Tomorrow Bob and I will drop off a van full of usable and clean items at Goodwill Industries. We have acquired so many things and certainly could donate more but for now we will unload some clothes, dishware, books, and linens.
Tomorrow we will visit my Quicken reports of our personal finances for 2008. We will decide regarding IRA contributions which we have until April 15 (or the day we file our 2008 taxes) to make. Our thinking is that maybe the market is near the low. Buy low. Sell high, not low.
Our little business will hold its annual meeting which is a requirement of corporations. We will distribute a chunk of the profit for the year in the form of salary and SEP-IRA contributions. Through the year Bob takes a regular monthly payroll check but the rules are that S Corp income mostly be paid out as salary.
I will cut checks for as many of the bills the corporate faces including the large American Express amount so the books will be clean going into 2009. I will set up new files for the likes of bank statements and payroll.
What can you do to clean up your books by 12/31? Can you make charitable donations? Make that state income tax payment early so the expense on Schedule A will include the payment that is due January 15.
Once I get this all done, I can reflect on the year that was 2008 and consider resolutions in the New Year.
'til later
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