Benjamin Franklin said it, Mark Twain wrote it and thousands have come to know the truth of it for centuries... There is nothing certain but death and taxes and it is that time again when I debate which one to deal with....
Of course I will deal with the taxes and then consider the other after I have a chance to process the results. ... no, no, just kidding. I just don't like this part of owning a business. Everything else I love! Working from home, in my PJ's, setting my own hours and working just as hard as I want.
But this part I tend to put off and procrastinate about. My husband keeps saying, just do a little at a time. But because I use Turbo Tax and it automatically tells me how much I owe in big, screaming, bold, red numbers, I prefer to do it all at once and get it over with. Granted, we don't have a lot of overhead and try to put as much back into the business as we can but I just can't justify entering the income and going to bed peacefully knowing that number is super high.
I know it will go down once we enter the deductibles but in the mean time I sit and stress over that unusually large number. I am not so good with quarterlies and Missouri requires no quarterly B&O taxes unlike Washington where we started the business, so I know the number is going to be high. We have saved and prepared for it but it's the fear of the unknown that I stress about. Sometimes this week though I will set aside several hours and devote to the dreaded taxes.
Why don't I pay someone to do it? Because I cannot justify paying someone an extra $100+ for one extra form here and there... SO not worth it to me. I have been using Turbo Tax for years and have grown accustomed to and familiar with the system. It certainly isn't broke, so I don't want to fix it or re-vent the wheel... I just gotta break down and do it.
How do you deal with tax time?
Comments(23)