Taxes

Sorry for not writing much lately, but last week hubby came home and we worked on the taxes. While most people have a dozen or so receipts, between his trucking expenses and my art income, we literally have a paper grocery bag full of receipts. When we sort them into a 12-month expanding file, it's totally full of his stuff and mine gets it's own expando-file. It took us 3 days of sorting and listing expenses, but we finally got all the totals for things like diesel fuel and postage.

And while I would love to say it's all done, now the 'fun' part comes. Since his truck involves depreciation and a home office, we send our receipt totals off to our accountant who actually does the form filling out. He also gives us the bad news.

Yes, we will owe taxes this year. We always owe taxes. We are both self-employed, so that means we pay about 30% of our income in taxes and social security taxes. I have a guess at what we owe, but I'll wait until the accountant calls with the results. And then we get to try to figure out how to pay them. (The $5000+ in repair bills ate up most of the money I set aside for taxes.)

Now that I have this headache taken care of, I need to get back to work to earn money to pay the taxes!