Building,Tax,Reserve,you,know, business, insurance Building A Tax Reserve
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Do you know how to create or maintain reserves? For manypeople, the concept of creating reserves is somethingthey've never heard of and therefore never considered. I'mpretty new to the concept myself, having learned it only afew years ago from Thomas Leonard (1955-2003), founder ofCoach U and Coachville. Thomas then took this reserveconcept further by creating a super-reserve list andIntegrity Days to help people - including himself - takethese concepts "to the max".Learning about reserves came in handy back in 2000, becauseI started working for Thomas. The only way I was able to fitthis new work in my day was because - you guessed it, I hadcreated so many reserves. The concept Thomas pioneered worksall the time. Why? Because when you have reserves - ofpeople, of things, of money - you just have more time to dothe things you enjoy, too!What does life look like when someone doesn't have reservesbuilt into their lives? Well, they procrastinate, don't sayno enough, worry consistently and maybe even have a To DoList the length of a football field. In their lives,everything becomes "urgent" because they've waited so longto do things - and they "to do" them, only when forced intoaction only or when it's an emergency. Some folks are almostaddicted to the excitement that "urgent" causes in theirlives. Is that you? See for yourself. Download theAdrenaline Addiction Test, a PDF Report, now athttp://www.coachmaria.com/documents/adrenline.pdfOne of the best areas to create reserves in is-taxes! Yes,that's right. If you're paying taxes, you are honored withan income. Traditionally, people think about taxes only onthe first day of a New Year and April 15, and as a businessowner, there are other dates equally important. It's crucialfor your success and the success of your business that youlearn to build your reserves now.How do you create a reserve in the area of "taxes"? The listbelow may help!--Know your business strengths, what you are capable of and/or enjoy doing.--The best way to look for help is before you need it. Do the research at your leisure.--Always have at least 1 back up in case your first choice fizzles out, moves, or just chooses not to work with you.--Schedule your contact management program to tell you its time to send in your taxes.--Join Financial Action Reminder http://www.coachmaria.com/a/subscribed to receive a monthly financial paperwork reminder.--Take an IRS tax classes in person or online.--Finish your book keeping monthly.--Hire a bookkeeper.--If you have employees, consider hiring a payroll processing company.And don't stop there. Contact your county, state and localtax department to see if they hold classes; in addition to income taxes, you may find classes for business ownerscovering business and occupancy (B&O) taxes or sales tax.Here are some excellent resources to use:IRS Business Pages http://www.irs.gov/businesses/index.htmlSmall Business Resourceshttp://www.irs.gov/businesses/small/index.htmlTake IRS Small Business Tax Classroom Onlinehttp://www.irs.gov/businesses/small/article/0,,id=97726,00.htmlAttend a FREE in person IRS Tax Classhttp://www.irs.gov/businesses/small/article/0,,id=99202,00.htmlCall the IRS 1-800-829-1040Choose the Right CPA (or Tax Advisor) for Your Businesshttp://coachmaria.com/articles/cpa.htmlBest Places For Tax Informationhttp://coachmaria.com/articles axinformation.htmlAsk other business owners what payroll or data processingcompanies they'd recommend.Know where your state stands on taxes. Washington StateDepartment of Revenue is upping cost of tax mistakeshttp://www.wetapple.com/headlines/articles/2003-08-01-HED-05.htmlThrow away the excuses, and create your reserve now.
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