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[B60]Back To Reality Back To Life

by Amber Rosenberg, Amb

Lately, I've been observing what happens when I find myself in this undesirable place. I noticed that when I start to feel overwhelmed, I go to great lengths to check off 'just one more thing' from my to-do list. While this short burst of frenzied activity allows me to accomplish one thing, by the time I get to the second item, I'm totally exhausted.

So, I decided to try an experiment. For the last week, I tried to give into this stuck feeling; to surrender to it and to see what happens. When I slowed down, I noticed that the culprit was often unrealistic expectations of myself and my time.

When I started to have these unrealistic expectations of myself, it became easy to lose sight of why I committed to doing something in the first place. Once I became disconnected from the meaning behind my actions, it was easy to lose motivation. Losing motivation for one thing quickly snowballed into losing motivation for another thing, which contributed to an ever-growing to-do list and, eventually feeling overwhelmed.

Instead of giving into this frenzy, I decided to take some time to re-connect with what's important to me - exercise, meditation, laughter and fun. Now I'm in the process of figuring out how to incorporate these into my everyday life.

So, when you're overwhelmed, instead of trying to get as much done as quickly as you can, try slowing down to get re-connected with the meaning behind your actions. Try a few of these exercises to help you slow down:

1) As often as possible, stop for a moment and take several deep, relaxing breaths.

2) Do something that you used to do as a child. Run through a sprinkler, swing on a swing-set or draw a picture.

3) Go outdoors for as long as it takes get perspective. Take time to notice the details of nature ? look up at the clouds, smell the grass, snow or rain and feel the fresh air on your skin.

4) Run up and down your stairs or do some jumping jacks or push-ups for 10 minutes. Explore how getting out of your mind and into your body helps you to feel both calm and energized.

5) Watch a funny movie or read a funny book. Laughter provides perspective and makes everything feel more manageable.
Spend a week trying these exercises and then look for patterns.

What do you notice? What are you learning? What is possible from here?

Write down what you learned or share it with your coach.

The next time you're feeling overwhelmed, try letting go of your expectations and measuring your accomplishments. Instead, focus on slowing down and re-connecting with what energizes and feeds you. When you're connected with your values and the guiding principles of your life, you're connected to the natural fuel for getting things done.

Over the next four months there are several key dates that you dare not forget! Here they are -- all in one place, along with links to the IRS website PDF file for that particular form, where appropriate.

NOTE: This article only addresses federal tax deadlines. Be sure to contact your state's tax department for their due dates.

Also, the calendar is adjusted for Saturdays, Sundays and federal holidays, because if a due date falls on a Saturday, Sunday, or federal holiday, then the due date is moved to the next business day.

JANUARY:

Tuesday, Jan. 17

Personal
If you pay quarterly estimated income tax payments,
it's time to make the fourth-quarter payment for 2005
via Form 1040-ES.
http://www.irs.gov/pub/irs-pdf/f1040es.pdf

Business
If you have employees, you must make the federal payroll
tax payment for December 2005 by today (assuming you are
on the monthly deposit schedule).

You use Form 8109 (found in the little yellow coupon
book) or the IRS Electronic Federal Tax Payment System
(EFTPS).

Tuesday, Jan. 31

Business
4th quarter and year-end 2005 payroll tax returns are due by January 31, 2006.

Here's an overview of the 4 most common federal payroll-related forms due today:

1. Form W-2 (for your employees) http://www.irs.gov/pub/irs-pdf/fw2.pdf

If you mail the W-2's, the postmark must be on or before January 31, 2006.

You may also be a recipient of a W-2 (if you work as an employee for someone else), so don't give your employer a hard time unless the W-2 is postmarked, or delivered in person, later than January 31.

2. Form 941 (for payroll tax) http://www.irs.gov/pub/irs-pdf/f941.pdf

3. Form 940 (for unemployment tax) http://www.irs.gov/pub/irs-pdf/f940.pdf

4. Form 1099-MISC
If you paid any independent contractors at least $600 in 2005, you must send each one a 1099 by January 31. http://www.irs.gov/pub/irs-pdf/f1099msc.pdf

Tip: if the independent contractor is a corporation, you usually don't have to issue a 1099. The main purpose of the 1099 is to track payments to Sole Proprietors, i.e. unincorporated self-employed people.

FEBRUARY:

Wednesday, Feb. 15
If you have employees, you must make the federal payroll tax payment for January 2006 by today (assuming you are on the monthly deposit schedule).

Tuesday, February 28
If you prepared any W-2's or 1099's (mentioned above), today is the deadline for sending a copy of those forms to the IRS.

Form W-3 is sent to the Social Security Administration, along with Copy A of any Forms W-2 you issued. http://www.irs.gov/pub/irs-pdf/fw3.pdf

Form 1096 is sent to the IRS, along with Copy A of any Forms 1099-MISC you issued. http://www.irs.gov/pub/irs-pdf/f1096_04.pdf

Business

Wednesday, March 15
Today is a big day if your business is a corporation.

Form 1120 -- the annual corporate income tax return for regular "C" corporations. http://www.irs.gov/pub/irs-pdf/f1120.pdf

Form 1120S -- the annual corporate income tax return for "S" corporations. http://www.irs.gov/pub/irs-pdf/f1120s.pdf

Form 7004 -- if you can't file Form 1120 or 1120S by today, here's a tip: just file Form 7004 by
March 15 and you are granted an automatic, no-questions-asked 6-month extension of time to file the return (i.e. until Sept. 15, 2006) http://www.irs.gov/pub/irs-pdf/f7004.pdf

Form 2553 -- if you want your corporation to be treated like an "S" corporation for the first time, today is the deadline for telling the IRS that you want to be an "S" corp beginning with calendar year 2006. http://www.irs.gov/pub/irs-pdf/f2553.pdf

Also, If you have employees, you must make the federal payroll tax payment for February 2006 by today (assuming you are on the monthly deposit schedule).

Monday, April 17
Ah, yes, the most famous tax deadline of all.

Form 1040
http://www.irs.gov/pub/irs-pdf/f1040.pdf

And if you are a Sole Proprietor, don't forget that you must file several business-related tax forms with your Form 1040. The most commonly used tax forms for the self-employed person include:

Schedule C (to report your business income and expenses) http://www.irs.gov/pub/irs-pdf/f1040sc.pdf

Schedule SE (for self-employment tax) http://www.irs.gov/pub/irs-pdf/f1040sse.pdf

Form 4562 (to deduct equipment and other depreciable property) http://www.irs.gov/pub/irs-pdf/f4562.pdf

Form 8829 (to deduct a home office) http://www.irs.gov/pub/irs-pdf/f8829.pdf

Need more time to prepare your personal tax return? Go no further than Form 4868, which grants an automatic no-questions-asked 4-month extension to file the return. http://www.irs.gov/pub/irs-pdf/f4868.pdf

NOTE: this is only an extension of time to file the return, not an extension to pay any tax due. So if you think you might owe, it may be wise to estimate what you owe and send in a payment with Form 4868; otherwise you may have to pay extra in late payment penalties and interest.

Form 1065
If your business is a Partnership or Limited Liability Company (LLC), today is also your lucky day to file the annual business income tax return -- via Form 1065. http://www.irs.gov/pub/irs-pdf/f1065.pdf

Form 8736
To get an automatic 3-month extension of time to file Form 1065, file Form 8736 on or before April 17. http://www.irs.gov/pub/irs-pdf/f8736.pdf

As if April 17 wasn't already painful enough, it's also the deadline for the first quarter estimated tax payment for Year 2006:

Personal -- Form 1040-ES. http://www.irs.gov/pub/irs-pdf/f1040es.pdf

Corporate -- Form 1120-W
http://www.irs.gov/pub/irs-pdf/f1120w.pdf

And if you're an employer, yup, it's time for yet another monthly federal payroll tax deposit -- for March 2006.

Monday, May 1
Form 941 is due for the 1st quarter 2006. http://www.irs.gov/pub/irs-pdf/f941.pdf

Form 940 federal unemployment tax deposit is due today, if your first quarter liability exceeds $500.

Had enough? OK, OK. I'll stop here.

That should get you through the first four months of the year.

For more tax resources, here's a few more links:

Looking for a federal tax form?
http://www.irs.gov/formspubs/index.html

Looking for a state tax form?
http://taxes.yahoo.com/stateforms.html
http://www.taxadmin.org/fta/link/forms.html

IRS Website for Small Business & the Self-Employed http://www.irs.gov/smallbiz

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About Author

Both Amber Rosenberg & Wayne M. Davies are contributors for EditorialToday. The above articles have been edited for relevancy and timeliness. All write-ups, reviews, tips and guides published by EditorialToday.com and its partners or affiliates are for informational purposes only. They should not be used for any legal or any other type of advice. We do not endorse any author, contributor, writer or article posted by our team.

Amber Rosenberg has sinced written about articles on various topics from Stress Management. AMBER ROSENBERG, Pacific Life Coach empowers adults in relationship, life and career transitions to create the lives they want to live. Clients include entrepreneurs, professionals, single women, moms-to-be and empty-nesters. She is also a popular speak. Amber Rosenberg's top article generates over 22200 views. to your Favourites.

Wayne M. Davies has sinced written about articles on various topics from Stress Management, Advertising Guide and Finances. . Wayne M. Davies's top article generates over 22200 views. to your Favourites.