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Apr 13

Favorite Things: Income Taxes

Tax return is now due

I am not usually a procrastinator. Most days I have a To Do list and all the tasks are prioritized so I know which things I need to focus on first. And I’m really careful to save all of our medical bills, prescription receipts, dentist bills, donation receipts, and any other bits and pieces of paper that document our life in numbers.

The problem comes when other stuff prevents me from getting to this IRS project until the last minute. Not to mention that I just really don’t WANT to spend my time filling out the electronic forms, sorting all those little bits and pieces of paper into tidy piles, or calculating how much mortgage interest we paid last year.

So, actually income taxes are definitely NOT one of my favorite things . . . . until they are finished! And today our 2015 income taxes are almost finished and I can now move on to other projects. I know that I could have, and should have, started sooner, but there were just way too many other things calling my name and pulling me in lots of different directions. I realize I am probably the only person who has ever left the IRS project to the last minute, but at least it is finished so it is now one of my favorite things!

messydesk721The first thing I had to do was pull out all of the file folders that I had been using all year to stuff those receipts into, to get them off of the table. Then the fun began! I had to sort through all of those piles and piles of random papers, some big and some little, and put them together by category. A few staples, and several paper clips later, I had them organized, but that’s when that task got rather overwhelming.

I’ve done our tax preparation on my own a few times, but most recently we took all of that stuff to an accountant. But that costs a couple hundred dollars (and I’m sure it is really worth that much and more, but I didn’t want to spend the money . . . so I invested the time instead). Then, I got started entering all those numbers, adding up the columns, and trying to figure out where to find the mortgage interest payments, the property tax information, and all of the different categories for medical expenses. And a bunch of other stuff.

IRS formNow it is almost finished, and I have a headache. Tomorrow I need to call the mortgage company and see if they can help be decipher what all of the lingo is on our escrow account, and then, I think I can send the whole thing through. Then wait. We are getting a refund, not a huge amount, but it will be enough to help get us caught up on a few things that have been rather neglected over the months of moving, holidays, and winter sickness.

Now that I’m healthy again, spring has arrived (sunshine and warm weather predicted for the weekend!), and I have the taxes just about finished, I feel like a new woman! Hope you got your taxes finished so you can enjoy this beautiful month of April. Please join us this week for the Thursday Favorite Things Blog Hop . . . I’ll try to stop by and visit you this next week.

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4 comments

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  1. Sally Ann

    Hi Nina,

    Just wanted to say that there are at least two of us that leave the job of doing our taxes to the last minute. We were having free help getting them prepared yesterday and I was told by a professional tax preparer that it doesn’t pay to have your own business. That was very discouraging. I don’t know if it is because of the state I live in or if she meant in general. I probably should have asked her.

    We didn’t have all the information we needed, of course, so we have to go back to get them finished today. Then I will be looking forward to that sunny warm weekend that is predicted for us as well.

    Have a lovely day,

    1. Nina

      Hi Sally Ann – that would be something we both should look into more closely. I now have to figure out some of my at-home business expenses (way more than income, I’m afraid!). I just wonder if there is a way to balance it all out so that we can help our families out financially while still taking care of the other stuff that needs our attention. Please let me know what you find out, and I’ll keep working on it, too, so we can share that info with our friends out here in blog-land. Thanks for stopping by! Hope you have a wonderful weekend ;o) Nina

    2. Sally Ann

      Hi Nina,

      Well one thing I found out, I needed to be saving a small percentage out of each of my sales that I had over last year. And also keep track of my mileage for another part-time job I have. That would have helped me out with paying what we owe this year. OUCH!

      I had a housecleaning job for the past 9 years with this lovely lady who is now 95 years old, but now she has Care Givers coming in 24/7 and I am just doing 1 day a week, so I need to make my Etsy shop work like a real shop.

      I keep saying that but I haven’t had much luck with it so far. But these things take time and hard work so off I go to put in both. Have a lovely day Nina. 🙂

  2. Kathryn Ross

    Oh my, Nina! I use Quicken and categorize my receipts each month. It’s enough for me to have to copy and past a record of my year from the register and create a spreadsheet for my accountant. Takes me a full three days of tears and struggle. I’m all about words–not numbers. Math really makes me anxious. Reviewing a year’s worth of credits and debits is depressing. As it is, we leave in a bit to pick up our finished taxes and head to the post office to get what we owe off to the powers that be. Ugh.

    Decidedly not one of my favorite things.

    Joy!
    Kathy

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