March is my busy month!

My posting may get more sporadic now we are into March. The good news is that I can make a lot of money in March because the government has to spend all its budget before its fiscal year end on March 31. The bad news is that I have a hard time saying no so I end up running around with 3 computers running, Mr W working away, AND multiple projects on the go! But it is worth it, and April will be here soon enough.

I was looking at our debt payoff schedule after Mom emailed me to say we only had $1500 left to pay them back! Yay!!! But even more exciting was that by the end of the month we will have paid off more than $20,000 of our debt. And we did this in one year, since our first big debt repayments started in March 2007. This gives me more incentive to work hard in case I consider saying no right now!

I managed to do most of our taxes in February, and in April I plan on seeing an accountant to ask a few questions before I file. I am reasonably comfortable filing our business taxes since we are quite simple, and don't have any employees, but there are a few issues I want to clarify to make sure I am interpreting the government rules correctly. Right now we owe $20k in taxes because we haven't paid all year (funny how that is close to how much we paid in debt, but just coincidence). This is fine, but I suspect they will start asking for quarterly installments from us once we see that we have been collecting all that juicy interest on their money.

If you haven't already check out Mrs Micah's baby she recently launched The Finwickian - a wiki for personal finance bloggers. Great stuff!

4 Comments:

  1. nancy (aka money coach) said...
    high fives to you, woolywoman, on the continued success on the debt pay-off front. It's truly impressive. Thanks to for pointing to Finwickian - I can't wait to dive into it.
    Have a great weekend (and don't be toooo sporadic in your posts, ok? And btw, I'll have my own little announcement to make on my Monday post next week).
    Mrs. Micah said...
    $20,000 in a year is phenomenal an very inspirational. I don't quite understand the taxes thing, but it sounds like you've got it under control.

    Thanks for mentioning my baby!
    Anonymous said...
    Great job on paying down your debt. It sounds as if you are on the right track. I really despise tax time, but i have an accountant do it all. I am a SAHM and my husband is an OTR drive and we farm a little. We pay quarterly taxes, and even though it stinks, i would hate to come up with the large amount all at one time.
    Good luck on your journey.
    Canadian Saver said...
    Wow, you really got serious about the debt repayment, didn't you?! Great job!!

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