One of the basic truths about running a tax business is that you’re going to be busiest during tax season. The rest of the year, things can be slow, and if you’re planning on having a steady income you need to find other ways to bring in money. While some tax professionals can live off what they make during tax season, most of us like the comfort of a regular revenue stream. Creating that revenue stream means adding service offerings to your tax business. Here are some ideas for value-added … [Read more...]
Best Tax Deductions for Timeshares
A timeshare is not only a great opportunity to get away for a while, but it can also be a wonderful investment. Not only does your timeshare qualify for some of the same types of deductions that other property would get you, but there are also some specific types of deductions you may be able to claim depending on what type of timeshare you have and how you use it. Let’s take a look at some of the best tax deduction opportunities for your timeshare: Maintenance fees. The money you pay to … [Read more...]
Best Networking Groups for Accountants
Participating in a networking group can be a tremendous boon for an accountant. Not only will you find opportunities for partnerships and meet colleagues, but you’ll also hone your accounting skills and keep your knowledge current. Yet, finding the best networking groups can be a challenge. Some groups may have too broad a focus, while others may simply not have a presence in your area. Here are some of the best networking groups you should consider – both in terms of specific groups and in … [Read more...]
Dress Professionally to Close the Deal
Growing your tax business means closing sales, and that’s something that doesn’t happen by accident. Every decision you make when visiting a client or a potential client either increases or decreases the odds that you’ll close the sale. In today’s increasingly casual world, your professional dress can make a big difference in how you’re perceived. Here are some important principles to keep in mind when you look through your wardrobe in the morning that will help you dress professional and … [Read more...]
Tips For Effective Time Management for Accountants
Time is money, and this is especially true for accounting professionals. The more efficiently you operate your schedule, the more money you’ll make and the less work you’ll have to do. Yet, time management is something that most accountants struggle with at one point or another, and something that almost all of us could stand to improve. Effective time management for accountants means more money and more time to spend on the things that truly help to grow your business. Time management for … [Read more...]
Pro’s and Con’s of Starting and Growing an Accounting and Tax Business
Whether you’re just entering your accounting career or reinventing a tired business, the road ahead can seem quite long. Starting and growing an accounting and tax business from the ground up (like building any other business) can take time and hard work. Finding those first few regular clients can be a daunting task, and many would-be entrepreneurs throw in the towel and go to work for someone else before it ever happens. Buying an Existing Business The alternative to starting and growing an … [Read more...]
Accounting Website Design: Getting Found
Guest Post By: By Brian O'Connell At some point, some of us will notice a bothersome little itch that says: time to find an accountant I really like. Your connection to an accountant has a lot to do with chemistry, which will only be clear once you've met. But, there are ways to tell whether an accounting firm is going to be professional and client-centered. The best of these is with CPA websites for accountants. Looking at your potential new accountant's website will tell you a lot … [Read more...]
Midyear Strategies for Gaining Business to Business Referrals
We’ve presented over the last 2 weeks how you can use a secret formula for increasing your referrals and using stories that leave your audience begging for more. Now, it’s time to wrap things up. Since we seem to be on a magic formula kick, we’ll wrap this up with one more that you can use to turn midyear reviews into business to business referrals. Start by identifying an "A" client — one who energizes you to work with, one who reminds you why you went into business for yourself in the first … [Read more...]
3-Step Formula on How to Get Referrals
Last week I wrote about a magic three-step system for doubling your referrals. Why? Most tax business owners tell us that referrals are your single most important source of new clients. But, few of you make a point of asking for those referrals — effectively — and fewer still have systems in place for generating those all-important referred prospects. Since they still don’t teach how to get referrals in accountants continuing education, we’ll cover it here. Last week's article struck a … [Read more...]
Leveraging Current Clients For Business Referral
I've done hundreds of new member consultations. One question I always ask is "what's your best source of new clients?" The answer is almost always, "business referral." But lately, I've been pulling a bit of a Columbo and asking "just one more thing." Specifically, I'll ask "what systems do you have in place to generate those all-important referrals?" And then there's an uncomfortable silence on the other end of the phone. After all, they don’t teach this kind of stuff in accountant … [Read more...]
