Coming Down To The Wire: Additional Tax Services

The calendar may say that we are just under two months before the start of the tax season, but both you and I know our heavy volume season is just around the corner. You have probably been wondering how you are going to bring in the business and service those who trust you with their tax obligations. You have also probably been wondering besides doing an individual’s or a company’s taxes what else could you bring to the “taxes table” to provide you income after April 15th.

Now Universal Accounting has you covered when it comes to comprehensive tax preparation training. [If you haven't taken the time to look into the Professional Tax Preparation Certification more deeply please do so by clicking here] With the skills that you learn from this all-inclusive course, you will have the confidence to not only do the taxes of your clientele, and be able to save those you do business with money (who wouldn’t like that?) But you could also gain the insight on what this company’s financial status is and how they can be saving on taxes throughout the year.

Consider Tax Planning Services

What better way to continue the fantastic services you provide to your clients by offering them the ability to have a tax advisor available during their fiscal year? If you have been doing taxes for any amount of time you have been in those meetings that the business owner paid too many taxes on this, or didn’t consider this tax break then and by the time it gets to your desk it’s a little bit late to be able to gain the full advantage that is available in the tax law. As a Professional Tax Preparer, and the skills you learn when you enroll in the Program, you will be able to see more and more how savings can be done at the time of the occurance and with your talents at-the-ready your clients will be able to realize them to the benefit of their operations.

Tax Planning vs. Tax Preparation

There is a notable difference between tax planning and tax preparation: THE DATE. Tax planning must occur BEFORE the year ends, and tax preparation begins AFTER January 1st. There’s a terrific marketing advantage to the tax preparer/bookkeeper that understands how to profit from this concept.

On several occasions as a tax preparer I have received the “shoe box” from clients that have gathered their financial information from all corners of the house or office. Their instructions whether verbalized or not are, “Please make it so I don’t have to pay any taxes.”

Typically my reply is, “I’ll do all I can, but the window for most tax benefits ended December 31st — it’s too late to do much about it. May I suggest that we get together after April 15th to do some tax planning for next year.” I let them know that the consultation is free and then attempt to set the appointment. Rarely does a person decline.

During the 10-15 minute tax planning meeting, I will review their prior year tax return and discuss several alternatives they may wish to consider. They relish feeling in control of their tax position.

Additionally, if they have a small business (which is becoming more common), I suggest that, for a monthly retainer, I would be glad to monitor their finances more closely to squeeze every possible tax dollar, plus identify other profit improvement ideas. Furthermore, I let them know that my tax preparation fee at the end of the year will be lower since the accounting will be done during the year. It amazes me how many people hadn’t even considered the benefits of monthly bookkeeping.

This technique can not only bring you greater loyalty and REFERRALS from your tax clients, but it also ensures you a monthly income stream from bookkeeping revenues during the rest of the year.

By the way, if you are not a tax preparer you can benefit from this tip by simply affiliating with one. Find a preparer that is only offering tax preparation services, and offer to give them a percentage (15% to 25%) of your fees for the first year if they refer someone to you.

Tax Planning and Preparation

Tax Preparation is just the first part of the Professional Tax Preparer (PTP) program. You will also learn how to advise businesses to structure their organization to reduce their tax burden. You will assist them to strategically place themselves in a position today to reap tax rewards next year. While tax preparation peaks around the tax return deadline, there is great money to be made all year long optimizing organizations to take advantage of tax benefits and exemptions.

Information is power and we hope that by learning more about starting your own business you feel empowered to get busy and see it happen! These tips among many others are taught in the curriculum of the Professional Tax Preparer’s program. You will be able to gain these with the other marketing and business principles when you get yourself enrolled in the course.

You can do it! You’ve waited long enough to be able to take that next step. Time is racing fast and before you know it it will be too late to get your dreams of owning your own business off the ground for the upcoming season. Don’t procrastinate any longer!

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