Seattle Small Business Blog

April 16^th is National Accountant Appreciation Day. After months of hard work, it is time to give back to the person who waded through the raging river of your return.

Imagine if you had to prepare your taxes yourself. How much would you tip yourself if you had to put everything together and certify that it all was correct and accurate to the best of your ability? Take that idea and triple it and you’ll have an idea about the actual worth of your CPA.

Here are some ideas for things you can do to show your tax accountant that you truly appreciate their time and energy spent in keeping the IRS satisfied:

Pens and pencil sets

A nice pen set will always go a long way with professionals. There is just something about feeling the weight of a well-balanced pen or nice mechanical pencil in your hand. Adding engraving or a special holder will personalize the thank you even more.

Donations to charities

Making donations in your accountant’s name, or the name of their business, will also go a long way to show your appreciation.  While they are focusing on your business and how to maximize your deductions, they may miss out on some of their own donations, and thusly, their own business deductions.

Gift certificates

After spending so much time away from their family, your CPA deserves a family night out. Why not get together with some of the other clients on your CPA’s roster that you know and all chip in for a nice meal at that fancy new restaurant in town.  Or, how about a weekend getaway for your accountant and his family. Showing your accountant that you are aware they have a family and that they often put their family on hold during tax time for you, let’s them know that you really care about them and their personal life.

Recommend your accountant to others

Letting your friends and family know about what a good job your CPA does, not only helps their business out, it also shows that you think highly of them and appreciate their good work. Helping grow their business will pay off dividends because you become a personal marketing team and your accountant will go the extra mile to help you wherever he or she can.

When all else fails, ask

If you still have no idea what to get your CPA for all their hard work, just ask them what you can do for them.  Tell him or her that you sincerely wish to appreciate their hard work with something tangible, a token, something they will enjoy and use.  Just make sure that you follow through with their request.

No matter what you decide to do, make it a point, on April 16^th, to do something to show your accountant you appreciate them. Bring them food, buy them something nice, treat them to a meal, or help them build their business by spreading the word about their services. If you don’t have any ideas, make it a point to ask your accountant what they would like.  Then follow through to make Accountant Appreciation Day a very good day for you and the accountant you appreciate.

Getting your tax return is one of the happiest feelings we tax payers know.  But, that money may be burning a hole in your pocket which makes it ripe for impulse spending.

Many times, people get their tax refund back and are not really sure what to do with it. This usually leads to poor decision-making and a loss of precious funds. Here are some useful ideas for how to use your tax refund this year.

1. Pay debts – individuals use their tax refunds to pay off old debts, so why not do the same for small businesses? Pay off that dangling bill for the electrical work you had done, or finish purchasing the forklift you started paying on last October. Paying off smaller debts is a great way to use your tax return because it increases your net worth; less debt means more overall value.
2. Invest – Stocks and bonds are a great way to think of investing, but you own a business now. What kinds of investing can you do that will pay you back in returns? How about servicing the company car that would improve gas mileage? Perhaps re-configuring the layout of an assembly line will produce more efficient movements in your workers.  Perhaps upgrading equipment in your home office will produce more efficiency.
3. Pay workers – This goes right along with investing. Happy people make productivity go through the roof. Right now, everyone could use a little extra in his or her pockets. Why not show your employees you care about them and their families by helping them make ends meet. This will produce loyalty like none other and people will be more willing to stay productive if they know you are behind them in their personal life.  Are bonuses in order?
4. Return to community – Donating to charity is always a worthy cause. Putting back in to the community is not only rewarding and great media publicity, but also counts towards your tax write offs for the next year. Using the funds to help build up the community also makes a better place to live and do business and usually, those you help are more than willing to help you out when it comes time.
5. Save – Putting money away for a rainy day is what usually saves most small businesses. With the rates that businesses go under even in a perfect economy, having a little savings in the bank is a great place to gain stability. Find a good bank that will give a decent rate and put your money in for the long haul, or until you are ready to invest it in your business.

There are plenty of things to do with your tax return, but there are only a few things that make good business sense. Before you start spending your tax return, talk to your CPA about what would make the most sense for your business, now and in the long run. You will know what you are supposed to do when it all feels right and makes the most sense financially.