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What to pack on your after-tax season getaway

MAINYou did it.

After 11 weeks of nose-to-the-grind work, you’ve successfully put another filing season behind you.

Looking back, you undoubtedly see how this year’s season was like no other. A government shutdown, tax transcript changes, new rules — you navigated them all. You’re a champion for your clients, and you deserve some time to rest and recoup.

However, this respite is limited, and you’ll be back to the grind before you know it.

As time is of the essence, here’s a list of the best places to recharge your batteries. And for a little extra help, you’ll find a few packing suggestions to ensure you have what you need when you get there.

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Your tax practice could be on the edge of greatness. Push.

Shutterstock_712459222If there’s anything the past year has taught us about tax, it’s that getting too comfortable isn’t an option. Even though comprehensive tax reform doesn’t happen very often, it doesn’t take major revisions to the law to keep you on your toes. Fortunately, you can rely on items like the Tax Practitioner’s Marketing Toolkit to help you make sense of changes and engage your clients.

The past year has made for a busy season you’re probably relieved to see coming to a close. But before you break the snorkel and dive mask out of mothballs, or start browsing for the perfect vacation destination, take a good look back to assess your season while it’s fresh in your mind. How much of your work involved looking ahead for your clients? While helping them with tax planning for the coming year, how often did you run across their broader plans for the future? You might be surprised by how your answer can propel your firm to greatness.

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The worst busy season advice tax CPAs ever received

Shutterstock_562475698We can all use a little good advice from time to time. Whether it’s from a manager, a parent or a friend, the right guidance at the right time goes a long way.

Unfortunately, we also end up receiving unsolicited bad advice. During busy season, it’s the last thing tax practitioners need to hear, especially when it references how they should be handling their work and long hours.

You’ve probably received some second-rate advice yourself. As you think back on that, here are a few real-life pieces of bad busy season advice anonymous CPAs reported to us.

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A tax practitioner’s friendly reminder on ID theft

ID Theft blog postYou knew this busy season would be a tough one. But just like every other season before it, you’ve rocked the challenge. With a little more than two weeks left to go, you’re well on your way to a hard-earned vacation.

At this point, what could go wrong? A lot if you’re not paying attention to the security of your clients’ information. 

I caught up with Minh Graham, CPA, of the AICPA Tax Practice & Ethics team, who shared her insights on the top five identity theft issues you should be considering as you head into the final stretch.

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Busy season due diligence comes down to what you don’t know

Shutterstock_753092236I’m a self-professed rule follower. Except for maybe driving five miles over the speed limit on the highway, I sweat to even think about bending the rules. Most CPAs I know feel the same way. We stick to our professional rulebook, focusing on doing our due diligence and complying with each regulation like it’s our personal law. However, it’s not always easy to be a rule follower when you’re in the thick of busy season.

In my opinion, due diligence is all about using common sense, but there are additional due diligence rules — some old and some new — that are important for CPAs to remember during busy season.

Continue reading "Busy season due diligence comes down to what you don’t know" »

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