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Cushion uncertainty associated with future tax changes with dialogue, organization

Midlands Business Journal – October 10, 2014

The duration of political standoffs is an uncertainty: paying taxes is not. “Corporate tax return preparation and submission follows a similar cyclical workflow each year,” said Chris Carlson-Dennell, managing director of Aureus Group, an affiliate of C&A Industries. “As a result, it is possible to prepare for the process far in advance of its annual arrival.” An important part of planning ahead is ensuring staff are continuously educating on process changes “ in a timely manner. “This lead time is important in arming staff at all levels with the right information and provides time for learning curves and determining if you need additional resources,” she said. “Use the prior year’s experience as a tool for planning the upcoming year’s strategy. Learn from what was and was not effective in the past.” What challenges are foreseen” What complications are expected” Are additional resources/hours needed? “When choosing a tax account it’s best to consider what your business needs,” Carlson-Dennell said. “Look at your current workforce and try to find skillsets that balance or complement the current bench strength or competency gaps. Education/CPA, experience, knowledge, talents and taxes,” she said, a strong commitment to the profession, a desire to understand the business and a “knack for clearing up the complicated.” “There is never a one-size fits all endeavor so a history of curiosity, proactive communication and thorough documentation are required to be a successful tax expert,” she said. Aureus Group’s Carlson-Dennell urges open communication and a commitment to move fast when talent is presented. “Finding tax experts is getting more challenging every day,” she said. “Talent drives strategy for all organizations.” “Hiring managers should consistently look for individuals with tax experience. Proactive interviewing ensures organizations are staffed with the appropriate manpower before the tax season begins. Even seasonal (temp) tax workers are typically committed to an employer by November for a January start.”