If you have been in this online entrepreneurial space for any period of time, you have likely heard people talking about your Money Mindset.
It’s something we talk about with our clients a ton since it totally impacts the way you deal with all of the money things in your business (and in your life).
These are the messages you heard (and continue to hear) from your family and friends and the media about money, business, wealthy people, poor people, The IRS, all those things. They are in your subconscious and many times, we aren’t even aware of all of them. And, you know I could climb up onto my soapbox to talk about all of the messages we have absorbed – but today I am speaking just to the money side of things.
What does this have to do with taxes, specifically?
Well, I want you to think for a minute about what you hear everywhere about taxes and how that might be impacting your business.
Many of the messages that we have embodied about taxes include them being scary, hard, complicated, and unfair (whether that’s actually true or not doesn’t matter).
That oftentimes leads to us having feelings of shame, fear, and avoidance.
And, when we feel those feelings we are most likely to avoid the conversations completely – especially when things feel icky – like you get a letter from the IRS asking for payment on something that you don’t understand. Totally easier to just throw it in your drawer and ignore it, right?
Perhaps your mindset is causing you to not take proactive steps to save money for taxes because you don’t even know how much to save. Plus you don’t feel like you have any extra money to save anyway.
Or you end up saving WAY TOO MUCH because you would rather be safe than sorry after listening to so many horror stories from friends who had huge tax bills from their businesses?
Maybe you are working with an accountant who reinforces those things to you and stirs up those feelings you have of shame when you have your conversations with them.
So what do you do?
Well, you can do mindset work for years (and it should really be a regular part of your self-care every day, to be honest) but here are some easy steps you can take today.
If you’re working with an accountant that makes you feel judged, shamed or makes you want to run away from your money, there is a better way! It doesn’t have to be that way. Book a chat with our team.
This is provided as information only and as a starting point for a conversation with your own legal and accounting team, this should not be considered legal or financial advice.
All of these decisions are based on a number of factors and we cannot guarantee that you will experience any specific results based on any information provided. Please speak with your own retained professionals to ensure that you are making the best decisions for your business & personal situation.
Please speak with your own retained professionals to ensure that you are making the best decisions for your business & personal situation.