It’s finally starting to ease up a bit for me. I realized yesterday, after working in my garden for three hours, digging an 8 foot long by 2 foot wide and 10 inch deep bed, lining it with chicken wire and filling with composted manure and the dirt I’d dug out of the bed, that finally I’ve completed my goal to get my garden back in order. It took six months, but I’m proud to say that I did it. I looked at it back in September and fought the urge to run screaming from the overwhelming massiveness of work that had to be done. I determined to get the job done one small area at a time. I beat the weeds and I’m winning the war with the gopher, whose nose I almost got the chance to photograph on Saturday when he was daintily snatching my bitter and bolted to seed lettuce. That first bed started back in September is his favorite place. I can’t wait until all the plants have finished going to seed so I can dig up the area and underlay it with chicken wire, and then he’ll have no choice but to move someplace else. *crosses fingers*
The darkness of Quickbooks, accounting, and income taxes is still engulfing me, but I’m finally beginning to see light at the end of the tunnel. Naturally, if it’s not one thing, it’s another.
I was pleased to see that we may only be liable for between $100 and $200 in income taxes due to the businesses getting off the ground. Due to Section 179 Mr. A is able to fully deduct the heavy machinery purchased in 2008 for his second business. That’s $5000 worth of deduction. No depreciation necessary. I think that’s a good thing.
But then today, I happened upon a Quickbooks tip that said make sure the accounting method (accrual or cash) that you use in Quickbooks matches the accounting method used for your income taxes.
When I went through the question and answer process to start Mr. A’s companies in Quickbooks Simple Start, the answers determined that accrual was the method we should use.
But while I was going through TaxCut and looking over last year’s return, I see that our tax accountant last year set us up for cash. Whoops. Now I’m not quite sure what to do. I understand it’s a big no-no to keep your books accrual but report to the IRS that they are cash. Apparently, if we need to be accrual, I need to get permission to change from the IRS with Form 3115. Heh, and the IRS grants permission within sixty days. I guess we need to stick with cash accounting.
Another hurdle to wade through. Is that hard to change with Quicken, I wonder? Must I start over from scratch?
I also came to the conclusion yesterday, during my three hours of solitude in the garden, that perhaps my writing mojo had disappeared since much of my creative energy was being put into the dirt of my garden, and my brain power was being taxed by the taxes of business. Very taxed, mind you.
Speaking of my garden, it’s time to get out there and water. I have newly planted seeds in the beds and they need to stay moist in order to begin their transition into cotyledons.
Have a wonderful evening!
P.S. New header images! I was able to capture a lovely closeup of a ladybug on my bolted cilantro, as well as yellow flowers on my bolted lettuce. If you hit refresh you will be able to see the various headers. There are six altogether. They seem to appear randomly each time refresh is hit.