It’s that time of year. Time to bust out the overflowing boxes of receipts, to dust off that calculator app and put on your Sunday best to visit your local tax office. Although tax season comes around the same time every year, very few are truly prepared when it arrives. Why is that you ask, because finance and taxes are traditionally thought of as confusing, cumbersome and or flat out annoying. Let’s face it, most of us think of taxes as boring and justly so. CPA’s and Financial Advisors may as well be wizards and witches for the magic they work in turning our troubles into gold.
I want you to start thinking of tax season as the ultimate time to “Up your Game”. Try viewing your taxes and the associated liabilities from the perspective of financial strategy like your tax advisors do. This is a game designed to be complicated where knowledge is power. Do you think Million Dollar moguls pay more for anything than necessary? ABSOLUTELY NOT. IF there exists a way to hold onto more money or legally exploit the system, they are boarding that train.
By adapting their mentality in respect to keeping yourself abreast of ever changing legislation and revisions to the tax code that will affect the sustainability of your business or signing up for newsroom updates from your lending partner, it is worth the time and the occasional subscription will be money well spent.
So this tax season, don’t be frustrated by the approaching deadlines. Buckle up and get ready to knock future tax seasons OUT OF THE PARK. Look at your receipts thru the filter of “Where can I Save”. Your business may be your “baby”but it is also a vehicle for controlling your future, growing your financial wealth and improving your lifestyle. So don’t be afraid of the Tax Man this season, make him work for you!