offer your tax clients other services

here are 40 they should know about, plus a checklist for considering additional client services.

by ed mendlowitz
tax season opportunity guide

the following listing can give you ideas of additional services clients might need.

more on tax season: can your tax reviewers answer these 10 questions? | the top 12 mistakes in tax return preparation | six types of person: which are you? | answer these two questions first | help your tax clients, help yourself | what’s your value to your tax clients? | are you excited about tax season?
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this list is not complete, but it is a good start for you to start thinking about what types of additional services you can offer to your clients!

1. estate planning
2. inheritance advice and guidance
3. succession planning
4. personal financial planning

5. investment allocation construction
6. investment management
7. investment clubs
8. elder care assurance services
9. business performance measurement services
10. quickbooks® training and consulting
11. outsourced business and back office services
12. outsourced cfo services
13. outsourced corporate tax preparation – income taxes, executive tax preparation, sales taxes, state registrations
14. second opinions
15. business valuations
16. retirement planning and counseling
17. pension planning
18. ira distribution analysis
19. irs tax audit protection service
20. conflict resolution
21. single couples living together planning
22. second marriage assistance
23. prenuptial agreement analysis
24. divorce settlement planning
25. conflict resolution
26. buying and selling a business assistance
27. starting a business
28. buying a franchise
29. entering a partnership
30. getting stock in a corporation
31. receiving stock options
32. projecting financial aspects of proposed actions
33. basis calculations for pass-through activities
34. employment contract negotiations
35. executive compensation review
36. downsize settlement structuring
37. corporate management and financial planning training
38. industry-specific tax and business advisory services
39. structuring partnership and buy-sell agreements
40. recession consulting

 

checklist for considering additional client services

client ________________________ date _____

prepared by _____________________________

the following items that the client might need were identified at our meeting.

1. ___ review adequacy of life insurance based on our discussion of family’s financial needs.
2. ___ client indicated they do not have a will. we can consult on what should be in the will.
3. ___ if client has a concern about their estate plan, we can advise them based on their desires.
4. ___ client said they do not have a buy-sell agreement with their business partners. we can consult on the terms that should be in the agreement and ways to value the business.
5. ___ client expressed goals of when they want to retire. we can help them develop a financial plan leading them toward achieving these goals.
6. ___ client indicated a concern about cash flow in retirement. we can review their present assets and accumulation plans to illustrate if they can achieve the targeted cash flow.
7. ___ client needs a separate tax planning consultation.
8. ___ client is subject to alternative minimum tax. client should schedule a pre-year-end meeting.
9. ___ client should have a pre-year-end tax planning meeting and projection.

10. ___ client indicated that they might have a big change in their income this year. client should call us when it appears it will occur – before the event takes place.
11. ___ client’s estimated tax payments do not protect them from penalty. client needs to inform us before each payment is due so we could calculate protective estimated payments. note: due dates are june 15, september 15 and january 15 of current year.
12. ___ client is going through a marital separation. client should schedule an appointment to discuss the financial and tax aspects of the separation, and possible divorce, and valuation of businesses, if any.
13. ___ client should consider a retirement plan for their business and should call for a consultation.
14. ___ client has a household employee and needs further information.
15. ___ client makes large charitable contributions and needs a consultation on tax-advantaged ways to make them.
16. ___ other

1. __________________________________
2. __________________________________
3. __________________________________

we assume no responsibility to perform these services. consultations are available for additional fees. please call our office to schedule a meeting.

posted on february 21, 2024