In many ways, tax season is similar to the New Year. How could that be? Tax season is full of anxiety and deadlines, whereas New Year’s is full of parties and fun. The similarity is that, like New Year’s, tax season is a time when many of us evaluate the previous year and make resolutions for the year ahead. Although many of us dread tax season, it is a good time to focus on our financial goals.
At tax time we spend hours going through the financial details of the past year and vow that we are going to get better control of our financial situation moving forward. However, once our return is filed, we are so relieved, that we forget the anguish caused by gathering our financial records. So, once again, we postpone our resolution to take control of our finances and start seeking guidance on how to better manage our finances.
The good news is, it doesn’t have to be that way. This year, make a tax planning appointment. Even though there is no magic to the act of financial planning, the key is getting started. You need to have a plan in order to help you succeed. Make 2016 the year you finally begin to map out your financial future if you haven’t done so already. Then next year, the anguish you normally feel when gathering your tax information will be replaced with a wonderful sense of relief and accomplishment.