{"id":93356,"date":"2022-01-25t01:03:13","date_gmt":"2022-01-25t06:03:13","guid":{"rendered":"\/\/www.g005e.com\/?p=93356"},"modified":"2024-08-14t09:30:14","modified_gmt":"2024-08-14t13:30:14","slug":"beyond-tax-prep-the-big-cha-ching","status":"publish","type":"post","link":"\/\/www.g005e.com\/2022\/01\/25\/beyond-tax-prep-the-big-cha-ching\/","title":{"rendered":"beyond tax prep: the big cha-ching!"},"content":{"rendered":"
five reasons business clients are ready for tax advisory services.<\/strong><\/p>\n <\/p>\n by 卡塔尔世界杯常规比赛时间<\/em><\/p>\n question: if half your tax clients were buying planning or advisory services for five times what they\u2019re paying for tax prep, what would that add up to?<\/p>\n answer: a big cha-ching!<\/p>\n more on tax season:<\/strong> crisis at the irs<\/a> | the irs\u2019s 10 biggest problems. here are just the first five.<\/a> |\u00a0fear and loathing for tax season \u201922<\/a>\u00a0|\u00a0\u00a0padar joins vc-backed tax fintech for banks<\/a>\u00a0|\u00a0\u00a0covid chokes an already crippled irs<\/a>\u00a0|\u00a0tax regs for the metaverse<\/a>\u00a0|\u00a010 steps to a superior tax department<\/a>\u00a0|\u00a0accountants critical of competitor price-cutting<\/a>\u00a0|\u00a0\u00a0automate busy season with apps you already use<\/a>\u00a0|\u00a0sales & use tax costs are higher than anyone thought<\/a>\u00a0|\u00a0survey: nobody loves the wayfair decision<\/a>\u00a0|\u00a0busy season forecast: more chaos<\/a>\u00a0\u00a0|\u00a0a woman named wanda leaves an ira nightmare<\/a>\u00a0\u00a0|\u00a0are you under-pricing your client accounting services?<\/a>\u00a0\u00a0|\u00a0your best advice: get smart, get tech, get moving<\/a>\u00a0|\u00a0worries for small business clients<\/a>\u00a0|<\/p>\n pro members:\u00a0<\/strong>log in here<\/a>\u00a0or\u00a02022世界杯足球排名 today<\/a>.<\/p><\/blockquote>\n this may be the season for tax filing, but accountants failing to leverage prep into planning and advisory are missing out on a lot of potential revenue.<\/p>\n the average annual fee for tax planning and advisory services is $2,351\u2014five times the average annual tax prep fee of $459, according to a new study.<\/p>\n ironically, one out of six firms that offer these services is not<\/em> getting paid for it. of the 74 percent that offer tax planning, only 62 percent are billing clients for the help, according to new intuit research.<\/p>\n for good reason, 35 percent of firms that do not offer tax planning or advisory services are strongly considering adding them as part of their growth plan.<\/p>\n among firms that offer these services, they do so for 35 percent of their existing clients. the top 27 percent of advisory firms deliver these services to more than half their clients.<\/p>\n planning vs. advising: the diff<\/strong><\/p>\n tax planning<\/em> is defined as tax projections of future liabilities, incorporating assumptions, ensuring compliance, and mitigating surprises in the upcoming year. this is typically a once-a-year service.<\/p>\n tax advisory<\/em> is more ongoing throughout the year. it includes proactive, personalized strategies to minimize taxes and, crucially, measuring the savings that the advisor has made possible over short and long terms.<\/p>\n where the money is<\/strong><\/p>\n current tax advisors say business owners are ideal candidates for advisory services for several reasons:<\/p>\n high-net-worth families and others with complex financial situations can also make good use of good advice and good planning. too often they presume their tax preparer is doing everything possible to optimize their tax situation. with a little education about potential savings, they can be persuaded to invest in a planning and advisory program.<\/p>\n tax planners need an average of about 2.3 hours to prepare a \u201ctypical\u201d plan. the survey reveals that 63 percent of advisory firms are still using an hourly billing model. but the 28 percent who use value billing are justifying it with more communication about tax savings, which strengthens account-client relationships.<\/p>\n time well $pent<\/strong><\/p>\n planning and advisory services work best with recurring appointments dedicated to<\/p>\n planning and advisory meetings average out at about 50 minutes. the number of meetings per year varies considerably.<\/p>\n \u201ctax planning and advisory services are an important extension of tax compliance services,\u201d the survey says. \u201cthe avalanche of new tax legislation over the past five years and the impact of covid-19 on firms and clients heighten the importance of proactive tax planning and advisory services.\u201d<\/p>\n <\/p>\n","protected":false},"excerpt":{"rendered":"\n
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