Well, it’s that time of year again—tax time. Some people find it a very taxing time of year, but I find a bit of satisfaction in it, to be honest. Math has never been my favorite subject, but I enjoy it when all the numbers work out right—like that moment when your checkbook balances. There’s an instant gratification to it.
I had intended to get into the taxes last week, but my daughter was home all week with a stomach bug—another taxing time! However, she is back in school this week, so I dove into the tax season with gusto.
I have an account to do my taxes, and she very kindly sends out a Tax Organizer sheet every year. This details what paperwork you need to send her (such as W-2s and 1099s) and what other information she needs to have (such as expenses, donations, etc.). So my taxes are not so much about doing a great deal of math, but more about being organized enough that I can find everything she is looking for.
At tax time, I look at the big picture of my business. Going through the numbers always brings some surprises. The inventory numbers pleased me, even though I had not moved as many units as I had wanted. My income, although a paltry sum, also satisfied me. On the whole, my first full published year met my expectations. I broke no records, but I have something to build on, and writing is a long-term game.
Now that I’ve gotten everything together, I will deliver it into the hands of my tax guru. And then we will wait for the next surprise—whether we owe or get money back.
I’m hoping for another pleasant surprise there.
How about you? Do you find this a taxing time, or do you have it down to a science?