Today is “tax day” – and in a minute, you’ll see why I happily wrote a large check to the IRS today (the reason is not what you would expect).
You see, in 2001 – I found myself millions of dollars in debt.
The interest rates I was paying on that debt were in the double-digits, and the only way I thought I could get out of it was working 7 days a week, every waking hour – just trying to get above water.
… and eventually, I did.
Turning a pile of debt into a multi-million dollar business.
But then I got comfortable.
Some may even say “fat and lazy.”
I stopped doing everything that made me wealthy – and I started to slip backwards.
I made a few bad business decisions, took unnecessary risks, and rather than taking the “smart route,” I tried the easy route and saw hundreds of thousands of dollars slip through my fingers like water through a sifter.
As if that wasn’t enough, I got a wake up call that still sends chills down my spine.
I can remember sitting down with my accountant, who looked me in the eyes and said:
“Well, Charlie, the good news is that you don’t owe any taxes. The bad news… you don’t owe any taxes and we’ve got a problem.”
You see, I lost more money than I made that year (a lot more!).
And at that moment, I realized that I messed up.
I got up off my chair and made a commitment to myself: that I never again want to be in a situation where I don’t make enough money to owe any taxes at all!
That was a few years ago, and enough of a slap on the backside of the head for me to make some big changes.
So this year, when my accountant said to me:
“Charlie, the good news is that you’re income was substantially higher this year than it was last year. The bad news… you now owe the IRS a LOT of money!”
I fought the urge to give a huge fist pump in the year and exclaim: “YES!”
Yup, I’m one of the odd fellows who actually enjoys writing those large quarterly payments to the government – because it means I am making money.
So the next time you write a check to the government and cringe, saying things like: “I wish I didn’t have to pay any taxes.”
Just be careful what you wish for…
As far as I’m concerned, because you’re reading my blog (and especially if you’re an Insiders’ Club Member) – you’re already steps ahead for making this year an even bigger year than last…
In your corner,
Charlie