Check out Jeremy’s latest podcast on retirement planning by listening on “Apple Podcasts” or “Spotify Podcasts” or read below for How to Improve Your Relationship With Your Tax Preparer.

[167] – Is your tax person overworked and underpaid?

In this episode, Jeremy Keil speaks with Randy Crabtree, Co-Founder and Partner at Tri-Merit. R&D Tax Credits, for a behind-the-scenes look at the accounting industry and how you can get the most out of your relationship with your tax preparer.

Randy sheds light on the challenges faced by tax preparers, revealing the often-overlooked aspects of their demanding work. He explains why taxpayers should work with tax preparers who understand their individual situations and elaborates on what to look for in a tax preparer. Providing a behind-the-scenes perspective, Randy talks about the dynamics within the accounting profession and the impact it may have on taxpayers.

Randy discusses:

In searching for a tax preparer, it’s crucial to consider several key factors.

By considering these factors, you can make an informed decision when selecting a tax preparer who aligns with your financial goals and provides comprehensive, value-driven services.

Tax preparers are underpaid and overworked due to several factors within the accounting profession. 

This is partly a result of a mindset within the industry that prioritizes helping clients without adequately valuing the services provided.

Additionally, there is a tendency for tax preparers to offer their services at lower rates, contributing to the overall issue of being underpaid.

The decline in enrollment in accounting schools and majors has resulted in a shortage of new accountants entering the workforce. The perception of the profession, including long hours and high stress during tax season, has contributed to a decrease in interest among potential accounting students.

As a result of this shortage, tax preparers are facing increased workloads, leading to challenges in delivering comprehensive services to clients. The demand for tax services is expected to rise, making it even more difficult for individuals to find qualified professionals to assist with their taxes.

The underpayment and overwork of tax preparers are intertwined with the broader issue of attracting and retaining talent in the accounting profession.

It’s important to build relationships with tax preparers who adopt a more relational business model rather than a transactional one. Establishing such relationships becomes crucial when you’re seeking consistent and high-quality tax services in the face of the ongoing challenges within the accounting profession.

There are many ways to make your tax preparer’s job easier and ensure a smoother tax season.

One of which is to embrace technology by utilizing tools that facilitate the integration of financial statements, investment statements, and W-2s directly into software, streamlining the data collection and distribution process.

Being organized is crucial; have your financial data well-organized to minimize the need for follow-ups during tax season, recognizing that tax preparers are pressed for time.

During tax season, minimize unnecessary contact and refrain from calling your tax advisor, opting for email, or automated communication for non-urgent matters.

You may not expect this but don’t shy away from filing extensions. This can provide both you and your tax preparer with additional time for a more thorough and accurate tax review.

Finally, consider asking for a draft return before the final submission, allowing you to review and catch potential errors or make additional contributions.

Taking these steps contributes to a collaborative and efficient tax preparation process, giving you a better experience and your tax preparer an easier and more efficient job.

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To learn more about how you can get the most out of your relationship with your tax preparer, check out the resources below!

If you have any questions, feel free to contact us or our guest, Randy Crabtree, using the contact information provided below!

Disclosures

Videos/Podcasts/Blogs (media) published prior to June 30, 2025, were recorded and approved while the advisor was affiliated with Thrivent Advisor Network. These media reflect the advisor’s views and interpretations at that time. The information and disclosures contained in those media were believed to be accurate and complete as of the date of recording, but may not reflect current market conditions or Alongside, LLC, policies.

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