Hubby & I always dread 30 June every year. Why?
Because it is the deadline to submit our Income Tax.
And because we are self-employed, our income don't get deducted every month by our employers. Which means that on 30 June every year, we would tabulate our income and expenses, and suddenly the amount will hit us in the face. Shit....we are going to pay this huge stack of notes to the government?
And I am always the one who have to sort out all the receipts, credit card statement, payslips, etc. That is the most difficult part of the whole thing. Sorting.
After sorting, hubby would then tabulate all the numbers in the Borang B.
This is how I keep all these papers (we've to keep them for 7 years...ridiculous!), all punched with a hole and tied with a string according to categories.
Guess what? We spent about RM9k on books in 2010. Wow, did we really spend that much on books? Well, the receipts say so.
And this year was the first year we started using e-Filing. Yeah, we are late-bloomers. :P