Today is the day I will compile our spending so far this year. It's not very difficult since I maintain our checking account on Quicken. It makes bank reconciliation very quick each month and as I enter the checks written I categorize each to an expense line item such as utilities, gifts given, fuel for the cars, real estate tax, etc.
We will study the 11 months so far and make some decisions that we will implement in December. We have a gift given budget which we will revisit. Bob and I will decide if we are giving gifts to each other (I hope so) and the approximate value we will spend on each other.
We will visit the charitable donations so far this year and consider making more by year end. I will recap federal and state withholding so far in 2008 and provide Bob with our tax liabilities for 2007.
By the end of the year, our business will have its annual meeting and bonuses (if there are any) will be given. Since the only officers and employees are Bob and I, it is simply a matter of paying out any extra income through W2 wages.
It's comforting to know ahead of my major Christmas shopping these next 2 weeks just exactly what is budgeted. It's important also because our Visa credit card statement carries a 25th of the month payment due date. In December that's Christmas Day.
Plans are important. Gift giving can be delightful.
'til later
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