Some of our favorite comments from some of our favorite readers…
Annual CPA Trendlines Busy Season Barometer…
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.
QUESTION: What do you think is the key to a successful tax season? RESPONSE: There are many things needed for a successful tax season, but training and supervision are at the top of the list. This is being written in the heat of the tax season crunch and I don’t know many people who will change their procedures at this stage, but the truly successful practitioners will adapt and make changes as soon as a change is indicated. It’s called OJT – on-the-job training. It works. Ed Mendlowitz is the creator of The 30:30 Training Method
By Ed Mendlowitz When you perform additional services on a tax return that you will be charging for, list it as a separate item along with the fee for that service. This way the client will know that something extra was done and the charge.
12 easy traps to fall into. By Ed Mendlowitz Practice Management Answers QUESTION: It is tax season and I am inundated with work. Do you think it is proper to tell regular clients that I will deal with their problems after April 15?
It’s better than last week’s 704,000-return deficit. But IRS data shows the professional tax preparer industry is still running behind year-ago rates, with 48.8 million returns e-filed in the latest week, compared to 49.2 million in the year-ago period.
By Ed Mendlowitz Top 101 Practice Management Answers QUESTION: It is tax season and I am very busy, but many clients need financial planning advice and I want to make it a separate engagement for after tax season. What can I do now to get the work?