Accountants around the nation are breathing a sigh after relief now that Tax Day has passed; after all, few things present so great a challenge to tax professionals as that looming deadline that bears down on so many taxpaying citizens. Despite the incentive many accountants may feel to take the day after Tax Day off, however, it’s imperative that you this rapidly forthcoming April 18th as an additional workday, and one that you can’t afford to miss if you hope to stay at the top of your game.
Here’s everything you need to know about the day after Tax Day, and how you can prepare yourself so that you’re not caught off guard by competitors who refuse to acknowledge the existence of their vacation days.
You deserve a break – but you can’t take one just yet
The medicine that’s the most bitter to swallow is often the most effective remedy, which is why accountants and tax professionals will want to buckle up and get ready to work on April 18th, despite the fact that they’re probably readier than ever for a break after Tax Day. While it’s indisputable that the nation’s accounting and tax professionals deserve an extensive breather after the incredible workloads they deal with every year as Tax Day draws near, the competitive reality is that in today’s marketplace, you can’t really afford to take a day off so soon.
Yes, as bitter as it is to admit, most accounting professionals need to admit that the day after Tax Day needs to be spent gearing up for next year, and that your clients will soon be bombarding you with questions yet again. The fact that the IRS’ payment site has temporarily crashed will no doubt only make your job more challenging; after all, with such technical difficulties as that, financial troubles are sure to follow, and many of the clients you’d traditionally have sated by the day after Tax Day will be wracked by newfound worries that their finances may be exposed to the world. The fact that the IRS now appears set to offer last-minute exemption, too, should drive home the point that a tax professionals work is never done, and you may be called upon to work overtime when you’re least expecting it.
How, then, should accounting pros who are hoping to stay on their A-game approach the day after Tax Day to ensure it’s an efficient one? First and foremost, start planning as soon as possible, and have a must-call-list on hand to get in touch with your most important clients in the event that a tragedy occurs. Most accountants put off a great deal of work when Tax Day is approaching, too, as they’re cluttered up with the last-minute rushing of their clients, so you’ll want to carve out some extra time to deal with the problems you’ve been pushing off for some time now, too.
Making the day after Tax Day lucrative
The day after Tax Day is one of the hardest to work; with the exception of perhaps the day after a major religious holiday or new year, there seems to be no other time when accounting and tax professionals are ready to throw off their gloves and take a breather. Making the day after Tax Day lucrative, then, will be incredibly demanding of you, and will take a certain commitment to time management if you’re to find success.
Mastering these essential tips focused on managing an accountant’s incredibly busy schedule will thus prove indispensable towards your long-term success. Similarly, as your professional time needs to be extensively accounted for, your personal time after Tax Day should also be extensively managed; personal engagements and hobbies, such as checking free arrest records, may need to be temporarily postponed, as unfortunate as it is to say, if your professional goals are still to be met. Never forget that the day after Tax Day is almost always busier than many rookie accountants and tax pros expect.
Still, despite the increased workload you can expect to face around tax season, it’s still important that you find some time for yourself; accountants who overwork themselves are all but certain to be those professionals who burn out brightest and earliest, after all. Don’t be afraid to take some time to stop and smell the roses, or you’ll be of no use to your clients in the immediate aftermath of the highly-dreaded Tax Day.
Finally, get a head start on planning your vacation. This is written with sincerity; the day after Tax Day isn’t the time to relax, but if you don’t have an eventual vacation scheduled to keep your motivated, what’s going to give you the spark you need to get through a mountain of paperwork? Keep your eyes on your long-term goals, and don’t let your guard down on the day after Tax Day, and this year’s post-tax season will be a breeze for you before you even know it.
Gary Eastwood is a CPA licensed senior accountant from Seattle, Washington. He received his CPA license from the Washington State Board of Accountancy in 2001 before relocating to Onawa, Iowa in 2008. Over more than 15 years of accounting experience, Gary has worked with multinational health service providers and independent CPA firms. He has a proven ability in dealing with business clients from a variety of backgrounds as well as leading companies to greater efficiency and profitability. He is familiar with both US GAAP and China GAAP.