You took the leap of faith in yourself.
You figured out you CAN feed yourself and your family through self-employment.
Doing what you do best.
Specialization – the ability to be the expert in a field with a high demand.
You may even use contract or employee labor.
It takes courage to be able to put yourself out there and say:
“Hey, I do this thing well.”
Then April 15th rolls around for the first time (in a normal year).
This year we actually have an extra month, until May 17th.
After having until July 15th last year.
By the way, younger generation, this is not normal.
Don’t expect it to continue in the future.
But hey, still the fact remains.
You have money that you made, and money that you spend to make that money.
You need to turn that into a report to our federal government every year.
This is not Reagan’s fault, or Obama’s.
The Sixteenth Amendment states income taxes have been constitutional since 1913.
That was Woodrow Wilson, but it wasn’t all him, either.
Anyway – you are a specialist, and you’re making the dough.
Sitting down, wondering…
“Am I paying too much tax? Am I doing this right?”
I have a quick answer to this.
Though there’s a ton of help out there on the web if you know the search terms…
…how many people do?
Or can take the time to do the searching, then the actual tax returns?
Is this the best use of your time?
Would you do your own plumbing if you have a bad leak?
Cut your own hair?
Defend yourself in a serious court trial?
The right accountant/tax expert can save you enough time and money to be worth their weight in fees.
This may be kind of a “no-duh” post this week, but if I’ve learned something over the years?
No matter how much I think, I’m saving for changing the oil in my own car, ultimately, I’m not.
Because of what I call the time-money continuum.
In my mind, they are one thing when it comes to commerce.
Kind of the same idea as when Einstein figured out that space and time are one thing.
A good tax accountant and bookkeeping service can give you something you’d have a world of difficulty doing for yourself.
A constant snapshot of how your business is doing at any point during the year.
You can bet that when you were working for “the man” your boss had accounting systems in place.
Why shouldn’t you?
Book that free first call sometime, and let’s talk about what an orderly system of business finance looks like for you!