5 Post-Tax Season Tasks Every CPA Should Do

Take advantage of your free time after tax season.

Tax season is over – hurrah! We hope it was productive, profitable, and exciting for you. Now it’s time to sit back and reflect upon the months gone by and prepare for what’s to come in the new tax year. While you are enjoying the quieter time, you should be thinking about these 5 tasks every CPA should do.

1) Attend seminars and workshops.

Continuing your education is vital to career success for a CPA. Use the free time to participate in conferences that not only help you in getting better at your job but also enable you to earn Continuing Professional Education (CPE) credits.

Alternatively, turn to training others if desired. Give a class on QuickBooks or Excel, or lead a webinar on financial planning. You could even guest lecture at a local college.

2) Learn about professional ethics.

Just as tax law and other legal updates are important to CPAs, staying current with professional rules of conduct is equally necessary. Check out Professional Education Services (PES) which offer a wide range of state and non-state-specific professional conduct courses. Identify the ethics courses you are required to take and the number of credits needed to register for each course.

3) Do financial planning for next year.

As a CPA, your job is to help organizations and individuals plan and execute their financial goals. From budgeting and tax planning, to managing payroll and bookkeeping, you offer end-to-end support. Therefore, start planning the finances of your clients for the next year right after the tax season. When a CPA works year round, tax season becomes less frustrating.

4) Evaluate your client list.

Touch base with your clients to learn about their experience with you during the tax season and see if there are any areas your firm could improve on. If you want your firm to grow, it has to listen to its customers and make changes accordingly.

5) Consider outsourcing.

If you were in a pickle during the tax season due to staff shortage, then you should outsource. Outsourcing companies often offer engagement models depending upon the client’s business contents, nature of the project, and size. This solution will ensure you the peace of mind that the compliance side of your CPA firm is in safe hands.

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