How Organizing Your Taxes Can Save Big Bucks
Take Control of Your Taxes!
Taking control and organizing your taxes can be one of the most daunting and stressful, but absolutely one of the most important things you have to do.
Why is organizing your taxes so important? According to Sandy Botkin, CPA and former IRS Attorney, the average entrepreneur is spending much more on taxes than they need to.
Having the right knowledge in the area of taxes is imperative. Whether you do your taxes yourself or you hire someone else to do it, staying on top of your taxes and organizing your taxes can save you thousands.
There are great tools out there that do everything from track mileage to provide cloud-based storage for expenses. Taxbot and TurboTax are among the many options for help with recording and preparing your taxes.
Most are compatible on IPhone and Android technology.
My students find that they start saving money right away and feel much more empowered.
During our OYL Class, Sandy Botkin teaches on the high importance of organizing your taxes for entrepreneurs and small business.
In addition, students receive many tips and other various pieces of knowledge that assist in the complicated world of taxes.
One student, Jessica, had amazing breakthroughs in her tax situation. The following is her recent story involving her “tax empowerment” and how she took control of organizing taxes.
Earlier in the year, I had a bit of a health crisis. In order to treat it, I chose to use naturopathic doctors and had to pay in cash.
This took the entire amount of money I had saved for taxes in 2015 and then some. I knew it was a huge risk but I knew I deserved to be healthy and trusted in God that somehow it would work out.
I delayed filing my taxes out of fear but finally today as Susan would say, “I bit the lemon.” It couldn’t be as bad as I thought.
When I got the amount I owed back from my accountant, it was $125 dollars. (I expected around 10k) She said my records were amazing and I was able to take so many deductions. It changed my tax bracket, so the refund I got on the W2 (for the first part of the year before deciding to take on entrepreneurship full time) covered my taxes in FULL! It even covered the majority of her fee!
This was LITERALLY a life saver for me! I can’t imagine what I would have done without having learned about organizing my taxes in OYL! It saved me thousands of dollars.
Even more importantly, I am finally able to work with a doctor who believes that my health doesn’t have to decline. I am getting stronger and healthier every day.
Thank you so much.
Susan Sly is a best selling author, work life balance expert, speaker and entrepreneur. She has appeared on CNN, CNBC, Fox, Lifetime Television and the CBN. Susan is the mother of five children and resides in Scottsdale, Arizona.
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