Tips to help ease the rush of your next busy season
The next busy season will hit public accounting firms like a thunderstorm, and CPAs and their colleagues are bracing for the flood of work to be done by April 18, 2017. “Tax season can be brutal for everyone,” said Kari Hipsak, CPA, CGMA, manager for the AICPA Private Companies Practice Section (PCPS) team.
But many firms and CPAs, still wrapping up the previous year’s obligations or relishing the holidays, don’t start planning early enough to help ease the work overload that occurs between early February and mid-April. And they don’t create cushions just in case crises strike during that period. Lack of planning before Dec. 31 can mean possible chaos, a backlog of work, insufficient staff, and inevitably long hours for the team.
“You just set yourself up for some failure if you don’t plan things in advance,” said Michael Shost, CPA, CGMA, president and director of Shost & Co., P.C.
So how do CPAs get ready for the busy season tornado? Shost, Hipsak, and others in the profession offered the following crunch time preparation tips:
Cheryl Meyer is a freelance writer based in California. To comment on this story, contact Chris Baysden, senior manager of newsletters at the AICPA.
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