Ever wondered what accountants do to unwind during the busy tax season? Accountants are whizzes at balancing the books, but many of them find themselves feeling slightly unhinged once tax season ends.
Strange as it may seem, accountants, get a rush contributing to their client's success during tax season. But now that the busy period is drawing close, what do busy accountants do to unwind?
From calculating the final tax payment to accounting for related aspects of a business, the professionals in this field have it tough. Most tax-related work needs to be done with intensive and meticulous care and attention to detail, which can take up lots of time and effort.
With everything going on during the busy tax season, it's easy to get stressed and anxious working on different tasks. That explains why accountants often look for ways to unwind after a tiring day of work. Below are tips for accountants to relax and de-stress at the end of the day.
Top 11 Tips to Prevent Tax Season Burnout
The key to surviving - and thriving - during tax season is to create a work-life balance that won't cause you, your clients, or your family to feel like they are taking the backseat.
Here are the top 11 tips that will help you maintain a healthy work-life balance during tax season:
1. Set Realistic Expectations
Being realistic about your workload and capacity is critical for keeping your sanity during tax season.
For example, suppose you are a new business owner who has decided to take on clients for the first time during tax season. In that case, it's not realistic to expect that you can manage all of the tasks required in your business and deliver quality client service simultaneously.
This is why creating a realistic workload during tax season is so important. If you have more work than you can handle, don't be afraid to turn clients away or hire someone else to help with tasks like bookkeeping or administrative duties.
2. Schedule Breaks
For the typical accountant, one of the last things on your mind during tax season is making time for self-care activities like exercising, eating healthy meals, or getting enough sleep.
But these activities are necessary if you want to avoid feeling stressed or burned out when April 15th rolls around.
3. Take Time To Get Outside!
Yes, it is tax season, and we all have a lot of work to do, but it is essential to take time for yourself, even if it is just an hour or two on your lunch break. Get outside and enjoy the sunshine. Go for a walk, ride your bike or play a game with your family or friends.
Taking time away from work will help you relax and refocus to work smarter and improve your productivity when you return.
4. Lower Distractions
This can be easier said than done. Many aspects of tax season are entirely out of your hands. Clients may become impatient or ask questions that you aren't fully prepared to answer. The key is to remain calm, no matter what the situation.
Don't get worked up over things that you cannot control. If a client becomes angry with you, take a deep breath and politely explain the situation to them in a calm tone of voice.
5. Hire Help
It might be best to hire additional help for your office during tax season to avoid burnout. You can even consider taking on an intern from a local university or college pursuing a degree in accounting or finance.
This would also allow more time for yourself and give you a chance to focus on more important matters involving your business and your family life outside of work.
6. Decrease Time Per Tax Return
There are many ways to decrease the time per tax return, but the simplest way to begin is by reviewing your process. Identify steps in your circle that can be done in parallel or automated. Some examples of these steps include:
- Invite clients to use an online portal to upload all of their documents and information, instead of collecting via email or mail
- Utilize online research tools such as RIA Checkpoint to look up IRS forms, check citations, and perform other related searches
- Automate tasks through software solutions such as Thomson Reuters ONESOURCE Workstream, which allows tax professionals to automate critical workflows like workflow management, client onboarding, and extension filing.
7. Stay Appreciative
Make sure you're appreciating what you're doing this tax season. You're helping people get their taxes done right. Also, make sure to take breaks. Get up and stretch every once in a while or go for a quick walk around the block.
Lastly, please do not compare yourself to other tax preparers or try to compete with them on who can complete more forms in an hour (this could lead to errors).
8. Eat Well
It's easy to let your diet fall by the wayside when you have a lot to do during the day. But eating right is essential in keeping your energy levels up and maintaining your productivity. Opt for healthy snacks such as nuts and fruits, which are packed with nutrients and maintain your energy levels.
Stick with a balanced diet that includes lean proteins, fruits, vegetables, and whole grains. Avoid sugary foods because they will temporarily increase your energy levels before crashing quickly afterward.
9. Leverage New Technology
New software can make tax preparation more accessible than ever. For example, if you use QuickBooks Online Accountant, you can transfer client data directly from their QuickBooks Online (QBO) company file into Tax Online in just one click.
With ease, you can also use the built-in Profit & Loss statement or create custom reports to access key financial information about your clients' businesses.
10. Celebrate The Deadline
The final day of tax season can be stressful for accountants and their clients, but once it has passed, you want to be able to look back on it fondly.
Planning some event for your office or with your clients will give you something to look forward to during the more stressful times!
11. Prioritize Your To-Do List
You should have a list of all the most important things that need to get done before April 15th, but if you're working under pressure and starting to feel overwhelmed, make sure you don't lose sight of the high-priority items on your list. Don't procrastinate when it comes to the things that matter most.
As an accountant, if you have found the information in this article helpful, be sure to share it on your social media accountant so that your peers can benefit from it too.
References:
https://www.journalofaccountancy.com/newsletters/2016/feb/reduce-stress-of-busy-season.html
https://www.dh-cpa.com/tips-for-accountants-03-13-19.html
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