Tax Obligations You Need To Know About

obligations

This month we're talking about everybody’s favorite topic: taxes and tax obligations. We know, we know…it’s actually not your favorite topic, nonetheless, it’s a very important topic so it’s something we’ve got to address. If you missed our first two posts this month, make sure you check out our posts on How To Choose The Right Business Entity and Surprising Tax Deductions—both are full of insights you need to know. This week we'll be continuing our series by talking about tax obligations … [Read more...]

How To Make Net Operating Losses Tax Wins

tax

Regardless of what you think about President Trump politically, there’s one thing we can all agree he knows how to do well: play the tax game. While on the campaign trail last fall, The New York Times reported that Trump took an astounding $916 million loss on his 1995 income-tax return—which equates to more than 9,000 times the average amount claimed that year by all of the other Americans that applied business losses to offset personal income and, get this, opened the door to possibly … [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 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...]

How To Work Within A CPAs Schedule

CPA Schedule

As a financial advisor, it’s always good to expand your connections and try to create relationships with new CPAs. In order to do that, it’s important to keep in mind just how hectic tax season gets for CPAs. This will allow you to respect their time and give you the ability to know how to best connect with them and work within their schedule. Let’s take a glimpse into a typical day in the life of a CPA. The average accountant works 60 hours per week during tax season. Most CPAs start each … [Read more...]