3 Stress-Free Ways Business Leaders Can Beat Tax Anxiety

Do you get tax anxiety? (Is the Pope Catholic?) You’re not alone. So many people suffer from immense worry or dread when it comes to their taxes and the IRS that Psychology Today created a word describing the phenomenon: forosophobia.

And it’s not a baseless fear; many people spend hours wading through red tape regarding their taxes and other governmental hurdles.

But sometimes, the anticipation is worse than the actuality. While many worry about going to jail, Credit Karma reported that just 0.9% of corporations were actually flagged for an IRS audit (excluding returns from S-corporations).

Audit angst aside, let’s take a look at why business owners experience tax stress, review some tips to help you prepare and file your taxes and learn how to avoid the pitfalls of procrastination so your business doesn’t fall prey to expensive tax penalties.