Although preparing for the coming season in January is not ideal, a little preparation and planning can help your season run a lot smoother. These steps can serve as the foundation from which you build for next season. Do a post-season review to see what worked well, what didn’t, and what can be improved so that you can build some of those bigger changes into your strategy.
Reviewing and refining your tax season strategy in May allows you to take lessons from the just finished season while they’re still fresh. Then, you can implement process improvements and new technologies during the more relaxed summer months and use the fall filing deadlines to test them in a live situation that’s not quite as stressful as the real deal.
Mark Albrecht, CPA, MST is founder and CEO of XCM Solutions, LLC, a leading provider of workflow automation solutions to the accounting profession, and a former founding shareholder of KAF Financial Group.