Tax Season Survival Kit

Every tax season has its own issues and personality, but there is no question that they all put you to the test. Lots of effort goes into planning for the season, but things never completely go as planned. At this time of year, partners are on the firing line, and they are always on the lookout for winning strategies. A survival kit for partners - especially Managing Partners - can certainly come in handy at this time of the year. If I were to pack a survival kit for this tax season, I would want to make sure it included the following:

Sense of Humor
The old adage “one day you will look back and laugh at this” is so true for the episodes that take place at this time of year. Rather than saving the laughing for later, find the way to start laughing now. Turn the negatives into positives. Think about keeping track of the funniest moments or the dumbest things, and then share them at your after tax season celebration.

Wish List
Create a dynamic running idea roster that you keep in electronic form and maintain privately. The best ideas are often hatched during tax season and then inadvertently forgotten. At the end of each week, review your list and tweak it so that by the time the season is over, you have a prioritized “to-do” list to improve things for post tax season and future tax seasons.

Spontaneity
The time for new and different is here. The stress of the season can easily compound and get out of hand. Be prepared to use surprise elements to break the ice and introduce fun and relaxation to the climate. You will be spending more time with your peers than any other folks at this time of year - turn it into a fun and pleasurable experience. Take a page or two out of a special events calendar at a camp and spontaneously put them to use… if clients are in the office, include them as well. Be open minded to creative thought from all corridors of the office. 

Problem Meter
A Managing Partner never likes surprises - especially during tax season. Every week or two, depending on the practice size, the Managing Partner should be advised by each of his partners about the top problems they are facing and how they plan to resolve them. The Managing Partner will then have the right information to prioritize the problem solving and keep the meter from getting overloaded.

Megaphone
The firm’s goals, rationale and tax season successes must be broadcasted boldly - with clarity and frequency. The more the members of the team can understand, the better they will perform and the more supportive they will be to each other. Don’t be afraid to share business development, revenue, production and satisfaction results and targets - the more transparent the better.

Of course, most folks have their own favorite tools. The above recommendations may already be part of your favorites and, if not, hopefully after you try them they will be. Successful firms don’t just survive during tax season, they actually thrive. Our Managing Partner On Call program is an ideal platform to make things thrive during tax season. Contact us or explore our webpage further for details.