Open When You're Closed

Had a busy day at the office, I'm glad I decided to turn on the phone and put out the "open" sign, even though this was going to be the last Friday we are closed before tax season kicks off for real next week.
I decided since I was here anyway, I might as well make sure I didn't miss anyone.  I had several walk-ins, lots of phone calls, and made half a dozen appointments.

I also managed to finish, finally, the ward historical report for 2010.  I got updates from most of the ward quorums and auxiliaries quarterly throughout the year which was supposed to make this process easier, but then having three computer hard drives fail in four months meant even my backups failed.  Anyway, it's done now, and probably 90% of what I would have liked it to be ... given the circumstances, that's great!

After that I went home to have dinner with Willyne, Josh, Megan, Ethan, Kate, Riley, and Danielle.  It was a great fun, I got lots of hugs and loved it!

After the Beechers went home, I visited my trusted treadmill friend, you can read about that and Willyne's delicious dinner here:
http://terreeeblay.blogspot.com/2011/02/29.html

My tax and money notes for today:  Vehicle Expense - Should I Take Depreciation and Actual Costs ... or Mileage?     Answer ... it depends! What are you using the vehicle for? How many miles are you driving for a tax deductible purpose each year? How much will your miles driven vary from one year to the next? How many years do you plan to keep the vehicle? What is the time value of money to you ... specifically how much more valuable is a tax deduction today than a tax deduction 1, 2, or maybe more years in the future?

Your tax software will give you an answer for this year. If that answer will also work best for you for the remaining years you use the car, you're in good shape. Otherwise, you will want to visit with your tax pro... one that you have picked that will take the time to explore each of these options with you. Be sure to remember that whether you choose to take claim depreciation and actual operating costs, or you choose to use the IRS mileage rate, you are required to continue using that choice for as long as you own and operate that vehicle.
 
To read more, click here:  http://tinyurl.com/4uvwbaz