tax season madness

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3 Critical Pre-Tax Season Tips

Congratulations on completing the March 17th deadline! I hope you had the opportunity to reward your team (and yourself). Here are 3 tips to think about:
1. Capacity planning: Take some time to determine which clients you are going to extend now and who you are going to complete.

2. Communicate: Develop a communication plan to let those clients know they will be extended. It is much better to let them know in early April than close to the 15th.

3. Celebrate wins: Plan an incentive/reward for April 15th including a team celebration.
Planning is critical for tax season sanity.

“When you establish a destination by defining what you want, then take physical action by making choices that move you towards that destination, the possibility for success is limitless and arrival at the destination is inevitable.”- Steve Maraboli

The best people to ask about your performance are your team

Stop the madness! How not to repeat last tax season

How are you making your Firm its #1 Client?

Hello.  I presented a webinar to a group of firms last week which included a polling question asking them to respond to the question about which Profit Driver they need to focus on the most.

Interestingly, 60% (Wow!)of the firms responded we need to work on Making our Firm the #1 Client, which leads me to a question for you and your firm as you think about and prepare for next tax season:

  • What practices are you employing that are Making the Firm the #1 Client?
  • What practices are you employing that are NOT Making the Firm the #1 Client?

As a reminder, the best people to ask are your team members!

Related article: Stop the madness! How NOT to repeat last tax season!

Stop the madness! How NOT to repeat last tax season!

Time to put a stop to tax season madness!

Time to put a stop to tax season madness!

4/15 and 9/15 have been some of the most stressful in years for tax practitioners.

To get on top of that, we know many firms who held tax season debriefs to get some things off their chests and develop actionable items around the issues of clients, technology, team and creating value.

Thinking about the forthcoming tax season, one of the matters to focus on is how CPA firms allocate their time in a way that reflects their values, strengths and vision for their life and firm, and examining if they might be holding onto old ways of thinking, or doing business that limits their abilities.

Thankfully, there are some questions that CPAs can ask now

This is not intended to be an all-inclusive list, but will get the conversation moving and help determine how your firm might be better equipped:  Read More…

Do not let bad customers drive out your good team members!

Do not work unprofitably.

Do not work unprofitably.

You may have heard me quote Ron Baker, “Do not let your bad customers drive out your good customers”. That statement is still relevant today.

We now need to be extremely mindful and action oriented that we do not allow bad customers to drive out good team members.

Let me explain.

The past 4 business days I have been contacted by 4 firms where the Partner asked me for advice regarding a team member who came to them after 9/16 (word on the street is it was very painful) and said, “Mr. or Mrs. Partner. I can’t work the hours anymore.”

Here are key variables:  Read More…

Moving forward in tax ‘off season’

Congratulations again on the end of tax season! 

Tax 'Off Season'

Tax ‘Off Season’ kicks off right now

I hope it was successful and that you have a few days off (if not more) planned in the very near future!

Going into the “off season” one of the matters we are going to be focusing on and dialoguing about is how we allocate our time in a way that reflects our values, strengths and vision for our life and our firm?

We will also examine if we are holding onto old ways of thinking, or doing business that limits our abilities.

Just a few thoughts to ponder as you have some time to think!

Planning a tax season debrief with your team?

Hello and Congratulations on the end of tax season!

Office workers in meeting

Let your team get things off their chest

I know many of you are planning a tax season debrief with your team. The outcomes are typically two-fold:

  1. Let your team get some things off their chest.
  2. Develop an action item list.

Of course, the session needs to be constructive and do not let the team focus on the negative.  In order, to keep it positive always ask what went well with the function and ask that your team be constructive.

Here are some questions that you can ask.  This is not intended to be an all-inclusive list. It will get the conversation moving and you need to customize for your firm. Read More…

What TLAs and rodents have to do with managing your firm

RATS!

RATS!

I am not sure if this is original content but I was going back and forth with a firm and I asked would you like to address the issue now or ATS.

The Managing Partner asked me what is ‘ATS’?  I said After Tax Season.

He said, let’s do it RATS (Right After Tax Season).

My hunch is your RATS list of personal and professional items is gathering steam.  Well, now you have your acronym: RATS!