I am extremely frustrated because of taxes. How can you still stay motivated??

[niklas]

Hey guys,

so I worked a lot in the past years and managed to generate some revenue. Its not that much, but enough that they now want thousands $ of taxes from me. It makes me extremely angry, that I have put so much work, time and energy into something (probably had an hourly rate of a few dollars) and now someone just takes half of it from me. (For reference, I have a full-time job as well, thats why every additional penny earned is taxed with the highest tax rate).

I hate my government, and I would rather burn the money, or donate it to Jeff Bezos, than give it to them. But of course if you don't, you end up in prison. Im am very frustrated and feel that it is very unfair, that I worked so many hours, I sacrificed a lot of free time and even my relationships suffered from it. I probably earned 2 Dollars per hour for all the work and now I get robbed by half of it, so I legit worked for 1 Dollar per hour. Why should I even continue?

How do you deal with this feeling? How do you keep going and not loose your drive through this experience?

 

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[Kung Fu Steve]

Hey guys,

so I worked a lot in the past years and managed to generate some revenue. Its not that much, but enough that they now want thousands $ of taxes from me. It makes me extremely angry, that I have put so much work, time and energy into something (probably had an hourly rate of a few dollars) and now someone just takes half of it from me. (For reference, I have a full-time job as well, thats why every additional penny earned is taxed with the highest tax rate).

I hate my government, and I would rather burn the money, or donate it to Jeff Bezos, than give it to them. But of course if you don't, you end up in prison. Im am very frustrated and feel that it is very unfair, that I worked so many hours, I sacrificed a lot of free time and even my relationships suffered from it. I probably earned 2 Dollars per hour for all the work and now I get robbed by half of it, so I legit worked for 1 Dollar per hour. Why should I even continue?

How do you deal with this feeling? How do you keep going and not loose your drive through this experience?

Germany doesn't tax world-wide income... so leave.

 

[xmartel]

Sounds like you didn't incorporate your business, and are instead setup as a sole proprietor. This is a mistake and the cause of your tax issue. Get your legal structure setup properly.

 

[Kak]

Hey guys,

so I worked a lot in the past years and managed to generate some revenue. Its not that much, but enough that they now want thousands $ of taxes from me. It makes me extremely angry, that I have put so much work, time and energy into something (probably had an hourly rate of a few dollars) and now someone just takes half of it from me. (For reference, I have a full-time job as well, thats why every additional penny earned is taxed with the highest tax rate).

I hate my government, and I would rather burn the money, or donate it to Jeff Bezos, than give it to them. But of course if you don't, you end up in prison. Im am very frustrated and feel that it is very unfair, that I worked so many hours, I sacrificed a lot of free time and even my relationships suffered from it. I probably earned 2 Dollars per hour for all the work and now I get robbed by half of it, so I legit worked for 1 Dollar per hour. Why should I even continue?

How do you deal with this feeling? How do you keep going and not loose your drive through this experience?

You're not wrong, but there's only a few things you can do.

1. Try not to think too hard about it.

2. Seek legal ways to cope, like moving, or choosing a tax advantageous industry.

3. Make more money.

4. Make no money.

Outside of the above decisions, taxes are in your circle of concern. Not really influence.

 

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[Bearcorp]

Don't even want to think about how much extra/needless tax I've paid over the years due to not so great advice in setting up companies, company drawings/dividend payments for Directors etc.. Don't be discouraged @niklas, as @Kak said we either have to make more money so it's not an issue, or make none at all!

 

[Antifragile]

Hey guys,

so I worked a lot in the past years and managed to generate some revenue. Its not that much, but enough that they now want thousands $ of taxes from me. It makes me extremely angry, that I have put so much work, time and energy into something (probably had an hourly rate of a few dollars) and now someone just takes half of it from me. (For reference, I have a full-time job as well, thats why every additional penny earned is taxed with the highest tax rate).

I hate my government, and I would rather burn the money, or donate it to Jeff Bezos, than give it to them. But of course if you don't, you end up in prison. Im am very frustrated and feel that it is very unfair, that I worked so many hours, I sacrificed a lot of free time and even my relationships suffered from it. I probably earned 2 Dollars per hour for all the work and now I get robbed by half of it, so I legit worked for 1 Dollar per hour. Why should I even continue?

How do you deal with this feeling? How do you keep going and not loose your drive through this experience?

I’ve paid literally millions in taxes. And you know what? Elon Musk paid billions!

There are two things in this life that are certain: death and taxes.

Make more money. Hire best tax lawyers/ accountants. Look at the glass half full, not half empty.

 

[Johnny boy]

If you don't file you don't get in trouble you only get in trouble for lying. Being lazy is not lying.

 

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[NeoDialectic]

Most of us here hate paying taxes and don't like having to give our money to a government that may or may not spend it the way we want. But it's the cost of doing business in a civilized society. The reality is you are "standing on the shoulders of giants". In this scenario, the giants are previous taxpayers and the shoulders is the country that was built by them. It's never fun being stood on, but success is one day bearing the burden of becoming the giant! Even if part of that burden is seeing 90% of your contribution being burned uselessly.

@Kak 's response is spot on, as usual. I would do some introspection on why you feel so much frustration. Part of growing a business to a big size is relinquishing control. The struggle you will need to overcome is that other people may not do things how you want them done, but it is still worth it because you only have so much time in a day and it is the only way to leverage. This struggle of yours isn't too different.

Deep frustration comes from a mismatch of expectation and reality. Your issue is that you likely miscalculated how much money you needed to make to hit whatever goal it is that you have. Double it and that's your new goal. Now you can't be mad at the tax man. It's all been accounted for!

Once you've accepted it, calculating how much money you would have had if you didn't pay taxes would be like calculating how much money you would have had if you didn't have to pay your employees or product costs. You could....but it's useless and just an exercise in futility.

 

[KaylynVasquez]

Taxes can feel like a gut punch, especially when you've put in so much effort. I remember feeling similarly frustrated when I faced a hefty tax bill after working tirelessly on a project.

 

[Kevin88660]

Hey guys,

so I worked a lot in the past years and managed to generate some revenue. Its not that much, but enough that they now want thousands $ of taxes from me. It makes me extremely angry, that I have put so much work, time and energy into something (probably had an hourly rate of a few dollars) and now someone just takes half of it from me. (For reference, I have a full-time job as well, thats why every additional penny earned is taxed with the highest tax rate).

I hate my government, and I would rather burn the money, or donate it to Jeff Bezos, than give it to them. But of course if you don't, you end up in prison. Im am very frustrated and feel that it is very unfair, that I worked so many hours, I sacrificed a lot of free time and even my relationships suffered from it. I probably earned 2 Dollars per hour for all the work and now I get robbed by half of it, so I legit worked for 1 Dollar per hour. Why should I even continue?

How do you deal with this feeling? How do you keep going and not loose your drive through this experience?

Then study how you can claim small business assistance packages, which is common in a lot of countries.

Also talk to some people familiar with tax system in your country. If this is your second income being taxed at a high rate consider hiring your retired mom as a consultant to you in this self-employment hustle.

 

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