640 search results for "by ed mendlowitz"

letting staff go after tax season? bad idea

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eight reasons they might be more valuable than you think.

by ed mendlowitz
tax season opportunity guide

question: i am planning on letting go of some staff after april 15 and will hire replacements at a higher level. any suggestions?

more on tax season: ten tax prep questions that people forget to ask | try this clean slate exercise | offer your tax clients other services | 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?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

response: 1) your implication is that you will hire replacements at a higher level.

i do not like that. i like hiring out of school and training internally. i’ve written about this many times and shared my ideas ad infinitum and will not repeat that here because you can search back to previous q&as (or read my 30:30 training method book).
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want to merge? six steps to take

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man writing in notebook

bonus: key considerations in evaluating a practice continuation agreement.

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

question: what i should do about merging? i need a specific answer.

more: how to raise your rates | courting a client? don’t give too much away for free | nine tips for a healthier tax season | fifteen strategies for first-time supervisors | measure knowledge gaps (then close them) | should you offer financial services? | ready to retire? selling your practice is no strategy | 20 things you need for a business valuation
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

response: i can’t give you an easy answer. i can give you a process to follow that should provide an answer. actually, this works pretty well and i’ve gotten good feedback from many colleagues. i’ve also rethought it many times, and still think this is the way to go about it.

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how to raise your rates

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clients who complain aren’t walking away, just haggling.

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

question: i haven’t raised my fees in three years. how do i suddenly go about it now and how much should i raise them?

more: courting a client? don’t give too much away for free | how to start providing family office services | every accounting firm needs quality control | no one listens to you? change how you talk | 47 types of business valuation to provide | thirteen things to consider before you sell your practice | uncooperative partner might not be the problem
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

also, i have many business clients where the individual returns are done as part of the yearly service with extra billing. how can i start charging for this?
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why exceptional service matters

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server holding carafe of water points at menu item; two women seated at restaurant table

and why it has to come from everyone.

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

this time, i have a question for you. but i’ll start with a story.

last sunday evening my wife and i went into a reasonably upscale restaurant and we had terrible service from everyone we interacted with.

more: courting a client? don’t give too much away for free | how to start providing family office services | every accounting firm needs quality control | no one listens to you? change how you talk | 47 types of business valuation to provide | thirteen things to consider before you sell your practice | uncooperative partner might not be the problem
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

when we were seated, the table wobbled and we asked if they could do something or move us to another table. ten minutes later someone showed up with a wad of napkins that made it worse. five minutes later they asked if we were okay, and put us at another table. ten minutes after that they took our order, but we asked for some drinks right away, which we only got after we complained to the manager.
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ten tax prep questions that people forget to ask

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drawing of unhappy face and arrow pointing from it to happy face

your clients will appreciate the attention to detail.

by ed mendlowitz
tax season opportunity guide

many professionals fail to systematically ask clients some basic and important questions. here’s my top 10 list of key questions to ask this year. what would you add?

more on tax season: try this clean slate exercise | offer your tax clients other services | 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?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

1. foreign bank accounts: make certain you ask every client if they have a foreign account and if they do, report the income and file the proper forms. the penalties are too great if it is wrong.

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courting a client? don’t give too much away for free

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businesswoman shakes client's hand across desk, both seated

what to say instead.

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

question: i usually give away too much info at a meeting to get a new client.

more: how to start providing family office services | higher fees to start: ten ways to make your tax season better | three ways to start an accounting practice | free consultation? not always | referral fee? forget it | how much is your tax practice worth? | merge in lower-priced work without losing out
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

we simply answer too many of their questions during the initial meeting. we don’t know how much info to give away so the possible new client will get hooked and not take the information and run to somebody else.
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try this clean slate exercise

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clean slate with three pieces of colored chalk

spend a few minutes today to check your course.

by ed mendlowitz
tax season opportunity guide

we all get caught up with what we do. sometimes so much that we lose sight of what we are doing and the purpose.

more on tax season: offer your tax clients other services | 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?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

also, work happens. many of us start out with lofty plans that go astray as the practice develops. many things cause it – clients we get, availability or lack of availability of the right staff, how we choose to learn or not learn new things, and even where we locate.
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how to start providing family office services

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couple meeting with investment advisor.

including a sample engagement letter.

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

question: some of my clients are getting older and are becoming unable to handle their own financial affairs and i have been asked if i could assist them. what is involved and how do i charge for it?

more: higher fees to start: ten ways to make your tax season better | nine tips for a healthier tax season | fifteen strategies for first-time supervisors | measure knowledge gaps (then close them) | should you offer financial services? | ready to retire? selling your practice is no strategy | 20 things you need for a business valuation
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

response: many large firms provide “family office” services. this is a complete one-stop financial service that helps clients manage their money, pay their bills, collect their dividends and interest, and make sure insurance isn’t cancelled, mortgage, car lease or condo fee payments aren’t skipped, and tax payments paid on time.

following is a sample engagement letter that i use with clients needing such services. also, this letter provides a detailed description of what the service involves.
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