Playbook for Tax Season
Be the Quarterback Your Team Needs to Win in Tax Season
By Tyson Lee
I love watching football this time of year.
I’m more a fan of college football than the NFL. That’s because I live in Atlanta and still cannot get over the 2017 Super Bowl, when the Falcons blew a huge lead and lost to the Patriots.
Anyway, for any good football team, the quarterback is the backbone of the team. He must study film and develop and execute a game plan to give his team the best chance to win.
Quarterbacks must also be able to read the defense and predict what it’s going to do on every down for their team to score.
This tax season, you’re going to have to be a quarterback. You’re going to have to understand what’s going on in the marketplace and make the right call. You’re going to have to prepare and study all the changes in the tax codes before tax season gets here.
One fear I’ve heard from dealers across the country is many customers or potential customers who were drawing unemployment during the COVID-19 pandemic also filed “exempt” and did not have taxes withheld from their unemployment checks.
Those individuals are going to be paying a lot more taxes this year than they’ve been accustomed to paying. That could affect the strength of tax season and could have an impact on delinquency in your current portfolio.
You might have to be inventive or flexible to help those customers.
If that happens, you might have to ramp up your marketing to enhance your tax season.
Contact your city, county or local chamber of commerce and ask what businesses in your area have a large employee population.
Once you have that information, go in person to those businesses and see if you can leave a flyer in the break room or other area where it will be visible to those who work there. Take a few boxes of doughnuts when you go and they’ll never be able to say no.
You can also put out advertising signs...To Continue Reading, View the December Issue of BHPH Dealer Magazine at www.bhphdealermagazine.com or click "BHPH MAGAZINE" in the menu at the top of this page.