Tax time blues

Sometime late last night, my back sore from more than a dozen hours plugging away on the computer, lost in the world of QuickBooks, and hopped up via my 5th cup of coffee, I found myself back in the college haze of hating myself for gross procrastination. Damn you, Loomis! You fucking moron! Why, oh why, did I take all of those lit classes... would at least one business course have killed me?! (Probably).

That's right, woodchuck-chukers, its Tax day! What? you ask... I thought we have a whole extra month to await that truly disgusting time of spring. Well, right there its obvious that you don't own your very own corporation, Son, cuz if you did, dawg, you'd be trippin' cuz your Inc.'s digits is up 'fore you get your club on to-nizzle.

God, its exhausting trying to talk like that. Anyway, this morning I had an early appointment with my accountant. I like the celebrate that sort of event by staying up really late and waking up insanely early in order to get my shit together enough to appear nearly adult enough to run a LLC in the first place. On top of that, despite my moving to a new city and not working all that much in the first half of 2006, I made about 20% more than the previous year, and have been getting truly terrified at the tax ramifications of it over the last few months... again, I'm an idiot. And that is part of the reason why I've had to reschedule today's meeting 4 times. Me: schmuck.

The short story is that the meeting went smoothly, and my accountant was very helpful (he's used to us bum photographer types). I didn't actually have to pay any money today at all, which I was prepared to do, but am happy to wait on as well. Furthermore, I know have a much better understanding of business tax law (as much as I need for the time being, anyway), and have already made some progress towards putting myself in a better position in the future.

Tip of the month: Last week I opened up a new business savings account that I've ear-marked for use specifically to hole away a percentage (roughly 20%) of all of my deposits, which basically will be doing the normal job that any employer does for their staff (by taking out federal withholding, and Medicare from your paycheck automatically). If I stick to it, next December when I meet again with my accountant to wrap up fiscal year 2007 I'll be away ahead of my liability and perfectly content. Mmmmm... that sounds good. Peace of mind is always well worth it.

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Comments (1)

well at least you know your 20% is going towards good things like education, public healthcare, and the arts... OH, whoops... ummm, i take that back, but somebody needs to put gas in the imperialism machine.

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