It’s tax season, and like others, I embraced procrastination and ran from the actions that would have enabled me to file and proceed with other activities. Consistently, I create a weekly schedule on Sunday mornings where I identify and revise goals for my professional and personal life. Filling 2017’s taxes has appeared on my calendar in the personal category since February.
With each week I postponed organizing my finances for my accountant to review and file on my behalf, I became more aware of an underlying problem. I was avoiding sitting down to complete taxes because I was concerned about the potential outcome revealed through my business and personal expenses. My feelings are not uncommon, which make taxes without procrastination an oxymoronic statement.
Quitting the work that did not stretch me to reach my potential was bold, and it forced me to tackle the challenge of finding other income resources last year.
In 2017, I encountered significant financial changes in the restructuring of my entrepreneurial activities. I moved with my family to Mexico in 2016, which required me to leave my job and create revenue streams independent from the comfort of a consistent paycheck. Quitting the work that did not stretch me to reach my potential was bold, and it forced me to tackle the challenge of finding other income resources last year.
Making consistent money through my writing, consulting, and coaching services while living abroad, is not easy. While it is an extension of my previous work as a university professor and martial arts’ business owner, there exists a different set of challenges that come with relying primarily on email, social media, blog, and video platforms to maximize profits and minimize losses. In 2017, I learned a lot from my financial failures and the challenges of creating valuable products and services.
I told myself that filing taxes is an act of engaging positive self-awareness.
The concern that I might identify additional losses with this year’s taxes made the task of organizing my affairs daunting. After many prolonged weeks, I decided to change my thinking around the work required to file and determined how to discover the motivation to stop procrastination. I told myself that filing taxes is an act of engaging positive self-awareness.
Through gaining clarity on my expenses, I can clarify the necessary adjustments for financial progress in my business and home life. Procrastination did not encourage the growth needed in this area of my life. With each week that passed, I missed opportunities for more in-depth insight into budgetary activities with the potential to create financial freedom.
Reframing filing taxes from a burden to a positive self-awareness activity encouraged me to find the energy to get my affairs in order. I told myself that identifying profits, losses, and expenses was a good use of my time that would empower me to improve and grow. It didn’t take as long as I expected. Yes, it required an entire workday, but it was not unbearable.
I felt accomplished and made discoveries of my spending habits. While 2017 was not an exceptionally profitable year, my business activities did cover my expenses. The investments I made in my business were valuable and produced some returns. The organization of 2017’s taxes enabled me to learn from past decisions and to realize the potential for growth in 2018.
We often avoid filing taxes, because we are concerned about the work required to organize and structure our finances. If we reframe, it as a positive self-awareness activity, it is possible to shift our mindset to resolving taxes without procrastination. The decision to get it done to make room for growth in this area of my life helped me, and I implore you to try a similar strategy.