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Turn Your Tax Business into a Tax Consultancy

As you mature, you'd probably like your business to mature with you. One option is to turn your tax business into a consultancy, enabling you to have more freedom to ease into retirement as you get older. Benefits of having a tax consultancy include:

• Offering valuable services year-round
• Expanding your business by increasing your services
• Adding a service that you could easily continue to perform after retirement
• Charging the same fee for less involved services

How do tax consultant services differ from tax preparation? When you work as a tax consultant or advisor you use your specialized knowledge about tax law to provide advice, offer solutions, make recommendations, and point business owners in the right financial direction.

But where do you start? Here are 5 simple steps that will help:

1. The Slow Transition
The good news is you have a head-start. With a client roster and people who currently trust your work, you can slowly transition to a tax consultancy by adding tax consulting services to your menu. This works towards expanding your business while expanding your bottom line.

2. Revise Your Mission Statement
Changing your mission statement will help you change your mindset. A mission statement is a succinct and concise statement (generally 1-3 sentences long) that tells what you do, why you do it, and what you stand for. Once you write consulting services into your mission statement, you'll feel more like a tax consultant / advisor and will be better equipped to measure your future success.

3. Promote Yourself
When you market your business, be sure to focus on your consulting skills. Tell your current prospects that you are adding these services to your menu and be prepared to talk it up. Prepare a 30-second promo that you could give clients and potential clients in order to sell your consulting skills. What makes these services valuable? How could these services enhance your client's financial lives?

One great way to spread the word is to secure testimonials from past and current clients. People will be more inclined to request your services when they know that your clients have many good things to say about you and your services. If you've ever received a thank-you email extolling your work, add that to your list of testimonials. Ask especially positive clients to write testimonials for you.

4. Hire Someone to Do the Taxes
Only consider this step when you're ready to focus more of your time and attention on consulting. Remember that as you build your consulting clientele you'll find that you're able to pull back a bit from some of your other services as you prepare for retirement or other endeavors. This way you can maintain the amount of business you do without working overtime yourself.

5. Get Some Training
It's important to realize that your responsibilities don't lessen as a tax consultant, but they actually increase. Your clients expect you to provide financial advice on which they base major decisions that influence their financial futures. It's not only important that you provide thoughtful and informed decisions, but that you become somewhat of a profit center expert for your clients. In order to do this you must build your financial consulting skills by taking advantage of valuable training. This not only increases your credentials and expertise, but it enables you to expand your consulting services to cover overall financial advising as opposed to just tax advising.

Universal Accounting Center's Professional Bookkeeper™ (PB) Program Could Help You Become a Client's Profit Center Expert
When you have accounting expertise, you can expand your consultancy beyond tax advisement to general financial advisement. And gaining the training to make that possible is easier than you might think. UAC's Professional Bookkeeper™ Program can be completed in less than 60 hours. But those 60 hours are packed with practice in the true application of accounting principles. You won't have to listen to hours of useless lecturing; you'll be given valuable worksheets where you will complete real-life accounting tasks. And at the end of your training you'll be able to earn a professional designation, proof to clients and potential clients of your newly-earned expertise. If you'd like to learn more please order our video, "Start Today, and Have Your Own Bookkeeping Service" for just $9.95 and you can be on your way to a more lucrative and laid back pre-retirement. Order Now!

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