Unpopular opinion 🚨
Posted on August 20, 2022

I LOVE owing more in taxes!

I know…take a moment to 🙄. But I hope after reading this you’re excited about it as well!

{Side note}: Of course, we work with a CPA to mitigate the tax liability as much as legally possible, but if we’re making money, we’re still going to owe.

If I’m paying more in taxes it means I’m making more!

If we want more clients/customers/revenue, we just have to get used to this fact, celebrate, and plan for it.

It doesn’t mean we grow and add more revenue then ignore the whole tax ‘situation’. I see this happen often. A business owner busts their tail through the year, has epic results, and then is blindsided by a huge tax liability.

If that’s your experience, then of course you aren’t going to love paying more.

But if we plan for it and save all year…that’s a totally different story. We are so much more empowered and aren’t thrown for a loop in April.

So what does this look like? 🧐

It looks like figuring out how much to save each month. Saving for the year-end income tax AND saving/paying estimated taxes along the way.

Many clients I work with are very seasonal. So we’ve outlined a higher amount for the cash-flush months so when cash is leaner they can give themselves a break from saving as much.

We literally plot it out on a spreadsheet so we know each month what to save. I always recommend getting with your CPA this time of year for a check-in. If you’re having an amazing year, they may want to help tweak the % so that you’re prepared.

While you may not be like me and be excited, you can be peaceful and prepared and I’ll consider that a “win” any day! 🎉

If you want to create more safety so that growing your business feels stretchy, not stressy, book a FREE Get Honest With Your Strategy To Scale Call. We will look at how to increase your revenue and create more safety so that you can plan/prepare for taxes 🔗 here:

Book Here!

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