You made it – tax day is behind us! I am sure you’re feeling relieved regardless of whether you completed the job or filed an extension. I saw a fascinating range of experiences among my clients and experienced my own twists and turns in filing this year. Read on to hear some of our stories and to take a 5-Minute Financial Assessment that will change your life. Tax season is the perfect time to reevaluate your relationship with money!

Some people I know filed their taxes early and independently – they have been reaping the benefits of being organized and proactive ever since. The hardest decision they faced this year was figuring what to do with their refund. Sounds pretty good, doesn’t it?  Some people filed extensions either with a conscious strategy and understanding of the implications or out of avoidance. Raise your hand if that resonates. If you need some inspiration for getting the job done, be sure to read my Holistic Tax Guide. Tax season literally caused the wheels to come off other people’s lives altogether. Loss of sleep, anxiety, chronic overspending and tension in relationships are just a few of the symptoms of Taxpayer Anxiety Disorder. Wherever your personal experience fell on the spectrum, tax season is a crucial time to examine what’s working and what needs improvement in your financial life.

Take five minutes to write down your responses and you’ll be well on your way towards creating a financial success story this year. If you’re in a relationship, answer these questions with your honey!

On a scale of 1 (easy) – 10 (difficult), how would you describe the experience of filing your taxes this year?

What is your ultimate vision for tax season if you could truly have, feel and experience what you want?

What is working and sustainable about your financial systems?

What is not working and needs to change?

In your financial life, what you like to accomplish (or outsource)…

  • every day?
  • every week?
  • every month?
  • every quarter?
  • semi-annually?
  • each year?

If you anticipate paying taxes next April 15th or if you plan on making quarterly estimated tax payments, do you have a separate savings account set up for taxes only?
 
Do you reevaluate your earnings and business expenses on a quarterly basis and make estimated payments accordingly or do you rely on fixed automatic transfers to your tax savings account?
 
Do you have a robust financial support team including…

  • a business strategist?
  • a tax expert / CPA?
  • a financial confident?
  • a money coach?
  • a bookkeeper?
  • a financial planner / investment advisor?

Not unlike car and household maintenance, visiting the dentist and routine checkups with your doctor, being savvy with your finances takes discipline, commitment and planning ahead.  Don’t let another year slip by without taking control of the situation. You just created an action plan, now get to it! If, like most people, you need some help and personal referrals, read my suggestions for Choosing the Right Financial Advisor. Lastly, remember that gratitude is a powerful force for bringing more abundance into your life!