ARTICLE
Accounts & Bookkeeping

CPA FAQs – How to Keep Clients Updated on Accounting and Tax Law Changes

Written by Analytix Editorial Team | March 16, 2020

Accounting law changes could mean that businesses must modify their payment obligations. However, most businesses are unaware of the consequences tax law changes have on business sustainability. They rely on their CPA for support and guidance in accounting, including tax updates.

CPAs, therefore, are no longer simply accounting professionals; they function as guides to businesses in a confusing legal landscape. CPA expertise is not just limited to accounting services or avoiding penalties and large tax payments. CPAs can grow their tax practice by educating prospects or clients about current and upcoming tax changes. Eventually, this leads to increased credibility, trust, and loyalty.

CPAs must quickly react to tax law changes and analyze the impact on their clients. They should consider turning the crucial tax law measures into simpler language and communicating the same to clients. Here are a few ways CPAs can make their clients aware of accounting and tax law changes:

  1. Social Media: Easily one of the most popular sources of news, views, and opinions. Social media channels carry user-friendly messages that allow multiple users to engage, share, and relate with each other. More importantly, this engagement allows for the true impact of the change to be communicated effectively.
  2. Newsletters and Blogs: Newsletters and blogs can communicate a complex message in a user-friendly format. Newsletters also function as a status report medium, used to communicate important information to the reader in a simple form. This makes them an effective medium to describe complex issues without losing the reader’s interest.
  3. Webinars: Webinars add a human element to communication. This goes a step further and allow readers to ask questions in the form of comments and opens up communication channels.
  4. Personal Visits: A personal, face-to-face session can follow the other methods of communication. This allows CPAs to minimize chances of errors and extend reliability and trust. CPAs can plan in advance, create materials for easy presentation, and schedule personal visits.

CPAs are poised for growth in the way they work and practice. Businesses, especially startups, face a rapidly changing legal landscape. For accounting professionals, CPA partnerships can help pitch the position as business advisors to clients. Partnerships also help CPAs access reliable expertise and infrastructure for themselves, translating into better work-life balance. Partnerships are mutually beneficial: the client business grows exponentially while also helping professionals add value to their services. CPA FAQs are a good place to start for accounting professionals to more clearly understand the concept of partnerships.

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