Tax Time Again

Here it is, April 15 . . . got the taxes off (yes, I put them off - a-g-a-i-n!!)

It's funny, it really doesn't take me that long to go through my paperwork & get the figures sorted out & down - why do I put it off?? Mmm could it be because I know I'll have to pay?

& despite my resolve, I only paid the first quarter's estimates last year - I sent those off again with my payment, & broke down the quarter into each month's contribution - will post that somewhere at my office - maybe in my the change & credit card slip bag in my drawer! (it's funny - April, June, Sept & Jan don't quite seem like 'quarterly') Also the amount I want to contribute to my IRA.

Last year I was busier the first & last months of the year, & business really does seem to have picked up a bit. On the 14th, I did a bit of 'first aide' chair massage at the tax office where my gal friend works - much appreciated! She & I plan to have lunch tomorrow, celebration time! Our Red Hat group is going to a tea room that wasn't interested in working with me to find GF options 'Everything we make has gluten!' . . . 'we don't serve salads' (well then, thanks!)

Last week my daughter & I attended a fascinating talk on Mental Health & food intollerances, with a focus on gluten sensitivity. Gluten Free RN was the main speaker, she discovered her own sensitivities 4 years ago, when her health had seriously deteriorated, & she felt she was on death's door. I esp. enjoyed her description of having 'Polish Potato Picker Legs' which had developed pitting edema - at 40! Yikes! She's lost 35 # in the 4 years since, & we were both wearing 'skinny jeans!'
She's a great local resource, attending our GIG, Gluten Free Friends' monthly meetings, & offering insight.
She had been an ER Trauma nurse, & on her site, comments: " I have been an ER nurse for 16 years, I saw multiple doctors, and still could not figure out what was killing me.
"Within 2 weeks of being on a gluten-free diet, I felt much better! By February 2007, I started RN On Call, my own business. In March 2007, I became a gluten intolerance/celiac disease educator.
"I can save more people with this information than I ever could have saved in the emergency department."

She's also on Facebook; as is celiac nurse, who has a great 12 part series with information about many of the ways gluten sensitivity can manifest. Both these great ladies are on Facebook, too:)

My daughter-in law & her two kids are spending the night - she works with the 'horse vet' from a local clinic, & will be riding on 'rounds' with her tomorrow. My son has an early job (at Nike) so will come over about the time she leaves, as I have an AM massage to give. It's fun to have them here - they had a grand time running around with their cousins!

My daughter's kids are in the middle, my son's on the outside - 6, 10, 5 & 4 years old! (can you see the ballet influence? :)
I fed them free range chicken, mixed grains, & greens from the garden with root veggies from my CSA share. They put the sun to sleep, staying out till the last possible moment!
Now they're all tucked in & sound asleep.
My daughters girls are back home, across the fence, sigh. Next month they'll be moving across town! It's good, their house is way small, & the new one is the same style, 50s with hardwood floors, etc; only 2 owners before them! & on a double lot! With veggie garden already in place . . . still . . .

Tax Time

As a self employed person, tax time is always 'interesting!'

First, time spent pulling out the paperwork, the paper trail we all keep. Then pulling out the calculations from the previous year, to jog my memory on anything that I'd forgotten, . . . Schedules for 'profit & loss from business' & Self-employment, deductions (as a home owner, I can deduct that interst, & my donations - my dad would be proud!) Long form for both state & federal taxes.

One year I resolved to do my books monthly, & after finishing my April Chores, & put Jan thru April of the current year into Quicken - within a month or so that computer crashed! Misery! I keep a log with what I take in, & use my check book & CC notes for recording bus. expenses.

I was an employee for ~ 4 years while I lived at the resort - that first year I'd moved in ~ April, so had both a W-2 & the S-E paperwork - but after that, the simplicity of Short Form - bliss!! & I had a lot of freedom within that job, so it felt like the best of both worlds! In the early 70s, a Gypsy fortune teller read my palm, & told me I'd be happier working for myself . . . & for the most part, I have.

A young girl considering taking up my career in Health care asked if I wouldn't prefer being self employed?? Since I work with others in a clinic setting, rather than from my home or private office, she had a hard time believing me when I told her I AM self-employed! & that there are advantages to a group practice (8:30-5:30 receptionist, group advertizing & retreats, great office space & co-workers . . . ) I also mentioned the lack of retirement & health care plans (we can buy supplements at a discount, so that's my main 'healthcare!')

& with the new administration at the national level, I feel better about the intention on how these monies are spent - I do feel it's an honor to help co-create the world we want to live in, it's just been hard to keep that in mind over the last few years.

A few years ago I began an IRA, & enjoy seeing that account grow. For several years, I would calculate my taxes both ways, to see the difference an IRA would make in what I owed - & resolve to start one SOON. The resort is 'worker owned,' & we got annual dividends - I've wished that I thought to begin an IRA with one of those!!
When I finally did, (just after tax season) I was surprised to learn my first deposit could be $100 (very 'do-able!) & I chose a plan where I can contribute any time I want ($10 or more). I try to put $200 in each month. My goal for next year is to increase that to $300/month, & pay my federal taxes quarterly (as I'm 'supposed to').

I've mentioned IRAs to my co-workers, & the youngest began one! She has also purchased her own home within the last year, & seems to have a good business sense. For anyone who's self-employed, do look into IRAs!! It's so easy, & it's fun to see the #s grow! There are several choices in plans, find one that fits for you. Some just allow one 'lump sum' contribution - I like being able to put in little bits!
The income isn't taxable 'till you begin withdrawing from the fund - usually at a lower tax bracket. It's ideal to have a savings account as well - I know, in this time of $$ uncertainty, many of us are struggling to make ends meet!! When I bought my home, I was told to get a credit card to 'establish credit.' It's still my only card, & I pay it off each month, so no interest gets charged.

With my IRA, the money just putters along gaining interest, no fluctuation with stock market & such. I picked my S & L (across the street from our office) for my accounts & IRA, they reinvest in the community, hire locally, & last fall gave their usual dividends when other banks were beginning to struggle. They also have a local donation program, we get to vote on which organizations receive funds from the S & L itself (you can nominate ones that aren't on the ballot) At Christmas they collect blankets & toys.
My home loan is thru the S & L as well, so the interest I pay helps them fund other loans. A young woman who worked for Habitat for Humanity is now their PR person, so helps organize events, inc. the donation program. At a 'business after hours' open house, she commented on 'our' loans (her home loan is thru the S & L as well) fund other loans - & how much of the money stays in the community.

We have a lovely downtown, 'Oregon's Favorite Main Street,' & a recently organized 'buy local' campaign by local business people. I have attended a few events & put both my group practice & my harp business on the free website.

Tomorrow I'll start inking in the tax forms - & Monday 'top up' my IRA contribution (plus getting the ammended slip - I can contribute up to $5000 in this account per year). Might even get them sent off before Wed :)

Cheers!