How is preparing for a marathon like preparing for tax season?
Jim Roche is an avid runner and participates in several marathons each year – and preparing for Boston on April 17th! Jim views preparing for a marathon like preparing for tax season:
Step 1: Get organized
- Start with a plan, what are your goals?
- Organize your paperwork (training schedule)
- Figure out what is need for success!
Step 2: Do your research and prepare
- Marathon:
- Build steadily
- What is course, weather, last race evaluation, training goals, shoes/attire?
- Tax filings:
- Review and understand deductions and credits
- Learn about the latest tax laws
- What can you do to maximize deductions?
Step 3: Run the race!
- Marathon:
- Get into it, then make adjustments along on way
- Tax filings:
- Itemize/calculate
- Hard work
- Final review/submission
Step 4: Post-race evaluation – and preparation for next event!
- What could do to optimize it better next time?
- Learn, grow, change your approach
How can MyCFO help?
Learn more about our Tax Planning services and contact us today for a free initial consultation!