Make your clients contribute valuably during the 2019 tax season

Boxes of paper receipts, messy desks and disgruntled accountants – are you reminded of the tax season? I am sure you are. The first four months of any new year are undoubtedly the most chaotic for accounting professionals.

Ask us! When our clients go for accounting outsourcing in the busy period, all we do is put our heads down, and work!

Since the 2019 tax season is fast approaching, now is the right time for CPAs and accountants to buckle up and prepare for the busy period. However, to do that, they need to prep their clients first.

Why, you ask?

Because tax preparation is one activity that most clients often put off till the very last minute.

Of course, procrastination reduces their anxiety levels for a short period. But that also puts sudden pressure on them (and you) when the tax season commences from January.

Since they are outsourcing accounting work to you, it is up to you to find ways to make your clients valuable contributors during the busy period. Here’s what you need to do:

1) Use a checklist to collect client data easily

Tax return preparation is a complicated task. From bank transaction details to pension policies to additional incomes and multiple invoices, there is way too much paperwork involved.

Gathering data is painstaking, but you can simplify the process with a tax return checklist. Depending upon the form you are filling (1040, 1120, 1065), put the paperwork together with your clients systematically.

If you are outsourcing accounting work, then the exercise will reduce your headache of asking for data by half. Get everything your outsourced accountants need to prepare tax returns in one go.

You breathe easy. Your clients breathe easy.

2) Remind and motivate clients to file taxes early

Some clients need to be reminded, while some need to be motivated. Either way, the onus of getting them to file taxes early lies on you. Therefore, start soon.

Drop email reminders. Ask your team to give them calls at key intervals. The earlier you start chasing them for tax preparations, the sooner they’ll realize how stress-free it will be for them to meet deadlines early.

Moreover, if you are outsourcing accounting work, your outsourced accountants can turn around tax returns faster.

3) Chase those clients that have a history of late returns

Picking up the slack for clients who don’t file taxes on time can put extra pressure on you, especially when the tax deadline is almost there. No doubt, you are responsible for them. But they are more accountable for not filing their taxes on time.

Therefore, make a list of late tax-paying clients and schedule reminders to contact them periodically. If you can convince them to file tax returns on time, you both will be less stressful when the Tax Day rolls around.

4) Help clients understand the new tax laws

As you know – The Tax Cuts and Jobs Act (TCJA) was passed into law at the end of 2017. It made changes, thereby affecting all kinds of taxes including individual, corporate, partnership and others.

Your clients may have a general idea about TCJA, but it is your responsibility to educate them on how it affects them. For instance, a drastic change has been implemented in Form 1040, which means more details need to be filled.

Call up your clients or send them an email explaining the new changes and how it affects them. This will help them to collect documentation accordingly.

Benefits of outsourcing accounting work to QXAS US

Oh, the benefits of working with us are way too many. But to sum it up, we can:

• Alleviate your practice staff crunch

• Turn around tax returns within 24-48 hours

• Reduce your overhead costs by 50%

If you want to give accounting outsourcing a shot, reach out to us via email ([email protected]) or call us on 1-800-310-9312.

The key to a successful tax season is to plan ahead and prepare well. Let’s get started, shall we?