Tuesday, January 6, 2015

Am I Glad that’s Over!

After ingesting several meals that would likely satiate half the linemen in the National Football League and receiving credit card statements for gifts that rival the national debt, I can breathe a sigh of relief that another holiday season is safely in the rear view mirror.

So a big welcome back to a semblance of normalcy.

Now I can look forward to attempting to sardine my way onto an available treadmill or piece of exercise equipment at my health club as those suddenly imbued with the spirit – albeit temporarily – of New Year’s resolutions vow to change their once-sedentary lifestyle. I can take comfort in the fact that for the majority of these exercise newbies, this annual ritual rarely lasts past the first week in February.

But for many of you out there – some 85,000 accounting firms by my estimate - fast encroaching is another annual ritual – 1040 season, which unfortunately piggybacks on the stress of the holidays. But in between the NFL playoff games and the much anticipated college football championship, it might be a prudent time to review your annual filing season checklist.

I suggest beginning with your software packages, making sure they’re updated to reflect the latest tax changes. Hopefully some of you availed yourselves of the late summer discounts offered by several of the major publishers. The last thing you want to do in late February is discover that your current tax programs are so yesterday.

Just as important and arguably even more are staffing concerns. Nearly every practice expands its payroll with per diems during silly season and you may want to talk it over with the folks in the firm to determine if last year’s extra help was sufficient. If not, it may be time to head out to the hiring hall. The last thing an already overworked preparer wants to hear is an owner or managing partner threaten that if they don’t show up on Sunday don’t bother coming to work on Monday.

I know that’s a Dickensian exaggeration, but I’m sure you get the point. Also, make sure you have adequate space to take on the extra help to ensure their desks are not stationed in the hallway. Those relegated to spaces like that may make fast friends with the FedEx and UPS folks but won’t feel like they’re part of the team.

And finally implement staff programs to help relieve the stress – such as free massages or free meals on weekends – you’ll be nonplussed by the results.

And in a total non sequitur here’s my pre-tax season prediction: Oregon 31, Ohio State 20.

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