For CPAs: Dos and Don’ts For Firing Unwanted Clients
Before letting low-billing tax preparation clients go in favor of more robust client relationships, tax pros should carefully assess the potential in every relationship. Here are some do and don’ts to make sure you don’t inadvertently say good-bye to real long-term value.
Five Reasons Artificial Intelligence Is Not A Threat To Tax Professionals
Artificial Intelligence is a tool for accounting, as a hammer is a tool for carpenters. AI isn’t your competitor; other accountants are.
10 Tips for Tax Pros to Attract Better Clients
Tax pros don’t need—or want—more tax prep clients. They need better ones. A better client will do all kinds of wonderful things for you, and the best news is that your existing clientele is eager to become better for you.
The Persistence of Tax Season
Threats to the accounting industry are nothing new. CPAs and EAs should view artificial intelligence as a productivity tool, one that allows them to focus on more profitable and margin rich activities, like strategic planning and implementation consulting.
Tax Industry Leader Hires TurboTax to Do His Taxes. The Results Will Shock You.
I wanted real-life experience. What would the experience be like? Would it be faster, easier, less hassle, and more on my terms, or was this all about price? Was TurboTax NetJets or Spirit Airlines? Would I get nickel-and-dimed? Would there be any surprises? I determined I would be the guinea pig, and I would let my partners, colleagues, and friends know about my experience using TurboTax’s live full-service tax review.
The Stoic Investment Philosophy is Key to Tax Professionals Success in Financial Services
The Stoics of Ancient Rome believed that the universe is subject to logic, law and reason, which they called the logos, or underlying truth. The entrepreneurial tax professional who applies logos for their clients will be doing the clients — and themselves, a big favor.
Can Family Offices Ever Democratize Without Tax Professionals?
If you want to win Wimbledon, find out what Serena Williams has for breakfast. If you want truly satisfied wealth management clients, emulate the family office model and put tax pros in key positions.
Tax Professionals and the Wallet Share War
The tax professional’s unique position, a combination of deep knowledge of the client’s financial situation and inherent trustedness, gives them the opportunity to reap substantial rewards by expanding the scope of their offers, but the risks entailed are significant. The trick is to stay in the role of true fiduciary—and not try to engage in salesmanship.