Want to know the second easiest way to guarantee stress and misery in your life?
Don’t pay your bills.
(In Lesson 9, I’ll tell you the number one way.)
It happens without fail. As soon as an entrepreneur finally starts making enough profit to more than cover living expenses and basic savings, the entrepreneur for ways to pay less taxes.
“It sure would be better to write a $100,000 check to the U.S. government next year than a $500,000 check.”
The cost to reduce taxes in time, money, stress, and risk isn’t worth it. You deploy questionable strategies you’ll have to defend, document, and manage each year for the rest of your life. The doofus who promotes the tax savings strategy gets paid the first year and is long gone while you deal with the mess.
It’s far easier to pay your taxes.
All the money you make as a wage earner or business owner isn’t yours. You may not like it, but it’s true.
Who pays the lowest taxes (in dollar amounts)?
Poor people.
If you write six-figure or seven-figure checks to the government for taxes, life is good. You’re making a bunch of money.
Paying your taxes is for your financial health like regular exercise is for your physical health. You contribute what’s necessary on a regular basis to enhance your longevity.
This lesson might sound exceedingly obvious, but I wouldn’t include it if I hadn’t seen so many successful people create so much unnecessary stress by not paying their taxes.
The good thing is, applying this lesson is easy: pay your taxes, on time, every time, every year, for the rest of your life.