Did I Spend Too Much on My Business This Year?

[wadesgirl]

I finally got all my receipts and mileage into P3. I'm slightly shocked at what I've spent on my business over the last year! I know it's all good and I wouldn't spend it if I didn't feel like it. I also haven't added my computer or the percentage of our household bills to it yet. I do know that I have ALOT of mileage that does add up and is a great deduction (4,419 miles!).

I have learned that I need to cut down on my consultant gifts! I do love to give to others but when you see it all added up - OOPS! The biggest was a gift for a bride. I usually give my bride's a gift for their wedding but since she got married a week after the shower, I just added it to her show. I had a bridal shower before my wedding and was a little sad that I didn't even get a card from the consultant who did my shower so I do try to do something special for my brides.

And I've helped the USPS out ALOT!

 

[pampchefrhondab]

I'm trying to get mine done tonight! I'm going to keep up w/it this year and not wait until tax time!!

 

[Crystal Patton]

I dropped all of my stuff off at the account on Friday. YES!!! It's finally done!

 

[jrstephens]

Glad everyone is getting finished. We got our refund this week. Still waiting on state though.

Alabama is talking about IOU's!! I bet they would not accept an IOU from me during the year!:grumpy:

 

[Crystal Patton]

Glad everyone is getting finished. We got our refund this week. Still waiting on state though.

Alabama is talking about IOU's!! I bet they would not accept an IOU from me during the year!:grumpy:

IOU's!?!:grumpy:

Do you get to charge them interest and penalties too?

 

[pampchefrhondab]

Yeah I heard states were going to start doing IOU's. I would make sure I didn't over pay next year! That's crazy! Luckily Indiana is in good financial state - thanks to Mitch Daniels.

Well I finished my PC portion, but have to figure out the college expenses for my oldest - this is the first year. I will be reading info. at IRS.gov today!!

The form the college gave us only listed the amount they billed her, not the total received - which makes no sense to me since she paid it! Anyone else had a college student?

 

[Intrepid_Chef]

I'm shocked at what I've spent too, though a big chunk is mileage and a big chunk is conference, which I'm not doing this year.

Whenever I get something for myself on a show, I list it as a consultant gift so I can deduct it. I won't be doing that this year, either.