The Taxman Knocketh
Spring is just around the corner… are your taxes ready?
With mixed reviews on the ever so reliable Punxsutawney Phil (groundhog) predicting six more weeks of winter, unfortunately, that has no bearing on when the IRS wants their money. One word that resonates with me at the first of every year and again around April’s Fools day is the nasty “P” word. PROCRASTINATION. Merriam-Webster defines procrastination as “to be slow or late at doing something that should be done”.
Why We Procrastinate
Why do we wait until April every year before we take a dive into our taxes? Though I am not a psychologist, psychiatrist, or claim to know even a little bit about the workings of the brain, I can tell you why I procrastinate. I believe that FEAR is the ultimate fuel for procrastination. When the taxman returns each year I am struck by the fear of how much I owe, how much money I don’t have, how much I didn’t earn last year, or how far away I was from accomplishing last year’s goals. Fear often precipitates excuses. If we take just one moment to be honest, we all know excuses are just Band-Aids for not being accountable.
Do not fear the Taxman!
What has worked for me in the recent weeks is accepting that growth only happens by becoming comfortable being uncomfortable. Many of us do not have a vision on how and when to do our taxes, so we end up waiting until the last minute and ironically most of us require the services of an accountant. Or perhaps you are like myself and have a plan, but lose track of how and where to start. Jocko Willink says it best, answering the question of where and when to start, “Here and Now”! If you find tax season overwhelming and fear the taxman knocking, you are not alone. Get started today and hold yourself accountable.
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