by Michael Wherry, CPA & LSS Black Belt and Dustin Hostetler, LSS Master Black Belt
“In this world, nothing can be said to be certain except death and taxes.”
— Benjamin Franklin
What does the tax department of the future look like?
What is your firm doing today to get there?
The quote above is often attributed to Benjamin Franklin, though some scholars suggest the idea was floating around for at least 60 years before Franklin made it famous. No matter the source, how does this apply to your tax department today? How does it apply to your firm’s tax department 5, 10, or 20 years from today?
Technology is making it easier for you to prepare tax returns. However, this same technology allows clients to expect more done in less time. The tax department of the future will need to find the right balance of technology and services to remain relevant — allowing you to continue adding value
and growing your client relationships. To this end, firms should focus on developing the correct mindsets, skillsets and toolsets of their professionals to maintain relevance in the future.