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April 15 fun as a business owner
I just finished the annual task that most people dread - and thanks to my business turning a modest profit in 2007, this year I'm getting hit with the full brunt of what April 15 brings. Not only has a massive payment just gone to the IRS and to the state (I'm in a shocked daze looking at it), but I'll also owe a fourth of that amount every quarter this year in estimated taxes - the first installment of which is due on the 15th of next month. I'm also getting a visit from the city's tax office for B&O taxes and user fees next week. Quite a major financial hit - one that I knew was coming, but was surprised at exactly how large it turned out to be.
As with everything I've lived through on this earth, the Lord provides. I am receiving a check in a week or two for a large sale I made last year that will cover everything. Talk about miraculous provision and timing (nothing new for God, in my experience). My observing activites will take a major hit this spring as a result of the unexpected magnitude of this expense, as all of my travel funds for the season are gone! Looks like April will be a month to try to recover the observing 'piggy bank' with some tried-and-true web design overtime. Another divine provision that I have a flexible 'day job' that I can put the hammer down on the pace/number of contracts when needed.
Running a business has definately been a learning experience. Hopefully there won't be too many more surprises like this!