With the April 15th deadline for income tax returns looming, accountants must ensure that they've dotted all the I's and crossed all the T's. In this article, we will offer helpful tips for accountants to make the last few days of tax season run more smoothly. Do not Overwork Yourself Accountants often allow tax season to feel intimidating. Often, this is due to procrastination and work overload. But more often than not, accountants just have a heavy workload as April 15th approaches. This is sometimes unavoidable. However, learning to relax and not overwork yourself during the ..read more

While advisory services are interchangeable because they feel similar, they are quite different. In this article, we will make clear how these two functions differ, and tax professionals can better define them for customers. A tax advisor and a financial advisor play unique roles, though they are by definition interrelated in managing personal finance. A tax advisor, with specialized training in tax law, provides advice on tax matters, ensures tax compliance, and strategizes to minimize tax liabilities. They focus on tax-efficient approaches to financial transactions, inheritance, and business ..read more

The year is coming to a close once again. While most people are counting down the days until their year-end holiday, accountants are gathering their clients’ year-end documentation. As well as the annual close, accountants still need to finish up reporting for December and the quarter. With so much on the checklist, December is one of the busiest months of the year for accountants. Its hectic nature is perhaps beaten only by New Year, and the start of another tax season. To avoid a busy start to 2024 mixed with the January blues, smart accountants often spend December gathering client info. In ..read more

A career in accounting requires a lot of intelligence, skill, and hard work. However, the need for accountants to pass countless tests, have an affinity for numbers, and dedicate their time to research has led to some questionable stereotypes. Accountants have long been pigeonholed as number-crunchers and socially awkward individuals stuck under stacks of financial reports in tiny office cubicles. The job is rarely seen as rewarding, with dynamic, strategic accountants responsible for pushing their industry forward and safeguarding the financial futures of global businesses. With the dawn of t ..read more

Payroll duties can be a drain on a business’s management, time, and resources. Accounting firms often take responsibility for the payroll duties of their clients, and clients are willing to pay big money for this service. But your accounting firm cannot simply begin advertising payroll services to clients without any of the skills or technology needed to complete those tasks. If you’d like your accounting firm to offer payroll services, but aren’t sure where to start, we’re here to help. Read on to find out what you need to do to start offering payroll services, and why you must have the lates ..read more

Accounting is a year-round profession, but tax season is definitely the highlight (or lowlight) of many accountants’ calendars. With tax season 2023 just two months away, accountants across the country are preparing alongside their practices for the coming workload. While tax season brings with it varied tasks and a lot of hard work, it also brings the potential for a lot of stress. The scale and significance of tax season only add to the pressure of the job, and any worries can quickly mount up. Added stress can cloud your thinking and judgment, causing you to make avoidable mistakes. Of cour ..read more

AI, or Artificial Intelligence, is now being used in a range of industries to expedite processes and automatically complete actions. While at first glance it seems quite complex and perhaps even dystopian, AI is actually a very valuable tool in any modern business’s kit. It’s no surprise then, that AI is making some big differences when it comes to accounting and auditing services. The way accounting firms conduct audits is evolving thanks to computerized data entry and validation, and automated sending of information to relevant contacts. This means, that with the right AI in place, you can c ..read more

During the summer, many accountants see a decline in their workload. Once tax season is over and late filings are taken care of, things tend to slow down. This gives accountants a unique opportunity to rest and recuperate, as well as focus on any long-term or pressing tasks that are clogging up their to-do lists. If you’re an accountant who’s experiencing this lull for the first time, not to worry. Being unsure of the best way to fill your summer is a challenge most accountants face at one time or another. After all, once your tasks are complete, there’s no set list of things you could and sho ..read more

Accountants have enough to worry about during tax season without needing to chase clients for information. Looming deadlines are made ever more stressful and due diligence takes much longer than it should, all because you’ve landed a procrastinator as a client. Not to mention, if a late client becomes a regular, you can count on the fact that you’ll be chasing them for many years to come. Although it’s not part of your job description to coach clients through their tardiness, filing taxes with missing information is simply not an option. Thankfully, there are a few methods you can adopt to mit ..read more

Having ethical guidelines for your accounting firm helps to protect your reputation and the industry’s reputation as a whole. Not only do they help keep your firm a trustworthy and reliable option for clients, but depending on how your firm is licensed, ethical guidelines are also compulsory. But ethics can be such a nebulous topic, how do you know you’re including the key points in a way that’s clear to your employees? In this guide, we’ll explore the aims of ethical guidelines, what needs to be included, and how you can create clear and concise recommendations to protect your employees and c ..read more