Category: Practice Management

The Tax Pro’s Guide to Pricing Like a Pro: Straight from the Coach’s Mouth

Let’s huddle up! It’s time we had a serious talk about pricing your services. I often get comments from tax pros that one of their biggest downfalls is not charging enough for their services. I get it. I was there once as well. When I first opened my firm, I was charging low fees. Then I started working with a coach, another licensed tax pro who has been there, and he helped me see that I could do more and be more than I thought I was. With that, I put this together to help you achieve more by charging more.
You’ve put in the hard work to become licensed professionals, mastering the complexities of tax law and IRS procedures. You have spent countless hours rubbing elbows and schmoozing at events and NOW it’s time to make sure you’re getting paid what you’re worth. Let’s break down how to price your services for all of the various services you provide and while we are at it, I want to pump up your confidence to charge what you deserve.
Boosting Your Self-Esteem
Now, I know some of you might be thinking, “Coach, those rates seem high. I’m not sure I can charge that much.” Listen up, because this is important: You are a professional with specialized knowledge and skills. You have the power to significantly impact your clients’ financial lives. It’s time to start seeing yourself the way your clients see you – as an expert they can trust. Oh, and if you are a book author, have a YouTube channel, become a speaker, and/or have a podcast, this can elevate your authority (and along with it your value). Please don’t sell yourself short.
Here are some tips to boost your confidence:
  1. Celebrate your wins. Every successful resolution, every audit navigated, every tax return that saves your client money – these are victories. Acknowledge them and let them fuel your confidence.
  2. Continuously educate yourself. The more you know, the more confident you’ll feel in your abilities. Stay up-to-date on tax law changes, tips and tricks and best practices.
  3. Network with other professionals. Surrounding yourself with successful peers can help you see what’s possible and give you the courage to raise your own standards.
  4. Focus on the value you provide. Don’t think about the hourly rate – think about the peace of mind, financial savings, and expert guidance you’re offering your clients. (i.e. the benefits of what
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Shock and Awe – Unleash the POWER!

Unleash the Power of the Shock and Awe Box: A Game-Changer for Licensed Tax Professionals

Imagine standing on the battlefield of business, surrounded by competitors, each vying for the attention of the same prospects. How do you rise above the noise and capture the hearts and minds of your potential clients? The answer lies in a powerful weapon known as the Shock and Awe Box. This mighty tool can transform your marketing strategy, leaving your prospects in awe and amazement and eager to join your ranks. Let’s delve into what a Shock and Awe Box is, what it includes, and how it can revolutionize your practice.

What is a Shock and Awe Box?

A Shock and Awe Box is a meticulously crafted package designed to impress and engage your prospects (and even your clients). It’s not just a collection of promotional materials; it’s a strategic masterpiece that showcases your expertise, builds trust, and sets you apart from the competition. The goal is to create an unforgettable first impression that leaves your prospects thinking, “Wow, this is definitely the tax professional I need!”

The Purpose of a Shock and Awe Box

The primary purpose of a Shock and Awe Box is to capture attention and build a strong connection with your prospects. Here’s how it achieves that:

  1. Creates a Memorable First Impression: The unique and thoughtful nature of the package makes a lasting impression. It shows that you go above and beyond, which is exactly what clients want in a tax professional.
  2. Builds Trust and Credibility: By providing valuable educational materials and showcasing client testimonials, you position yourself as a knowledgeable and trustworthy expert.
  3. Engages and Delights: The fun and unexpected items in the box make the experience enjoyable. When prospects enjoy the process of learning about your services, they’re more likely to remember you and feel positively about you.
  4. Encourages Immediate Action: Special offers and clear calls to action motivate prospects to take the next step, whether it’s scheduling a consultation or signing up for your services.
  5. Differentiates You from Competitors: Most of your competitors are likely using traditional marketing methods. A Shock and Awe Box sets you apart by demonstrating creativity, attention to detail, and a commitment to client satisfaction.

What Goes Into a Shock and Awe Box?

The contents of a Shock and Awe Box can vary, but the key is to include items that are valuable, … Continue reading

“Got a Minute?” and the case for not answering your phone

As a licensed tax professional, you’ve probably experienced the dreaded “Got a minute?” phone call. You know the one: it starts innocently enough, but before you know it, you’re knee-deep in a complex tax issue that requires hours of research. If you’re still answering your own phone, it’s time to reconsider. Here’s why you should let someone else handle those calls and why giving out your personal cell number is a big no-no.

The “Got a Minute?” Call: A Time Thief in Disguise

The “Got a minute?” call is a classic time thief. It’s never just a minute. Clients often underestimate the complexity of their questions and the time it takes to provide a thorough answer. By the time you’ve hung up, you’ve lost valuable time that could have been spent on billable work. As Forbes points out, tax professionals are already overwhelmed with the sheer volume of calls and emails during tax season. Time blocking and call scheduling are essential strategies to manage this workload effectively.

Why Your Personal Cell Number Should Stay Personal

  1. Boundary Issues: When you give out your personal cell number, you blur the lines between your work and personal life. Clients may feel entitled to call you at all hours, disrupting your personal time. As one Reddit user humorously noted, “My doctor is only open like Mon-Thurs from 9-3pm, so I don’t see why people feel the need to access their CPA 24/7”. Setting boundaries is crucial for maintaining a work-life balance. When I first started my practice, I made the mistake of giving my cell phone out to my clients. It was even printed on my business card. Most clients are good in not bothering you, but there were a few that called at 7am or 9pm. Oh, if that happens, just don’t answer it. You can respond the next business day.
  2. Professionalism: Using a personal number for business can come across as unprofessional. Clients may perceive you as less established or less serious about your practice. A separate business number allows you to present a more polished image. Having a dedicated business line (just like an email with a domain name not Gmail.com) shows that you are more of a professional.
  3. Privacy Concerns: Sharing your personal number can lead to privacy issues. You might receive texts and calls from clients at inconvenient times, and your personal number could end up in
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