Meeting people who eventually become clients is the goal of any successful business. Networking is one way to do this but it also costs money. Is it worth the investment? What’s the ROI? There will always be a return on investment as long as you are able to convert prospects into paying clients. That goes for everything you do. Sales is a number’s game. The more people you meet, the more relationships you build and the higher your conversion ratio. Can we agree you’re not going to meet … [Read more...]
3 Ways Outsourcing Saves Time and Money
Most entrepreneurs are hands-on people. Because they are doers by nature, they often believe no one can perform a task as well as they can, so outsourcing doesn’t usually cross their minds. Small business owners end up doing everything themselves – even simple tasks that can be outsourced to subcontractors. Guess what happens? Plates overflow, nerves fray, and things fall through the cracks. Sometimes important things. Outsourcing can prevent all of this. What is Outsourcing? … [Read more...]
How To Turn Extra Office Space Into Extra Income
Wouldn't it be nice to relieve the financial stress of the off-season by creating year-round income? If you own an office space, or even possibly if you rent one, you could be leaving a lot of money on the table if you’re not subletting or renting it out when you’re not using it. How many hours each week is your office completely empty? If you reduce your hours during the off-season, and especially if you work from home more often, you should consider these options: Rent out your … [Read more...]
A New Twist On Your Old Connections
Professional investors are always on the lookout for opportunities to expand their wealth by providing the capital growing businesses need in exchange for equity. And chances are, given what you do as an Advisor, you know more than a few investors. Meanwhile, the CPA’s you’re trying to strengthen your relationships with are often the first people to find out that a company on the move is seeking investors. Do you smell synergy? We do. Here’s the deal: When you make a point to establish … [Read more...]
How to Protect Your Client’s Retirement
Income taxes are one area where your clients can make a substantial number of mistakes when planning for retirement. Many individuals, financial advisors included, do not have the knowledge or training necessary to protect their client's retirement correctly. Thousands of dollars may be forfeited in this way, resulting in a lower standard of living for your clients. Retirees often receive income from a variety of sources including interest and dividends from taxable accounts, IRAs, Social … [Read more...]
Common Miscues That MAY Get Your Client Audited
Is one of your clients about to get audited by the IRS? Have you ever wondered why some tax returns are audited, while others aren’t? The IRS doesn't have enough personnel and resources to examine every tax return, so they rely on a variety of systems to target the returns that will generate the most revenue per hour for an auditor’s time. Here are several common miscues that may get one of your clients audited: Miscue #1: Your Client's Tax Return Doesn’t Match Reports Sent to the … [Read more...]
Tax Secrets Most Financial Advisors Forget to Tell Their Clients
If your clients are investing for retirement income, it pays to focus on tax savings to get them there quickly. Your clients can take the money they would have given to Uncle Sam and grow their wealth instead! Here are two tax planning secrets most financial advisors forget to tell their clients: Tax Planning Secret #1: Let the government help pay for a child’s college education If your client owns a business, they could hire their children to perform routine tasks such as filing, … [Read more...]
Staying Current with New Tax Laws
More than many other professionals, tax professionals are constantly faced with the need to keep their knowledge and their skills current. Tax laws change – sometimes dramatically – from one year to the next. If you’re not up to speed on the latest changes, you’ll wind up making more work for yourself and potentially costing your clients money. What makes this situation even more frustrating is that the government often makes changes at the last minute, and that it takes time for new tax law … [Read more...]
Tax Business Tips for Success
It takes more than a thorough knowledge of tax law to build a successful tax business. In fact, some of the markers of success for your business will have little – if anything – to do with your knowledge of taxes. And, while every tax business is different, there are certain common threads that seem to run through those businesses which have been able to stick around. Here are some of the common characteristics of a successful tax business: The owner of a successful tax business is … [Read more...]
Working with Small Business Owner Taxes
As a tax professional, you’re in business to help your clients. You want to see them in the best possible tax situation they can be in. When your clients are small businesses, you know that you’re working hard to protect someone’s livelihood, and that you’re helping to fuel the great engine that is the backbone of the country’s economy. Working with small businesses can be challenging, at times. Small business owner tax records can be disorganized. They can be very busy, and reluctant to take … [Read more...]
