BEHIND THE SCENES
I wanted to share my experience with my tax planning session this past December.
I’m no stranger to tax conversations or even filing taxes but I was still so nervous to make the appointment. I really just wanted to figure it out myself and avoid a call but that didn’t happen.
All summer, I had 2 questions that would impact how much taxes I owed taking up more and more space in my head. I’d been putting off asking my tax pro about it because I thought I could figure it out. I normally do my own rough tax planning each year, but it was a new situation, so I wasn’t sure what the right decision was.
By November (yes, months later), I couldn’t put it off anymore. I still didn’t have an answer yet, and it was getting close to the end of tax planning season. So I finally emailed my tax pro, we booked a call, and I asked my questions.
And the call was a relief. She answered my questions, made a plan, and less than 30 minutes later I hung up. Question answered. Situation resolved. Now my brain had more space to worry about other stuff.
Sometimes, my systems-thinking brain can figure things out for me. But sometimes, it really is worth the hassle to get extra support (especially if it’s a business expense anyways!).
MAKING BUSINESS NEURODIVERGENT-FRIENDLY
Before the holiday season kicked off, I guest-appeared on the Take the Leap Podcast to talk about managing bookkeeping as a neurodivergent (ADHD, autistic, etc.) solopreneur or business owner.
A summary of the especially helpful parts to building a business money system that works with your brain:
Plan your bookkeeping around your natural workflow instead of fighting it
Use an iterative approach to business and finances (nothing has to be perfect on the first try)
Start with simple, high-impact steps to get your finances in order (yes, separating business and personal finances really makes a big difference)
MONEY SYSTEMS TRANSLATED
My goal is to make tax season as boring and uneventful as possible for my clients. And it all starts the year before.
Here’s what I do to make that happen:
In the fall: I check certain items before the end of the year so I know what to expect in January
No, the year isn’t over but checking the books early helps me to spot anything that could turn into a last-minute problem, like miscategorized transactions or anything that might impact 1099s.
January: I review the books so they’re ready to hand off to the tax pro
If anything is still lingering and not able to be resolved in January for whatever reason (like getting a late W9), we still have time to manage it before it becomes an April emergency.
Why this matters
When you do a light check in the fall and a wrap-up in January:
you avoid surprises
you get clearer profit numbers earlier (necessary for any tax planning!)
and tax season becomes boring (in a good way)
I guess these newsletters have chosen a monthly rhythm for now, so I’ll see you next month!
Aneisha