As tax season approaches, practitioners race to get ready.
How's Tax Season 2018 Shaping Up?
Join the Survey. Get the Results.
TODAY'S BONUS QUESTION:
How will the new Tax Law affect your Busy Season this year?
Rick Telberg, CPA Trendlines CEO, shares the secrets to a successful tax season in a webinar produced by AccountantsWorld.
Based on years of exclusive research and analysis, plus insights and guidance from CPA Trendlines expert authors, Telberg says 2018 could be a make-or-break year for many practitioners.
In this presentation, Telberg covers the key uncertainties facing tax practitioners, including:
- Tax reform
- Health care
- Disaster relief
- The economy
- New competition
"Even the possibility of nuclear war?" Telberg asks. "What else?"
In a poll of the more than 200 tax professionals online for the webinar, 83 percent expressed some concern with Wahington politics affecting Busy Season 2018, including 31 percent who said Washington wrangling "could definitely" throw a monkey wrench into the works. Another 4 percent said they might even get out of the tax business.
In another poll, 32 percent identified last-minute changes in the tax code and IRS operations as a major worry, followed by late or unprepared clients at 28 percent, and security privacy and identity theft issues at 25 percent.
But tax professionals aren't taking it lying down. Some 49 percent say they are reaching out to clients proactively to get a jump on tax season work, with 44 percent accelerating their pre-season planning and 23 percent investing in new software and technology.