12 ways CPAs can benefit from tax season

Posted on Thursday, January 2, 2020 by Nicole Fracasso

Tax season can be stressful for CPAs and accountants, but with this time also comes exciting opportunities for firms and their staff to enjoy. In a recent article from CPA Trendlines, Ed Mendlowitz discusses 12 ways to have more fun during tax season.

Firstly, Mendlowitz believes a lot of the pressure people feel during tax season is self-induced by “poor scheduling, inadequate quality control and the lack of uniform systems that are followed by everyone in the firm.” He says if accountants manage their workload sensibly, they can appreciate tax season for being one of the most profitable times of the year.

Next, Mendlowitz says that the large workload creates an opportunity for staff to grow and learn how to utilize new resources such as technology.

“CPAs were among the earliest adopters of email, high-speed scanners, second monitors, portals and secure internet transmission,” said Mendlowitz.

Third, it allows the tax preparation portion of practices to continue developing products, improve efficiency and upgrade programs.

“It is a mini idea factory for our firms with continuous efficiency and quality control initiatives,” Mendlowitz said.

Fourth, the workload helps the staff become more well-rounded and knowledgeable.

“With most business clients, the only people dealing directly with clients are the managers and partners,” Mendlowitz said.

During this time, it’s not uncommon for an employee who isn’t a manager or partner to interact with the clients and gain more information as a result, according to Mendlowitz.

Another way CPAs can benefit is through tax law changes. Since these laws change on a regular basis, it creates a “level playing field,” says Mendlowitz.

Mendlowitz also believes that tax season allows CPAs to meet people who can possibly become clients. Since the CPA has been busy at work, they can answer questions more easily because the information is most likely at the front of their mind.

“Taxes lead you to the best opportunities to get new clients,” he said. “This can be proven by tracing the family tree of your largest clients.”

Tax season can also be used as a “relationship builder,” says Mendlowitz. He believes that it’s common for a person on staff to interact with dozens of clients during tax season.

“In a professional services firm, relationships are currency,” he said.

In addition, Mendlowitz also empathizes that CPAs often get free dinners from working late, they don’t have to deal with rush hour traffic and can avoid going to social events they don’t want to attend since everyone knows they’re busy with tax season.

Lastly, Mendlowitz simply says that tax season is fun, and more firms can benefit from focusing on the positive aspects of it.

“Those who stay in the profession past the initial few years are happy campers rarely regretting their career decision and path,” he said. “Transmit those feelings!”


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