Topic: tax season

CPA Trendlines Forum: Tax Season Prep Tips?

Readers’ Forum: Hours worked. Firing clients. Setting prices. Chris Basom, managing partner of Your Money Matters in Mission Viejo, Calif., wants to know the “one thing you wanted to implement before tax season but just couldn’t get to.” “Is cash still relevant?” asked solo practitioner Roxann Otto of Otto Tax & Accounting Services in Slinger, Wis. Charles G. Read in the Melbourne, Fla., area would like to know how other accountants arrive at the charges they present. Deborah McDowell Cain of her eponymous firm in Fort Worth, Texas, asked, “Does your firm work five, six or seven days a week? Is overtime for staff mandatory? Are senior staff hourly, salaried, offered overtime or comp time?” And harking back to the busy […]

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As Market Share Slips Away, Accountants Look Beyond the 1040

Last-minute surge closes Busy Season 2014 with strong gains in e-filing. By CPA Trendlines In a late-season rush, tax professionals eked out their first volume gains in three years, and continued to lose market share to do-it-yourselfers, according to a preliminary new analysis by CPA Trendlines. The data shows professionals e-filed 69.99 million returns by April 18, a 6.5% year-over-year gain and a remarkable last-minute surge after running behind all season. As late as April 5, accountants had still filed 0.7% fewer returns than the year before, and were closing the gap, behind 0.3% by April 14. But many of the nation’s professional tax preparers see a day coming soon – if it isn’t already here – when they will […]

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NEW ANALYSIS: Tech Drives Tax Season Growth

Accountants gear up, from paperless to cloud. By CPA Trendlines Many of the most successful accountants in tax season 2014 found new growth and profits by leveraging new cloud and paperless technologies, according to the CPA Trendlines Busy Season Barometer. Join the survey; get the results. Today’s bonus question: Plans for 2015

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Efiling by Tax Professionals Declines by 207,000 Returns

Through April 11, with only days to go, the nation’s professional tax practitioners had efiled almost 62 million returns, down about 207,000 from the same time a year before, or 0.3%. That may represent something of a last-minute recovery, considering that at one point in the season the profession was behind by as much as 5%. Meanwhile, the number of self-prepared returns climbed 4.5% to 39.3 million.  

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Celebrating the End of Tax Season 2014

Some of our favorite comments from some of our favorite readers…

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Tax Season Success Drivers: Better Software, Easier Clients, Higher Billing Rates

Annual CPA Trendlines Busy Season Barometer…

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Tax Professionals Plagued by Tough Competition

Trials and tribulations…

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David Letterman’s Top Ten Accountant Pet Peeves

[CLICK TO PLAY]

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When Is It the Reviewer’s Job to Fix Preparer Errors?

QUESTION: Your book recommends having the preparer fix all errors. However, this is not always possible and our main concern is to get the returns out, so we usually have the reviewer make the changes, except if it looks like there will be extensive changes. Isn’t this the way we should do it? RESPONSE: I receive the most comments about this issue, so I usually spend a lot of time rethinking this.

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