Tax Scheduling for the Solo Firm Owner
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Yesterday in Aligned Accountants, we hosted a panel discussion on tax scheduling. (Tax scheduling = having your clients sign up for a specific week they want you to complete their tax return.)
When I selected the panel, I picked 3 Aligned members, who are usually solo or almost-solo firm owners, that had just finished their first tax season with tax scheduling in place.
What I didn’t realize I accidentally did was pick 3 solo firm owners who were all running their practice as a side-gig to their W-2 job.
Well, that’s a weird coincidence…….or was it?
When I asked the panel why they decided to try scheduling this past tax season, their answers were all the same. “I’ve got another job. I need to really plan out things in my firm.”
Consequently, they all had rave reviews about scheduling their tax season (and shared their processes), said they’d never go back to not scheduling taxes.
When I was in my corporate years, I was overseeing the budget and forecast for a $500M+ division and also had a beautiful newborn that I wanted to spend all my time with. (She’s a few weeks away from being 15 now, and I’ll still spend as much time with her as she’ll let me. She went on a forest walk with me last night and it was mom-heaven.)
Back then, we had a strict 7pm bedtime for baby. Which meant…
Dinner had to happen at 5:30pm, which meant…
Daycare pick up had to happen at 4:45pm, which meant…
Walking out of my office at 4:30pm.
I had 8 hours total, and only 8 hours total, in the office every day. No wiggle room.
Which meant…
My work day had to operate like a well-oiled machine. And it did. I became HYPER efficient and effective at doing my job (despite the side-eye I got for leaving at 4:30 🙄).
What’s my point?
I think we can see our limitations (i.e. 2nd jobs, juggling parenting/grandparenting, juggling aging parents, chronic disease management, etc) as just limitations.
But I think limitations can be a gift. Stay with me…
Limitations force us to decide what’s important. Limitations force us to plan.
Limitations force us to create boundaries, like tax season scheduling and leaving the office at 4:30.
And boundaries, dearest gentle reader, are part of the magic formula.
Hope this helps!
Erica
PS - If you want to learn more about scheduling taxes as a solo or almost-solo firm owner (seriously, no book of business is too small), we have a couple resources below.
What’s Happening in Aligned
Want more info on Tax Season Scheduling for your solo (or almost-solo) firm?
Grab the Playbook > includes what tools members are using to schedule (spoiler: you probably already have these tools) and what to do between now and December to make it happen for you.
Watch the Panel Discussion recording > we talk through how they scheduled, what worked / what didn’t work, tools they used, what they’ll do different next year.
Join the discussion with 170+ like-minded, non-scaling accountants / really cool humans in the link below. $75/mo, no commitment - come and go as you please :o)
Money back guarantee, if you get in there and don’t see the value. No questions asked.
More details in the link above.