Art of Accounting: Happy New Year
Here are some suggestions of ways to feel happier in 2019.
• Take off Fridays. Work a four-day week — work some extra hours each day to “pay” for the extended weekend if necessary.
• Reduce the mortgages on your time. Follow my three simple rules: Do It Now. Touch It Once. Always work on your Most Important Thing first each day. DIN. TIO. MIT.
• Reduce mandatory tax season hours for your staff.
• Increase all your fees to at least keep you even with your increased costs.
• Make sure you fully fund your retirement plan.
• Set aside at least a half day a month for an owners’ or partners’ meeting. Plan your future deliberately. Make it the future you want. Run your practice like the business it is.
• Get your personal and practice’s tax returns done without extensions.
• Tell your spouse or partner how much you appreciate them, more often.
• Catch your staff people doing something good…and then tell them.
• Give a little more to charity. You are not here alone.
• Talk less. Listen more.
• Be nicer.
These are suggestions, but as I learned to do each of them, my life, outlook and fortunes have improved. I can list a couple of dozen more items, but use this as a start.
Edward Mendlowitz, CPA, is partner at WithumSmith+Brown, PC, CPAs. He is on the Accounting Today Top 100 Influential People List. He is the author of 24 books, including “How to Review Tax Returns,” co-written with Andrew D. Mendlowitz, and “Managing Your Tax Season, Third Edition.” Ed also writes a twice-a-week blog addressing issues that clients have at www.partners-network.com along with the Pay-Less-Tax Man blog for Bottom Line. Ed is an adjunct professor in the MBA program at Fairleigh Dickinson University teaching end user applications of financial statements. Art of Accounting is a continuing series where Ed shares autobiographical experiences with tips that he hopes can be adopted by his colleagues. Ed welcomes practice management questions and can be reached at (732) 964-9329 or email@example.com.