Monday, August 18, 2008

Taxes, damn taxes.

The downside to actually making a real profit is that we owe money to the government. We finished up our taxes last night, and are going into the accountant this morning.

We are going to owe a bunch of money on Oct.15, probably enough to wipe out whatever I've managed to save by then. So the rest of fall and Christmas will have to be the time to actually put money in the bank.

Trouble with owning your own business is that unless you are disciplined, it's very easy to put off paying until the end of the year....which really makes for sticker shock. Linda has tried to make payments, but just like me finds the everyday expenses of a business enough to make it difficult.

For me, the middle of April is about the lowest cash point of the entire year, but October is much much more manageable.

What's scary is that it will be even worse next year.

But as my accountant always says, owing taxes just means you made a profit.

I try not to get too worked up about it, since it's unavoidable.

2 comments:

Marge said...

Dunc,
Which store is your wifes. I need to trade some books in.

Marge

Duncan McGeary said...

Oh, I put the answer on the thread above...

oops.