How can a tax return remind you about love? Most financial planners use an individual’s tax return to extrapolate financial information to help them create a financial plan. We use a person’s tax return to extrapolate the amount of love in your life. We figured out a long time ago that if we planned from our hearts and not just from our financial minds, that we could create extraordinary results for women.
Let us share with you how we see a completed tax return. The first page of a tax return (form 1040) starts by listing the name of you, the taxpayer, and if you are married, the name of your spouse. It also lists any dependents you may have. Some people see family members as deductions, others see them as the most important relationships that you have in their lives. This is the reason you get up every morning and go to work. These are the people you support with your hard-earned money. One day on your deathbed, you will likely ask to see them one last time. You will measure your life by the love you shared with your “dependents.”
STRENGTH OF RELATIONSHIPS
If you were our client, the first question we would ask of you is how strong are your relationships with your dependents? Do you need to allocate any money to make these relationships stronger? What is your vision of how you would like to help your loved one’s financially? What have you done so far to protect your loved ones? Have your purchased life insurance to take care of them in case you die prematurely? Do your own disability insurance to protect your wages in case you become injured in the workplace or in an accident? Your dependents have come to “depend” on your income. Have your completed an estate plan to transfer your assets to your loved ones? Are you investing in your children’s future by setting up a college savings plan? Some people say they love their families, but never get around to taking the necessary steps to show them that they really care. And, this is just the top one-third of the first page of the tax return.
PASSION AND GENEROSITY
The next line asks you to list wages earned. We want to know from our clients if the money reported was earned from a career you love. Is it your OCCU-PASSION? No amount of money will create a significant life unless you feel that the service you are providing is actually serving your life’s purpose. There is a famous book titled, Do What You Love, The Money Will Follow—there is much wisdom in this. We will spend more time at work than in any other area of our lives. If our clients don’t find joy in your work, then we need to create a plan to help find them a career where your can use your God-given talents. You need to invest in finding a work environment where you can express your full potential and live your highest purpose. Can you imagine spending your days doing what you love to do? How much value would you provide to your employer or your customers or yourself?
These are just a couple of examples from reviewing the first half of the first page of your tax return. What if we just peeked into your charitable contributions? How quickly could you see how generous or grateful your heart is? What about your mortgage interest or property tax deduction? I bet you already know where we’re going with this.
So don’t get upset next time you have to think about preparing your tax return, instead think about having to prepare a Love Return!
Louis Barajas and Angie Barajas are the authors of Small Business, Big Life for Women. Learn more at www.louisbarajas.com.