Preparing Your Firm for Tax Season

Accounting firms across the nation are preparing for their busiest time of the year: tax season. This period of time is obviously strenuous for everyone involved, and nobody looks forward to it. However, with a little preparation beforehand, you can make this crunch time less painful than it usually is. Here are some pretax season preparation steps we suggest.

Make your office work-ready

While your office may be in basic working order, there are always things that get pushed aside or put off until later– make “later” now. Is there a certain computer or laptop that has had regular problems or crashes? Replace it.

Do your systems and software need to be updated? Get it done. Putting off hiring an outsourced accounting service? Even things you might not think about like a faulty printer or fax machine– these things make up part of your office ecosystem, and in the busy tax season rush, you will not have the time or patience to work around or fix them. Having a well-oiled machine of an office will make all the difference when you’re in the heat of tax rush.

Accounting shortage crisis in the news

The Wall Street Journal reports that companies are dealing with a shortage of accountants in the marketplace even as the regulatory environment becomes more complicated.

Sweeping tax changes ground holiday plans

From the NYT comes a story of a man who had to forgo his family vacation because of sweeping changes to the federal tax system as a result of legislation that was signed into law in late 2017.