that bad, come over and visit.

Get more tongue in cheek commentary this week's issue of the Alleghany News!

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