As I am writing this post, I have three more days off from work before the first working day of 2024. My office is closed from Christmas to the the New Years. However, my time off initially began with a trip to Vegas, followed by a day of work. I will get time off in lieu later but it was nice to have some quiet and uninterrupted time just before the new year starts.
The reason I am writing this post is to hold myself accountable as I have been largely unproductive. While there is nothing wrong with chilling during the holidays, the new year tends to be a busy time for me. I want to get as much prep work done as possible before the new year’s rush.
2023 Taxes
I have been filing my own taxes since I got my first job. My tax situation was as simple as it can get until recent years. Aside from T4 from my corporate job and T5s from unregistered investment (outside of TFSA & RRSP), I now have rental income and business income from jenthinks. I tried to reduce year-end workby keeping good record of receipts and expenses throughout the year. However, the final prepping still takes several hours every year. Even though CRA will not open NETFILE until late February, I prefer to have an idea of where I stand in terms of taxes as we enter the new year anyways. This way, I can plan my final RRSP contribution accordingly to minimize tax payment as well.
To get a rough estimate on taxes owed, I create a mock 2022 return using WealthSimple Tax. Note, tax rates and rules do change annually so the figures I get this way will not be accurate. However, for planning purpose, it is good enough for me. I paid way more CPP & EI than required this year as I changed employer mid-year (your CPP/EI contribution resets with new employer). So I expect the overpayment to offset taxes I will owe for income from jenthinks.
Living Room Curtains
I finally got everything* I need to hang the wall-to-wall floor-to-ceiling sheer curtains for my living room. It has been a loooooong journey. We were going to get all window coverings done when we renovated last year but the project was at budget already (I also decreased our budget a couple of times in favor of investing). I then got quotes from a couple of local window shops and they were came to around $5-6K. I wasn’t able to justify paying that much for curtains so I decided to go the DIY route.
As all DIY projects go for amateurs like us, it took longer than expected. The curtains I got from Urban Barn were a tad bit too short and lower quality than I wanted so we went to IKEA instead. I compared a couple of options and decided to go with their HILJA curtains. Unfortunately, IKEA Canada did not carry the longer length I needed so I had to order them online and picked up in Bellingham after our Vegas trip. IKEA never disappoints – they were much better quality than the Urban Barn ones and cost half as much. They also cost just a fraction compared to the Crate and Barrel one I wanted last year. Granted, the Crate and Barrel one is 100% linen but I do not want the weight anyways (HILJA is 100% polyster). I want the flowy look so the HILJA one is perfect.
*remember I forgot to get more screws as I typed this
House Cleaning & Clothes Purging
We keep the house relatively clean throughout the year but I thought it would be good to clean everywhere at once. There are clutters scattered around which made no sense as we have more than enough storage space. I have a habit of laying things around especially when the item has no designated spot. Eric is much better at this than I am so it is time for me to either put things where they belong or find a place for everything. I believe a clean and organized space contributes positively to mental health. It is extra important for us as we work from home and spend hours in this space.
It is also time for me to sell, donate and/or discard some of my clothes. I have not done that for at least a couple of years and I have accumulated quite a bit since then. Some clothes I have never worn in the last two years (maybe even since I bought them) and some are simply too worn. It is time to make way for new and better clothes.
2023 CPA PD Reporting
Like with taxes, I have been sort of keeping a record of my PD hours throughout the year. Admittedly, I have not done as good of a job with this as with taxes. Since the year is coming to an end and I only have until Janruary 31, 2024 to report (BC members), I thought I will knock this one off my list this weekend as well.
RELATED POST – A List of Free CPA PD Courses for Annual Reporting
Content for jenthinks
Even since I started jenthinks, I have been writing and sharing whatever came to mind. The posts ranged anywhere from personal finance, CPA PEP, career advice to travel. I don’t expect myself to stop doing that but I also want to be more intentional with the direction my blog is going. I want to create content extensively for AI in finance and ways CPAs like myself can leverage AI at work. I love the way AI tools like ChatGPT improve productivity and efficiency. It has been my motto to do more and get paid more with less time. Like many others, I truly believe AI’s potential and its application in finance. So, in order to take jenthinks to the next level, I am going to spend some time planning for 2024.
