Tax Pro’s Turn Negative on Busy Season

Washington brinksmanship spells big crunch for preparers. Join the survey; get the updates.

Source: CPA Trendlines / Join the survey; get the updates

by Rick Telberg
CPA Trendlines Research

With Tax Season 2013 delayed by last-minute code changes, staffing problems and software glitches, the mood of the profession is turning markedly sour.

“IRS delays will cause confusion and errors, and many upset clients,” says Charles Postal at Santos Postal, a five-partner firm in Rockville, Md. “More extensions will depress cash flow.”

At the same, Postal adds, “Clients will have more tax needs, but the struggling economy will depress their ability and desire to pay for services.”

In order to battle the business pressures, Postal’s firm is “pushing back on fees, using standardized billing by product rather than hours, and adding on charges for technology, audit and tax notice insurance.”

READ MORE →

Nine Healthy Things To Do During Tax Season

How to be at your best through April 15th.

Tax season can be a marathon. Everyone has their own tips and tricks, habits and techniques for staying sane and healthy. Here are 10 from CPA Trendlines contributor Ed Mendlowitz:

  1. Eat lunch out of your office.
  2. Go for a 15 minute walk in middle of afternoon instead of eating a snack.
  3. Take off either March 17 or 18. READ MORE →

SURVEY RESULTS: Busy Season Outlook 2013

What accountants talk about when they talk about busy season 2013

Mergers, tech and the economy create a volatile mix in forecasting filing season.

by Rick Telberg
Join the survey; get the updates.

Washington gridlock, last-minute tax changes and continuing economic uncertainty are undermining tax professionals’ outlook for the 2013 filing season, according to new CPA Trendlines survey results.

The new survey results shed light on:

  1. The changing mood of the profession and it’s leading competitors and decision-makers,
  2. The effects of mergers and new technologies,
  3. The chief operational, competitive and economic concerns,
  4. Expectations for key financial metrics, including revenues, profits and number of clients, and
  5. The strategies firms are implementing to cope with the issues and opportunities.

Despite political gridlock and economic uncertainty, practitioners are trending increasingly confident about how well their firms will perform this season. Most are looking at advances in total revenue, net profit, number of clients, number on extension, revenue per client, and profit per client.

For example: READ MORE →

Five Ways for Partners to Lead by Example this Busy Season

Dustin Hostetler

This busy season will test new processes – and a firm’s leadership. [How are accountants feeling about about busy season? Join the survey; get the answers.]

by Dustin Hostetler
Flowtivity

As many firms get ready to implement and leverage new and improved processes as busy season ramps up, I thought It’d be worth considering a few pointers for the partner leadership group to keep in mind over the next several months.

RELATED: The Coming Storm in Staff Turnover (VIDEO)  | Three Strategies to Improve Buy-In for Change

And I should probably add a disclaimer to take the accounting hats off for a minute and realize this isn’t an exhaustive list nor is it literal in every example.  There are always going to be exceptions, but the more you can abide by the following ideas the better off your firms will be and you’ll be providing better client service as well. READ MORE →

The Real Election Day Winners? Accountants

What the election means for busy season:  Join the survey, get the answers.

by Rick Telberg 

The re-election of President Obama may sweep away a few uncertainties in tax and economic policies that have been stymieing business decision-making. But it also sets the stage for a very busy busy-season, complete with last-minute changes in code and forms.

And I’d be surprised if the partisan gridlock in Congress suddenly loosens. READ MORE →

Tax Season 2012: Lessons Learned

Plans for 2013 center on tighter management, new investments. by Rick Telberg After one of the best busy seasons in years for most practitioners, many are laying plans for an even better 2013. Based on lessons learned this year, practitioners … Continued