Just finished the final steps on my tax return for 2007. In the end it turned out to be the almost perfect tax return in regards to much I owe or how much I receive as a refund. I owe less than $80.00 in federal taxes and I will receive somewhere around the same back as a refund from the State of Colorado. There will be a time difference between paying my taxes (tomorrow) and until I receive my tax refund from Colorado’s Department of Revenue (~6 weeks or so). I am so glad this tedious task of filing my taxes is done. I used TurboTax to prepare my tax return and then spend the $17.95 fees with them to eFile my tax return. This is the very first I am doing that eFile thing. It is actually pretty convenient not having to deal with all the paper or different websites and doing it right out of TurboTax.

Late December I signed up for the Federal program to be able to make estimated tax payments electronically. I have not yet used this program, but probably will start doing so by entering the 3rd quarter (depending on how business develops). At the same time I might go and use an accountant to outsource my business paperwork and the tax filing. Not sure yet about this. When I started my business everything was designed to be simple and I am sticking to that as much as possible. I avoid certain things because they make running a business complicated and increase my administrative tasks more than what I want to do. Yes, it will mean I might make less money, but I like “simple” when it comes to those things. “KISS – Keep it simple, stupid” is not a bad way of doing things in my opinion.