Monday, February 23, 2009

KEEP IT SIMPLE STUPID!

Keep it simple Stupid! Last week, I prepared and filed my Federal Tax Return. As I've done for the past two years, I used one of the Free File companies on-line to actually file. It allowed me to file my Federal Return for free. About 20 years ago, the agency I work for developed an e-filing program for its employees. So I've be e-filing for nearly 20 year. For many people, tax time is a nightmare. People get stressed out and frustrated when they do their tax returns. But for me, it is a piece of cake. Because I have a simple lifestyle, and the circumstance of my life rarely change much from year to year. I can prepare my own return. One weekend recently, I sat down with pen, forms, and calculator. Even though I use e-file, I still prepare it manually as a draft. When I sat down, with all my forms, figures, and document it took me all of 1/2 an hour to prepare a rough draft which I was able then to e-file on-line. My advise to you is "Keep it Simple and Concise. If your circumstances do change; do some research, brainstorming, planning; asking yourself the question, "How will this affect my Tax Return. If you do need an Accountant, or Tax Preparer, keep yourself abreast of what he is doing. Be hands on. After all you are signing the Tax Return under penalty of perjury. If a mistake is made, you are responsible. The way that this relates to building a business is this. It is important to keep it simple. Every aspect of your business should be simple and concise; streamlined so you can run it on auto pilot, if need be. It needs to be simple so you can teach it to others so that they can duplicate what you've done. It needs to be simple and concise so that you can be on top of it and be in control at all times. What I said about the Tax Return in the first paragraph, relates to your business tax return; even if you have an Accountant, or Tax Preparer prepare your return: you be abreast of what is going on. Take responsibility for your tax return no matter who prepares it. Remember the acronym KISS. KEEP IT SIMPLE STUPID REGARDS Thomas Havis (313) 516-6043 CALL AND ASK ME ABOUT MY TWO MINUTE STORY

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