Category: Practice Management

Let the fun begin! Tax season is here! Turbocharge your Productivity!

Hey there, fellow number crunchers and tax titans! Let’s face it: in the world of tax professionals, time is not just money – it’s everything. But how do you make the most of it, especially when tax season turns your office into a scene from “The Fast and the Furious”? Fear not! I’ve got some incredibly useful tips to help you turbocharge your productivity. Ready to dive in?

1. Embrace the Power of “No” – The Ultimate Productivity Hack Yes, you heard me right. “No” is your new best friend. In the world of tax, where everyone wants a piece of your time, learning to say no is like discovering a secret productivity potion. Think of it as your personal shield against the endless barrage of time-sucking requests. “Can you look at this real quick?” Nope. “Do you have a minute to chat about something off-topic?” Nada. Remember, every time you say no to distractions, you say yes to productivity. It’s not rude; it’s smart!

2. Automate Like a Boss (Because You Are One) You’re a tax pro, not a robot, so why spend your precious hours on tasks that a machine could do? Automating repetitive tasks is like hiring a team of invisible minions to do your bidding. Use software for tasks like sorting and writing emails, managing appointments, or even automate some tasks. It’s 2024, and if your software isn’t doing half your job yet, you’re living in the tax Stone Age. Embrace technology and watch your productivity soar higher than a taxpayer’s blood pressure in April.

3. The Pomodoro Technique – Your New Time-Management BFF Meet Pomodoro, not the tomato, but a technique that’s about to revolutionize your work life. Here’s the gist: you work for 25 minutes straight, then break for 5. Repeat. It’s like high-intensity interval training, but for your brain. This method keeps you fresh, focused, and fast. Plus, racing against the clock adds a fun, game-like element to your day. Who knew tax work could feel like a thrilling sprint?

4. Tidy Desk, Tidy Mind – Unclutter to Unleash Productivity An organized workspace isn’t just for Instagram-worthy office shots; it’s a productivity powerhouse. A cluttered desk can clutter your mind, and before you know it, you’re spending more time searching for that elusive document than actually working on it. So, channel your inner Marie Kondo and make tidying up a ritual. A clear desk equals a clear mind, … Continue reading

Big Mistakes Tax Pros Make – Not time blocking and meeting with clients at all hours

Big Mistakes Tax Pros Make – Not time blocking and meeting with clients at all hours

If you are a tax pro like me, I know you are real busy. So busy in fact, that you barely find the time to do things you really enjoy.

That is why it was an easy way to buy back my time by using time blocking.

What is this? Well, it entails putting events, projects and meetings in a group (as best as you can). For example, you book a client on Tuesday at 10am, then try to get your next client to book at 11am (or 10:30am if it was only a 30 minute appointment).

So, now you ask, “How do I get my client to come in at 11am?” The same way your doctor or dentist gets you to come in at a certain day/time. You tell them that is your only availability for the next two weeks.

The other aspect of this is don’t let your clients have a wide range of choices.  “Hey Joe, I am available all afternoon until 7pm!” Make the appointment times convenient to YOU, not them. I only meet with clients from 10am to 4pm on Tuesday and Thursdays and only 1pm to 4pm on Wednesdays. Yes, that’s right, I do not meet with clients before 10am or after 4pm and not at all on Monday, Friday or the weekends. Have you ever made an appointment with a client at 6pm on a Wednesday night and they did not show up or were 30 minutes late? This makes you home later as well. Nothing more frustrating that this. Well, maybe a client not paying me!

I hear it all the time, “But clients will go somewhere else!” That may happen, but I want to work with people who will work on my schedule, my terms.  By the way, I have been doing this for about 6-7 years and this rarely comes up as an objection. Do I make an exception? Yes, occasionally, but only if they are a referral from a good client (and I mean GOOD client) or good referral source.

By doing this, I can focus more time on practice management, marketing and/or technical work (tax prep/review, tax planning, IRS representation cases).

I suggest you give it a try. When I started doing this, this is when I realized I was the one that was in control … Continue reading

Big Mistakes Tax Pros Make – Not increasing your fees

Big Mistakes Tax Pros Make – Not increasing your fees

It boggles my mind that this is something that needs to be said to Tax Pros, but you should be increasing your fees (on all of your services) every year at least 3-5%.

Some tax practitioners are still using the same fee structure for the last 10-15 years. Why? I don’t know. It’s not like your costs don’t increase every year!

Your employees want raises. That wonderful tax program you use increases every year. CPE and the other tools and resources you use increase every year. Why don’t you increase your fees every year?

You had the best excuse in the world to increase your fees 5-10%. What is that? Inflation in 2021 and 2022 was pretty crazy!  Please make sure you take a look at all of your fees and let your staff (and clients) know what the new fees will be.

Of course, when I say increase your fees, I am talking about raising your base rates as well as the rates you charge to your existing clients. So, if you were charging a client $200 for their tax return last year, then the fee for this coming year should be between $210-220. But your base fee should increase to $250 if you were previously charging $200. This now becomes the rate for new clients who walk in the door.

Trust me, you will thank me later when your bank account is much bigger than it used to be.

Remember, now is the time to get started learning about adding Tax Resolution representation to your list of services. It is a natural fit to the work you already do if you are a tax preparer.

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Dan Henn, CPA, CTR™, NTPI Fellow
Managing Member
Tax Pro Academy, LLC… Continue reading