Comprehensive Bookkeeper Marketing Course Now Available

My friend James Orr loves all things marketing. It’s what he’s been doing his entire career. He even dropped out of Tulane University to focus on his marketing business, that’s how passionate he is about marketing.

Last year, he created a marketing course geared specifically towards bookkeepers that he never actually put out there for sale. It’s a comprehensive course covering every aspect of lead generation and prospect nurturing. The material applies equally well to accounting and tax professionals, not just bookkeepers.

James is working with me to create an updated version of this course tailored specifically to tax professionals that will retail for close to $1,000, but with retreat season upon us, I wanted to make sure we had something like this available right away. So, I convinced James to not only let me offer this course to everybody, but also to knock a couple hundred bucks off his original asking price.

“The World’s Greatest Bookkeeper Marketing Course” is available now in our web store. For full details about this what this program can do for your business, visit the course information page here.… Continue reading

Why Are There Only X Number of Liens For My Criteria Available?

On the old tax lien database system, we got a lot of questions pertaining to why only so many liens were available for a given set of selection criteria. This is a very good question, and I will attempt to answer it here.

First and foremost, one must understand that liens are a finite resource. In other words, there are only a limited number of them. In 2010, the IRS filed 1.1 million Notices of Federal Tax Lien (NFTL). The vast majority of these liens were against individuals owing less than $10,000.

In Fiscal Year 2012, the IRS only filed 707,000 tax liens. That’s for the entire United States.

In 2013, the IRS only filed 602,005 tax liens.

So, the number of lien filings is going down. As of March 2012, the IRS changed the threshold for filing a lien, raising it from $5,000 to $10,000. Anybody with a lien filing less than that amount is a repeat offender, and is pyramiding their tax debt liability.

Let’s go back to that 707,000 liens filed in 2012. Keep in mind that, under most circumstances, we don’t collect lien data on liens less than $5,000. Therefore, those smaller liens won’t even be in our system, and those liens (for repeat offenders that are growing their tax debt) are usually only a couple thousand dollars.

Last year (2012), we collected data on about 250,000 federal tax liens. Since these liens are mostly $5k and above, this represents new tax debtors.

Think about a business that owes 941 taxes, and has for years. They could owe a total of $80,000, and are growing that by several thousand dollars each quarter. 941 debtors represent about 40% of all new debtor lien filings, but these same folks also have an additional 1 to 4 liens filed against them per year. When you have one existing debtor with up to 4 new liens filed per year, that’s a significant portion of the “missing” liens we’re not collecting.

Also consider your search criteria. If you are only searching for liens above $25,000, for example, then you’re simply searching above the range at which most tax liens are filed. In other words, there are simply fewer tax debtors that owe more than $25,000, in comparison to those that owe less than this amount. The percentage distribution in our system is skewed high because we cut off at the $5,000 mark, but even at … Continue reading

Case Study: How One Small Tax Firm Built Their Sales & Marketing Machine

This is the story of a small CPA firm (three partners) in New York City that hired me in January 2011 to help them grow their tax resolution business. I worked with them to create a written, systematic, and scheduled marketing process to drive sales of this service, which then fed sales of their other service offerings.

The firm employs no sales closers, and they rely exclusively on old tax lien filings (3 to 6 months old) as sales leads. They use old leads because, after a couple months, the vast majority of tax resolution firms have quit calling them, and they are therefore able to pick up clients with very little simultaneous telemarketing competition.

The firm’s telemarketers (“openers”) call these tax liens to verify that they’ve got the correct business, confirm that the tax lien is still an issue, and collect an email address and/or fax number and obtain permission to send “free information regarding how to get the IRS off their back” — there is absolutely no “selling” involved in a traditional sense. They then immediately receive a two-page introduction letter via fax and/or email, and they also receive a 12-page info packet (a 9 page sales letter, 2 page engagement letter, and a payment form) in the mail that comes in a specialized red “Rush Priority Express” envelope.

Every 5 days for 60 days, without fail, completely on automation, the prospect gets an email and/or fax with a short blurb (about two paragraphs) about a tax topic, and an offer — free consultation with a CPA (NOT a salesman), a free review of their latest IRS notice, X percent off representation, free end of year 940 prep, two 941’s prepared during the course of representation, etc. These “touches” are a highly effective follow up program from the very beginning, and their phone rings off the hook.

The key to this tactic was the creation of the series of emails (duplicated as faxes) that go out over the course of a couple months, every 5 days. Prospects are bombarded with the risks of being in collections, the problem with going at it themselves, and what the firm can do to fix the situation. This follow up program puts the CPA on the “right side of the desk”, as prospects then call in for help, rather than the CPA having to be the aggressor and chase the prospect down.

The licensed partners close all … Continue reading