Tax Insights

Your Guide to State, Local, Federal, Estate + International Taxation

A midsummer tax meltdown

Remember back when you were a kid in the middle of summer, and it just seemed like there was nothing to do? So you whined, “I’m booooooooooooored.”

Well, the post April tax season and pre-September/October finalization season can have the same effect as the kid you once were (or possibly have right now!)

What is a tax CPA to do during this time? And maybe it’s because we are based in Arizona, but it seems like by the time July hits everyone is out of town. A bunch of the team, a bunch of the clients. Everyone. It is hot, get out of town.

How I spent my summer vacation has been updated for the working world. Here is a snippet of what to do to combat the summer heat and still be productive.

Blogs

Work with the team on getting current data for our Tax Insights blog. We post three times each week, so if we can get any sort of a build up going for us, then it is less stressful when we have more client work to do. We work on either writing blogs or getting topics to other team members to get blogs done.

Performance reviews

Yes, we still do an annual review. We started a process of real time feedback a year ago, hoping to make these evaluations more informative. We update the forms and update the people who are required to have them. We make sure all is still in line with our culture. It is a process. And it is a good time to do it – help set goals for the next year (we have a May fiscal year end).

CPE

We plan and begin executing our internally taught CPE, for one. Those of us that teach a session are working on that, even if it only means having mental preparedness for now and not teaching until later in the year. We are also looking at various webinars for our team. There is always a lot going on in the tax world, it seems.

PTO

Look, if you can’t beat ‘em, join ‘em. Clients are out of town. You can get out of town too. A break is essential for all. It always helps to recharge your batteries.

Client Work

It is true – we did extend more returns on April 15th than we did in prior years. The new tax law did a number on us, for sure, causing time delays in getting work done. So we do have more work in house that in prior years. Also, we send out reports to the team with returns that are on extension, so we can work on getting it done.

Planning for Next Tax Season

It has turned into a year-round plan. What can we change in our processes for next year? What can we change now and test out? Do we need to update or change any software? All these things need to be considered.

Some of our school districts have kids starting back in July, so I think I will send out a reminder report right after I finish this blog. Then maybe we can get in front of clients heading back to town this week or next week in time for the new school year.

 

Donna H. Laubscher, CPA

 

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