higher fees to start: ten ways to make your tax season better

does your firm look “closed for business”?

by ed mendlowitz
202 questions and answers: managing an accounting practice

1. increase your fees 3-5 percent at a minimum – to offset your increased costs.

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2. deliver your bill with the return.
3. call clients before return is sent to explain and give a heads up for unexpected results.

4. if you need additional information from your client, follow up frequently and then follow up, follow up and follow up.
5. bill for form 8938 preparation as a separate item on bill. do not lump it in with the tax preparation fee.
6. don’t close your practice for tax season. continue marketing, training, and don’t delay or push off special services clients might need.
7. work on your own return – file on time.
8. clear all diagnostics from your software.
9. verify the payment of all estimated taxes.
10. for clients with multiple rental properties, prepare multiple-year graphs showing the aggregate revenues, real estate taxes, net income and possibly another selected expense.

so what if i said 10? here’s an 11th: ask for referrals. always ask for referrals! it should be ingrained in you.

what would you add to this list?

posted on february 19, 2024