Beginning of the Year Checklist for Tax Entrepreneurs

By Chuck | January 10, 2020

The beginning of the year for every entrepreneur signals a fresh start. New beginnings, new goals, resolutions, habit changes… And of course, a long list of tasks. For tax professionals, the beginning of the year is a frantic one as you are now counting down the days to the start of the season.

Set goals

You can’t measure success if you don’t set goals and track them. What are your financial goals this year? What are your operating and staff goals? Don’t just sit down and goal set with yourself, do it with your staff so that you all grow throughout the year.

The sky is not the limit here. You want to make sure your goals are actually attainable. Make sure the goals you set are SMART (specific, measurable, achievable, relevant and time-bound). Once you’ve defined your goals, you need a plan of action for reaching them. What processes will you implement to help your business reach your goals? What changes will need to be made?

Revisit your marketing strategy

The clock is ticking on tax season. How are you doing in the execution of your marketing strategy? Is content being developed? Are your campaigns well thought out? Are the necessary materials edited and printed? Have you checked all the items off on this ultimate marketing strategy list?Now is the time dot your i’s and cross your t’s.

Here are some tax marketing strategies you might want to consider for 2020.

Connect with clients

The filing season doesn’t officially start until the end of the month, but now is the time to connect with clients to start making appointments. Even if you can’t file now, you can start collecting documents and getting books in order. Calls, emails, direct mailers, etc. should all be on your checklist at the top of the year.  If you’re offering bank products for your clients, you may be able to provide refund advances starting in early January until the start of tax season.

Connect with mentors

Before you’re flooded with taxpayers and paperwork, reach out to your mentor and connect. Find out what they did over the holidays and see what goals they’re working towards this year. The New Year is a great time to connect and your mentors and gain some insight, inspiration, and clarity.

Read up on tax industry trends

What’s the season forecasted to be like this year? What laws are changing? Which forms should you be warning clients about? Do your research before you dive in and your clients will thank you for it. The best place to catch up on all things tax news is Accounting Today.

Recap and forecast

Before you look ahead, take a look back at how you performed last year. A year end recap is a good way to reflect, celebrate successes, and decide on your goals for this year. It’s also a great activity to do with your staff.

Read the Guide to Start and Grow Your Successful Tax Business

Finally, whether you’re a new tax business owner or a seasoned veteran, there is a ton of great knowledge in our Guide to Start and Grow Your Successful Tax Business. This 289-page book is your go-to guide to running a successful tax business.

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