It's my least favourite month, coming up to my least favourite day.
Yep, income tax day or what I call Guilt Day. Not because I'm guilty of doing something illegal, but I feel guilty trying to "claim" every thumb tack, paper clip and sticky note that I can to recoup the taxes that were stolen, I mean removed, from my wallet by the federal government.
And this year is the first time I have to do taxes for my Coffee's On business. I finally got my personal income tax figured out and now I have to work through the obstacles and jump through the hoops of business deductions.
Capital expenditures, depreciation, earned income…it's all Greek to me. This year, I have to keep track of my mileage, my gas receipts, my HST both collected and paid, and my purchase of every little thing that might be business related.
Thank heavens for accountants who enjoy facts, (more…)