Getting ready for my third fiscal year end

Okay. I might actually be getting the hang of this. =)

I’m the sort of person who actually looks forward to tax season. For my tiny company, I set it to September instead of December. That way, I can spread out doing my business taxes and my personal taxes.

I wanted to get a head start on preparing my taxes, especially since I switched to the HST Quick Method this year. After a little over two hours fiddling with my books (reconciling my statements, filling in the gaps, and figuring out quick method calculations), I feel reasonably certain that I’ll be able to do this year’s tax return myself, too. Based on my numbers, it looks like switching to quick method was worth it this year. (Better late than never!)

It was a pleasant surprise to find out that I’d earned the equivalent of almost a month of living expenses through pay-what-you-want e-book sales and $5 Helpouts. Thank you for your generosity! =D I’m looking forward to shifting time away from consulting and towards making more things that I can share with people.

Interest income added up, too, but not as much as equity investments would have. It might be time to learn how to pay myself dividends so that I can personally invest more into the market, or to sort out what holding investments in a corporation would be like.

Now that my trial run of taxes is done, I just have to wait for the final numbers to come in over the next few weeks. How exciting!

  • François Wirion

    What software did you use? Excel? Don’t say Emacs! ;-)

    • Quickbooks and TurboTax, actually. I keep my personal books using Ledger and Emacs, but for business, I’m fine with using programs with more training wheels… =)