Thanks to those of you who asked, My neck is feeling better. Seriously, I went to shake/flip my hair out of my face one slightly windy day and put my neck in spasm.
I have all my tax documents in a folder. All I have left to do is go over my mileage logs and double check my "office supply" receipts and then I can sit down and do my taxes. I think I will either owe a small amount or get back a small amount. I'd of course, love to get back a large amount and not owe anything, but don't think that's in the plans. I keep good records, but this past year I started using a program called Neat Receipts. It's a program that scans in your receipts, keeps a running total on your expenses and makes up expense reports if you need them. The nice part is I can print out my expenses and then plug in those numbers to my tax forms. It does have the capability to import the data to Quicken as well. I'm sure the more organized amongst you have spiffy excel spreadsheets with all those columns and fields and diligently scan all your documents. I'm not that excel proficient nor do I diligently scan. The nice thing with this program is it saves me the step of inputting the data in a spreadsheet. I have a pile of 2010 receipts to input, I’m slowly learning better paper management!
This year I think I will actually touch base with a CPA or some other person to find out the best way to pay myself via my LLC. I'm filing out a Schedule C, but I do have a "company" that I "own" listed with state as an LLC and want to make sure that in the future, I put this part-time 1099 income through the LLC and then pay myself. I have no idea if it will be a tax advantage for me or what, but time to talk to a professional once the tax crunch is over.
Monday, February 22, 2010
Wednesday, February 17, 2010
Getting Ready to Do My Taxes
And I am soo behind schedule. By this time last year I had them e-filed and was awaiting my refund. This year I am just getting all my paperwork together. I got all my forms in one pile, I've scanned in the last of my reciepts, I've got a list of things I will need to do my taxes. I'm planning to take a weekend off (I really need a weekend off) from my part time job and will take a day to do my taxes. I have my W2's, my 1099's, and all those little forms one needs. I'd like to get my taxes done so I can start thinking about my home improvement loan process.
Not helping matters is a pinched nerve in my neck. One bad hair flip and I'm in agony and pain. Yikes. I feel twice my age.
Not helping matters is a pinched nerve in my neck. One bad hair flip and I'm in agony and pain. Yikes. I feel twice my age.
Wednesday, February 3, 2010
The House Repair List
As promised the work list for my little house,
1) New clapboard siding, rehang gutters
2) New windows (10).
3) Retile bathroom
4) New flooring in entire house
5) Kitchen, fix warped floor, fix damaged dry wall behind water heater, new cabinets and counter tops, perhaps new appliances (cooktop and wall oven to replace range). New floor-
6) Research replacing tank hot water heater with an on demand one-How to best install
7) Upgrade electrical to 200 amp service and upgrade power head coming into the house.
8) New supports for enclosed porch, fix damaged floor boards.
9) New doors interior and exterior.
10) Replace old insulation in crawl space and attic
11) Talk to contractor about removing old unused chimeny from side of house.
12) Fix Stone step to back door.
13) Painting as needed.
The only thing on this list I can do is paint. The rest is out of my league.
1) New clapboard siding, rehang gutters
2) New windows (10).
3) Retile bathroom
4) New flooring in entire house
5) Kitchen, fix warped floor, fix damaged dry wall behind water heater, new cabinets and counter tops, perhaps new appliances (cooktop and wall oven to replace range). New floor-
6) Research replacing tank hot water heater with an on demand one-How to best install
7) Upgrade electrical to 200 amp service and upgrade power head coming into the house.
8) New supports for enclosed porch, fix damaged floor boards.
9) New doors interior and exterior.
10) Replace old insulation in crawl space and attic
11) Talk to contractor about removing old unused chimeny from side of house.
12) Fix Stone step to back door.
13) Painting as needed.
The only thing on this list I can do is paint. The rest is out of my league.
Monday, February 1, 2010
I Really Can't Make This Stuff Up
Just to give you an idea as to what I've been dealing with for the month of January and why I've been not blogging as much as I would like. Individually, not a big deal, but all together one after another, just plain tiring. So here goes!
Pets: Those of you who have been reading my blog know that I have been taking care of a dog that belonged to my deceased elderly friend. I still have this dog and I really want to find her a home. One my older pets does not get along with her and it's tiresome keeping them separate. The rescue service she is registered with is going through yet another administrative change. This pet has a few health issues and it makes her harder to adopt out. It's like she gets pushed to the bottom of the list since she is in a "good foster home" as they call me. Next time someone asks me to "help" with an animal, I'm saying no. Not trying to be pet unfriendly, but I've been stuck with this dog for almost 18 months, when it was supposed to be short term. Elderly friends estate is no help, because there really is no one. I tend to think with my heart and not my head.
Work: My boss has been penny wise and pound foolish. He has spent about 10 hours of his time trying to find someone who can repair an old printer we have. The printer is about 8 years old, it was a refurbished model when the office bought it. It's not in production anymore and the parts are a bit pricey. Plus, almost without exception, every repair company I've found charges close to $120 per hour to do work, some charge travel as well. My boss is positive he can find the parts for the machine and we can do it ourselves (we can't). We have a second color laser printer that needs both a black drum and color drum, both parts just slide in/slide out, but cost around $600. This will probably give us at least another 2 years of excellent service. We do a lot of in house color work, we need a working printer. My boss's mantra is "we can find it cheaper, I know we can". At some point, you have to just retire the old electronics or pay the price for the parts to get the newer ones working. I am fully aware we are operating on a budget, but spending money on old outdated equipment that keeps dying is just plain foolish. Don't get me started on the toner research either or the fact each time I come in on Mondays my desk supplies are slowly getting pilfered while I'm out of the office. I don't share well and this irks me.....
We have also decided to hire a new consultant and my boss said while he thinks she would be a good fit, he wanted me to talk to her about the color of her purse (it was shocking pink) and how she should not bring it out when she goes to see clients. Ah, I don't think I can do that, we don't have an official dress code and we certainly don't have a color dress code, official or otherwise. He had already given her the office policy manual to read prior to the job offer, so she has this all in writing already. If he objected to the color of her handbag, he should have not offered her the job.
FHA Mortgage Research: By talking to other real estate brokers, I found a mortgage broker who specializes in FHA loans and FHA refinance loans. She and most of her office have a good reputation. I met with her a couple weeks ago, explained my situation (BK and all) and told her that once I did my 2009 taxes, I was interested in trying to do the FHA rehab loan for the house. I came prepared with a list of repairs and a list of contractors that I would be contacting. I also asked what other information she would need. We agreed to meet again last week to start the paperwork and for her to go over some financials and figures with me. We agreed to not pull a credit report until I had done the 2009 taxes and gotten all my paperwork in order. I call the office last week to set up a second meeting only to find that the broker I was talking to had eloped. Yup, eloped and is probably gone for good. The "new" broker assigned to my loan is someone I was warned to avoid, so I made sure both in writing and by phone that I was suspending all action on my loan until further notice. The "new" broker is a man who had been in banking, got laid off post 9-11 and while he may know finance, does not know or do mortgages well. I've heard enough horror stories on deals crashing to make sure I avoid him like the plague.
Weekend Job: My weekend job has been ultra busy, my job duties have changed a bit as the facility did a much needed assessment of how best to use the staff we have. I'm fine with the job changes, I took on some new duties, and dropped some others and we are working better as a facilitynow that we have adapted to our new rolls, it took a couple weeks to get the wheels in motion. My weekend boss is heading south for a while with both clients and horses to take advantage of the non cold and non snow weather. He did not do this last year, but is opting to do the "southern circuit" this year. We do have working at the facility, yet another very talented rider, but very young and insecure person trying to make it as a trainer/instructor. Alas they don't have the communication skills or the people skills (yet) to teach or to deal with the staff. And almost without exception these very talented, yet insecure people tend to be "on a high horse" and not nice to us "underlings" at the barn. I've dealt with this prima donna attitude enough to deal with it, but it does get tiring. It just makes my job a bit more irksome when it does not need to be irksome. Plus I was told this past weekend that since I was only "the groom" and "barn baby sitter" that I really knew nothing about the equine business or equine management. This from someone who still lives at home with mummy and daddy, is just of legal drinking age and has never had any kind of management experience at all. I looked at them, leaned on my broom and said, "Did you fall off of a horse, hit your head and not tell us, 'cause you are really talking about something you know nothing about!" When the big boss is away, the assistants sometimes think they are the big boss.
Social Life~I may be 40 some odd years old, but... I got dressed to go out to dinner the other night with a group of friends. I was really looking forward to it, a bunch of us had not gone out for ages. Plus we had a new male addition to the group. Like any slightly vain person, I wanted to make sure I looked good. Clean clothes, clean hair, but what the freak is in the middle of my nose? Yes smack dab on the end of my nose right in the middle was a zit. When I went to touch it, it popped and I then had a large red spot on the end of my nose. Plus since I was at the weekend job, I did not have any cover up with me. I'm not a big make up person to begin with and what few basic make up items I have are home. I walked around the house swearing and looking for something to use to soothe the spot. Gwad I felt like I was 17 and going to a dance..
I will end this post with some good news. I actually have my first real real estate client in over a year. We are in good negotiations for a piece of land, clean deal, no contingencies; we are just coming together on price. So I'm looking forward to a nice end of February with a nice commission!
How has your month been?
Pets: Those of you who have been reading my blog know that I have been taking care of a dog that belonged to my deceased elderly friend. I still have this dog and I really want to find her a home. One my older pets does not get along with her and it's tiresome keeping them separate. The rescue service she is registered with is going through yet another administrative change. This pet has a few health issues and it makes her harder to adopt out. It's like she gets pushed to the bottom of the list since she is in a "good foster home" as they call me. Next time someone asks me to "help" with an animal, I'm saying no. Not trying to be pet unfriendly, but I've been stuck with this dog for almost 18 months, when it was supposed to be short term. Elderly friends estate is no help, because there really is no one. I tend to think with my heart and not my head.
Work: My boss has been penny wise and pound foolish. He has spent about 10 hours of his time trying to find someone who can repair an old printer we have. The printer is about 8 years old, it was a refurbished model when the office bought it. It's not in production anymore and the parts are a bit pricey. Plus, almost without exception, every repair company I've found charges close to $120 per hour to do work, some charge travel as well. My boss is positive he can find the parts for the machine and we can do it ourselves (we can't). We have a second color laser printer that needs both a black drum and color drum, both parts just slide in/slide out, but cost around $600. This will probably give us at least another 2 years of excellent service. We do a lot of in house color work, we need a working printer. My boss's mantra is "we can find it cheaper, I know we can". At some point, you have to just retire the old electronics or pay the price for the parts to get the newer ones working. I am fully aware we are operating on a budget, but spending money on old outdated equipment that keeps dying is just plain foolish. Don't get me started on the toner research either or the fact each time I come in on Mondays my desk supplies are slowly getting pilfered while I'm out of the office. I don't share well and this irks me.....
We have also decided to hire a new consultant and my boss said while he thinks she would be a good fit, he wanted me to talk to her about the color of her purse (it was shocking pink) and how she should not bring it out when she goes to see clients. Ah, I don't think I can do that, we don't have an official dress code and we certainly don't have a color dress code, official or otherwise. He had already given her the office policy manual to read prior to the job offer, so she has this all in writing already. If he objected to the color of her handbag, he should have not offered her the job.
FHA Mortgage Research: By talking to other real estate brokers, I found a mortgage broker who specializes in FHA loans and FHA refinance loans. She and most of her office have a good reputation. I met with her a couple weeks ago, explained my situation (BK and all) and told her that once I did my 2009 taxes, I was interested in trying to do the FHA rehab loan for the house. I came prepared with a list of repairs and a list of contractors that I would be contacting. I also asked what other information she would need. We agreed to meet again last week to start the paperwork and for her to go over some financials and figures with me. We agreed to not pull a credit report until I had done the 2009 taxes and gotten all my paperwork in order. I call the office last week to set up a second meeting only to find that the broker I was talking to had eloped. Yup, eloped and is probably gone for good. The "new" broker assigned to my loan is someone I was warned to avoid, so I made sure both in writing and by phone that I was suspending all action on my loan until further notice. The "new" broker is a man who had been in banking, got laid off post 9-11 and while he may know finance, does not know or do mortgages well. I've heard enough horror stories on deals crashing to make sure I avoid him like the plague.
Weekend Job: My weekend job has been ultra busy, my job duties have changed a bit as the facility did a much needed assessment of how best to use the staff we have. I'm fine with the job changes, I took on some new duties, and dropped some others and we are working better as a facilitynow that we have adapted to our new rolls, it took a couple weeks to get the wheels in motion. My weekend boss is heading south for a while with both clients and horses to take advantage of the non cold and non snow weather. He did not do this last year, but is opting to do the "southern circuit" this year. We do have working at the facility, yet another very talented rider, but very young and insecure person trying to make it as a trainer/instructor. Alas they don't have the communication skills or the people skills (yet) to teach or to deal with the staff. And almost without exception these very talented, yet insecure people tend to be "on a high horse" and not nice to us "underlings" at the barn. I've dealt with this prima donna attitude enough to deal with it, but it does get tiring. It just makes my job a bit more irksome when it does not need to be irksome. Plus I was told this past weekend that since I was only "the groom" and "barn baby sitter" that I really knew nothing about the equine business or equine management. This from someone who still lives at home with mummy and daddy, is just of legal drinking age and has never had any kind of management experience at all. I looked at them, leaned on my broom and said, "Did you fall off of a horse, hit your head and not tell us, 'cause you are really talking about something you know nothing about!" When the big boss is away, the assistants sometimes think they are the big boss.
Social Life~I may be 40 some odd years old, but... I got dressed to go out to dinner the other night with a group of friends. I was really looking forward to it, a bunch of us had not gone out for ages. Plus we had a new male addition to the group. Like any slightly vain person, I wanted to make sure I looked good. Clean clothes, clean hair, but what the freak is in the middle of my nose? Yes smack dab on the end of my nose right in the middle was a zit. When I went to touch it, it popped and I then had a large red spot on the end of my nose. Plus since I was at the weekend job, I did not have any cover up with me. I'm not a big make up person to begin with and what few basic make up items I have are home. I walked around the house swearing and looking for something to use to soothe the spot. Gwad I felt like I was 17 and going to a dance..
I will end this post with some good news. I actually have my first real real estate client in over a year. We are in good negotiations for a piece of land, clean deal, no contingencies; we are just coming together on price. So I'm looking forward to a nice end of February with a nice commission!
How has your month been?
Thursday, January 14, 2010
Blog Roll Updates
I did a mini blog roll clean up, I deleted some blogs that have not been updated in a long time or those that have gone bye-bye. Single Ma/Fabulous Financials, I will miss you! I still have to add in a few new ones that I've been promising or meaning to do for a while. I'm taking my laptop with me this weekend, so I hope to actually work a bit on my blog instead of another project!
Tuesday, January 12, 2010
A New Years Resolution
In general, I find (like so many people) that I often fall short of my New Year's Resolutions. Most years I don't make a specific resolution, I find I do much better with an on going goal list. I seem to do much better with a "goal list" as compared to a "New Year's Resolution list". This year it's going to be a bit different.
If you've been following my blog, you know I live in a very small house that needs a lot of work, work that I am just not capable of doing in a DIY fashion and work that costs big $$$. I've spent the better part of the past month taking a good long look at my house and making up a punch list of work that has to be done, work that should be done and the cosmetic work I'd like to do. The punch list is long and lengthy. So much so that it almost drove me to drink an entire bottle of wine because it depressed me sooo much. When I bought my little house, I honestly did not think I'd still be living in it, now almost 10 years later. I figured I'd sell it and move up, or rent it out and move to a new place. Ah yes, the grand plans one has. I underestimated the work that needed to be done and the cost of the work, and I overestimated my DIY skills.
I really would like for some DIY show to come and rescue me and my home, do the work, I can help, I'm actually a very good assistant and feature me on one of their programs. Hey I'd go public with my real identity if that were the case~can we say lovely small home done over in a "green" renovation. I think it would make a great HGTV show.
So after thinking about this long and hard, and doing some research my goal this year is to see if I can qualify for an FHA refinance/rehab loan. Based on the worksheets from a number of FHA lenders and the FHA itself, even with the Bankruptcy in my past, I may be able to qualify for a loan.
What I have going for me is the following. My house in not underwater based on the current market and where I live (thank goodness). My outstanding debt consists of my car loan and I'm in the home stretch on the last of my student loans (like it should be paid off by December of this year), my credit card does not carry a balance, I only use the card once or twice a month for gas or the odd purchase. I have not been late on any payments since I started the Bankruptcy filing and my mortgage has always been current. What is not in my favor is the Bankruptcy discharge (now 2 years old!), my reduced income from my "full time job", and the fact it may be hard to find good current house comps on my small home. I will get a 1099 from the weekend job which may help to offset the reduction in income from the weekday job.
You may ask in astonishment, But Betty, why do you want to take on more debt? Simply, I want to be able to move to a house that is a bit bigger and in better shape than this one. In order for me to sell it and not take a massive hit, I do have some repairs that must be done. Even if I decide to stay in this house, it needs work. As I stated above, I don’t have the DIY skills for those necessary repairs. Houses, especially older ones, need repairs and maintenance. I’ll put up a post later about the list of repairs that I’ve come up with.
Part of the bouncing back from Bankruptcy was also to see if I can qualify for credit again without paying astronomical interest rates. I’m not overly thrilled with my car interest rate, but it was the price I had to pay to get a car so soon after the BK was discharged. I will let you know how the process goes. I plan on starting the process in earnest once I do my 2009 taxes, which will be the beginning of February and I’d love to hear your thoughts, good, bad and indifferent.
If you've been following my blog, you know I live in a very small house that needs a lot of work, work that I am just not capable of doing in a DIY fashion and work that costs big $$$. I've spent the better part of the past month taking a good long look at my house and making up a punch list of work that has to be done, work that should be done and the cosmetic work I'd like to do. The punch list is long and lengthy. So much so that it almost drove me to drink an entire bottle of wine because it depressed me sooo much. When I bought my little house, I honestly did not think I'd still be living in it, now almost 10 years later. I figured I'd sell it and move up, or rent it out and move to a new place. Ah yes, the grand plans one has. I underestimated the work that needed to be done and the cost of the work, and I overestimated my DIY skills.
I really would like for some DIY show to come and rescue me and my home, do the work, I can help, I'm actually a very good assistant and feature me on one of their programs. Hey I'd go public with my real identity if that were the case~can we say lovely small home done over in a "green" renovation. I think it would make a great HGTV show.
So after thinking about this long and hard, and doing some research my goal this year is to see if I can qualify for an FHA refinance/rehab loan. Based on the worksheets from a number of FHA lenders and the FHA itself, even with the Bankruptcy in my past, I may be able to qualify for a loan.
What I have going for me is the following. My house in not underwater based on the current market and where I live (thank goodness). My outstanding debt consists of my car loan and I'm in the home stretch on the last of my student loans (like it should be paid off by December of this year), my credit card does not carry a balance, I only use the card once or twice a month for gas or the odd purchase. I have not been late on any payments since I started the Bankruptcy filing and my mortgage has always been current. What is not in my favor is the Bankruptcy discharge (now 2 years old!), my reduced income from my "full time job", and the fact it may be hard to find good current house comps on my small home. I will get a 1099 from the weekend job which may help to offset the reduction in income from the weekday job.
You may ask in astonishment, But Betty, why do you want to take on more debt? Simply, I want to be able to move to a house that is a bit bigger and in better shape than this one. In order for me to sell it and not take a massive hit, I do have some repairs that must be done. Even if I decide to stay in this house, it needs work. As I stated above, I don’t have the DIY skills for those necessary repairs. Houses, especially older ones, need repairs and maintenance. I’ll put up a post later about the list of repairs that I’ve come up with.
Part of the bouncing back from Bankruptcy was also to see if I can qualify for credit again without paying astronomical interest rates. I’m not overly thrilled with my car interest rate, but it was the price I had to pay to get a car so soon after the BK was discharged. I will let you know how the process goes. I plan on starting the process in earnest once I do my 2009 taxes, which will be the beginning of February and I’d love to hear your thoughts, good, bad and indifferent.
Monday, January 4, 2010
Starting the New Year On A Good Foot
My trip to IKEA was very productive. I spent a total of $169 ($9 over my limit) for my new bookcase, some kitchen storage containers and items and some unscented candles. The only purchase not on my list was a small stock pot. I need one at the weekend job, the kitchen there does not have one, so I purchased a pot of $29.99. I had been doing a search of Marshalls and TJ Maxx for cooking pots, but the selection has been limited. this pot is a good size for making some soup, stew or just even boiling water for pasta. I got to IKEA early, whipped through the store to get the items on my list, paid for them, then put them in my car. I then came back to the store, spent some time looking for design ideas, pricing and testing out new couches. I did what one is supposed to do when testing out a new couch. I took off my shoes and flopped on each couch. I stretched out, I sat up, I did all the body positions I would normally do at home. I got a lot of strange looks from other shoppers as I tested out the various pieces of furniture. I did not mind one bit. A couch purchase is not on my radar for at least 6 months, but I wanted to get an idea of size, style and price so I can budget/save for a couch.
I will say that IKEA seems to be making better quality furniture. I'm really pleased with my bookshelf. It was easy to put together. I did check out the local unfinished furniture store and they had a similar bookcase for more than twice the price. My IKEA book case is laquered pine and will work just fine in my abode. I will spend a couple nights this week organizing the books I want to keep and purging the rest. I like being able to go to the bookshelf and picking out an old favorite book to re-read. The bookshelf I was replacing at home was also made by IKEA, but it was one of those particle board ones. It was showing it's age (13 years) and starting to fall apart. The updated version at IKEA looked to be of better quality, so it's good to see that IKEA is still making inexpensive furniture that is durable instead of expendable.
The other awesome start was finding two pairs of jeans on sale on new years day. I have a couple pairs of jeans that I wear every weekend at the barn. They are the designated barn jeans. They are at least 3 years old. One pair is so frayed and now badly split that it was not worth the time for me to sew or iron on patches. The other pair I was able to patch. I did go into a store and by chance checked out the women's jean section. I snagged two pairs of jeans for $25. Both were drastically marked down. One was a "quality irregular" and try as I migh to find the "irregular" I could not and the other was just at 75% off. Both pairs are in good shape and fit me well. That was a nice unexpected surprise and I purchased both pairs.
I did a clothes inventory of my closet and it revealed that I'm in very good shape for work and play clothes. I've lucked out the past few shopping trips and have been able to restock my wardrobe with several quality pieces at decent prices. As far as I can tell, future clothing purchases will be limited to things like socks, underwear, and a couple pairs of shorts for the summer.
Hoping you had a very nice New Years!
I will say that IKEA seems to be making better quality furniture. I'm really pleased with my bookshelf. It was easy to put together. I did check out the local unfinished furniture store and they had a similar bookcase for more than twice the price. My IKEA book case is laquered pine and will work just fine in my abode. I will spend a couple nights this week organizing the books I want to keep and purging the rest. I like being able to go to the bookshelf and picking out an old favorite book to re-read. The bookshelf I was replacing at home was also made by IKEA, but it was one of those particle board ones. It was showing it's age (13 years) and starting to fall apart. The updated version at IKEA looked to be of better quality, so it's good to see that IKEA is still making inexpensive furniture that is durable instead of expendable.
The other awesome start was finding two pairs of jeans on sale on new years day. I have a couple pairs of jeans that I wear every weekend at the barn. They are the designated barn jeans. They are at least 3 years old. One pair is so frayed and now badly split that it was not worth the time for me to sew or iron on patches. The other pair I was able to patch. I did go into a store and by chance checked out the women's jean section. I snagged two pairs of jeans for $25. Both were drastically marked down. One was a "quality irregular" and try as I migh to find the "irregular" I could not and the other was just at 75% off. Both pairs are in good shape and fit me well. That was a nice unexpected surprise and I purchased both pairs.
I did a clothes inventory of my closet and it revealed that I'm in very good shape for work and play clothes. I've lucked out the past few shopping trips and have been able to restock my wardrobe with several quality pieces at decent prices. As far as I can tell, future clothing purchases will be limited to things like socks, underwear, and a couple pairs of shorts for the summer.
Hoping you had a very nice New Years!
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