Tax season is over for this year. Everybody say ‘Yay!’
Now, I’m saving my receipts for next year’s tax season, including all my receipts for the CEU classes I’m taking for my license renewal.
I always take more CEU classes than I need for license renewal – sometimes two or three times as much. There are so many interesting things to learn out there – new techniques, cutting-edge research, fresh perspectives on the business of massage…
What can you write off to lower your taxes?
Of course, the registration fee is an obvious write-off for business training. But you can use several other CEU-related business expenses to lower your taxes – your gas to get there and back (mileage), your meals with other therapists discussing the massage business, hotel expenses if you’re staying in that city just for the classes, any materials you purchase relative to the class, and more. Most importantly – Save your receipts! And document your miles.
I tend to wait until the last minute to finish my taxes. Last year, I filed an extension. But I found that I just waited until the last minute – again… So, I’ve decided to finish by April 15 every year from now on. And I did just that this year. Yay! And I’m saving up my receipts for next year…AND filing my quarterly estimate payments, so I don’t wind up with a big bill at the next tax season.
Of course, taxes are one of those things – like death and change – that will always be there (unless you’re a large corporation with massive earnings and an army of lawyers and accountants to squeeze through every loophole). The way I look at it – if I’m paying taxes, that’s a good thing! I might not agree with all the ways they spend it, but I do benefit from many of the services provided.
And if I’m paying taxes, that means I’m working – and making money – and contributing to the economy – and staying in the flow of giving and receiving. Always staying in the flow – giving and receiving…