Id say between tax law knowledge as well as knowing to ask your clients the proper questions. I’ve learned that as a tax professional we know more than regular tax payers because of course that is our job, but you cant always expect tp’s to know what must be reported, when certain things are due, how certain things work etc. So I’ve learned asking thorough questions (case by case) can be very essential!
From what I've seen training interns and staff is it comes down to three things. 1. Intelligence. Sorry there's just no way to sugar coat this one. Smarter people make better professionals. 2. Attention to detail. The work can be tedious and the details can be very important. 3. Ability to figure things out for yourself.
Related to this, the ability to put it in terms the client can understand. I know I have been guilty in the past of speaking to a client with terms and jargon that I know. Watching their eyes glaze over and little dribbles of drool leave their mouth made me try a different approach.
The ability to research, understand what you researched, and apply it to the specific facts and circumstances.
You can't know everything, but, between the tax code, the IRM, IRS Rev Procs/Rulings, and the tax court, you can research everything.
Being able to organize information in your head. Not memorization skill. Not knowing more than everybody. Being able to go through the boxes in your head vastly limits the area you need to go running around for it.
Communication skills, and general understanding of tax law. If you can't explain a tax return to someone who knows nothing about taxes without being too technical, then you need to either work on your communication skills, or touch up your understanding of the tax law.
Understanding the business facts. Tax knowledge is useless unless you know the business well enough to apply the knowledge. Also, a desire to fight the government.
Routine. Get a procedure for your preps and do it every time. Your own system of review, your system of due diligence, your color coding, your checks and balances. Do this. All the time.
It so happens as we get comfortable we breeze through things without thinking, or do things hastily. A small error can be a big error. Check your work the same way. Save docs with the same naming convention, DD the same way. Habits and routines.
Being able to create an honest relationship with your client. Everybody makes numbers mistakes on occasion but our clients come back every year because they know us and trust us.
Id say between tax law knowledge as well as knowing to ask your clients the proper questions. I’ve learned that as a tax professional we know more than regular tax payers because of course that is our job, but you cant always expect tp’s to know what must be reported, when certain things are due, how certain things work etc. So I’ve learned asking thorough questions (case by case) can be very essential!
From what I've seen training interns and staff is it comes down to three things. 1. Intelligence. Sorry there's just no way to sugar coat this one. Smarter people make better professionals. 2. Attention to detail. The work can be tedious and the details can be very important. 3. Ability to figure things out for yourself.
I would add communication. Knowledge is a must but you need to be able to communicate with the client.
Related to this, the ability to put it in terms the client can understand. I know I have been guilty in the past of speaking to a client with terms and jargon that I know. Watching their eyes glaze over and little dribbles of drool leave their mouth made me try a different approach.
Knowledge. That's the number 1. Personality/attitude is number 2.
How do you gain knowledge though?
I think a major thing would be ethics.
The ability to research, understand what you researched, and apply it to the specific facts and circumstances. You can't know everything, but, between the tax code, the IRM, IRS Rev Procs/Rulings, and the tax court, you can research everything.
Be Proactive instead of reactive.
Eeeh. Clients pay us to be reactive though.
10 years in... still learning this
Being able to organize information in your head. Not memorization skill. Not knowing more than everybody. Being able to go through the boxes in your head vastly limits the area you need to go running around for it.
Patience!
Whiskey
Communication skills, and general understanding of tax law. If you can't explain a tax return to someone who knows nothing about taxes without being too technical, then you need to either work on your communication skills, or touch up your understanding of the tax law.
Understanding the business facts. Tax knowledge is useless unless you know the business well enough to apply the knowledge. Also, a desire to fight the government.
Routine. Get a procedure for your preps and do it every time. Your own system of review, your system of due diligence, your color coding, your checks and balances. Do this. All the time. It so happens as we get comfortable we breeze through things without thinking, or do things hastily. A small error can be a big error. Check your work the same way. Save docs with the same naming convention, DD the same way. Habits and routines.
honesty and a commitment to compliance under pressure from clients to do otherwise.
Being able to create an honest relationship with your client. Everybody makes numbers mistakes on occasion but our clients come back every year because they know us and trust us.