Travis H. Long, CPA, Inc. Blog

Originally published in the Cedar Street Times

July 11, 2014

At 7:50 am on July 3rd, I entered into my second contract of fatherhood! Fortunately it was not during tax season like my last contract when my son was born!  No, I was all smiles when my daughter, Claire Elise Long was born in our home with the help of our wonderful midwife, Maggie Bennett, weighing in at around six pounds 14 ounces and 19 inches long.

Whereas the vast majority of children born on the Monterey Peninsula have a Monterey birth certificate due to CHOMP’s location, I think it is quite fun that my son has a Pacific Grove birth certificate and my daughter will have a Pebble Beach birth certificate.  I told my wife, Joy, that we need to move and have children in Seaside, Sand City, Del Rey Oaks, Carmel, and Marina so we can collect all of the more rare birth certificates.  She did not find that as amusing as I did.

I think Claire Elise may be a Daddy’s girl as she followed through on my in-womb negotiations with her about the timing of her birth…unlike her brother, Elijah, who came during tax season despite express language in his birth contract stating otherwise. Claire Elise upheld the terms of not exceeding seven pounds eight ounces (a point bargained for by her mother) and she was given a right to exercise her birth option from June 29th to July 31 with a birthing bonus if born on July 4th.

When negotiating pressures intensified in the early hours of July 3rd, Joy caved and was very easy to persuade and saw no further need to hold out until the 4th.  I, however, needed more convincing.  Claire Elise deftly pointed out that being born exactly on the first day of the 10th fiscal quarter after her brother was born, would simplify things for quarterly reporting purposes…she knew how to push my buttons.

After holding the beautiful bundle of love, we immediately decided to approve her initial contract for child-rearing.  When my son was born we struck a deal with him to extend his initial contract through kindergarten with two renewable six-year options.

The second renewable option would include an opt-out for us after the middle school years.  There would be some additional language which could allow for a third six-year option to get through the college phase depending on certain performance benchmarks achieved in the prior option period.

Based on our experience with our son, we decided to offer similar terms but with some additional specific language regarding liquidated damages for things like unprovoked dumping of milk and juice and other gravitational experiments with glassware and plates, storing the remote control in a cup of chocolate milk, and breaking necklaces and expensive pairs of eyeglasses.

With business out of the way, we have been having the time of our lives…again!  The precious little noises and movements, the intoxicating cuteness, and her absolute and impartial trust make life a true blessing.  As I hold her in my arms, I know there is much good to come.  I can now look forward to not only experiencing the unique joys of having a son, but also the equally unique joys of having a daughter – and for this, I am very grateful.  I love you, Claire Elise; you make Daddy very proud!

Next step…convincing Momma that baby-modeling is a good idea so Claire Elise can generate earned income and open a Roth IRA!

Prior articles are republished on my website at www.tlongcpa.com/blog.

Travis H. Long, CPA is located at 706-B Forest Avenue, PG, 93950 and focuses on trust, estate, individual, and business taxation. He can be reached at 831-333-1041.