What Does Stephen Do After Tax Season? (The Four Things An Accountant Does During Off Season)

     What I personally like to do, is lay back on some tropical island, order myself a Mai Tai and relax until about February when I get all the frantic emails and phone calls.  JUST KIDDING!!!  While I do like to plan a little getaway after the stress of tax season, there’s still work to be done throughout the year.  So what do I do?  I’ll tell you...

Financial Consulting and (light) Advising

     If I had to name at least one of my skills, it would be analyzing cost efficiency.  I can help you increase your company’s profits by seeing where some spending may be extraneous, or I can help you with ways to decrease your tax liability.  Believe me, these plans cannot just be implemented overnight. Having a tax strategy throughout the calendar year, before April 15, will save you more money than last minute deductions.  Not to mention monthly, weekly, if not daily general accounting, bookkeeping and payroll tasks.  If you have me doing these things throughout the year, it is easy for me to give you quarterly updates on your company’s finances.

Handle Extensions

     While the pressure gauge drops after April 15, that doesn’t mean the work is over.  Often I recommend filing extensions for those who need more time to organize their financial documents.  While you still need to estimate and pay the appropriate amount by April 15, the extension gives people more time to play catch up in order to avoid filing for additional extensions.

Off Season Assistance

     Those who didn’t file tax returns for previous years often seek my help during off-season hours.  For any businesses who are dealing with audits, I may be asked to prepare various financial statements or compilation reports. 

Workshops and Continuing Education

     In the off season, I seek opportunities to continue my education and do any training or seminars on tax strategy and preparedness.  In fact, I did a Lunch and Learn this past March with the Richmond Business Alliance. I'm already looking to do more in the near future! 

While it’s true that my mailbox is full during those busy months of filing, my plate is still full throughout the year.  However, if you have any tax questions, it is more likely that you can reach me more promptly before the hysteria begins.