Have you ever wondered what CPAs and Accountants do after the long weeks and late nights of tax season? Do they let go of everyone, close up shop and head out on a Caribbean cruise? Do they hole up in their houses and catch-up on Netflix episodes? Do they hope to never see an IRS tax form again until next April?
The answer to these questions, usually, is no. (Or if so, not usually for more than 2 weeks, in our experience.) Of course, CPAs and Accountants have lives outside of tax season, taking some time off to rest and go on vacation–but what changes about their business life after April 15th? There is an obvious and expected slow-down period to be sure, however, the list of additional duties that these companies and firms perform year round continues.
Here are some examples of general additional services and features of having an ongoing business relationship with a CPA:
- Business Owners are typically in contact with their CPAs throughout the year for upkeep and maintenance on their bookkeeping, payroll, tax planning and other business needs.
- Many individuals and corporations are on tax cycles that do not require an April 15 filing, and so those different cycles must be handled.
- Financial advising is another task where CPAs and Accountants consult with businesses to find better ways of decreasing expected tax, staying in compliance with laws, increasing investment success, and making earned money work more efficiently and effectively for the company.
- Addressing un-filed taxes, tax extensions, notices and audits. For a variety of reasons, both businesses and individuals may need extra time to file their taxes. Post tax season is a great time to get the prior year returns caught up, and the IRS and state agencies remind CPAs to contact their clients to solve errors on filed taxes (ex: unsigned returns, under reporting income, etc.). Clearing up audits and any misinformation is also key at this time.
- Throughout the country CPAs, Accountants and Financial Advisors give seminars, webinars, workshops and teach classes on what they do and on specific topics such as new compliance or tax laws, QuickBooks, and Excel. These opportunities are great for the general public as well as businesses so that the understanding of the United States tax and revenue system is better understood.
A CPA’s job is never done, but the services they provide for both business and individuals are invaluable throughout the year.
There is therefore always a continual need for top-notch accountants, tax planners, and financial industry professionals. The hiring slows down, but it never goes away – especially with a higher demand for financial professionals than ever.
Looking for top financial employees — or a new career — in the accounting or financial sectors? Innovative Career Resources specializes in placing accounting and financial advising professionals with well-established accounting companies in Orange County, Los Angeles, San Bernardino and Riverside counties. Contact Innovative at (www.innovativecareer.com) for job placement opportunities or to have an inside track on the top talent in your office. You may also check for their advertised jobs online, and follow them on LinkedIn or Twitter.