Taxman. Let’s just play the song and enjoy it rather than be in a hurry to file early!

Taxman
Let me tell you how it will be
There’s one for you, nineteen for me
‘Cause I’m the taxman, yeah, I’m the taxman
Should five per cent appear too small
Be thankful I don’t take it all
‘Cause I’m the taxman, yeah I’m the taxman
If you drive a car, I’ll tax the street,
If you try to sit, I’ll tax your seat.
If you get too cold I’ll tax the heat,
If you take a walk, I’ll tax your feet.
Don’t ask me what I want it for
If you don’t want to pay some more
‘Cause I’m the taxman, yeah, I’m the taxman
Now my advice for those who die
Declare the pennies on your eyes
‘Cause I’m the taxman, yeah, I’m the taxman
And you’re working for no one but me.
Songwriters: George Harrison
Taxman lyrics © Sony/ATV Music Publishing LLC
For those of you that own your own business, here’s a quick reminder:
Return​​​​​ ​Due Date
December 2017 (monthly and quarterly)​ January 22, 2018
Annual (calendar year 2017)​ February 5, 2018
January 2018 February 20, 2018
February 2018 March 20, 2018

So, unless you own a business and have to file quarterly, why be in a hurry?  The only reason is if you are entitled to a refund.  And the only reason you would ever have a refund would be if you overpaid and/or didn’t sufficiently prepare to best balance your income and expenses.

It’s interesting that most of us don’t think about what we could do better, smarter, more effectively until April 15th looms.  By that time we have already lost the first quarter of the year.  Plus, it will take you another 45-60 days to fully implement your “this year” strategies.

What should you do today, in mid-January?  Everything that you can!  MileIQ, Hours Tracker and Quick Books “Self-Employed” (if you are) for your smartphone.  Every receipt should go somewhere other than your console, wallet/purse or the trash.  Good habits only take 21 days to become ingrained in us according to the often cited studies of Dr. Maxwell Maltz (A plastic surgeon in the 50s, the good doctor found a pattern that it took an average of 21 days for patients to fully accept their cosmetic changes. Seriously, that’s where the 21 days originated.)

The fact is that it takes longer than that to develop good habits.  So, now, in January is the time to get to busy so you can benefit from your work most of the year.

Oh, and toward the end of this year….let’s say September…would be a great time to take stock in the present and develop some sound strategies and tactics for 2019!  It’ll be here before you know it and you’ll be fully prepared to make it your best!

What do you think?

 

 

bj

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