CPA, Process Improvement

Tax Season is Over . . . Now What?

If you’re a CPA, hopefully you’re taking a vacation, or at least a few days off. As if tax season isn’t long enough, this year it was extended by the Emancipation Day holiday celebrated in Washington, D.C. That added not just one, but three, extra days of long hours, including the final weekend.

 

Now you can take a deep breath and reflect on the past 3-1/2 months and all the opportunities you’ve had to be the unsung hero for your clients.

 

Like the time your client put you through a late night getting their year-end financial statements done so the bank would renew their line of credit. Or, the day you showed up at a client’s office to start their audit, only to find out the controller had resigned, leaving behind a giant mess to sort through.

 

Like the many times you helped clients find deductions they would have missed. Or, when you tracked down the more elusive, procrastinating clients to get extensions filed before the deadline.

 

This is also an ideal time for an in-depth evaluation of your tax season. Whether it was the worst tax season in years, or one of the best, there’s plenty to be learned.

 

Ask yourself and your team these simple, but important questions:

 

  1. What worked well?
  2. What didn’t go well?
  3. Why?
  4. What did we learn for next year?

 

In your discussion, cover every critical element of tax season: staffing, workflow, internal communication, client relations, software, marketing, training, etc.

 

Then, take some time to think about the rest of the year. Yes, there are plenty of loose ends to take care of, like extended returns that can now be filed. And upcoming client year-end engagements to plan for.

 

But don’t make the mistake of only thinking about your clients. What about your business? What can you do the rest of this year that will better serve your clients, but grow your business at the same time?

 

Do you need to address things that are getting in the way of your growth? Are there untapped opportunities to take your firm to the next level? What can you do now, to make this year the best ever?

 

Let’s talk about ways to maximize your talent, build high-performance teams, and deliver extraordinary value to your firm and clients.  

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