The taxman cometh

This week began with a bit of jolt that set not only the tone, but dictated my actions for much of the next few days that would follow. While opening my mail on Monday, I was greeted with one of those letters that we all know and likely dread, with an official government stamp and no-nonsense brown kraft paper envelope.

Rarely harbingers of good news, said letter informed me that I was not just due to file my PST (the provincial sales tax collected on sales to my fellow British Columbians), but that it was overdue. This came as a substantial surprise to me, because a.) I genuinely believed based on a telephone conversation I had last year with a government phone line staff member when I set up my PST account that it was not due until the first anniversary of that date (in the spring) and 2.) because I hadn't received any kind of notice that it was due, when it was in fact actually due (earlier this year).

If there's one thing you should know about me, it's that I pride myself on being extremely professional and equally punctual, so the fact that this had happened - I'm not pointing fingers at you, Government. Nope, I'd never do that ;) - ruffled my feathers big time.

Moreover, it meant that I suddenly had to get all my business accounting in order a much shorter time frame than I’d been thinking for most of the past year that I would have to work with. This meant getting all my digital business information, paperwork, receipts and the like up-to-date (well, up to the end of 2014, but I figured why not just tack the last couple of months on, too, and be properly up-to-date entirely) in less than a week or face, as the rather unfriendly letter gingerly threaded, receiving a Notice of Assessment.

{It's officially that time of the year again. Vintage image source}

 


I don't say this often, but ugh!!! Out the window went every last plan of post writing, Etsy shop listing, Easter outfit daydreaming (said major spring holiday being less than a month away at this point), and even sleep some nights, and instead I plowed through, with no shortage of curveballs along the way, to get everything in order and sent to our (mine + Tony's) accountant so that she could file my PST (and since all was up to speed, the rest of the things pertaining to my business taxes for 2014 as well).

Many lessons learned, which is a good thing. Yes, my lovelies, a good thing, because no one is expected to know everything about small business ownership and taxes in their first year (of which this is mine). I'll happily take a Band-Aid approach to baptism by fire anytime and definitely know what to do differently for next year. Drained as a beer keg at a frat party I may be after such a long week of accounting work (et al), I may be, it was an important reminder to always double check your facts and dates when dealing with the government and to try and stay on top of my business record keeping better in 2015.

Now, to just get through our personal income taxes a touch later in the spring and we should be done there. Would a second "ugh" be overkill? ;D