“There are people who make things happen, there are people who watch things happen, and there are people who wonder what happened. To be successful, you need to be a person who makes things happen.” <em>- Jim Lovell</em>
So there’s been a bit of a flurry recently in the tax professional community about some proposals to further regulate our profession. Specifically, the federal government is looking at licensing anyone who prepares taxes on others’ behalf (this is already the case, essentially, in California and Oregon). The goal is to nab the people who are helping others cheat on their taxes…and get the IRS more revenue, of course.
So what do I think about this?
Well, you might think I’d be opposed to it… but, in fact, legitimate preparers generally welcome higher standards as a way of announcing to our clients that we meet those standards! The American Bar Association and H&R Block are just two of the organizations that have announced they support the IRS effort.
<strong>How will this all affect you? </strong>
In the end, it will actually make your life easier. I’ll still focus my time and attention on helping you cut your taxes to the legal minimum. I just won’t have to help you carry the weight of so many fellow Americans who don’t pay their share.
So when you read or hear that the IRS is regulating tax preparers, don’t think it means a harder hit to <span style=”text-decoration: underline;”>your</span> wallet…we’ve got you covered!
Moving on, as much as I write about keeping your head up about money, I still get notes and questions from my clients and friends who find themselves falling into a pit of worry.
So, I’ve got some additional thoughts about how to free yourself from the morass of money worries in this week’s Personal Strategy Note.
<strong>”Real World” Personal Strategy</strong>
<strong>How Not To Worry About Money </strong>
With all of the news about spiraling federal debt, it’s natural that Americans are taking a hard look at their own situation, and it sometimes leads to worry–even for those who are relatively secure.
Interestingly, my clients who have MORE cash in the bank often worry more! Funny, right? But it’s normal human nature…
You see, under all guidelines and measures, my finances are very solid. I’ve got a thriving business which is more secure than most people’s jobs. I work with numbers and am very good at taming balance sheets.
Yet, I still sometimes worry about money.
After a lengthy time of thinking and discussion and some more thoughts into the matter, below are a couple areas that can help us all reduce the worry for money.
<strong>1. Realize that It’s Exaggerated</strong> – Worry is a funny feeling – it seems to exaggerate any problem. While there are certainly many people who actually run out of money, those are usually not the people that tend to worry.
<strong>2. Spend the Same Time Making Money Instead</strong> – If you are going to spend time worrying about money, why not use that time and get a side job instead? Maybe start a website (or two, or three). I know it’s easier said than done, but the more you work at it, the easier it gets.
<strong>3. Confidence</strong> – Part of the reason why we worry about money is because of the lack of confidence in our own abilities to earn an income. How can we boost our confidence you ask? Confidence comes from success, and success starts from taking action. So try a few things. Learn from it and try again.
<strong>4. The workplace plays a big role in all this as well</strong>. Are your colleagues encouraging? Is your boss supportive? If not, then do something about it. Don’t get into the thinking of “I can’t find another job”. Yes you can. If you got this job, you can get another one.
<strong>5. Worrying A <em>Little</em> is Actually Good</strong> – A little worrying is actually healthy for us. It’s what drives us to be better. It’s what turns our energy switch to the on position. The right way to deal with it is to channel it into your work ethic, and your desire to be better.
<strong><span style=”text-decoration: underline;”>How Do You Deal with It?</span></strong>
Of course, what I listed are just the tip of the iceberg. How do you deal with worrying about the lack of money? Or do you? What has worked for you? Let me know!
To your greater peace of mind!