PAST EDITOR'S MESSAGE | WINTER 2012
Welcome to a new year!
I am really looking forward to starting this new year. But before I can enjoy it I have to finalize last year.
As a small business owner my accountant had advised a few years ago that I should be doing all of my accounting on QuickBooks. So through the years I have done so, kicking and fighting along the way. My previous accountant did this for me, but he has since retired. I was thrown in this new world of recording and being more responsible for my accounting actions. So, the first weekend in the new year I spent my free time in my office, updating my checking and credit card accounts. I slacked off of reconciling my credit card so I had some serious work to do. Don't ever procrastinate, it's just not worth it! Here are a few things that I had to do my first weekend in January 2012. Submit my monthly EDD (Employment Development Dept.) payroll tax and make payments. Complete and send my quarterly State DE-6 and Federal 941B taxes, Quarterly Mills tax (city tax). Then I had to send in my Annual FUTA (Federal Unemployment) tax return and Reconciliation forms. Also I had to calculate and send W-2's and send vendors that are eligible for 1099 forms. I had to make sure that my estimated quarterly tax payment went out by the January 15th. Whew, I think that is it. Although never done. This is the time of year to submit FASA forms for my college student. I must collect interest forms and other deductibles to establish my annual income tax, so I can start paying another round of estimated quarterly taxes. I must not forget to save up for my annual property tax that is bestowed upon me for having equipment as property. What I don't understand is why I have to pay school bonds through my business property AND my home property!
Since I know that most of this is coming, I usually am prepared for it..
In the middle of all of this I have been trying to wrap this newsletter up and put together a Power Point presentation to present to my local Seattle Study club.
I wish it would snow, so I could release all of my stress by going snowboarding. Does anybody want to join me?
I hope the New Year brings all of you joy and prosperity.