Leading Your CPA Firm Into Tax Season

January rolls around on the calendar and traditional accounting firms everywhere moan.  Don’t let this time of year - the ‘busyness’ of tax season - derail your plans and vision.  You’ve worked hard to build your business and reach your goals.  Some simple but effective do’s and don’ts will make leading your CPA firm into tax season an opportunity for growth and making headway on your goals.

Change it up

DON'T set the expectation that you’re going to do everything like you did last year.

DO actively seek out what you can change. Change is scary for accountants- but change has to occur to get better. Start by asking your team what they think needs to change. What processes should be updated?  How can you better communicate with clients? What team skills do you need to leverage better? 

If you are short on credentialed staff, how do you preserve their time to work on the highest value work? Prioritize their workload by removing the fluff they are working on and identifying what can be shifted to someone else.

No “one-man bands”

DON’T try and do it all. As a firm owner, you need bandwidth. Not you nor any staff member should be carrying the entire process from A to Z.  You need the ability and energy to focus on higher value services, manage the firm, and be in a place to stay calm when chaos ensues. Walk into the season knowing you shouldn't try to be or need to be involved in everything.

Which leads to…

DO delegate- you don’t need to control every part of the process. You’ve surrounded yourself with competent, capable teammates who possess strengths and talents you don’t.  Get to know their strengths and then use them.  Not only does this free up bandwidth but it also creates a positive culture where each member of the team feels valued and needed.

Know your worth

DON'T be afraid to raise prices this year. Let’s face it - inflation is real and impacts your expenses.  Tax law and forms continue to change every year.  Additionally, your time is valuable.  More demands on your time and services can be offset by slightly higher compensation. You have to know your value and seek to work with the clients who recognize it.

DO identify your clients that have deeper needs for service. They are the ones you need to focus on. Set a meeting to talk to them about their goals for the coming year.  Then set them up for regular monthly services to discuss their goals and plans after tax season.

Focus on your team

DON’T talk to every client. You don’t need to or have to. While it may feel like you’re taking away that “personal touch”, you are allowing your team to be a part of building strong client relationships.  You don’t need to spend energy and time returning all the phone calls and emails.  This goes right back to delegating and leveraging your team.

DO meet often with your staff.  Schedule a regular time for staff meetings and conduct informal check-ins. And there’s no need to block out an hour or two - they can be as short as 20 minutes and done virtually.  Discuss anything going well, hot topics, critical issues, client pushback.  This allows the team to bring ideas to the table and a forum to celebrate all the things you’re doing well.  Open communication helps you check the pulse of your team health and project statuses.

Set boundaries and recharge

DO take care of yourself and your team.  This time of year can feel hectic.  Deadlines loom, energy can wane, and momentum can stall.  Before tax season is in full swing, commit to taking time away from the office.  DON’T work Saturdays during tax season unless you absolutely must at the very end of the deadline.  Save those weekends for rest, family, and fun.  And after things slow down? Give your team time to recover with most or all of Fridays off during the summer.

Final thoughts

This time of year doesn’t have to leave you drained and your talent pool smaller than when it started.  Making a plan now and communicating it to your team will help you lead successfully into tax season and emerge on track to hit your firm goals for 2023.  

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