2008 Mid-Season Update: Smooth Sailing Ahead
Tax practitioners appear well-positioned at the halfway point for the final days of Busy Season 2008.
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To comment, contact Rick Telberg here.
With data from the latest two weeks ending March 29, the trend lines are:
- Stress levels at mid-season have eased from earlier in the season.
- We’re seeing week-by-week improvements in profits and client traffic.
- And early-season problems with technology, software and workflows are diminishing as we head into the final stretch.
Specifically:
- Professionals reporting the most extreme cases of stress are down, to 18% of all respondents from 21% early in the season.
- Some 46% are reporting that this year’s busy season is running “better than last year,” compared to 36% in early season.
Key metrics are improving:
- 67% are reporting increases in net profits, up from 62% at mid-season.
- 70% are reporting increases in the number of clients served, up from 63%.
- 43% are putting increased numbers of clients on extension, up from 28%. And,
- 61% are reporting increases in profit per client, up from 58%.
Meanwhile, gains in revenue per client are holding steady, with 64% of practitioners reporting year-over-year advances. Only year-to-year comparisons of revenue have declined, to 66% at mid-season from 70% early on.
To comment, contact Rick Telberg here.
….
Join the survey; get the updates.
To comment, contact Rick Telberg here.
….