Funny?…but we don’t love tax returns (we don’t even like them)tax-time

Accountant = tax return. Right?

Wrong.

We don’t love tax returns. I’m talking about the personal returns. The ones due at the end of April. With endless slips and receipts and schedules and forms and ever-changing rules.

These returns are the “necessary evil” of our profession. At least in our practice.

What we love is helping you understand and better your business. We are a firm that specializes in helping entrepreneurs, dreamers, risk-takers, visionaries, and empire-builders. We are those people ourselves.

When you consider your tax and business advice as a whole, the personal income tax return usually factors in as a very small component of the bigger picture.

Think of a kitchen…we all love the wonderful treats and promises that a well-run kitchen can provide us. The chef is the alchemist that can turn sometimes incomprehensible combinations of seemingly hopeless or incongruent ingredients into magic deliciousness. But. Yes, but. Someone needs to clean the kitchen. Keep the cupboards stocked. Make sure the milk is put away in the fridge. Turn off the light at the end of the night.

We could think of our practice as a “kitchen” of sorts.   As the “chef” we mix up our expertise in tax, accounting, business, finance…throw in a little psychology, coaching, bossing…add a pinch of loving, and we can create something that is not only just palatable, but something you want and maybe even crave.

The personal tax return….well, it’s the kitchen clean-up.

As any business owner knows, allocation of the right resources to the right job is imperative. And keeping a focus on your business’ core competency is also key. And keeping your team happy and healthy may be the most important part of keeping your business alive.

The preparation of hundreds of personal tax returns each spring requires that resources be allocated to work that is not only grinding, but unprofitable and disruptive to an accounting practice. It can pull a practice away from its core competency and dilute its focus. And it burns out the team.

You can help us keep our team happy, keep our focus and do what we do best.

Here’s how:

  • Get us your personal tax return documents by our deadline of March 15. If you can’t make that deadline, communicate with us about when we can expect your documents.
  • Bring us a complete package of your documents. Don’t bring us some slips one day and email us a couple others the next. Use the checklist we send out and carefully consider if you’ve included all necessary documents.
  • Don’t expect us to complete your return within 1 day. Or even 2 days. We are not “that” business. We will have your return completed and filed by the deadline of April 30 if you:
    • deliver your documents on time
    • respond to any questions promptly
    • return signature documents promptly

Remember, your personal income tax return is part of a bigger package. We love to help you understand and run your business better. We do your tax return because we love you. Not because we love tax returns.

Written by:  Willow Enewold, CPA, CGA