When tax season rolls around, it’s easy to feel like taxes are just another burden on your already full plate.

Most of us deal with them reactively, scrambling at the last minute to gather the paperwork, answer our accountants’ questions, and hope to get by without owing more than we expected.

But what if taxes didn’t have to be a hassle? What if we addressed them as part of a broader strategy for financial growth and business success?

As a business owner or executive, you have a unique opportunity to take control of your tax situation by changing the way you think about it. By changing your mindset and adopting smarter habits, you can reduce stress, make better decisions, and even use taxes as a tool to achieve your personal and business goals.

Here’s how you can start thinking differently about taxes, along with some practical steps to help you take action.

think long term

Be proactive, not reactive: Most people only think about taxes when they have to, whether that’s tax season or when they receive a notice from the IRS. However, proactive tax planning can significantly improve both your financial situation and your peace of mind. By thinking ahead and treating tax planning as a year-round responsibility, you’ll avoid last-minute surprises and stress. Even more importantly, you’ll discover opportunities to save money and make better financial decisions.

The growth mindset: taxes are not just a bill to pay or an expense to minimize; They are part of the bigger picture of your overall financial strategy. When you view taxes as an integral piece of your personal and business financial puzzle, it changes the way you approach them. Instead of focusing on short-term tax avoidance, you’ll start thinking about how taxes fit into your long-term growth plans. Are you making decisions that align with your vision for the future? How can your tax strategy support your goals, whether they involve reinvesting in your business, expanding your operations, or increasing your personal wealth?

Develop better habits

Review financial health: Many executives and business owners schedule regular check-ins with their teams to review business performance or discuss progress on key goals. The same discipline should apply to tax planning. Instead of reviewing your tax situation once a year, set up quarterly or semi-annual check-ins to evaluate your situation. Are there new deductions you can take advantage of? Have your financial goals changed? Are you anticipating changes in tax laws that may impact your strategy?

Delegate, stay committed: If you run a business or run a company, you probably already work with a team of experts to help you with the financial side, including tax advisors, CPAs and lawyers. Delegating detailed work to these professionals is a smart move, but that doesn’t mean you should go out of the loop completely. Stay involved in high-level discussions about your tax strategy and make sure you understand how their recommendations fit into your overall financial goals.

Make taxes less stressful

Taxes and Decision Making: Whether you are purchasing new equipment, considering an expansion, or even making personal investments, it is important to factor taxes into your decision-making process. Understanding the tax implications of important decisions will help you avoid surprises in the future. For example, purchasing new equipment for your business may offer immediate tax benefits through deductions or credits, but it is also important to consider the long-term financial impact.

Structuring Pay Smartly: As a business owner or executive, how you perceive your compensation can have a big impact (TP1) on your tax liability. From salaries and bonuses to stock options or retirement contributions, different forms of compensation have different tax consequences. It’s worth working with a financial planner or CPA to ensure your compensation package is structured in the most tax-efficient way possible. Small changes here can lead to significant savings over time.

Managing stress

Calm under pressure: Let’s face it: taxes can be stressful, especially if you don’t feel prepared or sure what to expect. But allowing that stress to get the best of you can lead to poor decision making or even avoidance. By staying calm and practicing mindfulness during tax season, you will be better equipped to make clear-headed decisions. This can be as simple as setting reminders to start early, organizing your paperwork throughout the year, and keeping lines of communication open with your advisors.

Clear Communication: One of the easiest ways to avoid tax-related stress is to make sure everyone involved in your tax planning is on the same page. Whether it’s your accountant, your financial planner or your business partners, clear and open communication ensures nothing is overlooked. This not only reduces the chance of errors, but also makes tax season a much easier process for everyone involved.

Personal and business tax needs.

Tax Strategies: If you’re a business owner, it’s easy to get caught up in the daily demands of running your business and forget how your business’s tax strategy affects your personal finances. Successful executives and business owners think holistically about their tax planning. Are your business decisions aligned with your personal financial goals? For example, if your goal is to save for retirement or invest in real estate, your business tax strategy should support these goals.

Keep it simple: You don’t need to become an expert in tax law, but you do need a strategy. Simplifying your approach by setting up automated payments, working with trusted advisors, and establishing clear routines can make tax planning much more manageable. This will free up your time and energy to focus on growing your business and achieving your personal financial goals.

Key questions

Here are some questions you can ask yourself to change the way you think about taxes:

— “Am I thinking about taxes as part of my overall financial strategy?”

—“What small steps can I take now to make tax planning easier in the future?”

— “Who can I trust to help me with the details while I focus on the big picture?”

Thinking about the future

Stay Informed: While you don’t need to become a tax expert, having a basic understanding of how taxes affect your business and personal finances will help you make better decisions. Don’t hesitate to ask questions, read about new tax laws, and stay informed so you can take advantage of opportunities as they arise.

Plan for the future: Taxes play a role in many of the important decisions you will make, whether you are planning for retirement, thinking about succession, or growing your business. By staying proactive and planning ahead, you can avoid surprises and ensure your tax strategy supports your long-term goals.

By shifting your approach to taxes—from mindset to actions—you can reduce stress, stay in control, and even unlock new opportunities for growth. Taxes don’t have to be a headache; With the right strategy, they can be a valuable tool for your personal and business success.

Patti Cotton serves as a thought partner to CEOs and their teams to help them manage complexity and change. Contact her at [email protected] .