Tax Season Capacity Problem?

Are you an accountant/tax firm owner/Managing Partner/Partner/Leader facing a tax season capacity problem? This post is for you.

Tax season is undoubtedly the best and biggest money-making period for almost all accounting firms of all firm sizes. With the ever-increasing complexity of tax regulations and technology solutions, even those people who prefer to “self-prepare and self-file” tax returns are worried if they are/will be able to accurately prepare and file their tax returns. That, in turn, opens up more money-making opportunities for tax preparers and tax pros.

But…..

The accounting profession is besieged with a talent crisis i.e. staffing shortage. Here is some reliable data that proves it.

According to the most recent (December 2023) Outlook 2024 survey on CPATrendlines, one in two accounting firms is turning away new clients because of the staffing shortage.

How much money are you turning away?

On average, not being able to hire just one additional staff can mean your firm is forced to turn away revenue and profit from processing about 300-400 more tax returns, i.e. about $100,000 to $200,000 new business in just three months of the tax season.

The strategy is already proven and within your reach.

Are you finding yourself in the same situation, i.e., you can’t take up new clients because of the talent shortage? If yes, you would want to simply follow the strategy leveraged by Top 100 firms for years - of creating your Global Team.

No, you don’t need to be a big firm to do so. Technology - and the large talent pool available globally make it easier for firms of all sizes to leverage the same strategy.

There is no greater frustration than knowing that there are many more people out there who need your expertise and experience but you can’t help them just because you don’t have enough capacity during the tax season. You wouldn’t want to do injustice to yourself, and to the people who need your help.

What next?

• Make the hard choice of turning away new clients (is that a good choice really?). The next two choices are much better.

• Get familiar with the nuances of quickly creating YOUR own global team - be it just one more person, or more. Click here to download this complimentary eBook to learn how to do so.

• Don’t want to be late in getting the help you need (because available trained resources will be booked fast)? Click here to book a 15-minute no-obligation call with an expert who can get you started with creating your global team within no time.