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Saturday, January 10, 2009

Tax Time...

Just so everyone knows what I am up to... it's time to do my taxes for 2008. Yay. I am so very enthused about that. Basically, I have always been filing taxes as a dependent of my husband, in which we fill out how much I have made (incredibly minimal) and life goes on. No expenses, paperwork, etc. Very simple. However, as I've recently been taking steps towards becoming a registered business, with properly filed business taxes, 2008 was the year to start. Of course, I didn't really start and keep records like I should have. Don't get me wrong, I had piles of receipts and I have my bank records and PayPal history all printed out, but my goodness... just looking through the small-business tax guide was giving me heart palpitations.

The good news? I have spend endless hours at my computer working towards having an efficient and streamlined filing system. I love working with Excel and spreadsheet calculations, and have essentially created a filing system that I can use on a daily basis to track income, expenses, capital cost allowances, etc. It is based very closely on the actual tax forms, so my hope is that next year (January of 2010) I can just enter a few numbers and hit submit, and taxes will be done!

I really do like being an organized person, but at the same time, I am a horrible procrastinator. Usually the two of those do not go hand in hand. And so, one of my main goals for this year (please note: NOT a "New Year's Resolution" - I hate that phrase and the connotations that go along with it) is to be more organized with my business, and I feel like I'm well on my way!

So although I'm not putting colored pencils to paper, I am still very much busy on my art business. Currently (yes, at 12:00AM) I am watching American Pie (all three movies in a row, likely!) on my TV, and entering info into tax forms. With luck I might be done by 4AM.

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