And 5 ways to get more business tax clients. QUESTION: I need a few more clients for tax season. Any suggestions? RESPONSE: Since we will be getting ready for tax season now is a good time to address this. Here are two checklists, one for individual returns, the other for business client returns. CHECKLIST: 10 WAYS TO GET NEW INDIVIDUAL TAX CLIENTS
QUESTION: This is not a question that an accountant asked me, but a fellow traveler on my vacation. He was using a tax preparation service and wasn’t happy and felt he could do just as well by doing his own tax return. I told him there were many benefits to using a tax professional like a CPA or EA that were well worth the extra cost. So my question to myself is “What are they?” RESPONSE: People with rental property, unincorporated businesses, investments that generate K-1s, grantor trusts, substantial investments in marketable securities or large retirement accounts and 401(k) balances need to engage a professional firm, and this checklist is directed toward those clients.
In Comments, it gets political. By CPA Trendlines Call it what you will – The Affordable Care Act or Obamacare – accountants are calling it opportunity. When we asked recently, “What’s the future of the professional tax preparation business?” a number of respondents called out the Affordable Care Act. “I think as ACA takes effect we will be busier than ever before,” said Jay D. Parks of Jay D. Parks & Associates, CPAs in Edmond, Okla.
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 […]
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
Annual CPA Trendlines Busy Season Barometer…