Here’s What CPAs Do After Tax Season. Yes, We Are Real People Too!

11133817_10206601525579681_5040968260832988179_nSo . . . tax season is over. YAYYYYY!!!! Okay, sorry. It’s been a long, but somehow short 2 and a half months so a mini-celebration is in order. Well, we’ve been going over so many tax issues the past few months that I wanted to lighten it up a little, and let you know what us tax professionals do outside of tax season. Yes, we are real people and we know how to function when we’re not staring into a computer screen and analyzing numbers. So here’s what goes on in case you were curious!

1. Extensions: The first obvious thing we do is get all of the extensions filed. For business returns, we have until September 15th to file. Personal returns must be filed until October 15th. We call the months leading up to those deadlines the “second tax season”. If someone extends a lot of returns, this second tax season could be just as stressful as the first. However, many professionals try to file most or all of their returns by the March or April 15th deadlines. Then they file any extensions throughout the year so their second tax season is virtually nonexistent.

2.. Continuing Education: Many tax professionals are Certified Public Accountants. Like many other professional license holders, CPAs are required to complete continuing education credits in order to remain competent in their profession and to renew their license. Each state has its own requirements for continuing education hours. However, to maintain membership in the AICPA, CPAs are required to complete 120 hours of continuing education over a three-year period.

3. Reviews, Compilations, Audits: Many tax professionals work at CPA firms that operate year round (like me!). This means business doesn’t just stop once tax season is over. CPA firms are often hired to conduct audits, reviews, and compilations. Most often this is done for businesses. Many businesses need these services to comply with boards of which they may be members or to report information to investors. If you think you need one of these services, be sure to contact your local CPA office for information!

4. HAVE FUN! Yes us tax professionals do have fun too! There’s obviously many different versions of fun, but to each their own. I personally CAN’T WAIT to have the time to read a book front to back! I also will get back to the gym at lunch time. Often during tax season, you take 15 minutes or less for lunch or no lunch at all. We eat while we work! I’ll also head up to Lake Tahoe on the weekends to soak up the sun and enjoy the beautiful view. If you’ve never been to Tahoe, you should go sometime. It’s beautiful!

Life doesn’t end when tax season ends, and as a tax professional, I can tell you that we aren’t all about work all the time. Having fun and enjoying my much-needed free time is always at the top of my list! What do you like to do with your free time? Any comments about things I should do during the off-season? Leave your ideas below!


Who the Bleep Needs to Know about Taxes?

Who the Bleep needs to know about taxes? Everyone! Here on The Tax Bleep, I’ll be discussing various tax issues that affect the common taxpayer. Are you required to pay self-employment tax? How is the Affordable Health Care Act affecting people around the country? What credits are available to people enrolled in secondary education? These are just a few of the endless topics that affect a large number of citizens. Understanding the various aspects that effect your tax return and how to utilize all avenues of tax savings can help you maximize your return and keep more money in your pocket. That is where I come in! I’ll be like Superwoman, but for your taxes! (Too cheesy?)

Okay, so who likes doing, thinking about, talking about, or having anything to do with taxes? Everyone, right?! Probably not. Most people just want to pay what they owe and cringe as they throw their hard earned money at the IRS. Everyone knows or should know what the Internal Revenue Service (IRS) is. They are the organization that is responsible for collecting approximately 90% of revenue for the ENTIRE government. When you think about how many things are provided to citizens by taxpayer dollars, such as roads, K-12 education, police and fire departments, and a vast number of other things, it is pretty amazing that one organization is responsible for generating a majority of that funding.

The IRS also instills a lot of fear in people, which is why they have begun implementing greater transparency between the organization and U.S. citizens. People absolutely dread getting that scolding letter saying “YOU OWE US MORE MONEY!” Now, before you panic, there are a few things you should know. The first may come as a huge shock, but the IRS is not the most efficient organization in the world. *GASP!* Shhhh, don’t tell anyone I told you. However, this is expected when you realize that the number of individual and business returns filed has increased by over 20% since 1998. Yet, while the number of returns being filed is increasing, funding has been drastically reduced by as much as $1.2 billion in the past five years. When taking into account inflation and price hikes, the IRS budget is roughly equivalent to the budget in 1998! Now you can see why sometimes dealing with the IRS can seem like a slow process.

If you do have to deal with the IRS aside from simply filing your return, have no fear! If you have a CPA, simply take your notice in to them, and he or she will help you handle it. Nine times out of ten there is a fairly simple solution to dealing with your issue. If you do not have a CPA, then you should get one! However, if you are not interested in having a CPA, and you would rather handle your taxes on your own, there are plenty of resources on the IRS website to guide you through many issues you may be having. Be sure to stay tuned to The Tax Bleep: where we make tax information fun (or as fun as it can be)!

Email me at, and I will hook you up with a CPA to help!