February is traditionally the month of love, and with all the chatter floating around about love, taxes might not be the first thing that comes to mind. Actually, I’d say for most people, love and taxes don’t live in the same universe, let alone belong in the same sentence.
In the week leading up to Valentine’s Day, Google Trends shows “how to love yourself” is in the US’s top five questions. That’s why we’re here to present the ultimate act of self-love. Hiring a Tax Professional.
Self Love or Self Care?
First, let’s get clear on self-love. According to experts in mental health research, self-love and self-care are often used interchangeably. The main difference is with self-love is having regard for one’s own happiness and well-being. Both phrases represent taking action to put your physical, emotional, and mental well-being first. Something that is often a challenge for entrepreneurs!
Hiring A Tax Pro – The Ultimate Act of Love
1. Prioritize YOURSELF
Taking the step to hire a tax professional allows you to prioritize yourself.
I know some of you feel uncomfortable even thinking about putting yourself first since you’re constantly giving 110% everywhere else. Investing in a CPA gives BACK the opportunity to focus on areas in your life you love and are passionate about, rather than deciphering tax code changes and updates.
2. Set Healthy Boundaries
Boundary setting is an ongoing process. One that crosses all parts of our lives. Boundaries can be emotional, physical, material, and more. Deciding to hire a tax pro can help you set healthy boundaries relating to your time. How much time do you want to devote to what lights you up versus tax compliance? How much time do you devote to tasks that give you indigestion or make you frustrated?
Your time is valuable and nonrefundable. Investing in professional tax preparation supports you in utilizing your time in pursuit of things you love.
3. Eliminate Stress
For many entrepreneurs, there is a drive to hold all the cards and do everything themselves. Delegation is practically a dirty word. In reality, using a tax pro eliminates the self-recrimination and stress associated with putting off taxes because they’re considered a chore, complicated, or just finding the time.
The relief that comes from having the process handled eliminates self-judgment and reduces stress. Less stress equals more mental capacity for your passion projects, self-care, and love in general. Of course, reduced stress also allows you to be more productive in your career and family life.
4. Protect Yourself
This one is a biggie. The more complex life gets, the more complex taxes become. One missed checkbox on one form could result in a tax penalty. There is nothing quite like receiving an IRS notice in the mail and seeing those large, bold letters on the envelop to make your stomach queasy. Engaging a CPA protects you from preventable errors like missing tax forms when preparing your tax return. It also helps protect you in responding to potential audits.
5. Treat Yourself
CPAs help you claim every deduction and credit you’re entitled to on your tax return. They ask questions and clarify any tricky tax situations. Those penalty avoiding checkboxes we mentioned above? The penalties are simpler to avoid when preparing the return if you’re aware of the current tax law and working with taxes all day, every day. A tax pro will also help you understand the final numbers and feel confident the return is correct.
Bonus: Better Sleep
You’ll sleep better knowing you’ve protected yourself from errors and treated yourself to not only to a well-prepared tax return but also put yourself first, delegated your tax compliance, and regained your time for what you love.
Put simply, deciding to hire professional shows an appreciation of your own value and appreciation for your well-being. What better way to show love for yourself and your business.
At Tax Time CPAs, we believe that you deserve peace of mind knowing that your tax compliance is handled. That includes providing you services beyond the one-n-done tax return to build an ongoing relationship to support you and your business needs.
Contact us today to learn more about our Business and Individual Advisory Services in addition to our tax return compliance.
Disclaimer: While we firmly believe in the love bestowed upon oneself by hiring a tax pro, we do not recommend tax preparation as a gift to your loved one in lieu of romantic or holiday gifts.