How To Make Your Relationships With CPAs Stronger

The average CPA firm services over 800 clients each year. Typically, advisors want to build relationships with a CPA with the hope of being introduced to those clients. But the reality is, most of these relationships produce less than 10 introductions each year (yes, really). Is it worth the time you invest into that relationship for just a handful of introductions each year? What if you could get more than that? It’s possible. You just have to get a little creative. Typically, the … [Read more...]

How To Avoid The Tax Season Hangover

Tax season

If you’re like most of the CPAs we know, you’re working 60-100 hours per week during tax season. Your staff is exhausted. You’re exhausted. And your family is exhausted, too, because you’re not home very much and when you are, you’re not present. It’s not good for anyone. Hang in there, soldier. You’re almost at the finish line! But wait, before you get there, there’s something you need to think about—The Tax Season Hangover. If you’ve been in business for any amount of time, you know … [Read more...]

5 Things To Consider Before You Offer Financial Services

Financial

As a tax professional, you may have thought about how you can expand your business to include additional revenue streams such as payroll and bookkeeping. And if you’re like a lot of my clients, the opportunity to provide financial services has seemed like an idea worth considering as well. The good news?  You have lots of potential revenue-generating opportunities on the table. The not so good news? Some of them can do more harm than good to the practice you’ve worked so hard to build. … [Read more...]

How To Eliminate The Rivalry With CPAs

CPAs

Financial services companies have been competing with CPAs in the accounting and tax business for years. Many CPAs are or are in the process of becoming licensed investment advisors. As a Financial Advisor, you may find yourself avoiding a CPA who list financial services or specialty insurance licenses on their websites. It's easy to assume that the “most trusted advisor” badge automatically goes to those whose title includes those 3 little letters. This week I’d like to focus on why things … [Read more...]

How To Answer The Not-So-Quick Estimated Tax Payments Question

estimated tax

This month we’re focusing on answering some of the most common “quick questions” that clients asked. If you missed our previous posts in this series, you can find them here, here, and here. All caught up? Great! Let’s jump into our final quick question: “How much should I pay in estimated tax payments?” It may seem easy enough to take whatever your client paid last year, divide by 4, and turn that figure into your “estimated quarterly taxes" number. But before you do that, let’s back up just … [Read more...]

Key Tax Terms You Need To Know To Win The Tax Game

tax terms

Welcome back! This month we're talking about all things tax related, including tax terms. If you missed our other posts this month, we invite you to check them out now. To learn how to choose the right entity, click here. To find out how you can take advantage of some surprising tax deductions, check this out. And to get your arms around tax obligations you need to know about, look here. This week we want to share some key tax terms you need to know to win the tax game. While CPAs are … [Read more...]

How Wealthy CPA’s Profit From Answering “Quick” Questions

questions

This time of year, every minute counts.  And that’s why there are few things as frustrating as clients that call with pesky, “quick” questions that often, are not quick at all.  And worse yet, they suck away minutes from the clock—5 minutes here, 15 minutes there—until before you know it, you’ve lost several hours during your very busiest season and you haven’t been paid a dime. Not that you want to nickel and dime your clients—you don’t—however, something’s got to give.  Your time and … [Read more...]

How To Conduct An Income Growth Strategy Session

growth tax time

During tax season, most CPA’s put in at least 60 hours of work each week. They don't have the ability to look at growth opportunities for their clients at this time. It’s an exhausting few months filled with tight deadlines, anxious clients and more often than not, too few hours in the day to get everything on the to-do list done. It’s not uncommon for the clients your CPA networks manage to request help growing their wealth during tax season. After all, for many, this is when they take a … [Read more...]

How Technology & Outsourcing Can Save You Big Money

Outsourcing Technology

If you’ve ever been to a conference or meeting where a panel of people behind 7 figure success stories share their secrets, you’ve most definitely heard at least one tell you the secret to success is to spend your time working on the tasks that ONLY YOU can do and to begin outsourcing everything else. They’re right. There is absolutely no reason you should be emptying the trash, stocking the kitchen, scanning in tax forms, or securing signatures from your clients in person at this stage in … [Read more...]

How To Help Your Clients Get Organized At Tax Time

Get Organzied

Earlier this month we gave you a glimpse into the typical day of an accountant and last week, we taught you about some great time-saving hacks and technologies that you could share with the CPAs in your network. This week we’re going to give you some tips on how to add value to your relationships with clients by assisting them in coordinating their tax documents for their CPAs and get organized. By helping your client get organized for tax season, you’ll also be helping your client’s CPA. … [Read more...]