checklist: following up after tax season

lay the foundation for work you didn’t have time to do earlier this year.

by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor

if you were paying attention during tax season, you likely picked up on other services your clients might need.

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here is a checklist of 15 possible additional services, plus a form to track your follow-up.

additional services checklist for clients

client______________________________

date___________________

prepared by_________________________

the following services were identified that the client might benefit from.

review adequacy of life insurance based on our discussion of family’s financial needs
client indicated they do not have a will. we can consult on what should be in the will
if client has a concern about their estate plan, we can advise them based on their desires
client said they do not have a buy-sell agreement with their business partners. we can consult on the terms that should be in the agreement and ways to value the business
client expressed goals of when they want to retire. we can help them develop a financial plan leading them toward achieving these goals
client indicated a concern about cash flow in retirement. we can review their present assets and accumulation plans to illustrate if they can achieve the targeted cash flow
client needs a separate tax planning consultation
client is subject to alternative minimum tax. client should schedule a pre-year-end meeting
client should have a pre-year-end tax planning meeting and projection
client indicated that they might have a big change in their income this year. client should call us when it appears it will occur – before the event takes place
client’s estimated tax payments do not protect them from penalty. client needs to inform us before each payment is due so we could calculate protective estimated payments. note: due dates are april 15, june 15, september 15 and january 15 of current year
client is going through a marital separation. client should schedule an appointment to discuss the financial and tax aspects of the separation, and possible divorce, and valuation of businesses, if any
client should consider a retirement plan for their business and should call for a consultation
client has a household employee and needs further information
client makes large charitable contributions and needs a consultation on tax-advantaged ways to make them
other ________________________________________________________________________

we assume no responsibility to perform these services. consultations are available for additional fees. please call our office to schedule a meeting.

tax season follow-up form

based on issues disclosed by preparer or reviewer

client________________________ year____ date prepared_________ by________________

date followed up___________ comments__________________________________________

issue(s) discussed________________________________________________________________________

follow-up action ________________________________________________________________________

client comments________________________________________________________________________

final resolution:

additional services performed____________________________________________________

future follow-up date____________________________________________________

client has no interest in corrective or preventive actions___________________

comments ________________________________________________________________________

posted on april 22, 2017

edward mendlowitz

about the author

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edward mendlowitz, cpa, abv, pfs, is a partner at withum, a forward-thinking, technology-driven advisory, and accounting firm. ed has over 40 years of public accounting experience, is recognized as one of the top 100 most influential people in accounting by accounting today, and is the 卡塔尔世界杯常规比赛时间 "practice doctor." his latest handbook for 卡塔尔世界杯常规比赛时间 is 77 ways to wow! the handbook for small-business advisory services.

ed is also the author of "memoirs of a cpa," available at amazon.

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"memoirs" tells his story as a cpa and provides an inside look at what cpas do and how they run their accounting "business." cpas must serve clients effectively and exceptionally, recruit, train, retain and grow staff, and charge fees that clients happily pay because of the value they receive while the cpa earns a living, funds a retirement account, grows infrastructure, and perhaps makes a profit. this book tells how he did all of this and much more.

more ed mendlowitz in the 卡塔尔世界杯常规比赛时间 store:

he is a licensed, certified public accountant in the states of new jersey and new york and is accredited by the american institute of certified public accountants (aicpa) in business valuation (abv), certified in financial forensics (cff) and as a personal financial specialist (pfs). ed is also admitted to practice before the united states tax court and has testified as an expert witness in federal and state court regarding business valuations, and twice at the house ways and means committee on tax reform, fairness, and reduction. a city college of new york graduate, ed earned his bachelor of business administration degree.

he is a member of the aicpa, the new jersey society of certified public accountants (njscpa) and the new york state society of certified public accountants (nysscpa). in addition, ed was a founding partner of mendlowitz weitsen, llp, cpas, which merged with withum in 2005. currently, he serves on the nysscpa estate planning committee and was chairman of the committee that planned the nysscpa’s 100th anniversary. ed, the author of 19 books, has also written hundreds of articles for business and professional journals and newsletters.

he is the contributing editor to the practitioners publishing company’s 706/709 deskbook, the aicpa’s management of an accounting practice handbook, corporate controller’s handbook and wiley’s handbook on budgeting and is on the editorial board of bottom line/personal newsletter and the journal of accountancy member panel on business valuation. appearing regularly on television news programs, ed has also been quoted in numerous major newspapers and periodicals in the united states. he received the lawler award for the best article published in 2001 in the journal of accountancy.

ed frequently speaks to many professional and business groups, including the aicpa, njscpa, nysscpa, american management association, the national committee for monetary reform, the university of medicine and dentistry in n.j., and many more. for 11 years, he taught courses on financial analysis, corporate financial policy and theory, monetary and fiscal policy, and managerial accounting in the mba program at fairleigh dickinson university.

click here for more by edward mendlowitz