Mark Hunter offers Creative Business Management, Accounting, Tax and Business Services.

Oh my God! April 15th is breathing down my neck again and there's nothing I can do about it." Well, it's still off somewhere in the not so distant future so there's no need to fret. And, of course you can always get an extension.

For us lucky few, filing a tax return is merely an annual ritual that requires minimal effort and creates little anxiety.

But for many of us, this annual obligation creates turmoil, stress, panic and fear. This can be especially true for small business owners or, more aptly put, the Schedule C filer.

Essentially, a Schedule C filer is a self-employed person to some degree or another. You may utilize your gifts and creativity to enhance the lives of others on a full time basis. Or, it could mean that you pick up additional income moonlighting as a singer on the weekends, maybe you operate a small hypnotherapy business on the side, make jewelry at home and sell it at flea markets. It may mean that you have a full-fledged business with a storefront and everything. Whatever the case, YOU are responsible for paying BOTH the employee and employer share of employment taxes for yourself.

I mention this because it illustrates an essential point and underlines a basic philosophy on which the tax code is written and perpetuated.

Essentially, that YOU are a business who employs YOU.

Successful (and solvent) businesses create wealth and maximize their tax advantages by realistically assessing and recording exactly what it COST them to generate the income they report.

As a Schedule C filer, it is vital to envision yourself as a business. Sure you can count your money all day (if you're one of the lucky ones), but have you realistically taken into account everything you invested to make that money? Or just as importantly, are you investing your resources wisely?

What have you spent that can properly be considered a business expenditure? What can you deduct? What can't you deduct?

For instance, to reward the commitment to home ownership, the tax code provides that interest payments on your mortgage are deductible. The interest on credit card borrowing is NOT deductible. However, if you take a loan using your home as collateral, that interest is deductible. Right? How about if you use your credit cards for business purchases? Is the interest on that deductible?

Hopefully you are considering just exactly what it cost to operate your business. And equally important, that every single cost is presented accurately on your tax return? As complicated as the tax code may seem, it does have an underlying philosophy which tries to promote certain investments and behavior. The more fluent and aware you are of what this philosophy is the better business investment decisions you can make and the more plausible the whole scheme becomes.

Every year Tax Code changes create more confusion and opportunities for taxpayers. Tax professionals enhance the need for their services because of these changes, creating the impression they are more indispensable than ever. Fortunately, with the advent of sophisticated tax programs, unsophisticated tax filers have more opportunity than ever to take advantage of every deduction, exemption and credit offered in the code by doing it themselves. All the changes in the code are logically presented as possibilities as the return is completed.

Confusion and anxiety are the byproducts of uncertainty and mistrust. If you require the services of a tax professional to guide you through the process then by all means hire someone you are fairly certain you can trust. If possible, get somebody who shares your values and is sympathetic to your vision. Also get somebody who knows what they are doing! Competence cures confusion and alleviates anxiety every time. Good luck.