Tax Practice Management

    Tax Practice Management 


    Light houseWhen it comes to running and managing a successful tax practice or tax department, you need the right tools and resources. CPA tax practitioners have unique and distinct needs – we understand them and have the resources to help you succeed! This page offers guidance, practice aids, tools, and educational resources specifically designed to help CPA tax practitioners better understand and deal with the day-to-day issues they face running a business that delivers tax services.

    Tax practice management topics include operating procedures (e.g., tax service delivery workflow), quality control procedures (e.g., technical review, compliance with tax practice standards), client communication strategies, managing technology (e.g., client portals and digital signatures), and billing practices. Tax practitioners also have unique staffing challenges, such as hiring for busy season, leveraging tax staff year-round, and retaining staff with the right mix of technical competency and business acumen to assure continued growth.

    More generalized firm practice management guidance in areas such as firm-wide operations, peer review and accounting and auditing issues, succession planning, and more is available in the Firm Practice Managements – PCPS interest area. The AICPA’s PFP Practice Center offers specialized resources for adding or expanding into personal financial planning and wealth management services. The AICPA’s Information Management and Technology Assurance interest area offers more substantial resources related to information assurance, internal controls, business process improvement, data analytics, and enhanced business reporting. We encourage you to learn more about all of the AICPA interest areas for more specialized guidance and resources related to managing all aspects of firm operations, management, and technical service delivery.

    Browse our complete library of tax practice management resources using the predefined search filters on the left. Clicking on these filters will result in a list of resources based on your choice. “By Topics” will result in a list of different types of resources and documents related to that topic. “By Document Type” will result in a list of resources of a particular type (e.g., checklist, sample letter, or engagement letter) regardless of topic. You can apply multiple filters to narrow your search.

    Tools & Resources

    We are constantly in the process of developing new or updated existing resources. Below are some of our highlighted resources.

    • Busy Season Resource Page: Dedicated webpage to serve as your one-stop-shop for the resources, updates, and news you need as tax practitioners during filing season
    • Service Proposal Worksheet: Two different Excel billing templates; a fee schedule template and a value billing worksheet, both include short guidance on how to use the resources.
    • Client Communications Tracker: Template worksheet that firms can use to capture information touch points from all staff for each client; includes guidance on why and how to use the resource. 
    • Tax Power Hour: Value Pricing: From Soup to Nuts : Webcast archive from our Tax Power Hour series that provides information about service opportunities and ways to tap into a new revenue stream.
    Learning

    Virtual
    • Tax Power Hour: Valuing Your Tax Practice, May 21: During this session, learn how to reasonably calculate a valuation of a tax practice.  Examine factors such as revenue stream, client mix, profitability, term expectations, and more.
    • Tax Power Hour: Best Practices for Managing Remote Employees in a Tax Practice, June 18: This webcast will address practitioners’ concerns and discuss ways to make remote employees successful.  We’ll explore technology (VSee, Skype, etc.) and provide practical tips on how to manage a remote employee (including tips on who should or should not be a remote employee). 

    Self-Study

    In-Person

    This symbol identifies tools and resources available exclusively for Tax Section members. When accessing premium member-only content within the Tax Resource Library, you will be prompted to enter your user ID and password to validate your Tax Section membership. Not a member? Learn more about these premium resources along with the many other benefits of membership in the AICPA Tax Section.

     

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