CPA Voice: Charging extra thanks to TCJA

One of the trickiest parts of this year’s busy season has been calculating how properly compensated for the additional work required for 2018 tax returns.

“The Tax Cuts and Jobs Act was one of the most sweeping tax law changes in a generation,” writes Bob Woolley in the March/April issue of CPA Voice. “This has put tremendous pressure on tax professionals to get up to speed and then determine how these changes impact their clients. However, it’s very common for clients to hold the belief that “This is your job, and you should just know this stuff.”

Although it is the professional’s responsibility to learn the new law, Woolley says that it’s equally important to be compensated for the additional time you spend understanding how this law applies to your clients. The key, he says, is convincing your clients of that.

Read the article now for tips on how to approach this conversation with clients.