7 tips for taking control back this tax season

Tax season is as inevitable as… … taxes. It comes around every year. We plan for it, look ahead to it and have all of our resources focussed on it. So with all that in place, why does it bring so much stress and busyness and the inability to focus on any other important parts of your business?

Tax season is a giant drain to you, your team and the growth of your company.

It’s not the client’s fault, the government’s fault or because of COVID or other external factors. It’s because you allow it to be.

The good news is that it doesn’t have to be this way.

If you want to take control of your tax season then take control of it. Set your terms. Schedule everything in. Get proactive with your clients. Afterall, it’s your business not your client’s business. Do business on your terms, by your rules.

Although you’re already in the midst of it, it’s not too late to make changes that will serve you and your team.

Here’s how to make it possible with 7 tips for taking control back this tax season:

  1. Bill all clients upfront.
    a. If you haven’t done so already get those invoices out there before you do any more work
    b. Don’t do any work on or stress about late clients that haven’t paid upfront
  2. Don’t allow the closing date to become an avalanche
    a. Provide staggered deadlines by scheduling clients.
    b. Send all clients a letter or email that their returns are scheduled for week x
  3. Automate Data Follow up Communications
    a. If documents are incomplete, let your computer system do the grunt work
    b. Don’t accept followup meetings until all paperwork is in
  4. Look after your team
    a. Working late and working overtime is not good for anyone
    b. It is symptomatic of a need to improve systems and enforce scheduling
    c. Make sure they take time off and have a good work life balance
    d. Don’t allow your client’s disorganization be the reason your team have to put in overtime
  5. Use this time as an opportunity to uncover additional client needs
    a. Let your clients know you want to follow up and speak with them again in May. Create a follow-up sales list for after tax season and reach out to all of the clients for additional services you can provide them.
  6. Take some time off
    a. When you create the client work schedule, schedule in some weekends for yourself.
    b. Your family and friends need you too and they need you at your best
    c. This business should work for you, not you working for it.
  7. Outsource all the minor tasks and annoyances
    a. You don’t have to do everything. Take control by automating and delegating tasks that a junior, or offshore person could do
    b. Balance your out of office work by hiring professionals i.e. lawn mowing to free up your leisure time.

None of these are hard to implement. With your head down in tax season, you need to immediately create changes to make your life, your team’s lives and your clients’ life easier.

You are the trusted professional and your clients pay you for guidance.

Set the boundaries, make the rules, take back control and make this tax season the best yet.

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