There’s a popular misconception about tax season, that might be controversial to those who have already experienced the turbulence of tax season. This misconception is directly responsible for making this time of the year much more stressful and frustrating than it needs to be. If you’re looking to make changes for the better, it’s time to learn a little more about the myth of tax season for accountants.
To really make sense of what we’ll be discussing, let’s first take a look at the definition of the word “myth.” A myth is a traditional story that either narrates the history of a people, or explains some natural or social phenomenon. It typically involves supernatural beings and extraordinary events. Alternatively, it can also be defined as a widely held false idea or belief.
Needless to say, there are no supernatural beings or events happening during in tax season. But, there is certainly a tax season myth. Its origins come from old-school accountants, but it’s passed on generation through generation by other accountants. Because of this, many accounting, bookkeeping, and tax professionals today will find it difficult to suddenly stop believing something they’ve been told is true their entire lives.
The myth of tax season is not that the tax season doesn’t exist, but rather that you’re limited only to the traditional reactive way of dealing with it. The woes of tax season are not inevitable. You do not have to be overworked, overwhelmed, and under- appreciated during tax season.
That’s right. You don’t have to work 80+ hours during tax season and sacrifice quality time with loved ones. You have a choice. You can say goodbye to time-sucking clients, who don’t show you the gratitude and appreciation you deserve for the high-value services that you deliver. And, say hello to an incredibly profitable but manageable tax season.
While it’s true that deadlines drive an increased amount of clients to your doors, that shouldn’t necessarily incite burnout. All of the chaos and immense stress associated with tax season do not need to happen.
If you continue to tell yourself that you have to put up with the way things have always been, nothing will change and you’re going to get the same results you’ve always gotten.
Meaningful change only starts when you stop doing what you’ve always done.
Centuries ago, everyone believed that if you sailed too far, you’d go over the edge of the earth and fall off. Despite hearing this story again and again, some explorers braved the open ocean to disprove this widely held belief. We’re doing the same thing with tax season.
To destroy the myth of tax season, start by reflecting on the beliefs that keep you from accepting that tax season can be much easier. Don’t fall for the lie that there’s nothing you can do about this exhausting and frustrating period. If you want to overcome a widely held but false belief, you first need to change how you think about it. Then take the necessary actions to improve the results you’re unhappy with.
Basically, do things differently than how they’ve been historically done. The service that you provide is incredibly valuable. People need the help your financial guidance and stewardship can deliver. If you feel like you should be earning more— raise your prices. If a number of your clients continue to question and under-appreciate your services— fire them. If you’re unhappy with how much you have to work— hire help and delegate responsibilities.
If your prospective or current clients still can’t see or recognize your value, it is your responsibility to help them better understand. Help them destroy some of their own long-believed myths. Oftentimes, tax clients are surprised to learn that tax walls are an option for them, and that their finances will never change for the better.
If you need help making this year’s tax season fundamentally different, we’d love to work with you. We can show you just how much of a myth the stress of tax season really is for accountants.
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