Tax Strategies & Preparation Articles

Move Forward Fearlessly

There are many who have dreamed of starting or expanding their own businesses.  Some are waiting for the perfect time.  Others may expect a guarantee of success or a low-risk opportunity.  And others still may simply be waiting to build up the nerve to move forward.  The majority of these tentative people are now cowering in the wake of the recession, certain that their entrepreneurial dreams must wait.

Many great business owners have built their empires amidst economic adversity.  In fact, nothing better demonstrates the entrepreneurial spirit than a business owner moving forward regardless of the obstacles ahead.

“We know what happens to people who stay in the middle of the road.  They get run over.”  — Aneurin Bevan

You will have to decide whether to build your business or return to status quo.  Indecision will do nothing for your dreams but promote apathy and insecurity.  Once you make that decision to move forward, however, you must do so with confidence and determination.  This will continue to build your confidence, motivation and belief in your own potential for success.  And like attracts like-the more positive and assured you are, the greater your likelihood to become victorious and profitable.

“You can’t do today’s job with yesterday’s methods and be in business tomorrow.” - Anonymous

Accounting is the perfect service to complement tax preparation.  And there are countless local businesses in need of small-business specialists.  The majority of accountants today are trained in corporate accounting which makes up less than 10% of accounting opportunities.  Small businesses, on the other hand, comprise more than 80% of those accounting opportunities, and their needs are different from those of big businesses.  These prospective clients are looking for small-business accountants who can help their businesses achieve greater profitability.

At Universal Accounting Center, we understand the needs of the small business like nobody else. We’ve helped people like you advance their careers in small business accounting for over 25 years. Our Professional Bookkeeper (PB) Program has a curriculum designed specifically to address the needs of small business; it offers the most complete small-business accounting training anywhere.  And depending on your schedule and situation, it will only take you 60 hours to complete.

The PB Program offers numerous benefits, and here are just a few:

• The Professional Bookkeeper designation to add to your credentials
• Special training in small business accounting (which makes up the majority of accounting opportunities)
• The ability to work at your own pace
• Low enrollment costs
• Follow-up support and,
• An iron-clad guarantee

“For every sale you miss because you’re too enthusiastic, you miss a hundred because you’re  not enthusiastic enough.” - Zig Ziglar

No business can succeed unless people know about it.  So unless you market your new business, it will dwindle and, eventually, collapse.  In order to succeed, you need to employ effective marketing techniques designed to target your prospective client base.

In all our years working with accountants, bookkeepers and tax preparers we’ve come to understand that most don’t know how to promote their services to this niche market of small business.  We do!  And not only do we know how to market those services, but we know which strategies and approaches will grow your business to the point where you will become so busy you may just have to start turning clients away - that or consider increasing your staff in order to increase your capacity (and your bottom line!).

To share this priceless information we developed the Universal Practice Builder Program, otherwise known as Marketing on Steroids.  Here’s just a sampling of what you will gain from enrolling in this phenomenal program:

• A guarantee of $30,000 in new annualized billings in only 12 months
• The skills to become a Profit Expert for each of your clients
• 12 marketing strategies that you can implement immediately
• A process which can produce 15 to 25 qualified leads per month
• 3 months of coaching via telephone and Internet
• Training on a computerized database tracking program
• A presentation DVD to show potential clients
• Training to use QuickBooks to attract more clients
• Access to a plan proven to help retain clients

“Your vision will become clear only when you can look into your own heart. Who looks outside, dreams; who looks inside, awakens.”-Carl Jung

So what will you do?  Will you sit by and let the recession cloud your vision for success?  Or will you take advantage of the economic downturn to push your practice forward, enabling it to become the premier accounting and tax firm in your area by the time the recession is over and done?  Look inside yourself and take the initiative to move forward.  Enroll in the Professional Bookkeeper and Universal Practice Builder programs and ensure your likelihood for success.

Everyone makes mistakes, but there are some mistakes we can avoid by taking a few cautionary measures.  Starting a new business is hard enough; it’s best to do all you can to avoid any more obstacles than necessary.  Last week we shared 4 of 9 common startup mistakes to help you better prepare to launch your new practice:

1.    Not researching the market before entry

2.    Focusing on a narrow niche

3.    Launching too slowly

4.    Forgetting about branding, marketing, and sales

This week we’ll share the final 5:

5. Being short on passion

Before starting any business, you must ensure that it’s something you’re passionate about.  You’re going to be working many long hours to build and grow your fledgling practice; if you’re not passionate about what you’ll be doing, it’ll make your new venture more drudgery than dream-come-true.

6. Spending too much money

A financial practice is one of the more economical business ventures you can start.  You shouldn’t have to spend too much money to begin; a good computer, printer, scanner, fax machine and software package are about all you’ll need to sustain your business.  And as long as you have a good home office, you don’t even need to pay rent on a professional location.  However, regardless, some entrepreneurs still feel the need to spend more money than is absolutely necessary.  Don’t fall into that trap.  The more money you can save in building and growing your business, the more likely your business will survive long-term.

7. Bringing in unnecessary partners

Topping the list of big startup mistakes is arguing with business partners.  But before that comes bringing in unnecessary partners.  We thought we’d cover them both in number seven by encouraging you to thoughtfully consider the necessity of adding any partners to your practice.  Unless you don’t trust your own skill and expertise, you don’t need anyone else to help you launch your new business.

8. Lacking clarity in long-term business goals

It’s an old adage that has become cliché: when you fail to plan, you plan to fail.  But it’s cliché because it rings true.  Unless you take the time to articulate your vision and long-term goals, your business will lack focus and direction.  Business goals are more than mere projections of success.  As you plan how and what your business will become, your goals are the markers by which you measure success.  And the more specific your business goals, the better.

9. Refusing to receive further training

No matter how experienced you may be, refusing to enhance your skills will make you less competitive.  Also, when you add new services, like accounting, you can increase your income and your practice’s profitability.  While it may require some time, energy, and financing, without continued training your business may become obsolete.  Take the time to invest in yourself and your practice’s future.

While you can’t (and shouldn’t-how would you learn anything?) avoid all mistakes, there are a handful that can be avoided with some thoughtful planning.  And if you take the time to receive valuable training on building and growing your new business, you’ll be more likely to experience the type of success you dream of.

Universal Accounting’s Power Package

By adding small-business accounting services to your menu, your practice becomes a full-service provider that can operate year-round and not just during tax season.  Universal’s Professional Bookkeeper Program is designed to help you master small-business accounting on your own time and at your own pace.  You can earn a professional designation, demonstrating to prospective clients that you have the necessary expertise to manage their financial data.

And to learn how to promote your services to the right clientele, you need a reliable toolbox full of proven marketing strategies.  The Universal Practice Builder Program will help you master 12 of these strategies, enabling you to secure 15 to 25 qualified leads per month!  This program alone can help you avoid a slew of startup mistakes, helping you grow your business so that it’s not only sustainable, but profitable too.

Learn more about this Power Package by visiting Universal Accounting Center today!

On the reader board for a local beauty salon it reads, “We refuse to participate in a recession.”  Such an attitude inspires interest and confidence in such a business.

Too many small business owners had allowed the stable economy to lure them into complacency.  Were you one of them?  The recession, however, is delivering many a much-needed wakeup call.  If looked at positively, you can see the recession as an important lesson in attending to your business’s growth and strategic position in order to experience success.  This is the most effective way to disengage from the recession.

No Laurels Allowed

In order to be a successful entrepreneur, you cannot afford to rest on your laurels, in or out of a recession.  What does this mean?  You must always be on the lookout for ways to improve your practice by advancing your service offerings and enhancing customer service.  As a tax preparer, one key way to do this is in adding accounting and QuickBooks services to your menu.

Geometric Growth

Truly successful entrepreneurs are continually fostering geometric growth within their businesses.  And what’s geometric growth?  Linear growth requires you to do even more work for your current clients, and while that’s great, linear growth slows down over time. You can only get so far preparing taxes for the same clients. Geometric growth comes from many different angles: from existing clients, from new clients, from existing services and from new services.

By adding accounting and QuickBook services to your offerings, you attract new and existing clients to these new services, increasing your profitability and turning a seasonal business into a full-time venture.

The Professional Bookkeeper Course

Not only will this course train you in small business accounting, but it will enable you to use the accounting information you generate to act as a Profit Expert for your clients.  You will become confident watching key indicators that diagnose a business’s health.  You will understand how accounting, marketing, and production all work together in order to create a thriving business.  And you will become well versed in key marketing strategies designed to attract the clients who would most benefit from your valuable services.

There are countless reasons why this program exceeds all others, and we’ll simplify things by listing them here:

• A self-paced program you can complete in as little as 60 hours
• A modestly-priced course compared to other training programs, including those found on university campuses
• Practical, hands-on training that will prepare you for typical day-to-day small business accounting functions
• The ability to earn the Professional Bookkeeper (PB) designation
• 6 months of follow-up support with our trained professionals
• Training in proven marketing techniques that will enable you to find and retain clients
• 12 valuable instructional DVD’s and manuals designed to help you continually review and master concepts
• The confidence to become the premier full-service financial provider in your area
• An iron-clad guarantee that makes the PB Program a risk-free professional investment

The Professional Bookkeeper’s Guide to QuickBooks

But why stop with just small business accounting?  Why not add another valuable complementary service to your practice, putting you way ahead of the pack?  Our Professional Bookkeeper’s Guide to QuickBooks will help you master QuickBooks, by far the most popular accounting software used by small businesses.  Upon doing so you will not only be able to add QuickBooks services to your menu, but you will begin attracting a new demographic that will bring more business your way.

Our newly updated QuickBooks training includes the following:

• Training targeted for all user types
• The ability to work more efficiently
• 6 months of follow-up support
• The opportunity to earn a QuickBooks Specialist (QS) designation
• 16 CDs with 15 hours of training
• 4 books with over 800 pages of instruction
• Full color

Will you participate in the recession?  In adding accounting and QuickBooks services to your offerings you will grow your business geometrically by increasing your methods of generating income.  If you’re a freelance tax preparer this just might give you the opportunity to quit your day job and work as a professional accountant and tax preparer year-round.  Or this might mean that you increase the income you generate on the side.  For those of you who currently have your own tax practice, this helps you to expand your business and outlast, and maybe even enjoy, the recession.  Take steps now to grow your business.  Order these two profit-building programs today.

5 Big Mistakes to Avoid

The recession is making everyone nervous, especially small business owners.  And as a result, many are taking a cautionary approach to business management, which, in the end, will threaten their ability to outlast the recession.  If you’re interested in gaining momentum in these difficult times, you’ll be sure to avoid the following 5 big mistakes:

1. Stop Marketing

While you may need to reevaluate your marketing approach, you should definitely continue to market your services.  Determine which tactics have worked well in the past and repurpose them for the current economic climate.  Too many small businesses are decreasing their efforts to promote their businesses which will only enable their competition to eclipse them in the long run.  Now is the perfect time to heighten your efforts to market your business and gain more familiarity with prospective clients.

2. Mind Your Own Business

One of the worst things you could do is ignore your competition and their response to the recession.  You’ll gain a competitive advantage by monitoring their efforts in marketing, networking, retention, and service offerings.  Only when you’ve research the competition can you be strategic in your attempt to outlast them.

3. Wait to Self-Assess

Now is a good time to assess your efforts, determining both your strengths and your weaknesses in order to improve your business.  Prospective clients are tightening their purse strings and will be even more deliberate and thoughtful when selecting a tax professional that best suits their needs.  Your willingness to advance your business despite the recession will demonstrate your professional dedication.

4. Minimize Networking

While networking may take time, it doesn’t require a lot of money.  You would make a big mistake in minimizing your networking efforts during a recession.  You can learn a lot from other professionals weathering the economic storm, and as you continue to network, you’ll be exposed to good advice, helpful tips, and potential referrals.

5.    Sit Tight

Now is the time to make all necessary efforts to improve your appeal to prospective clients.  When you sit tight, you surrender the advantage to your competition and lose precious ground.  Look for ways to enhance your service offerings and marketing advantage.  When you do, your business will quickly become the premier financial provider in your area.

UAC’s Training Programs Will Catapult You Ahead of the Competition

It doesn’t take a rocket scientist to realize that by expanding your service offerings you can quickly expand your client base and, consequently, your bottom line.  As a tax preparer, adding accounting and QuickBooks services to your menu will not only attract more clients, but it will enable you to easily expand your seasonal business to a year-round venture.

Universal’s Professional Bookkeeper Program and Professional Bookkeeper’s Guide to QuickBooks are perfect recession-proofing training programs.  They will bolster your business with valuable services that every small business owner needs.

For more information on these two programs and their ability to strengthen your business and help you outlast the recession, visit Universal Accounting Center today!

Now, more than ever, you need your business to stand out.  People are being more selective when looking for financial professionals who can meet their every need, conveniently and for a reasonable fee.  Many, especially small business owners, are interested in a tax preparer who can also manage their accounting needs.  Small-business accountants who can consult with owners on increasing their business’s profitability are very appealing.

To truly make your business stand out you must become the premier financial provider in your area, expanding your services to include small-business accounting and QuickBooks services.  When you do, you’ll find your business becomes more resilient and outstanding, pulling ahead of the competition in order to dominate in a recessive market.

Market Domination

The best way to secure your foothold in a recessive market is to add complementary services that are required by the majority of your clients.  And small businesses are required by law to keep financial records.  Your services become even more appealing when they’re coupled with informed reporting that will help your clients make more profitable business decisions based on the sound accounting data you provide.

Small Business Accounting

Small business accounting is a valuable niche market.  In fact, over 90% of accounting opportunities can be found in the small business arena.  Universal Accounting Center (UAC) has been training professionals like you in small business accounting for over 25 years because they recognize what many do not; most universities and trade programs are teaching students corporate accounting which isn’t preparing them for the typical, real-world accounting experiences they will encounter.

Becoming a small business accountant doesn’t require years of your valuable time.  UAC’s Professional Bookkeeper (PB) Program is not only reputable, but it’s self-paced, enabling a busy professional like you to take your time or complete the program quickly, in less than 60 hours.

And when you take this program you are trained to act as your clients’ Profit Expert.  What is a Profit Expert?  A proactive accountant who realizes that the information he/she generates provides crucial data that can make or break a business.  It’s the accountant’s job to share this data with business owners, explaining it in such a way that they both understand what the information indicates and can use it to make informed business decisions.  The PB Program will train you how to do that.

You will gain the confidence and skill necessary to start and manage nearly every client’s books, and when you have a question, our follow-up program enables you to call and ask one of our seasoned professionals.

QuickBooks Services

By why stop with accounting services?  Increase your business’s appeal by offering QuickBook services as well.  UAC’s Professional Bookkeeper’s Guide (PBG) to QuickBooks will help you master this accounting software, and once you do, you can offer QuickBooks setup, help and consultation services, charging $45 to $75 per hour.

Becoming a QuickBooks Specialist would provide you with numerous ways to bring in more business, increase your income, and make your job easier.  You’ll find companies who want to do their accounting tasks themselves, but need help in configuring QuickBooks to meet their needs.  And once you’ve helped a company set up its initial QuickBooks system, who do you think they’ll turn to for help? You, of course! After all, you’ll have the training and expertise they’ll need whenever they run into a problem.

Tough times require strategic measures.  By turning your tax service into a full-service financial provider, you get your game on, working year-round for clients that not only need your services, but value them enough to tell their friends and family about your business!  Take the initiative and learn more about these two programs. It won’t be long before you can dominate in a recessive market.

Finding Opportunity amidst Economic Adversity

Stephen Fuller, the Dwight Schar faculty chair and public policy professor at George Mason University, believes “there’s always opportunity in adversity.”  In an article published on Entrepreneur.com, Fuller explains that with an economic recession comes more creativity, as professionals look for innovative ways to overcome difficulty, and with more creativity comes a surge of entrepreneurialism.

Last week we discussed how you might know if your job is in jeopardy.  With the recession, many are leveraging layoffs as the perfect opportunity to start their own businesses.  Even those with full-time work see the economic downturn as a good prospect for launching their own financial practices.  What will you do?  When life gives you a recession, we suggest you make lemonade.

Making Lemonade: Becoming a Full-Service Financial Provider

Regardless of how difficult things may become, there are always two services businesses will need: accounting and tax preparation.  The law requires it.  Becoming a one-stop financial shop for local small businesses will enable you to have a competitive edge; prospective clients will appreciate the convenience and specialized services your business offers.

Small-Business Accounting

Over 85% of the opportunities in the accounting field are within small businesses. Universities prepare their students for corporate accounting processes, leaving a huge gap in the small business arena. And with the economic recession, more and more small-business owners are looking for proactive accountants who can make their businesses more profitable, enabling them to thrive their way through financial difficulty.  Those who recognize this need and receive the proper training can take advantage of this fantastic opportunity by becoming small-business accountants.

At Universal Accounting, we understand the needs of the small business like nobody else. UAC has designed a curriculum specific to small businesses needs and offers the most complete small-business accounting course anywhere.   It’s called the Professional Bookkeeper program and will educate you in the day-to-day accounting tasks required for small business.  From establishing a business’s books from scratch to managing payroll, you will receive hands-on training that will give you the confidence and expertise necessary to take on the most diverse clients.  Not to mention, we dedicate one entire course module to the process of starting and marketing your new accounting practice.

Tax Preparation

Tax season is a busy time that can ensure the tax preparer a lucrative start to the year.  Unfortunately, the recession is causing many taxpayers to be more selective when choosing a tax preparer who can save them money now without costing them an audit later.   Many find themselves more inclined to work with individuals who have earned valuable certification.  Becoming a Professional Tax Preparer can put these prospective clients at ease.

UAC’s newly updated Professional Tax Preparer course will provide you with all the information you need to tackle the current Tax Code, enabling you to prepare most individual and business returns with ease.   And if you ever have a question, UAC’s follow-up support system will be there to respond with professional, reliable advice.

Many see the recession as an opportunity to finally start the business of their dreams.  Are you one of them?  Take this opportunity to enroll in these complementary programs: the Professional Bookkeeper and the Professional Tax Preparer programs. Your future will thank you.

Resources

Wang, Jennifer.  “Recession = More Creativity = Higher Rates of Entrepreneurship.” 3 February 2009.  Entrepreneur.com

4 Signs that Your Current Position Is in Jeopardy

“The successful always has a number of projects planned, to which he looks forward. Anyone of them could change the course of his life overnight.” - Mark Caine

According to CNNMoney.com, 2.6 million Americans lost their jobs in 2008.  More than half of those jobs were lost from September to December.  Unemployment rates continue to rise, promising that many more will lose their jobs this year as well.  If you currently work full-time, you may be worried that your job is at risk.  How can you tell?  The following four signs might help you determine whether or not you should quit your day job before it quits you.

1. Competitors are cutting back

If your employer’s greatest competitor is cutting back, chances are your employer will look to do the same, if he hasn’t already.  Yahoo hotjobs.com suggests that this is a sign that your industry is in danger.  Objectively view your position within the company to determine how dispensable you are.  While this may be a painful process, it could enable you to prepare for the worst in order to lessen the potential impact on you and your family.

2. Bosses are cutting back

If the president and other key administrators are cutting back, it is a sign that they are nearing a more drastic cutback that may include your position.  If the bosses have eliminated business lunches, luxury business vehicles, and technology purchases, you can assume that your employer is feeling recession pangs.

3. You’ve lost your appeal

Do you find yourself invited to fewer meetings and business lunches?   Are you no longer asked your opinion on key business matters?  If so, it may indicate that your superiors are preparing for your exit.

4. Changes in employer’s standing

Has your company been merged with or acquired by another?  This is a sure sign that changes are fore coming and you should prepare yourself for alternative forms of income.

Take Actions and Secure Your Professional Future

One way to prepare for job loss is to start a home business.  If you currently do taxes in your spare time, you should seriously consider evolving your part-time business to a full-time venture.  It is possible to keep busy year-round, especially when you provide crucial services like accounting and tax preparation.

Accountants Wanted!

Paul and Sarah Edwards, authors of The Best Home Businesses for the 21st Century, rate a bookkeeping service as the “Best of the Best” home-based businesses.

There are many reasons why an accounting practice makes so much sense. Here’s a list of some of those reasons:

• Every business is required by law to keep books
• You can earn a good living (the average client will bring in about $300 per month)
• It’s an inexpensive business to start (you probably have most of what is required right now)
• No expensive equipment is required
• You can make money doing what you enjoy
• You can work anytime, any place
• Rented office space is not required
• Inventory is not required

Professional Tax Certification

While Congress considers passing legislation that will require all tax preparers to become licensed, taxpayers become wearier of tax preparers without any credentials. So how do you put clients and potentials clients at ease?  By earning a professional designation that demonstrates tax preparation proficiency and competency.  In adding accounting to your tax preparation service you become a full-service financial provider, enabling your fledging practice to stay busy year-round by offering crucial services other businesses need in order to survive this recession.

Take charge of your professional future and start your own accounting and tax practice.  Start-up costs are few and potential payoffs are significant.  Learn more about the possibilities today.

Resources

Goldman, David.  “Worst Year for Jobs since ‘45.”  9 January 2009.  CNNMoney.com

Matuson, Roberta Chinsky.  “5 Signs Your Job Is in Jeopardy.”  Yahoo! Hotjobs.com

Without a sense of urgency, desire loses its value. - Jim Rohn

People who are unable to motivate themselves must be content with mediocrity, no matter how impressive their other talents. - Andrew Carnegie

Be miserable.  Or motivate yourself.  Whatever has to be done, it’s always your choice. - Wayne Dyer.

Desire is the starting point of all achievement, not a hope, not a wish, but a keen pulsating desire which transcends everything. - Napoleon Hill

They say tough times bring out the best in people.  We’re guessing our current economic slump qualifies as a tough time, especially for small business owners like you.  Is it bringing out your best?

A recession will test your character, and your response will determine what you’re made of.  Will you advance or retreat?  Whatever your response, it will be determined from by your internal motivation.  Steven Covey once said, “Motivation is a fire from within.  If someone else tries to light that fire under you, chances are it will burn very briefly.”

The last thing you should do is allow the recession to dictate how successful your business is.  Rather than hunker down to wait out these tough times, you can take initiative and empower your business with a competitive edge, making it the premier financial provider in your area.  But that choice is yours.  Will you make it?

Increase Your Services

Increasing your service offerings makes your practice more appealing to prospective clients.  Nothing will complement your tax practice more than Professional Bookkeeping services. By increasing the number of products you offer, you’ll not only be able to provide your clients with a complete financial service package, but you will also be able to generate a better income for you and your family as well.

You already know that the income from a tax preparation business peaks during the first four months of the year. Many professional tax preparers bill at rates of $100 per hour or more, enabling them to work 4 to 6 months per year and semi-retire the rest of the year. But in these financially troubling times, that might not be enough to support you and your family.  By adding bookkeeping and accounting services to your menu, you’ll create a stable income stream for your business that will be consistent year-round.

When you enroll in the Professional Bookkeeper Program you have access to the following:

• A self-paced program you can complete in as little as 60 hours
• Practical, hands-on training that will prepare you for typical day-to-day small business accounting functions
• The ability to earn the Professional Bookkeeper (PB) designation
• 6 months of follow-up support with our trained professionals
• 12 valuable instructional DVD’s and manuals designed to help you continually review and master concepts
• The confidence to become the premier full-service financial provider in your area
• An iron-clad guarantee that makes the PB Program a risk-free professional investment

Implement Effective Marketing Strategies

When you employ proven marketing techniques in order to promote your practice, you gain a competitive edge that enables you to grow your business and your bottom line.  The Universal Practice Builder Program was designed to train you how to put your practice on top, attracting quality clients using cost- and time-effective techniques.

This program offers the following:

• $30,000 in new annualized billings in only 12 months
• Tactical goal planning and setting
• The ability to generate 15 to 25 qualified leads per month
• Phone marketing instruction and training
• Training in the benefits of newsletters and websites
• 12-proven marketing strategies
• Five business assessments
• A customized business website

Most of your competitors are just as shell-shocked by the recession as you are.  Most of them are also lying low and hoping their businesses can weather the economic storm.  You will gain an advantage by improving your business by becoming a full-service financial provider.  The Professional Bookkeeper and Universal Practice Builder Programs will enable you to do that.  By enhancing your services and implementing effective marketing strategies, your tax practice will quickly become the premier financial service provider in your area.

Don’t cower to the recession.  Take action and advance your business now.  Register today!

5 Tips in Boosting Your Practice during the Economic Slump

Has your business taken a turn for the worst?  Or perhaps you’re just noticing a decrease in your practice’s profits.  Regardless of the reason, the economic slump is causing many business owners to revisit their financial standing to see how they’re faring.  The following five cautionary steps can make or break your business.

1. Write/Update your marketing and business plans

If you haven’t written one yet, shame on you.  We’re just kidding.  But it’s never too late to benefit from solid business and marketing plans.  And if you have one, an annual revision is in order.  Your business and marketing plans will assess your current standing and consider how to improve things this year.  A clear vision and a plan to accompany it will enable you to keep on track.

2. Meet with employees

If you have employees, it’s good to present your business and marketing plans to them and ask for input.  You may be surprised at the quality feedback you receive.  Also, depending on your situation, you may need to reevaluate just how much each employee contributes to your business’s profitability.  At some point you may need to let employees go in order to see your practice through a successful turnaround.

3. Meet with clients

Your clients may be privy to rumors that your business is failing.  It does you no good to ignore the rumor mill.  Meet with clients and be honest with them about your business and any steps you’re taking to rectify problems.  In fact, this is a good time to ask clients for suggestions.  Taking this one measure may prevent them from leaving your practice to look for a more stable accountant.

4. Streamline your expenses

When business gets bad it’s time to look at your spending.  Can you cut back and leave more money in the business?

5. Invest in your business

This may be the best time for a change in course.  And investing in your business may be just the answer.  Consider earning adding complementary services and getting professional marketing help.  Both will inject your business with a profitable infusion that’s sure to help you ride out the recession in comfort.

The Professional Bookkeeper Program

As a tax preparer, we already know that numbers come naturally to you.  Now all you need to do is find your inner accountant.  If your client roster currently contains small business owners, becoming an accountant would prove more lucrative than you can imagine.  These individuals need help analyzing their financial data so they can make more profitable decisions and achieve true success.  They’ve already trusted you with their financial information so it wouldn’t take much to convince them that you could also work as their accountant.

The four modules in this training program will enable you to target your services for the very valuable small-business market.  From creating books from scratch to growing your accounting practice, this program has it all.  Not to mention, you’ll receive 6 months of free follow-up support and a customized website for your business.  Upon completion you’ll also be able to test for certification as a Professional Bookkeeper (PB), a designation you can include in all your marketing materials as evidence of your expertise.

The Universal Practice Builder Program

Your business will never become profitable if you are unable to successfully market your services.  For over 25 years Universal Accounting Center has trained financial professionals like you in small business accounting.  In all our years working with accountants, bookkeepers and tax preparers we’ve come to understand that most don’t know how to promote their services to this niche market of small businesses.  Fortunately, we do.  Not only that, but we know which strategies and approaches will grow your business to the point where you will become so busy you may just have to start turning clients away.

When you enroll in the Universal Practice Builder (UPB) Program, you’ll receive a guarantee of $30,000 in new annualized billings in only one year, 12 marketing strategies that you can implement immediately, and a process which can produce 15 to 25 qualified leads per month.  And that’s just the beginning.

If your business is failing, don’t despair.  The best thing you can do to advance your practice is take action!   Invest in yourself and your business to increase your profitability now.  Enroll today!

We know that right now you’re probably thinking about what you’re going to do for Thanksgiving.  Will you be eating with the in-laws?  Maybe you’ll be inviting friends over for a feast at your house?  Or perhaps you’ll buck tradition and order pizza?  Regardless of how you choose to spend this holiday, we’d like you to think ahead to the next one.

Things may be a little tight this Christmas.  The kids might be asking for a Wii, your parents may want a Caribbean cruise, and you may just want a little peace and quiet.  While all those things are great items for a Christmas wish list, we’d like you to consider giving yourself the gift of a more lucrative future.

Whether you prepare taxes on the side or run a tax practice year-round, you can benefit from adding complementary services to your menu.  What client wouldn’t be interested in taking their finances to a practice that could perform all their accounting and tax needs?  You can gain that accounting expertise in less than 60 hours, all spent on your own time and at your own pace, when you enroll in Universal Accounting Center’s (UAC) Professional Bookkeeper (PB) Program.

Accounting Expertise

The PB course will supply all the know-how and confidence necessary for you to start and manage the books of current and prospective clients.  You will learn the day-to-day accounting functions required by small businesses, something not offered by most university degree programs.  You will gain a competitive edge that you will use with effective marketing strategies UAC will also provide.

The course consists of the following four modules:

Module 1-Accounting Made Easy. You will master the tools, procedures, and underlying principles that make up the bookkeeping processes of all businesses.  You will also understand the core building blocks of accounting and bookkeeping.

Module 2-Practical Small Business Applications. You will apply your understanding of the core accounting principles to specific industries.  You will learn to set up books from scratch, do payroll like a seasoned pro, and much more.

Module 3-Advancing your “Account-Ability.” You will learn sure ways to set up complete bookkeeping systems and manage the books for a variety of more sophisticated industries.

Module 4-Building a Successful Accounting Service. You will learn the steps to finding paying clients.  Upon completion of this module you will be able to start and grow an accounting practice following a proven program tested and perfected since 1979.

Upon successful completion of the course you can earn valuable professional certification, demonstrating your expertise.

In addition to all this, the PB program comes with the following iron-glad guarantee:

“If, after completing the course, you feel the course didn’t live up to your expectation, simply return the materials to Universal, for a 100% refund of any monies paid.”

QuickBooks Services

Adding accounting services to your menu would definitely expand your current offering and enhance your overall appeal.  When you add QuickBooks services to your menu, you become a full-service financial provider that also offers QB setup, help, and consultation services.

Consider this, Intuit charges $75 an incident and $349-$600 per year for QuickBooks support.  That’s too pricey for most small business owners, 85% of which currently use QuickBooks software; you could offer QuickBooks support for a more reasonable fee and draw in more clients in need of a little QuickBooks help. Becoming a Quickbooks Specialist will enable you to bring in more business, increase your income, and make your job easier.

This program comes complete with eight sessions that will train you in the following:

Sessions 1-3. The fundamentals of daily bookkeeping tasks, enabling you to gain a better understanding of the tasks that a bookkeeper performs. You will learn the key indicators of a company’s financial health, how to calculate them, and what they mean to your company. You will learn to interpret financial data in order to turn it into actionable business wisdom.

Sessions 4-6.  The must-know principles of marking down assets and how to depreciate them for the largest tax advantage in as little time as the law allows. You will learn methods of depreciating fixed assets and how to calculate allowance for bad debts. You’ll learn the benefits of each business structure and which form will legally allow you to pay the least taxes possible.

Session 7. The technique that will enable you to navigate the debit/credit maze and learn to use the accountant’s troubleshooting tool. You’ll be introduced to preparing financial statements and will be taught how to interpret them into practical steps you can take to increase profitability.

Session 8. Gross profit-what is it and what does it mean to the financial condition of your company? You will learn how the income accounts connect into the balance sheet.

These two programs will enable you to expand your business in 2009!  By enrolling in these courses today, you invest in the financial future of yourself and your family.  While most Christmas presents can wear out or break altogether, this gift of valuable career training will be a holiday investment you will never regret.

Enroll today and get your Christmas present early this year!