What CPAs Really Want This Christmas

It is that time of the year again! The oversized but comfy jumpers are back, and the office decorations are out of the storeroom. However, with the tax season on the horizon, accountants are likely to start to feel the pre-tax season pressure, wondering what will happen when the tax season hits, how they will manage, and how they will  grow their firm in the New Year. And this typically means they can’t immerse themselves fully in the Christmas Spirit, and  enjoy the festivities.

But, here’s a question! 

What if we told you that you could get what you wish for this Christmas? From less work pressure to the gift of time – what is the one thing you want?

With Christmas coming soon, we are diving into the festive spirit and putting together a list of what every CPA secretly wishes to get in their stockings under the tree. 

So, without further ado…

Dear Santa, this year all I want for Christmas is:

Every Client to Refer One New Client

Maybe an awkward or wishful ask, but asking clients to recommend your services to other friends and colleagues is an essential aspect of your sales and marketing strategy.

Client referrals are easier and cheaper than many other marketing efforts, and they have a reasonably higher conversion rate. It does not mean marketing is less important, but it is an excellent option to expand and save on marketing expenses.

To make this Christmas wish true, you can send out a festive email to your clients and offer them a referral discount (Christmas discount) as some incentive to help you get more clients.

Clear Client Tax Return Information

One thing that makes the tax season more stressful is unclear and incomplete information from clients. This not only eats into a lot of time (that you do not have) but also pushes the stress and anxiety levels northwards, which is a no-go area. 

To streamline the process of tax preparation, use checklists before diving straight into the tax season and set up automated emails to remind your clients to send the necessary information. Exercising this drill will ensure  that you will not have to remember to do it, thus saving a lot of energy.

Click here to download the QXAS PTR checklist: https://qxaccounting.com/usa/guide/form-1040-checklist-for-accountants/

Drafting emails is a task in itself – writing them to chase clients takes up a considerable amount of time. And, when you don’t have to do it, you  have more time to get more things done. It helps improve the quality and consistency of your firm’s work.

Instead of sending different clients different communiques, you focus your energies on the more productive revenue-generating activities.

You can also consider automating your systems to get that necessary competitive edge for growing into a successful business. You can explore different tools and find out which suits you best.

Prompt Response for Clients

There’s nothing more annoying than a simple question waiting to be answered for weeks. It is not only frustrating, but it also leads to unnecessary bottlenecks and inducing stress in clients.

Sadly, Santa cannot change this behavior. The easiest solution is creating email templates for some commonly asked questions. This will speed up client engagement. Keep creating templates for often-asked questions. You can also set up an automated email letting them know you are working on their query. Clients appreciate such responses.

Longer Deadlines

Deadlines are dreadful when you are an accountant. The worst part of an accountant’s job is tax filing deadlines, annual financial report deadlines, and deadlines imposed by clients. 

Just because they are common does not mean that they are not stressful. Tight deadlines are often tricky, making the accountants burn the candle at both ends.

Time management is integral to avoid burnout caused by tight deadlines. You can try recording deadlines and making a list of priorities. In addition, you should remove any distractions that hamper productivity.

Expansion of Firm

Every accounting firm aspires to own a firm that is growing and thriving. This also means you will need a bigger team and a bunch of more clients. This is a long process if you try to do everything in-house. However, there is a solution to speed up things – accounting outsourcing. Here, you have the opportunity to expand your team without having to go through the rigorous hiring process and aggressively add to your firm’s headcount. 

With no compliance tasks to take care of, you get more time to focus on your firm’s growth, attracting new clients, and expanding your service portfolio. And you can do all this without increasing your overheads and saving money in the bargain. 

If you wish to understand your firm’s prospects and new growth possibilities with tax outsourcing, reach out to us at [email protected].