How To Lower Your Stress Levels During Tax Season
April 12, 2019
There are some tax tips that can just as easily apply to the professionals involved with other people’s taxes, as to the taxpayer themselves, and both parties are more than capable of succumbing to the stress that often accompanies tax season.
Here are some ways of helping to lower your stress levels, whether you’re filing your own taxes, or filing on behalf of a client:
- Stress can lead to confusion and mistakes – with this in mind, it would seem clear that stress should be avoided at all costs, as taxes can be confusing enough without the added pressure of stress. There are myriad ways of lowering stress at tax time but preventing yourself from becoming stressed in the first place, seems like the most sensible solution. If you’re a professional involved in accounting, then be sure to focus on one client at a time, no matter how tempting it may be to have multiple files open at one time, and if you’re an individual filing, then be methodical with your work and take breaks if you’re struggling to find focus or are becoming distracted. Worrying about filing on time takes up a lot of brain space, so simply get on with what needs to be done and don’t give yourself a reason to become stressed over a deadline.
- Struggling to manage a workload isn’t good for anyone – so always ask for help during tax season, and if you’re a small business owner attempting to file your own taxes, never be too proud (or tight fisted!) to seek professional help. The amount that you pay your tax pro to help you with your taxes throughout the year, may well be saved at tax time when they pick up on deductions that you might not have realized were there, and when they help you to meet deadlines that previously saw you being penalized for missing.
- Organisation will always minimize stress – neatly filing your expenses receipts, invoices and other essential paperwork throughout the year can cut down on time when tax season comes around and is always worth doing. Professionals will be able to work on their client’s tax returns with no stoppages due to incorrect filing or mismanagement of documents, leading to less stress for them and zero stress for the client.
- Try to take major life changes in your stride – easier said than done, of course, but life throws a lot of crap in our direction sometimes, and some of these changes to our circumstances can affect our taxes. However, if you continue to be organized with your filing of paperwork and be sure to have documents pertaining to every event that may affect your filing status, you can’t go far wrong.
There are some of us who will always have elevated stress levels during tax season, no matter what tips we follow and how organized we are, and in these cases, minimizing the degree of stress is key. For those of us who ordinarily don’t suffer from stress, being organized and seeking professional help should be enough to never see stress rear its’ ugly head during tax season.