Ask a Trust Officer – How to Survive Tax Season

There often comes a lot of procrastination with tax season.  The pressure to complete every task in a timely manner can be overwhelming, especially when you feel like you don’t have enough time in your day to begin with.  This may seem obvious, but the best way to avoid tax procrastination and the stress that comes with it… is to stay organized.  So, sit down and make an organizational plan that works best for you.  For example, don’t wait until the last minute to gather all 500 receipts stashed in your desk, but rather place them into a file folder or envelope as they are collected.

Change your mindset.  Finances are one of the top causes, if not the top cause, of stress for most Americans.  In fact, 90 percent of Americans surveyed by the American Psychological Association say that stress about money has stayed the same or gotten worse.  No matter how much money you make, you’re not protected from the stress that it causes.  So, find some good ways to manage tax time stress.

Tax season also highlights all of your financial activity from the past year, so it’s easy to get hung up on any financial regrets you may have.  Even if you don’t have any issues with your spending pattern from the past year, you may find yourself getting impatient with a spouse or partner because of their money habits.  Rather than focusing on the past, make it a priority to focus on the future.

While on the topic of setting goals, it’s important to note that rewarding yourself for achieving those important goals could pay off in the long-run.  Taxes aren’t exactly one of the most exciting topics, so treating yourself makes the whole process a little more fun.  You may be surprised what rewarding yourself here and there can do for your morale.