tax season

the top 12 tax return preparation errors

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pro members: click here for the instant download

get the instant download: ed mendlowitz’ tax season opportunity checklist kit. free to pro members.

ed mendlowitz, cpa and partner at withum cpas in new brunswick, n.j., has survived more than 40 tax seasons and built a thriving book of business.

he knows a thing or two about how to run an office in busy season. over the years, he has compiled this handy list of the most frequently found errors in tax return preparation:

1. number transposition and spelling errors. this includes income and deduction amounts and client social security numbers, addresses and zip codes. spelling errors should also be avoided – they indicate a lack of attention to what you are doing. read more →

new survey findings: tech investments, better economy, more complex returns buoy busy season outlook

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four in five expect the same or better  than last year’s busy season.

by rick telberg

as busy season 2012 gets into full gear, tax and accounting professionals are holding steadfast to their confidence that this year’s results could show a marked improvement over last year’s, according to current readings of the profession by 卡塔尔世界杯常规比赛时间.

with january 2012 just beginning, 55% of accountants expect 2012 to be overall  “somewhat” or “much” better than 2011, which is relatively unchanged from readings in november and december. to be sure, 26% expect no change from last year, and 19% are bracing for “worse.”

in other findings from the 卡塔尔世界杯常规比赛时间 busy season barometer and related reports:

complete findings are published in the 卡塔尔世界杯常规比赛时间 practitioner’s tax season performance review and outlook report. (learn more here)

 

read more →

two smart ways to keep the marketing engine running during tax season

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two days of smart marketing that can actually benefit your practice for the rest of the year.

by completing just two marketing tactics in january, you will be able to “touch” clients, prospective clients and referral sources throughout busy season even if your schedule doesn’t permit face-to-face communication.  you will have been “seen and heard.”

marketing consultant debbie andrews at marketri, a philadelphia-area marketing agency, says:

1. youtube video series: film 6-10 short video clips that contain (1) planning advice and /or (2) tax news / law changes.  these videos should be no more than 60-90 seconds in length.  when developing the material for your shoot, think about the many questions that you were asked by clients throughout the year.

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billables look good for busy season

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major metrics suggest rebounding business.
busy season benchmarks, dec. 2011

most tax and accounting professionals heading into busy season are expecting meaningful improvements over last year in revenues and profits, according to new 卡塔尔世界杯常规比赛时间 research.

  • complete findings are published in the 卡塔尔世界杯常规比赛时间 practitioner’s tax season performance review and outlook report. (learn more here)

read more →

benchmark 1040 fee flattens out at $233

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rates up only $4 in two years for “main street” firms.

most tax professionals will be charging an average of $233 for a typical itemized return this year, relatively unchanged since the beginning of the recession, according to a new survey of national society of accountants members.

the new $233 benchmark represents barely a $4 increase in the two years since the last biennial survey, when accountants posted a 10% advance from the 2007 poll, which followed a scant 2% gain from $201 in 2005.

the survey of nearly 8,000 tax preparers by the nsa found that the average fee for preparing an itemized form 1040 with a schedule a and a state tax return cost taxpayers only $233 this year. rates for non-itemized returns are also largely unchanged at $128 for a form 1040 and state return without itemized deductions.

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survey results: accountants expecting a better busy season in 2012

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small but measurable advances.

preliminary results from a survey by 卡塔尔世界杯常规比赛时间 suggests that tax and accounting professionals are expecting a better busy season this year than last year.

last year at about this time, practitioners rated the then-upcoming 2.35 on a five-point scale with 5 being “much better” than the year before and 1 “much worse.”

in other findings from the 卡塔尔世界杯常规比赛时间 busy season barometer and related reports:

complete findings are published in the 卡塔尔世界杯常规比赛时间 practitioner’s tax season performance review and outlook report. (learn more here)

new and preliminary data rate the outlook a 2.42, a scant but perceptible improvement.

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tom blair: ‘one size fits all’ simply won’t work anymore

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nine rules for tax season success, including: bartering services for ammo, if necessary.

by thomas avery blair, ea
tomblairea.com

i believe that in order for the registered tax preparer/licensed tax attorney, cpa and enrolled agent to remain in business now and in the future, there will have to be a resurgence in the attitudes of conventional and unconventional “personal service” to the individual tax client.

i bear witness to the fact that my own small tax practice now requires that more personal attention be given to the individual client. “one size fits all” simply won’t work. the tax code is growing ever more complex while the public’s education in federal taxation matters is waning.

here are some examples of what i mean:

tom blair

1. my clients needed year around access to a notary public… so i became and now remain a commissioned notary public.

2. my clients needed cost-effective access to legal advice, especially over matters of wealth retention… so i fostered a business relationship with an attorney with a desire to have her own practice who had the precise skills my clients asked me to find for them. she gets free office space in my office three days a week by giving my tax clients $50 an hour discounted rates on initial consultations in the “off season.”

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