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Please Tell Your Accountant: Importance of Communication

Updated: Mar 29, 2022

The Accounting Industry: Can Firms Keep Up?

​​Communication is the key! In all services you have to have communication to get the service completed. It is extra important to convey information to your accountant. For us as the accountant, we need smooth and open communication with you for us to correctly prepare your tax return. We need to know any new life events or information that has taken place in your life in the past year.

Some examples of information that we need to know of are the following:

  • Any new income

  • A new business

  • Change banks

  • Buy a house

  • Change jobs

  • Get a tax notice

  • Get a tax document

  • Get a divorce

  • Moved this year

  • Change your CPA

  • Get a stimulus check

  • Buy a car

  • Buy a vacation home

  • Rent your home

  • Have any medical expenses

  • Pay student loan interest

  • Donate to charity

  • Make an estimated payment

  • Make an investment

  • Did you sell any stock?

  • Do you have a side hustle?

  • Was your child in a commercial?

  • Do you save for retirement?

  • Did you gamble this year?

  • Did you trade crypto?

  • Did you upload any documents to ShareFile?

We want to make sure there is nothing missing on your return that could give you a bigger tax deduction. The more productive you are communicating with us, the more productive we can be on finishing your tax return and the more money back in your wallet.

There have been instances where the client has not been responsive when we are preparing their return. This causes delays on our end and on the clients end. If you are waiting to receive a refund, a lack of response will delay the client obtaining that refund. If a client owes money and does not respond in a timely manner, then they will accrue more penalties because of late tax payments.

We want to ensure your return is as accurate as it can be. We can achieve this by providing the best communication possible and fostering a cooperative relationship with our clients. We all want your return to be completed correctly and efficiently. If you need to get in touch with your accountant please visit!

By: G.G. Burkhalter, Tax Senior at CROFT & FROST

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