I’ve noticed many of my clients and online community are riddled with emotional stress due the subject of taxes. This is the line I hear all. the. time.
“There isn’t one place that I can go to find all the info I need about how to do my taxes, and I don’t have a tax plan AND my documents aren’t in order…. just thinking about it is causing emotional stress.”
Here is my guide to start combatting the emotional stress caused by taxes, numbers and finances – oh my.
1. Let tax and finances be a part of your everyday life. In a fun way! Follow social accounts that speak the truth about taxes in bite sized pieces, like mine. Look for tax and accounting professionals with accreditations such as CPA, EA, or CTP.
Just like your mom told you that who you hang out with affects who you are, who you follow affects your business. These accounts can either lead you to truth and empowerment or lead you astray. You’ll find that seeing these truths and tips in a social way will release anxiety because you are equipping yourself with knowledge in a lowkey chill way and seeing that indeed, getting clarity around taxes IS possible.
2. Hire a tax professional to do the heavy lifting. I promise you the stress reduction and increased savings they will bring you outweighs your investment. IT WILL PAY OFF. They are required to stay up-to-date with the newest tax rules and laws so you don’t have to. Think of them as a business asset. Have questions that pop into your head in the middle of the night after finishing that glass of wine? If you have a tax professional on your team, you have a sounding board for these questions, concerns and ideas.
3. Start small. Bite off a little of your tax & accounting to-dos at a time. Don’t do it all the day before the tax deadline. That’s a guaranteed stressful situation no matter who you are. Need to get your documents in order? Start by working on uploading and filing necessary forms in the cloud. Need to learn where your expenses are? Start using Quickbooks or another handy dandy accounting software. Shoot, even a spreadsheet is better than a box of dirty receipts.
And to be amongst a group of over 800 badass entrepreneurs who are trading stress for financial success, join my Facebook group for daily tax and business motivation.
Your brain and wallet will thank you.