Accounting 101

What’s Next After the October Tax deadline? 2019 Tax Season Preparations!

There are many benefits to outsourcing accounting services.

So, the October 15 tax deadline passed a while ago. All tax returns have [hopefully] been filed. It’s finally time to take a breather, kick back, and enjoy the holiday season. Isn’t it? Absolutely! But what is equally important to do is to prepare for the 2019 tax season that is quickly approaching.

There for, now is the time to do all your preparations, whatever you have to do to ensure your New Year gets an excellent start. Convinced, are you? Check out this listicle to begin:

1. Stay Updated

The most important part of your job is to make sure your clients save money. And the only way perhaps to ensure this is to stay updated on all changes to tax laws, forms, and publications. I know it is pretty clichéd advice but what’s important has to be said.

Therefore, read as much as you can. All accounts outsourcing services providers offer legislation support, and if you work with one, you should immediately have a one-to-one conversation to discuss the implications of specific tax laws that have changed in the year.

Once you know of the changes, you can plan your tax season accordingly, speak to your clients and get all the right resources in place.

2. Evaluate Your Client List and Up-Sell

Touch base with your clients to know about any new developments that may have taken place within a specific time frame, for instance the tax year. Don’t involve yourself in technical details at this point; only gather necessary information about any investments or acquisitions your clients may have partaken in.

The reason such details are helpful during the tax season is that you will be better prepared to deal with any changes or additions in your client’s work and not stress them or yourself out too much over it

Once you have clarity about your clients, try to convince them of any add-on services that your CPA firm can offer apart from the job you are already doing for them. In the language of sales, this is called up-selling, and it can be quite helpful to you to scale your business.

Accounting outsourcing service providers are prepared to scale work so if you are able to up-sell successfully, don’t worry about hiring extra staff. Your outsourcing partner will take care.

3. Upgrade Your Tech and Infrastructure if Necessary 

Most fast-growing CPA firms don’t have the monetary resources to invest in upgrading tech and infrastructure continuously. And that’s okay.  But a nip-n-tuck of your current resources before the tax season is always a good idea.

Even if it is replacing your old scanner with a new gizmo or buying new tax filing software, get it done right. All accounting outsourcing service providers are equipped with the best of technologies and infrastructure, and if you are working with one, you will have access to that.

4. Outsourcing is a Wonderful Option

It is, and I am saying so with experience. In the last few years, I have worked with many CPAs and have helped them benefit from our accounting outsourcing services. They have achieved massive heights only because they received the right support to grow without worrying about finishing off low margin and time-consuming accounting jobs on time.

For instance, filing sales tax returns – an extremely tedious accounting task – can be outsourced. Even though it is a more time intensive activity than payroll, hiring personnel just for this can burn a hole in the pocket.

This is where all accounting outsourcing service providers like us enter the picture.  I understand questions are raised on “security” and “reliability” of accounting outsourcing services. It’s natural, but with QXAS US, you can be assured of reliable professional accounting services.


So, what are you waiting for? Pull up your socks and plan your next few weeks properly – this way you are going to be more relaxed during the holiday season, and better prepared when you enter the new year.

Laurence is a manager at QX Accounting Services & Founder of Accounting Leaders. QX Accounting offers outsourced accounting services, tax return preparation, bookkeeping and payroll compliance for small to medium sized accounting firms. Laurence focuses on freeing up small practitioners in order to get them to focus on growing their practice.

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