When tax season is over, we in the tax industry want to let everything go until extensions are due. While time off is often well-deserved, there are some easy things you can do to get your clients–and yourself–ready for next tax season well before January.
Life Changes: If your client lets you know about a life change, such as a change in marital status or birth of a child, let them know that such life occurrences may change their tax return significantly. Also, if they enrolled in the Marketplace for health care, remind them to report these life events to the Marketplace.
Itemizing: If a client might get a better outcome on their tax return, suggest that they itemize rather than take the standard deduction. Have the records ready to compare amounts and look for significant changes in those records.
Proforma: We at Taxware Systems provide a proforma program, a program that can greatly increase your speed and efficiency. The proforma is a list of questions that you can send your client about life changes, health care and past forms. You can send these questions to your client before the tax season starts, and it will give you a quick rundown of your clients’ needs to help you get more information for their return in advance.
Next Gen Program: While we are in the off season, be sure to take a look at our Next Gen 1040 program, with its new features and more user-friendly setup.
If you have questions, feel free to contact us!