BUSY SEASON MANAGEMENT

Tax Season Faceplant: Accountants Overrun by Late Chaos

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Businesswoman with headache at laptop

 

Technology and the economy threw some wrenches into the mix.

By CPA Trendlines Research

This year’s tax season seems to have been pretty good, according to the latest from the CPA Trendlines Busy Season Barometer, though not quite as good as expected.

Survey respondents went into the season with cautiously optimistic expectations. The percentage who felt that this year they were better prepared for the three-month grind remains constant at about 46 percent, comparing December/January with early April.

MORE Barometer: Accountants Turn Negative Amid Tariffs, Trade, Uncertainty | What CPA Firms Could Do Better | SURVEY: Which Client Industries Will Grow This Year | Tax Preparers Share Advice for Your Clients | Staffing, Tech, Prices Top Tax Pros’ Concerns | Tax Pros Gear Up for a Better Busy Season | Tax Season 2025 Begins. Ready or Not.
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But many who figured they were as prepared this year as ever were apparently in for a sad surprise. Before the season, 41 percent said they were prepared as well as in 2024, but that number plummeted to 25 percent by April. The shift is toward the “worse” end of the scale, with the “much worse” response doubling from 3 percent to 6 percent, and “somewhat worse” nearly doubling from 11 percent to almost 20 percent.
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Start Pondering Next Tax Season Now

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businesswoman wearing glasses seated at computer; growth chart on wall

Take what you’ve learned and make your practice better.

By Frank Stitely
The Relentless CPA

Please have a seat. No, not that one. Take the one next to me. All of us are here because we love you to death. We only want the best for you. But we can no longer stand by and watch you suffer. When you suffer, we all suffer as a family. We have written some letters to let you know how we feel. I’ll let your firm go first.

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“Your behavior has affected me negatively in the following manner. I’m not as profitable as I should be. You are stifling the development of your staff. Your clients are upset that returns aren’t getting done on time. Your kids resemble the mailman more than you.

“Please accept the help we are offering you today. We have your bags packed, and we’ll put you on a plane to rehab at the beach. Don’t worry about scoring your next fix. We’ll help you detox safely. But you must decide right now. You must give up your addiction to doing everything yourself.”
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Shorter Turnaround = Happier Tax Clients

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woman with tablet wearing swimsuit sitting in beach lounge chair staring out at ocean

 

Do you know your turnaround time?

By Frank Stitely
The Relentless CPA

Todd Rundgren sang, “I don’t want to work. I just wanna bang on the drum all day.”

I agree with half of that. I don’t want to work. However, I want someone else to bang on the drum all day for me. I’m not that ambitious.

The key to achieving Hall of Fame-level laziness is delegation.

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If I have no ambition to do anything, but want things to get done, someone else must do them. Similarly, effective practice management is putting the right people in the right places accomplishing the right tasks at the right times. That’s a pretty damn good definition of effective laziness as well. There’s a subtle genius in that.
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Four Problems with ‘Quick’ Tax Questions

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They’re not always so simple.

By Ed Mendlowitz
Tax Season Opportunity Guide

I keep a few of the one-volume tax guides in my office so I could look up a quick answer when I need to. Recently a golf buddy emailed me a question that I thought I could answer quickly. He wanted to know that if he was in the “zero” percent capital gains tax bracket, did that apply to an unlimited amount of capital gains? Sounds like a simple question.

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Well I looked it up online and then in three one-volume tax guides. Only one source had thorough coverage of the issue. I ended up spending an hour on this “simple” question including my emailed response. Nothing is simple anymore.

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