TAX PROCRASTINATION: SURVEY FINDS 29% HAVE YET TO BEGIN TAXES. Fear of Negative Outcome Sited as Number One Reason For Delay

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A survey conducted by the Gail Kasper Consulting Group found that 29% of respondents had yet to begin their taxes with the filing date just under three weeks away. The top two reasons for taxpayer delay: a fear of owing the government money and poor time management skills. The survey echoes similar data from H & R Block that indicates almost 40% of all Americans in 2002-2003 waited until April to file their taxes costing themselves $400 due to the mistakes made by rushing and last minute changes.

A survey conducted by the Gail Kasper Consulting Group, a leading sales training and coaching company, found that 29% of respondents had yet to begin their taxes with the filing date just under three weeks away. The top two reasons for taxpayer delay: a fear of owing the government money and poor time management skills.

The survey echoes similar data from H & R Block that indicates almost 40% of all Americans in 2002-2003 waited until April to file their taxes. Interestingly, by procrastinating many taxpayers cost themselves money while the government earns interest on their refunds. According to Denise Sposato of H&R Block, the average tax procrastinator will cost themselves $400 due to the mistakes made by rushing and last minute changes. That resulted in more than $473 million in overpayments in 2002. (2002 GAO Report).

The procrastination survey, which was completed by a random group of 100 adults, asked respondents to list the top three tasks they are currently procrastinating and identify their reasons for doing so. The survey also uncovered several other significant areas of procrastination including ‘visiting a doctor’ and ‘saving for the future’.

The top responses and their corresponding reasons for procrastinating include:

Doing Taxes (29% procrastinate)

1.) Afraid of negative outcome (33%)

2.) Poor time management (33%)

3.) No discipline (17%)

Saving for the future: (42% procrastinate)

1.) No Discipline (46%)

2.) Poor time management (21%)

3.) Misinterpretation of info (not having all the facts) and Afraid of negative outcome tied at 13%

Going to the doctor: (43% procrastinate)

1) Dislike of event (35%)

2) Poor time management (31%)

3) Afraid of negative outcome (17%)

“Procrastination has numerous causes and generally one outcome: stress,” said Gail Kasper, President, Gail Kasper, LLC. “The goal of the procrastinator may be to simplify things or to “not deal with” something as long as possible. Unfortunately, it can add an enormous amount of anxiety and stress into their life resulting in depression, low self esteem, an acceptance of mediocrity, or limiting what they are capable of achieving – all of which is perceived by the individual as failure.”

To overcome the procrastination trap Kasper recommends keeping a simple acronym in mind: PERSIST

For example: PERSIST to get taxes done:

Prioritize

Commit to a list of your priorities with taxes on top. Taxes are one of the few things you must do in life and the repercussions of not doing them are severe. If you're lucky, there is a positive result and a return. If you owe, wouldn't you rather have a little more time to get your finances in order? Making taxes a priority will put money in your pocket sooner or give you the extra time to get your finances together.

Enroll

Enroll a support person. This may mean using this as an opportunity to spend some time with someone you care about and then providing a good deed in return or taking a class on how to do your taxes, hiring an accountant, or using a firm like H&R Block to make your job a little easier.

Record

·    Record action steps - Make a list of all the action steps that must be taken. These action steps should include designating an area to do your taxes, separating receipts, grouping business/ personal records etc...

·    Record the impact of completing/ not completing your taxes - How will you feel? Organized? Accomplished? Richer? If you don't complete them what will happen? Penalties? IRS headaches? Will you wake up every morning worrying about them as the deadline looms?

·    Record a reward - When you have finished your taxes, you must have a reward.

Schedule

Schedule the first action step(s) by blocking the time in your planner. Identify and block the most immediate date available. Block a 90 minute time slot to get started with your first action step(s). This blocked time is not to be interrupted by anything. No phone calls, no Internet - just taxes.

Immediacy

Immediately after completing your blocked time, check it off in your planner to gain a sense of accomplishment and then immediately "block the time" in your planner to continue/ finish the task.

Stay the course

You may get off track by handling other work-related or household deadlines and the added pressure may call for a much-needed stress- relief break. Block the time to laugh a little, exercise, eat a balanced meal, or share the challenge with a friend - then get back to your planner and block the time to get started again.

Track

Track your progress and give yourself the reward you recorded when your taxes are done!

For more information please visit http://www.gailkasper.com

About Gail Kasper LLC

Gail Kasper is a high-energy training and motivational speaker whose mission is to inspire individual achievement. An internationally renowned presenter, Gail’s motivational talks, leadership techniques and sales programs have been used by multi-billion dollar companies, top CEOs, and professional sports teams In addition to her inspiring training and talks Gail is also an in-demand television personality who co-hosted the Emmy award-winning America's TV JobNetwork (airing on CBS and Fox), and currently hosts The Visitor's Channel. Coupling a business degree with advanced psychology studies Gail is a certified trainer with many nationally recognized training groups. For more information please visit http://www.gailkasper.com

About Satient Marketing Communications

Satient Marketing Communications is a full-service marketing/ advertising firm providing integrated programs in Brand Identity, Promotion, Sales Support, Corporate Collateral, and Market Research. Satient's mission is to deliver compelling communications that increase sales and brand awareness. That means clearly defining meaningful objectives, developing effective strategies, executing flawless tactics, and measuring results. We do this through an integrated program of marketing communications that is built around a brand promise and supported with dynamic, targeted creative. For more information visit http://www.satient-marketing-communications.com

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To arrange an interview or appearance with Gail Kasper please contact:

Don Mennig

Satient Marketing Communications

dmennig@satient.net

+1.610.348.7194

http://www.satient-marketing-communications.com

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