Tuesday, 14 June 2011

Easy Money: Compete with the ‘Tax Man’ for Your Dollars

Tax season is stressful for entrepreneurs,
people who hate paperwork and ‘clutter bugs’ -
but it doesn’t have to be. “Becoming an
organizational whiz is a lot easier than you
might think” claims Tana Plewes, Creative
Analyst with the Discovery Centre for
Entrepreneurship. “In just a couple of hours,
start to finish, you can design a financial system
that will alleviate stress, save time and actually
‘find’ money - not just at tax time but all year
long. The greatest payoff for being organized is
peace of mind that comes from knowing you’ve
solved a recurring problem - once and for all”.
Many people make the costly mistake of cutting
the wrong corners at tax time. “Being organized
is a short-cut that pays dividends. It makes
hiring a tax specialist an affordable option”.
Money is lost when unqualified people are hired
to ‘save money’ in tax processing fees. “People
are unaware that thousands of dollars,
sometimes tens of thousands, are lost due to
scarcity thinking” says Plewes. “This is
particularly true for new business owners when
personal savings, assets and resources are used
to research the business plan and launch the
new venture. A tax specialist will navigate the
Income Tax Act to squeeze every penny back
into your pocket.
People fall into one of three broad categories
when it comes to managing the paper work that
clutters up our lives. According to Plewes, some
over-analyze to create cumbersome
procedures; others are resigned to a life of
chaos and crisis. The third type swings radically
from one extreme to the other depending on
the circumstance. If you’re part of a team
chances are you interact with one or more of
these types every day.
The benefits of having an organized workplace
are not limited to finance. Organization
enhances retail merchandising, inventory
control, production flow and staff training. It’s
the foundation to team communication,
operational efficiency, effective marketing and
profitability. Start small by getting your
paperwork under control. Soon you will
discover your new financial system fits your
busy lifestyle AND saves you money, time and
frustration. Not only will you de-clutter your life
and work environment (not to mention your
head) you’ll be ready to go toe-to-toe with the
‘Tax Man’ to compete for your hard-earned
dollars.

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