On April 6th the IRS announced that it is accepting nominations for the Electronic Tax Administration Advisory Committee (ETAAC). The deadline for submitting applications is May 24.
The ETAAC was established as part of the Internal Revenue Service Restructuring and Reform Act of 1998 and serves as a public forum used to discuss issues and recommendations for improved electronic tax administration.
The application package includes a nomination (by letter from a professional associate), the completed ETAAC application, a resume and a short statement of interest. The application should detail the nominated member’s qualifications, experience and past and current dealings in electronic tax administration. A recent IRS notice published in the Federal Register on April 4, 2012 includes more information.
The Treasury Secretary will select and approve new ETAAC members who serve three-year terms, the next of which begins this fall.
Members are required to pass the IRS tax compliance check and Federal Bureau of Investigation (FBI) background investigation. They also cannot be federally registered lobbyists.
This is a great opportunity for tax preparers who want to effect change while building upon their current professional experience.
Questions about the nomination process can be sent to etaac@irs.gov.
Enhance Your Expertise and Expand Your Service Offerings
Universal Accounting offers a number of training programs that will enhance your practice while increasing your revenue. Consider how the following three courses could benefit your business:
Professional Tax Preparer Program
Many financial professionals make the majority of their income preparing taxes. Practically every adult U.S. citizen must submit a tax return each year, and because many of them are intimated by the complexity of tax law, they continually seek professional help.
The Professional Tax Preparer program will not only train you in the preparation of individual and business returns, a lucrative market, but it will also enable you to hone your skills and comply with the new IRS tax preparer regulations. Not only could you earn a professional designation, but you could also learn everything you need to know to pass the IRS Competency Exam and receive up to 60 CPE credits, depending on the number of modules you complete.
Professional Bookkeeper Program
Many tax professionals can make a living on their tax services alone, but in order to become a full-service financial provider and ensure business year-round, you need to offer accounting services as well.
The Professional Bookkeeper program will instruct you in small-business accounting, an industry that comprises the majority of accounting opportunities. From accounts payable to year end and invoicing to job costing, you’ll learn everything you need to know to setup and maintain a business’s accounts. Not to mention, this course comes complete with a module that will instruct you in building a successful accounting practice, including marketing strategies that will help you secure qualified prospective clients.
QuickBooks Mastery
But why stop there? In mastering QuickBooks software you will continue to grow your practice by offering QuickBooks setup, help and consultation services. Countless small business owners manage their accounting using this software; occasionally they need a QuickBooks Specialist to help them establish their accounts and/or resolve problems they encounter.
The Professional Bookkeeper’s Guide (PBG) to QuickBooks will enable you to pay bills quickly, write checks with one single click, create invoices effortlessly, access reader-friendly reports and much, much more. By learning all the features and shortcuts this software program offers, you will increase your efficiency, making more money in less time.
These three programs will help you build and maintain a thriving financial practice. The time is now right to prepare to launch your startup. Call Universal at 1-877-833-7909 to order now!
Recently the IRS released its annual list of “Dirty Dozen” tax scams in attempts to warn taxpayers of fraudulent activity that could cost them considerably if they are caught unaware.
IRS Commissioner Doug Shulman says, “Taxpayers should be careful and avoid falling into a trap with the Dirty Dozen. Scam artists will tempt people in-person, on-line and by e-mail with misleading promises about lost refunds and free money. Don’t be fooled by these scams.”
You should alert your clients to the 2012 list of Dirty Dozen tax scams which include the following:
- Identity theft. These scams involve thieves looking to use a legitimate taxpayer’s personal information to file a fraudulent return and receive a refund. The IRS has an intense screening process that attempts to filter out fraudulent returns, and in 2011 they were able to prevent $1.4 billion in taxpayer refunds from going to identity thieves. For more information visit www.IRS.gov/identitytheft.
- Phishing. In this scam, individuals receive unsolicited emails or are lured to fake websites in attempts to get them to disclose personal and financial information. The IRS warned, “If you receive an unsolicited email that appears to be from either the IRS or an organization closely linked to the IRS, such as the Electronic Federal Tax Payment System (EFTPS), report it by sending it to phishing@irs.gov.”
- Return preparer fraud. While the majority of tax preparers are honest and submit accurate and legitimate returns, some will overcharge with promises of helping clients secure extreme refunds.
- Hiding income offshore. Some US residents try to evade taxes by hiding income in offshore accounts. In the last few years, the IRS has taken extreme measures to root-out and pursue these individuals who, if discovered, will be required to pay exorbitant fines and face possible criminal persecution.
- “Free Money” from the IRS & Tax Scams Involving Social Security. Many scammers prey on low-income taxpayers with promises of free money in submitting returns that include little or no documentation. They also lure the elderly with promises of nonexistent Social Security refunds or rebates.
- False/Inflated Income and Expenses. Some taxpayers falsely claim more income in efforts to secure the Earned Income Tax Credit or a greater refund. The IRS warns, “This could result in repaying the erroneous refunds, including interests and penalties, and in some cases, even prosecution.”
- False Form 1099 refund claims. In this scam, taxpayers are encouraged to file Form 1099 Original Issue Discount (OID) to make a false refund claim.
- Frivolous arguments. These scams encourage taxpayers to make “unreasonable and outlandish claims” in order to avoid paying their taxes.
- Falsely claiming zero wages. In this scam Form 4852 (Substitute Form W-2) or a “corrected” Form 1099 is used to fraudulently reduce taxable income to zero. In this same scam taxpayers sometimes submit a false statement rebutting wages and taxes.
- Abuse of charitable organizations and deductions. This scam involves the intentional abuse of 501(c)(3) organizations where income and/or assets are improperly shielded from taxation.
- Disguised Corporate Ownership. The IRS explains, “Third parties are improperly used to request employer identification numbers and form corporations that obscure the true ownership of the business.”
- Misuse of Trusts. In this scam, taxpayers are urged to transfer their assets into trusts in order to avoid paying taxes. Taxpayers are urged to consult with a tax professional before transferring money into trusts at the encouragement of someone else.
It’s important that taxpayers be aware of these predominant scams in effort to protect themselves from being taken advantage of. If you’re a tax professional, you should take the time to alert your clients to these Dirty Dozen tax scams.
Increase Your Profitability for less than $5!
Allen Bostrom, President and CEO of Universal Accounting, has written two books that help make businesses more profitable. Designed specifically for small business, In the Black presents 9 practical principles that enable readers to improve their business’s profitability, or the profitability of their clients’ businesses, immediately. Red to Black in 30 Days is a guideline for financial professionals who work with disheartened small business owners in need of a good turnaround plan.
Recently, these two books were made available in Kindle format. Take advantage of this amazing deal! These books, purchased at regular price, would cost you $50. But when you download the Kindle versions—which give you immediate access to this valuable information—they only cost you $5; that’s 10 times less than retail.
If you would like to learn more about these two books, visit their corresponding websites at In the Black and Red to Black. Or order your Kindle copies today!
Also called “working smart,” efficient work strategies can makes any small business more profitable as owners determine how to get more done in less time. And because we are in the middle of tax season, getting more out of your work day could help you and your business become the premier tax practice in your area with a larger clientele and greater revenue.
So what strategies work best for the tax preparer? In a recent article in CPAPracticeAdvisor.com, author Mark Albrecht offers “Five Timesaving Tips for a Smoother Tax Season.” Here are three of five things he suggests we focus on.
1. Communication. Albrecht recommends that every practice have a clear communication process for all those they work with. He says key elements of that communication process should:
- Clearly state when, how and where to submit tax information.
- Give the deadline for tax data, making it clear that failure to meet that deadline results in an automatic extension.
- Provide disclosure and consent forms.
- Use this as an opportunity to manage expectations, emphasizing constraints on your time.
2. Digital Work Environment. Ensuring that you have all the technology you need to run an efficient practice is an important element in developing helpful workflow strategies. Creating a digital work environment can save you a lot of time in the long run. This includes adopting tax software that can make your life easier. Thankfully, tax software has grown up over the last few years. Products have advanced with improved functionality to meet your business needs. Take the time to select the software package that will enable you to best serve your clients.
3. Process Improvement. This might be best tackled after tax season is over. Albrecht explains, “In an ideal scenario, you would have time to create a committee, document current processes, identify best practices, optimize for technologies used, map your new workflow, standardize and train across the firm, and automate workflow for a digital environment.” Chances are you will only be able to run through some of these tasks. However, the most important thing is that you take the time to assess your workflow strategies and make plans for improvement.
Universal Accounting Center’s Solution to Higher Efficiency
The wise financial professional looks for ways to add complementary services to their menu in order to get those higher-yielding clients to do even more business with them. In doing so, you increase your earning-potential and your appeal to prospective and current clients.
By adding small-business accounting services to your menu you are able to increase your billable hours, which in turn, increases your bottom line. UAC’s Professional Bookkeeper Program will teach you everything you need to know to manage a small business’s books, including how to market those services to prospective clients.
To learn more, order our video Introduction to the Professional Bookkeeper Program. This video will introduce you to the four module included in this course, demonstrating just how valuable it can be to you and your business. Survive the recession by adding accounting services to your offerings. What do you have to lose? Watch it online now for free.
Resource
Albrecht, Mark. “Five Timesaving Tips for a Smoother Tax Season.” January 2012 CPAPracticeAdvisor.com
Price is what you pay; value is what you get. – Warren Buffett
In an article we ran at the end of last year, we announced that a survey discovered that accountants were raising their prices. At the start of a New Year, you may want to follow suit but are uncertain how to do so. In a recent Entrepreneur.com article entitled “Five Painless Ways to Raise Prices This Year,” author Carol Tice offers her advice. We share three of her five tips here:
1. Phase it in. Change can be difficult for anyone to accept, even for (and maybe especially for) your clients. That’s why it can help to phase in your price increases. Tice recommends warning your clients about the price hike at least 6 weeks in advice, giving them adequate time to get used to the idea.
2. Revamp or repackage old products or services. Look for creative ways to bundle or pair service offerings. Tice explains, “Freshen it up, and you’ve added value—or at least created the appearance of added value—and can command a better price for it.”
3. Introduce new products and/or services. When you add complementary services to your offerings, you immediately increase your value to current and prospective clients. And as a tax preparer, adding accounting and QuickBooks services to your menu will not only increase your revenue but also your clientele, enabling you to enjoy a thriving financial practice year-round and not just during tax season.
While the idea of raising your prices can be daunting, you will run your small business into the ground if your pricing doesn’t reflect inflation and the changing economy. You want your prices to be competitive, but if you set them too low, prospective clients may assume your services as just as cheap as your billable rate. Trust that your offerings are valuable and price them accordingly, using the tips suggested here.
Universal Accounting (UA) Can Help You Earn Make More Money!
Universal can help you increase your service offerings in just a matter of weeks! If you were wondering how, exactly, we might benefit you and your business, visit our website and take a tour. You’ll learn more about our programs, our products, and other services we offer. Don’t wait to find out how UAC could change your professional future. Visit our corporate website or take a virtual tour today!
Resource
Tice, Carol. “Five Painless Ways to Raise Prices This Year.” 19 January 2010 Entrepreneur.com
In a recent newsletter intended for small businesses, the IRS shared key points informing taxpayers of specific credits and news releases that apply to the self-employed. Consider whether or not any of the following might impact you and/or any of your small-business clients:
Work Opportunity Credit
The work opportunity credit has been expanded in order to encourage employers to hire certain unemployed veterans. On November 21, 2011, President Obama signed the VOW to Hire Heroes Act of 2011, providing businesses and tax-exempt organizations with an expanded work opportunity tax credit when they hire unemployed veterans (after 11/21/2011 and before 1/1/2013). For more information, visit www.IRS.gov/form8850.
Federal Unemployment Tax Credit Reduction
Employers in the 21 credit-reduction states are required to adjust the FUTA tax on their 2011 Form 940. The adjustment must comply with the table indicating the reduction rates as dictated by the Department of Labor and found on Schedule A (Form 940–which must be attached to Form 940). For more information, refer to Instructions for Form 940 on the IRS website. According to the press release, “if employers pay wages that are subject to the unemployment tax laws of a credit reduction state, the employers must pay additional FUTA tax. Employers must include liabilities owed for credit reduction in calculating their fourth quarter deposit.”
The SSA/IRS Winter 2011 Report
The SSA/IRS Reporter is a quarterly online publication for employers and other organizations that deal with payroll and employee issues. New editions are posted in March, June, September and December. To access the December issue, visit the IRS website.
Offer in Compromise
The IRS has recently redesigned their website providing OIC guidance. An offer in compromise allows individuals and businesses to settle a tax debt for less than the amount owed. This site enables visitors to determine whether or not they are eligible and how to submit their OIC. The newly designed website and an instructional video are now available.
Revisions to FBAR and Form 8300 Explained
Businesses that have already filed certain Bank Secrecy Act paper forms but need to correct an error can follow a simpler process, as outlined by the IRS.
To correct the error, file Form 8300, Report of Cash Payments Over $10,000 Received in a Trade or Business, or TD F 90-22.1, Report of Foreign Bank and Financial Accounts. The IRS gives detailed instructions on their website.
Secure More Clients with the Universal Practice Builder Program
It can be difficult to keep up with changing tax laws and procedures while also marketing your business. If you’re looking for help promoting your practice more effectively in order to increase revenue, consider the Universal Practice Builder (UPB) Program. Also called Marketing on Steroids, this course was designed by our own growth specialists who know not only how to market your specialized financial services, but how to market them effectively to qualified, prospective clients.
The UPB program provides the following:
Flexibility. You complete the course on your own time and at your own pace. And the engaging DVDs enable you to review key concepts and instruction as necessary.
Complete education. This comprehensive training program will give you everything you need to build a thriving practice.
A qualified professional to answer questions. For six months you will have access to our professional coaches for personal, professional guidance via phone or email.
The Universal Practice Builder Program will equip you with all the tools you need to grow your business. If you struggle to market your practice, call Universal at 1-877-833-7909 to register for this phenomenal program now!!
We agree with the old adage, money can’t buy happiness. However, we’re inclined to believe that wealth does afford you some incredible opportunities that you may not have access to otherwise, and, in determining how to spend your money, you may find that some choices are much more rewarding than others.
In a recent Entrepreneur.com article entitled “Money, Happiness and the Secret to a Rich Life,” author J.D. Roth opens with the premise that rich people are far happier than poor people. However, in breaking down the elements that contribute to an individual’s happiness (including biology, personal choice and age, race and gender), finances have a marginal impact. While he agrees that money can’t buy happiness, he does contend that “some financial habits bring greater satisfaction than others.” Referencing an article published in the 2005 issue of the Review of General Psychology written by Lyubomirsky, Sheldon and Schkade, Roth shares 5 such habits, of which we note below:
1. Purchase more experiences, fewer things. When referring to material positions, you may have said, at one time or another, ‘You can’t take it with you.” And as Roth argues, all our material positions depreciate. However, memories are indestructible and generally grow fonder with time.
2. Use your money for the greater good. When we donate money to charity or give it to a good cause, positive feelings are generated that don’t quickly fade.
3. Buy more small pleasures instead of fewer big ones. To quote Lyubomirsky, Sheldon and Schkade, people find greater happiness in “frequent does of lovely things rather than infrequent doses of lovelier things.”
When determining how to spend one’s earnings, it’s important to realize that you don’t have to grace the cover of Forbes Magazine in order to practice these three habits. Take the time to examine your spending to see if there may be a way that you could enjoy greater happiness without a huge payout.
We encourage you to post spending habits that help you achieve greater satisfaction and happiness.
Secure More Clients with the Universal Practice Builder Program
If you’re looking for training to help you market your practice effectively and generate more income, the Universal Practice Builder (UPB) Program is the course for you. Also called Marketing on Steroids, this course was designed by our own growth specialists who know not only how to market your specialized financial services, but how to market them effectively to qualified, prospective clients.
The UPB program provides the following:
Flexibility. You complete the course on your own time and at your own pace. And the engaging DVDs enable you to review key concepts and instruction as necessary.
Complete education. This comprehensive training program will give you everything you need to build a thriving practice.
A qualified professional to answer questions. For six months you will have access to our professional coaches for personal, professional guidance via phone or email.
The Universal Practice Builder Program will equip you with all the tools you need to grow your business. If you find yourself lacking the intuitive salesperson personality, call Universal at 1-877-833-7909 to register for this phenomenal program now!!
Resource
Roth, J.D. “Money, Happiness and the Secret to a Rich Life.” July 2011 Entrepreneur.com
If you prepare taxes on the side, tax season is a profitable time for you. And depending on your goals, your little tax business could become even more profitable if you took some of the following steps to increase your clientele and your bottom line.
1. Consider Full-Time Self Employment
Don’t quit your day job just yet. However, we would encourage you to consider whether or not you’re genuinely interested in launching your own full-time tax practice. If so, it’s important for you and your family to know that this transition won’t put you out on the street. And while it will require sacrifice, take the time necessary to ensure that you have work enough to sustain you when your business goes from being a part-time endeavor to a full-time one.
Consider how long it might take you to grow your business to the point where you’d feel comfortable quitting your job. 3 months? 6 months? One year? And don’t work blindly towards that deadline. Determine “readiness indicators,” or symptoms that your business is healthy enough to go full-time. Will you need at least 10 year-round clients? 15? 20? Look at your current client base and calculate how much money each brings in. How many more would you need in order to compensate for your current full-time income? And don’t rush yourself. Give yourself the necessary time to prepare for this most important career shift.
2. Add Tax Planning Services.
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. Tax planning is an important step in reducing taxes. Throughout the year, tax professionals can discuss with clients various tax strategies that could potentially save them thousands of dollars. This also enables them to make any needed adjustments before the end of the year to effectively lower their tax liability. Universal’s Professional Tax Preparer Program will help you accomplish this.
3. Offer more services.
Last week we discussed the importance of expanding your offerings. This is sound advice because the more services you offer, the more valuable you become to current clients and potentials clients. Consider adding accounting services to your menu in order to increase your value and become that one-stop financial shop. You’ll find that people may need an accountant more than they need a tax professional, and visa versa. Only when you’re prepared to do both are you able to secure both types of clients. And for the clients who need both accounting and tax services, you’re able to increase your billable hours, and thus increase your income.
4. Fine-Tune Your Marketing Approach.
It’s difficult to grow a business no one really knows about. With just a handful of proven and effective marketing techniques, you could increase your clientele significantly. Universal Practice Builder Program, otherwise known as Marketing on Steroids, will teach you how increase your billable hours and earn the monies you deserve by leveraging your time with techniques proven to get clients. Your practice can become the premier service in your area for tax planning and preparation. Your ability to market your business and network with key community players will promote your business to those who need and appreciate it most.
If you get started now, you may find 2012 better than you could have ever imagined! But first, call Universal Accounting at 1-877-833-7909 begin_of_the_skype_highlighting 1-877-833-7909 end_of_the_skype_highlighting to see which of our programs could help you best prepare for a more profitable future!
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:
“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:
“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 PackageBy 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.
On April 6th the IRS announced that it is accepting nominations for the Electronic Tax Administration Advisory Committee (ETAAC). The deadline for submitting applications is May 24.
