Tax Return Made Simple Series – Busting Challenge No.11

The following is a sample extract of an unedited draft chapter of our forthcoming book, Tax Return Made Simple which addresses each of the 12 challenges that stop most business owners from doing their tax return and their accounts.

Challenge 11: Dislike paying tax

Solution: Change your attitude to a successful business attitude and be ok with paying tax.

In the current political climax I totally understand you not wanting to pay tax but if you truly want your business to be a proper business (even if it’s just you) then there is no easy way to say this. Accept that paying tax is just something you have to do, and the more tax you pay, the more successful your business is, but we’ll cover this in more detail.

Depending on where you live will depend on the rate of tax you pay, and what you get in return. You have chosen to live in a particular country, use their roads, services and run a business in that country. That for most countries involves paying tax. We always have the choice to move and I know some people who have done that.

Some people dislike paying tax because of the feeling of being punished (I’ll expand on this later), the extra admin burden or simply because they dislike their governments’ values and/or the way their government is spending their money. It makes complete sense and yet it’s holding you back from being organised and achieving financial success.

So what can you do about it? Simple. Do something about what rattles you and let go of what you can’t do anything about.

That might sound like a bit of tough love but other than vote and get behind some lobbying parties, there is really nothing more you can do. In the meantime, accept it for what it is, let go of the grudge and move on. Remember what happens when you hold on to that hot piece of coal I discussed in Successful Business Minds?

I know the above might sound harsh but truth be told, your actually self-sabotaging your success by getting hung up on this. I’m not kidding. No, this doesn’t mean that you sit back and watch your government destroy everything your ancestors built up, but fight it in a more proactive way that doesn’t hurt your finances.

If you reduce your sales to pay less tax it only hurts you as you then have to claim benefits to pay your rent and then you’re truly dependent on the government. Is that what you want?

Do you want your government to control every aspect of your life or would you like to be in control of your finances, in which you can change your attitude about tax and see it as a reward? Humour me for a bit and read on.

Another way to think about tax

End of preview.

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© Helen Monaghan

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