Successful tax season in the books. Tax Season end at SBS CPA Group. It has been a very quiet day. Very few phone calls. A few people picking up and even a couple of people who were extended dropping of already extended returns. When I extend my clients I ask them to drop everything off between April 15th and May 30th so I can knock them out. Note, this also prevents us from having a second tax season which we have never had. Likely around May 10th I will make a list of all of my extensions and start sending mass emails asking them to drop off. This has always worked well for me. We try to do about 15 extended returns a week so they do not pile up at the end. In fact, right now I have 4 on my shelf to review, one to give back to Staff to rework, 2 to assign out to staff, and my staff already has about 10 extended returns they are working on with due dates a couple of weeks down the road. The 15th is always a quiet day for us; however, today was really quiet. We had goal hours worked for all nine of us and they were 20 hours less per person than prior year for 1/1 - 4/14. 1st 15 weeks of the year. We gave extra PTO and asked people to take a short week at the end of Feb or Mar. In total, between all nine of us, the firm worked 33 less hours than I projected. This is success. 4 of us worked less than goal and 5 more. I worked 2 more hours than my goal and I am calling that a major success for me. For sure this is the fewest tax season hours I have worked since 2010 or before... I will fight anyone who says that me working 2 hours more than my goal over 15 weeks is not success. Especially since it is my fewest hours worked over these 15 weeks since at least 2010. We put out 1,002 income tax returns. 732 1040's and 270 PTE's. We put out two more returns than I expected. We have extended another 327 returns. We completed 75.4% of our returns and extended 24.6% and this is normal for us. We do not want to extend more than this because this week we started our slow season schedule. 37 weeks where everyone is only expected to work 32 hours a week and take a 3 day weekend every week. Half have Monday off and half Friday. Yes two of our staff took today off... We also do not want more extensions because we do a lot of year around work, mostly bookkeeping and payroll. We also have some messes we extended and are summer projects. 4 of the 9 of us are taking vacation sometime in the next four weeks. 2 are taking tomorrow off. 4 are taking Friday off. We are current on our client bookkeeping and have been the last 3-4 years when exiting tax season. There was a time when we would put bookkeeping on hold and that is no longer the case. Firm revenue is up 16.6% 1/1/24 - 4/14/2024 as compared to 1/1/23 - 4/14/23. This is due to price increases. I am satisfied. There are more changes to make and we have a lot of new things scheduled to change this off season; however, I am satisfied. #cpa #ea #tax #accounting
@MikeSyl36625988 I love how you track your stats so well. Congrats on a successful season and reaching your goals.
@MikeSyl36625988 How do you handle half day Friday/Monday? Mornings, afternoons or combo?
@MikeSyl36625988 Congrats to the whole team! I’d call that a quite successful tax season. And I love the real-time firm stats you share!
@MikeSyl36625988 Congrats to your team and yourself! Looking forward to see your analytical mind working with TaxDome and see the before&after in 2025
@MikeSyl36625988 Just curious, what is your firm's annual revenue?