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10 posts from February 2019

Hey managers! Your staff is stressed, and busy season isn’t entirely to blame

Shutterstock_420082801The symptoms of the flu are easy to spot: fever, cough, body ache, fatigue. When one of your employees has it, you know it. During busy season, there’s no contagion more dreaded – it can tear through your office and derail your productivity in a flash.

Well, that’s not true. There’s one thing more dangerous that’s out to infect your firm.

Stress is one of the top killers of productivity. Estimates suggest that about 550 million workdays are lost every year due to it. Compared to the flu’s 17 million lost days, that hand sanitizer on your desk may not be keeping your firm as healthy as you thought.

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Public speaking tips from the 91st Academy Awards

Shutterstock_1178502256It is highly unlikely that you’ll live a life free of public speech obligations. Team meetings, board meetings, pitches, presentations, toasts and the like, will all call on you to dig into yourself (extrovert or not) to publicly drive home a meaningful message. Consider this ability to connect to people, and move them with your words, one of the skills you’ll need to remain an asset in future workplaces.

So how do we keep from becoming the living version of Charlie Brown’s boring, seemingly gibberish-speaking teacher? We watched the 91st Academy Awards and took notes from some of the best presenters and speeches to help you get it right. Here are five tips from Oscar-winning pros:

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Busy season grind got you down? 3 ways to reenergize.

Shutterstock_376060666Late nights. Working weekends. Scads of electronic files. If you’re REALLY unlucky, stacks of paperwork. No one ever said busy season was a walk in the park, but you don’t have to let it sap your energy. And since the season doesn’t get easier as it goes, you need all the energy you can get. What’s a busy CPA to do to? We have three suggestions to help you beat back the busy season blues.

  1. Get organized

This might sound pretty basic, but the realities of good organization are more complex than you might think. You likely already have a system set up for getting your work done, whether prioritized by clients or groups of clients, promised engagement due dates, etc. But are you thinking about that system on a daily basis?

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Emotional rollercoaster: The psychology of starting a small firm or business

Shutterstock_78267379Do you feel destiny may be calling you to something? Perhaps you’re thinking about a long overdue job change. Maybe you’re being tapped for partner or you’re exploring starting that firm you’ve always wanted to build from the ground up. As you’d expect, starting a firm or any business comes with many intricacies. Some are big details, like funding and office space, and building the right client base. Other details can wait, yet are still important, like setting up utilities, registering with your federal, state and local governments and regulatory boards (if applicable) and marketing your business.

One thing you might not have considered as you think about branching out is your own mindset. What’s keeping you from moving forward? There’s a psychology to owning your own firm. Here, we explore emotions, from fear and uncertainty to courage and enthusiasm.

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Staying in love with your significant other – who’s also your business partner

Shutterstock_570149110It’s Valentine’s Day, and you deserve a virtual high-five for being extra thoughtful this year. You put together a romantic dinner with candles, music, their favorite dessert – the whole nine yards.

And then you hear the love of your life, your main squeeze, yell from the shared home office, “Hey! Did you remember to pay the contractor?” Well, so much for that intimate evening sans work.

Turning your romantic partner into a business partner might sound like a struggle, especially when it comes to setting boundaries. However, with the right amount of agreed-upon expectations from the start, coupled with consistent, proactive and honest communication along the way, it is possible to succeed in both love and business.

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How you can help states protect your CPA license

Advocacy blogShould the government license professions? It’s not a new question, but states across the country are taking new action in 2019. More than 30 states are considering legislation that would reduce or remove professional licensing requirements. CPAs are not exempt from this legislation.

These proposals represent a huge threat to CPA mobility. Right now, CPAs can work across state lines in 53 U.S. jurisdictions without providing any notification or paying any additional fees. CPA firms can operate the same way in 26 states thanks to CPA firm mobility.

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How a CPA can help KonMari your finances

Shutterstock_736968295Anyone else feel a tad bit inadequate after watching “Tidying Up with Marie Kondo” on Netflix? If you haven’t heard of the series, during each episode, organizing expert Marie Kondo helps clients clear out clutter in their lives with her KonMari method. Before watching I thought I was a relatively neat person, but now I have a tiny voice in my head yelling, “WOW, STAND THAT UP VERTICALLY, YOU SLOB,” every time I put away laundry.

But enough about me. Let’s talk about how we can apply some of Kondo’s tactics to another aspect of life that may need some work: money.

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6 funny TV shows that do taxes better than you do

Shutterstock_713060872There are 77 days between the start of busy season and the April 15 deadline this year. That’s an uncomfortably long — or as some would suggest, uncomfortably short — amount of time for taxes.

It just so happens that 77 days is also the total amount of time the average American adult spends watching television every year. If you’re a tax practitioner, you’re probably not getting a lot of those days in right now.

During busy season, you have a limited number of hours to watch the best programming available. You need to be sure you’re taking advantage of the precious free time you have and getting only the good stuff.

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5 reasons to keep your procrastibaking habit during busy season

GettyImages-545807004If you’ve been on Instagram lately, you’ve probably seen posts tagged with #procrastibaking. If you aren’t familiar with the term, to “procrastibake” is to put off doing something you have to do in favor of baking. The term was featured in a New York Times article back in May and has increased in popularity ever since. And it’s a pretty likable concept – if you are a fan of sweets and don’t mind getting your hands and your kitchen a little dirty.

Sometimes you just need a break, and as you delve deeper into busy season, you may find that periodic diversions help you get more done. But why spend this time baking?

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IRS transcript changes: What to do now that busy season’s here

Shutterstock_1099316927Busy season is here.

If you’re a tax practitioner, you’re no doubt gearing up for what lies ahead. A big part of busy season prep is making sense of the recent changes to IRS transcripts and the resulting steep transcript learning curve. You may be wondering if you can still get the information you need to serve your clients.

While complex, cumbersome and somewhat confusing, transcripts are incredibly helpful. Authorized tax practitioners can assess a taxpayer’s overall standing with the IRS by reviewing one or a combination of four types of transcripts: tax return, tax account, record of account, and wage and income.

Continue reading "IRS transcript changes: What to do now that busy season’s here" »

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