The #1 Thing to do in the Fall to Prepare for Tax Season

As we inch ever closer to tax season, we asked several tax professionals what the number one thing they do in the fall is to ensure they are prepared for season. Here’s what they had to say:

“Besides sharpening my pencils, the number one thing that makes for a successful season is training. Every year I go to multiple seminars to brush up on new tax law that will impact my clients. I look for ways to save my clients money before the year ends and in the next tax season!” – David W. Aucoin, CPA, CGMA, president at his self-named full-service accounting firm in Metairie and Kenner, La.

“We ensure we are prepared in three segments: team, system and client. Our tax prep team attends mandatory webinars to get trained on tax regulation changes along with preparing a note of key points that widely impact our client base. Now is the time to update data gathering questionnaires and checklists, and set up our internal task management system to roll in last year’s clients.” – Phani Ilapakurty, enrolled agent and certified fraud examiner at American SMB Services, a finance, assurance, tax and compliance firm focused on serving self-employed, start-ups, small businesses and individuals.

“I tell all of my clients during their spring appointment that if they want to be “thankful” next April 15, they should be sure to touch base around Thanksgiving. If anything has changed or will change, it is a great time to do some year-end tax planning and/or tax planning for the new year that will soon begin. If you have not spoken to me by the time you are eating the turkey, you should call me to schedule an appointment or you might not be as “thankful” come April. It really brings home the importance of year-end tax planning, for which they are always grateful.” – Lynn Rendine, CPA, owner at her self-named tax preparation/planning and QuickBooks® setup/consultation firm in Yorktown Heights, N.Y.

Do you agree with any one of these tax professionals about the most important thing to do to prepare for tax season, or do you have your own item at the top of your to-do list? Leave us a note below and let us know!