busy season

tax season 2013 adds up to an exceptionally difficult year for many practitioners

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chartexport(3)
about 23% of firms report a “significant” increase in extensions this year, overshadowing all other major benchmarks.

small firms and enrolled agents suffer the most damage from washington shenanigans and balky software. [pro member exclusive]

busy season barometer
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by rick telberg
卡塔尔世界杯常规比赛时间 research
join the survey; get the results

with tax season 2013 finally (gratefully) at an end, the latest soundings from the field show conditions continuing to deteriorate into the final hours, according to the 卡塔尔世界杯常规比赛时间 busy season barometer.

in this report:

  • practitioners’ top five problems during the season (chart)
  • practitioners rate tax season from “better” than last year to “worse” (chart)
  • reports and analysis from practitioners around the nation, including florida, illinois, michigan, maryland, and pennsylvania.

in earlier reports:

 

read more →

12 fast, low-cost tips for a stress-less tax season

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stress management is critical to a successful season.

by sandi smith, cpa
accountant’s accelerator

i don’t want to stress you out, but we really do need to do something about our stress levels.

the american psychological association says our kids are getting headaches, having difficulty sleeping, and eating too little or too much due to pressure from school and household finances. the worst part is that  most parents were not aware of the severity of their children’s stress.

many adults reported not knowing what to do to change their lifestyle so they could reduce their stress, so it just makes sense to talk about this a little.

here are the most common stress-reducing tasks that some people do, according to the survey: read more →

soloist and small firms taking it on the chin this tax season

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the 卡塔尔世界杯常规比赛时间 busy season barometer
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how many will survive? join the survey; get the updates.

by rick telberg
卡塔尔世界杯常规比赛时间

if you’re having one of the toughest tax seasons in years, you’re not alone. in fact, you’re one in an unusually large crowd.

unless trends reverse in the last four weeks of tax season 2013, many practitioners – mainly those practicing solo or in small firms – should be bracing for significant declines in revenues and profits from last year.

tax season trending:
better or worse than last year?

some 64% of solo practitioners are reporting “worse” trends than last year, with half of them terming it “much” worse. about 16% are enjoying “better” trends overall.

to be sure, small firms may be feeling more than their fair share of pain. but many larger firms are hurting too. among the largest firms surveyed, 30% are experiencing positive trends, with 50% reporting negative trends.

more busy season trends:

practitioners across the nation are reporting severe issues. for one practitioner in monroe, la., the season has been running “slow as molasses!”

for some, tax season 2013 may be the last straw. “between the delays caused by the fiscal cliff, software delays and angry clients, it may be time for retirement,” says one veteran of 35 tax seasons and a partner in an 11-partner firm.

“all the irs delays have put my clients in slow motion mode!,” says liz hegarty, an austin, texas, soloist. “my in-flow is down 25% but all that means is a really compacted ‘extension’ craze in april!   and i already have a crazy extension ‘season’ due to late k-1s.”

the latest analysis of survey data sheds light on key financial metrics, including trends in:

  • revenues
  • profits
  • number of clients
  • number on extension
  • revenue per client, and
  • profit per client

read more →

tax pro’s slammed with sloppy software and federal sequestration

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will this be remembered as another “tax season from hell?”
join the survey; get the updates.

busy season barometer

by rick telberg
卡塔尔世界杯常规比赛时间 research

the last time tax professionals slogged through a tax season from hell, it was 2008, the financial world was crashing into a million little pieces, and 1 in 4 accountants was reporting disastrous operations.

before that, long-timers might recall 1995, when the irs deployed a filing fraud crackdown that delayed millions of refunds.

more tax season research: tax pro’s turn negative on busy season | busy season outlook 2013 | top tax season trends, issues and opportunities

this year, with the irs opening the filing gates not until march 4, could 2013 become another one for the record books?

in the latest update to the 卡塔尔世界杯常规比赛时间 busy season barometer, topline findings include:

  • the number of practitioners reporting a worse season this year, as compared to last year at the same time, is surging month to month.
  • the top 15 issues causing concern, led by irs operations and software and technology problems
  • verbatim reports from practitioners around the nation, including one who is seeing a 20% fee decline in his practice.
  • how practitioners are responding to clients’ lack of understanding, including resorting to discounts.