As the Independence Day 4th of July celebrations are being finalized for later this week, I got to thinking about the feeling I had as an entrepreneur the day I claimed independence from the typical route and set out on my own destiny. Being an entrepreneur can provide a person with the ability to be independent but that can be both an asset and a liability.
On the one hand you get to make all the decisions. Many of those decisions are made however with either little to no knowledge of the situation or the effects of those choices made (especially in the early stages of a business). Typically when decisions are made in this manner, a setback (or as some would call it a learning experience) occurs.
We have learned, from taking a look back at history, the main reason we celebrate Independence Day is due to the tax burden placed on American colonists by the British. Taxes have always caused many small business owners grief. In a recent report by Paychex, a leading payroll provider; 47% of small business owners ranked taxes as the largest issue impacting them in 2014. If that includes you, then now is the time to claim your tax independence.
So in between the plates of hot dogs, ribs and watching the fireworks, download the "Tax Independence Survey" below and stop making the expensive tax mistakes that keep many entrepreneurs and small businesses worried about their tax future. The survey focuses on key areas of your life (business and personal) where there may be tax savings that you can use to celebrate more holidays (maybe Christmas in July) with your family. Then after the holiday contact us so we can begin implementing some of the tax strategies.
We hope you have a safe and happy Independence Day 4th of July celebration.