TAXES: Have You Done Yours Yet?

J F

Our accountant stopped by today and picked up all our crap...

Now I get to wait in agony to see what the damages will be

I could have had everything ready a month ago....but I didn't...so, sue me

I realize it's a part of running a business (or, trying to anyway)...but never a fun time.

I suppose, I should be thankful, that we made a profit, and have to pay taxes.....yeah, f&*^in right!!!

And don't get me wrong, we're no big multi-national conglomerate...we did maybe $300k...(90k, if the irs is looking)...jokinnnng.

Oh well, just bitttchin'

my posts seem to get moved quite often, so if you find it....you get a prize!!!! (not really....read the fine print)

J

Tin Cup

7 yrs in business, this is the earliest i've ever had mine filed and paid. actually they were filed 3 weeks ago.

the trick you ask? I finished my CPA's basement while he was doing my books. he got a deal, i got my stuff done good, quick and bartered with some of my labor. not bad working inside when it was so crappy outside.

Tin Cup

J F

Good for you Tin Cup...I know it's gotta be a good feeling.

Damn, I just gotta talk my CPA into doing some remodeling work the first of next year....

J

KillerToiletSpider

My personal tax return was filed the second week of January.

My business tax return was filed the third week of January, my chassis company had to pay $300.00 in taxes.

__________________
A flush is better than a full house.

J F

Wait....let me retract (sp?) that statement.

I cant imagine working for a CPA...hell, I thought engineers were tough clients...

...can you imagine..."what kind of tax advantage would I be able to procure if we purchase the 2 x 4's from a NAFTA partner that is ....."

Now I'm gonna have nightmares (on top of the tax liability ones)

J

J F

Now you're just braggin' man...good work

J

Double-A

Done and done.

__________________
"My clients’ wishes are the center of my attention." -- David Guido, a contractor in Woodstock, N.Y.
New York Times, July 20, 2006

J F

Good for ya'...and is that the normal procedure...and for how long?

J

Double-A

Yes normal for every year. I hate to wait until the last minute for junk like this. It just makes everyone grumpy.

We start preparing in December actually, making sure everything is correct in QB, nothing funny outstanding. In January we push hard to get every bit of last year's business in the system and start pumping out the 1099's for the subs that are not incorporated and the W-2's for the employees.

By February the accountant is looking over everything and bugging us for explanations on journal entries and such we might have made for one reason or another.

He uses a different system for depreciation than QB, so he'll make the general journal entries for that and anything he tracks that we don't (which offhand, is nothing I can think of).

By March, he's bugging me to come pick up the paperwork, sign it and get it mailed off. I do our personal taxes and he looks them over as soon as I get my schedule K-1s. Takes me about two hours.

__________________
"My clients’ wishes are the center of my attention." -- David Guido, a contractor in Woodstock, N.Y.
New York Times, July 20, 2006

Milhaus

Filed, and signed this week.

mark

Susan Betz

They are at the accountant's. I expect a call any day now.

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Fences of Distinction, Ocala, FL
http://www.fencesofdistinction.com

AtlanticWBConst

Been done since 2/15 (Met with our accountant). All paid up (we paid for 2007, during 2007).

__________________
- Build Well -

joasis

My appointment is next week......and I will owe.

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EricTheHandyman

CPA filed and sent it off. The gov't isn't getting a dime until April 15th though. Gives me a month to come up with it

J F

Damn....I'm just a slacker. Oh well it's all over now except for the cryin'

J

TimNJ

Done last week. Accountant busts my chops every year since I got married. "What are you doing here so early?" The wife has big$$ deducted from her pay to offset me and we always end up with a refund. Prior to marriage I always went on extension.