How to have more time during tax season to focus on high value conversations and advisory services


For the second year in a row, tax season has been brutal. With legislation changing mid-season and additional PPP loan opportunities requiring your attention, the workload was amplified…again. Add to it the pressure of finding time in your day to sell advisory services to clients and have high value conversations.

The stakes are high. Tax season is THE best time to gain new business when you have your clients’ attention, yet you are literally buried in work.

There has been much emphasis in recent years on streamlining the 1040 preparation process. With more firms scanning and auto-populating returns, and even outsourcing them, much of the front-end preparation can be done very quickly. On the backend of the process, delivery and signatures have also been automated.

Despite automation on the front end and back end of the tax workflow, partners and senior advisors are still spending dozens of hours during tax season on detailed 1040 reviews. Hours that could be more profitable if spent on higher value client engagements.

The review bottleneck can be eliminated.

Every return must be double-checked and put through some level of quality control before final sign off. In most firms, managers and partners (the highest billing rates in the firm) are doing cursory (if the return is simple) or detailed reviews before finalizing.

The normal review process is tedious, double-checking inputs in the tax software using either manual or digital tick marks and then tieing out calculations to ensure accuracy.

We believe that by the time a return gets to the final review, a partner should fully expect a verified and accurate return with no mistakes. When this is the case, that partner is no longer investing hours ticking and tieing inputs to ensure accuracy and correct mistakes. Instead, he or she can focus on the story inside the return instead of the numbers on the return. When an advisor can look at a return through a lens that reveals proactive opportunities for clients, that advisor creates value for the client.

TaxExact is the missing piece in the tax preparation process- between preparation and delivery. It expedites the 1040 review process and delivers a 100% independently verified result.

Why not just hire more reviewers?

Have you tried to find great accountants with 3-8 years of experience lately? Exactly.

But you likely have some young, inexperienced talent with the potential to be future advisors. So, why not accelerate their development? Think it isn’t possible to transfer all of your knowledge of the tax code that quickly? It isn’t- if it’s you doing the sharing of that knowledge. There is a better, more efficient way. TaxExact has been proven effective in teaching new preparers the tax code and accelerating their development as future advisors.

If any of these scenarios apply to you…

  • You are coming out of tax season feeling a little beaten up and wondering how you will find time to focus on expanding your services business. Or take a vacation. Or just sleep.
  • You are spending too much time reviewing 1040 returns.
  • You have promising young talent that you want to develop quickly to become reviewers and trusted advisors.
  • You want to hear how the CFO of a firm who uses TaxExact structures his day to finish by 4/4:30 every day and not work weekends during tax season.

Join us on May 25 for the Insightful Accountant webinar, “How to expedite the 1040 Review Process: Make a fundamental breakthrough for your firm by removing the reviewer bottleneck” that will inspire ideas and solutions that are easy to implement this summer and position you for efficiency and services growth during extension season and next year! You can register here!

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