How to Cope With Tax-Time Stress?

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Aug 17, 2022

How to Cope With Tax-Time Stress?

You cannot prevent anxiety attacks, spontaneous sweating, and a general sense of AAGHH! When a stack of tax returns or too many last-minute clients come on your desk, arrive before the tax deadline. With the appropriate action plan, you can control everything and return your vitals to normal in no time.

It would be advantageous to handle tax season properly, so you do not face overwhelming odds. Tax season should not dictate your lifestyle.

As a CPA, you must know how to reduce tax season stress to increase your efficiency and profitability during tax season 2022.

Yes, the relationship between stress and tax season productivity is negatively proportional.💀

The lower your stress level, the more efficient your work. 😺

Simply stated!

Here are 5 strategies to cope with the tax-time stress

Striking the perfect professional and personal balance

During the intensely busy season, CPAs put in unimaginable hours to guarantee that tax returns are completed by the deadline. Working more than ten hours a day is not good for your health.

Balance between Work and Home Concept. Tiny Male Characters Balancing on Huge Scales with Basic Values Career and Family

Therefore, maintaining a work-life balance is crucial. It will improve your health, performance, and productivity at work. 

Bonus: Determine the amount of work you and your team can do. To recruit more tax preparers, you should do tax preparation outsourcing and collaborate with an accounting outsourcing service to scale your team quickly and efficiently. 

Outsourcing is nothing but recruiting a Skilled Remote Team; needless to say, Cost and Value Benefits, and Time Differences play a huge favorable role during crises.

Keep active (enjoy your evening walk) 

Sitting straight for 8-10 hours in front of a computer screen is bad for your neck and back.

Keep Active

Therefore, movement is required during the average workday. Ensure you take regular coffee or food breaks if you work from home. Uninterrupted concentration on a task can sometimes increase stress and diminish productivity.

Therefore, ensure that you take breaks every hour or two. Stand up, take a few steps, and try to refocus and lessen your stress throughout tax season, even if it’s difficult.  

Bonus: Delegating work to a team of tax preparers who do not require close supervision is the best option. Tax outsourcing enables you to accomplish precisely this. Employ a tax preparer with the required experience to free up your crucial time to maintain a healthy routine. 

Talk about it with your team or partners

CPAs experience stress and anxiety due to the tax season’s stress. And frequently, this stress becomes uncontrollable. Here, straightforward communication is advantageous.

Talk with Team

Discuss difficulties with your partners and team; devise strategies for resolving challenges. Ensure that all choices are made on a majority basis – so that the burden of decision-making rests not only on your shoulders but is shared by all stakeholders. Stress is reduced if you and your team communicate effectively and clearly. 

Bonus: Discuss the viability of outsourcing tax return preparation. You can save money using an outsourced tax preparer as a Full-time Equivalent FTE. 

Take proper 8 hours of sleep

A CPA’s greatest wish is to get sufficient rest during tax season. However, it is a distant dream, and they are fortunate if they can sleep.

8 hours of sleep

During tax season, they typically work through the night to fulfill the rigorous tax deadline. This practice must be discontinued. You must guarantee that you are obtaining a restful night’s sleep to rejuvenate, reenergize, and prepare to face any problems. 

Bonus: Before the tax season begins, expand your workforce and increase capacity. If you intend to engage seasonal personnel for the season, do so as soon as possible. To avoid having to scurry and have sleepless nights during the tax season, many accounting companies begin seeking suppliers to whom they may outsource tax preparation. 

Stay Calm and Outsource

Tax season should be busy because tax preparation is a commodity activity that generates substantial money. However, this should not come at the expense of one’s mental health or peace of mind.

In addition, this should not come at the price of your clients, who may require additional services like bookkeeping or payroll.

You must prepare for potential obstacles, such as staff shortage, team burnout, and extended work hours that impair team members’ work-life balance. In this circumstance, tax outsourcing can help you achieve a competitive advantage. With an expert in offshore tax preparation, you have the option to delegate your workload. 

They are an extension of your team. While they handle operational chores, you can concentrate on customer service and managing client expectations. 

Tax Outsourcing Allows a Stress-free Life, but How?

As the owner of an accounting firm, you desire to make your workers’ life happier and less stressful. During the peak season, however, it is tough for your internal team to manage the stress and workload.

You will have access to additional workers with a tax outsourcing team on your side, preventing the internal team from getting overworked. In addition to relieving your teammates, this will help you save up to 50% on expenses.

Your team members will no longer be required to undertake basic compliance activities, allowing them to devote more time to their specific areas of interest. 

Cheers Towards a Stress-free Tax Season, 2022

As a CPA, you must fight the harmful perception that tax season is synonymous with excessive work hours. It would be beneficial if you prioritize your physical and emotional wellness and that of your staff. Take measures to control your workload and reduce your stress levels.

We hope that the advice in this blog will help you better manage yourself and your team. Don’t hesitate to contact us at [email protected] or +1 407 807 0100 if you are interested in outsourcing your tax returns. 

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