tax office operations
DESCRIPTION
Best practices for independent tax businesses.TRANSCRIPT
Tax Office OperationsBest Practices of Successful
Independent Tax Firms
Systematic Operating Methods
Systematic Operating Methods
Policies & Procedures Personnel Policies
Company Philosophy• Mission & Guiding Principles• Delivering Client Value• Image / Professionalism• Productivity / Efficiency• Confidentiality• Integrity• Quality• Creativity• Teamwork• Communication• Employee Growth• Community Service
Personnel Policies• Honesty• Confidentiality• Substance Abuse• Sexual Harassment• Authorized Expenses• Solicitations• Dress Code• Personal Phone Calls• Internet Policies
Recruiting Tax Preparers
• Shortage of Tax Preparers– Preparer Regulations– Preparers Retiring
• Recruiting Tax Preparers– Homemakers with young children– Early retirees– Other prospects
• Training New Tax Preparers– Operating a Tax School– Online Tax Course
Hiring and Scheduling• Hiring Tax Preparers– Applicant Screening– Employment Application– W-4, I-9
• Employment Agreement– Non-compete provision– Non-solicitation provision– Confidentiality provision
• Scheduling Tax Preparers– Minimize “dead time”– Monitor productivity
Tax Preparer Training• Continuing Education– Tax law updates– Advanced courses– Small Business courses
• Pre-Work Training– Policies & Procedures– Customer Service
• On-the-Job Training– Buddy System
• Secret Shoppers
Make Employees Aware of Marketing Programs• Signage• Guarantee• Discounts• Group Tax Service• Media Advertising• Internet Advertising• Online Directories• Publicity / PR• Promotions• Client Newsletters• Direct Mail (e.g., Newcomers)• Recording Sources of New Clients
Professional Office Park
Employee Sales Efforts
• Business Cards• Calling Prior Clients• Keeping Signs On• Visiting Neighboring Employers• Attending Networking Events• Community Service• Speakers Bureau• Telephone Responses• Refer-A-Friend• Tax School Student Referrals
Tax Office Policies• Telephone Answering• Pricing Philosophy• Price Inquiries• Tax Information• Client Screening• Office Hours• Weather Closings• Client Complaints• Refunds• Gift Certificates
• Payroll Procedures• Daily Reports• Supply Requisitions• Asset Requisitions• Work Stations• Payment Methods• Bank Deposits• Credit Card Processing
Administrative Procedures
Tax Preparation Procedures• Tax Associates’ Duties• Tax Information / References• Employee Work Schedules• Appointment Procedures• Interviewing Procedures• IRS Due Diligence• Drop-off Return Procedures• Appointment Procedures• Checking Tax Returns• Taking Turns – “Stacking”• Personal & Relative Tax Returns
Tax Prep. Procedures (Cont.)
• Out of State Returns• Incomplete Returns• Processing Returns• Client Information• New Client Sources• Errors / Corrections• Client Folder Setup• Copying / Scanning• Missing Information• Tax Preparer Record
Office Hours and Staffing
• Evenings & Weekends• Holidays• Overtime Policy• Receptionists & Office Assistants• Office List• Employee Roster
Tax Office Work Flow
Appointment
Interview
SourceDocuments
TaxPreparation
Checking andReview
ProcessTax Return
ExitInterview
ElectronicFiling
Communication
Tax Preparation Fees• Schedule of Charges
– Tax Preparation– E-Filing with Tax Preparation -
Free– E-Filing Self-prepared
Returns?– Bank Application
• Time Charges• Discounts• Price Increases• Satisfaction Guarantee
E-Filing / Bank Products• E-filing Procedure• Refund Anticipation Loans (RALs)• Refund Anticipation Checks
(RACs)• Stored Value Cards• Direct Deposit• What Goes to IRS?• Proof of Account• Self-Prepared Returns• Taxpayer Disclosures & Info.• IRS Due Diligence• Fraud Warning Signs• Glossary of EF Terms
• Advantages of E-File– Fast Refund– More Accurate– More Secure– Lower Cost– Proof of Filing– Balance Due
Budgeting
Employee Compensation• Tax Preparers
– Base Pay Rate– Bonus Compensation– Experience/Professional
Attainment Pay– Office Bonus Pool
• Office Managers– Office Override– Transmitting
• Receptionists& Assistants
• Employee Benefits
Employment Agreements• Employment Term & Hours• Tax Preparer Duties
– Client Interviewing & Tax Preparation– Checking & Processing Tax Returns
• Restrictive Contract Provisions– Non-Compete– No Solicitation– Confidentiality
• Office Manager Addendum & Duties– Scheduling– Transmitting– Quality Control– Client Service– Personnel Issues
Technology• Computer Equipment– Used PCs– Dual monitors– Scanners
• Computer Systems– Networks (LAN, WAN)
• Communication– Internet Service– VoIP Phones
• Virtual Tax Service
Tax Preparation Software• Functionality
– All states– Corporate returns– Bank products
• Limitations– Stability– Exporting data
• Support• Change Vendors?
– Training, learning curve– Poor support– Errors, lost data, downtime, e-filing glitches – Cost
Quality Control• Checking Tax Returns• IRS Due Diligence– Training
• Client Service– Professionalism– Tax Planning
• Secret Shopper– Checklist Report– Pay in Cash
Summary• Goal: Level the Playing Field• Use Best Practices• Provide Tax Preparer Training• Systematic Operations• Operations Manual• Policies & Procedures• Schedule of Charges• E-File / Bank Products• Employee Awareness of
Marketing• Personnel Policies• Employee Compensation• Employment Agreements
