Post-Tax Season To-Dos


Now that clients aren’t coming through the door at a constant pace, it’s time to wrap up tax season with a nice big bow.  While people will still need their taxes prepared, returns amended, and payment extensions filed the busiest part is over.  For the most part, tax season is over, however, as a tax business owner, there’s still much to be done.  Here are some things you should be doing this time of year.


Clean office(s) to project a professional appearance

Now that the traffic has died down, it’s time to give the office a good scrub to help maintain a professional appearance.


Shred old tax records

Shred any tax records that are no longer required to be retained (take advantage of local free shredding events).


Prepare a monthly projection and cash flow budget

This budget should be for May 2014 through April 2015.


Develop a plan to keep in touch with clients during the off-season

There are many ways to keep in touch with clients and add that personal touch to your client relationships.  Here are some ideas:

  • Monthly or periodic newsletter
  • Office open house
  • Picnic or party
  • Greeting cards

Read more about client communication on our Client Communication post.


Determine ways to cut off-season expenses

Now that you don’t have a steady stream of revenue coming in, you’ll need to cut your expenses during the off-season.


Determine ways to generate off-season revenue

While you are finding ways to cut expenses, you should also be thinking of ways to generate revenue.  This could include diversification of your service offerings to include things like accounting and payroll.


Secure a bank line of credit to finance off-season losses if necessary

If you’re struggling to cut expenses or generate off-season revenue, securing a line of credit is an option.


Evaluate results of 2014 tax season marketing campaigns

While everything is fresh in your mind, go over what you did and the results of your efforts.  Don’t keep running the same marketing campaigns year after year if they aren’t working.  The off-season is a great time to evaluate all marketing efforts from the previous season.

Attend networking events

Networking is important.  Get out into the community, build relationships and shake lots of hands!  Come tax season next year, you’ll be remembered as the go-to person for taxes.

Begin planning for next tax season

Planning is important and now is the time to do it.  Here’s what you should plan for:

  • Plan to recruit and train new tax preparers for 2015 tax season if necessary
  • Consider operating an income tax school to train new tax preparers
  • Develop a marketing and PR plan for next tax season
  • Develop an expansion plan for next tax season if desired
  • Begin relocating or new office site selection
  • Renew tax software or shop for new software if appropriate
  • Renew tax refund banking relationship if applicable
  • Make enhancements to your website

Attend an IRS Tax Forum and/or Tax Professional Association conference

These conferences are important for professional development. There’s always more to learn, and it’s important to meet others from the industry.

Complete continuing education for you and your tax preparers

Build upon your expertise by taking continuing education courses in the summer.  If you have a staff be sure to send to them, as well.  The Income Tax School has a wide variety of CE Courses to choose from. Here is a link to our courses.

What’s on your to-do list? We’d love to hear from you!