Tax Season Is Over—Now What?
Relax! Rejoice! Tax season is over and now you can regain the full extent of your cognitive functions.
But what do you mean, Bill.com? My brain is working perfectly. I have no noticeable tax-season trauma.
Well, that’s where you’re wrong, Financial Professional! According to Inc., 56% of U.S. adults believe the tax-filing process is stressful and 18% consider it “very stressful.” And considering Inc. also inferred that tax season stress directly correlates to higher mortality rates, we’d say “very stressful” is an understatement.
But now it’s over—you didn’t die in a tax-related car accident. You’re alive! And you can now reap those end of season rewards.
Tax Season Spring Cleaning
Say goodbye to reviewing files and company financial records, preparing ledgers, filling out tax forms, and poring over government regulations. Those days are behind you—at least for now. And since you no doubt pushed aside other business priorities in favor of your financial duties, it’s time to get back on track.
1. Get organized.
“Spring clean” your business and get rid of that corporate clutter. Throw out those supplies that are collecting dust in your office. Follow the golden rule of efficiency: If you haven't used an item in six months to a year, it will find a better home in the trash, recycling, or donated to a worthy cause.
2. Improve your business.
Tax season forces you to take a black and white look at your business finances. Use the time you have now to look at different ways you can streamline your business, consolidate duplicate tasks, restructure your workflow, and take advantage of new technologies that will optimize your operations.
3. Plan for the summer.
We are all about that work/life balance. And the summer is a perfect time to use all of that hard-earned PTO. The lake is calling—you can finally take up that ill-advised water skiing habit. Just make sure that your business can survive while you’re off galavanting on Lake Shasta. Have the proper processes in place to make sure your business is mobile friendly. Just in case you need to check on anything before your afternoon Mojito.
4. Improve customer relationships.
While you’re in the process of "spring cleaning" your business, take some time to evaluate your important customer relationships. Your customers are your business, and it’s vital that they know their value. Make sure you are offering the appropriate support and be open to their needs and wants. Customers offer crucial feedback that can help improve your business—don’t take it for granted.
5. Take care of yourself.
Get outside, breathe in the fresh air, enjoy the sunshine, and be mindful of your health and wellness. It’s easy to tell people to relax, but it’s another thing entirely to practice it yourself. Take up Yoga, join a Squash club, eat fresh, and enjoy your life. Be mindful, and next year you won’t be part of that 18 percent.
Life moves pretty fast, so take full advantage of your tax season off-time. You deserve it!