Maximizing CPA Firm Revenue with Our Proven Team Based Model Process Implementing Proactive Planning with Virtual Family Office Services For Improved Client Outcomes.
It's tax time...AGAIN. 2023 corporate returns are due this Monday the 16th of this month. Personal returns are due October 16th. Then it's on to Q4 & 2024. Large companies like Amazon, Apple and others don't pay any taxes. These companies have a team of specialists that scour the tax code and leverage what is available to all tax payers to legally reduce or eliminate their tax liabilities. There isn't an accountant or CPA that knows all 75,000+ pages of the tax code. Most accountants and CPAs serve too many clients just to make a living relying on audit, tax filing & compliance work. This does not allow time for comprehensive financial and tax planning. Most CPAs don't have a process that facilitates this team approach to serving clients comprehensively. This makes it almost impossible to collaborate with other experienced specialists who also work in their own silos doing what they do best. Many tax payers complain in silence, some vocally about how much they pay, couldn't they pay less and keep more and think "should their CPA being doing more?". Accountants and CPAs want to deliver great service and outcomes that exceed client expectations. Many do not leverage their time and resources effectively, have a process that works consistently or the team to rely on for fear of damaging or losing a good client. Too many clients create service bottlenecks and lost planning opportunities that would be in both the CPA and clients best interest and improve client and advisor relations. If the goal is to keep as much income as possible and reduce tax liability as much as possible, why don't clients and CPAs place a greater priority on the time needed to achieve this? Why is it often an after thought? Are the CPAs processes effective to meet the expectations of clients ? This doesn't make sense. Why not reduce the tax drag on net operating income or reportable adjusted gross income by 20-50% vs making Uncle Sam the charity & beneficiary of choice? CPAs using leverage and proactive planning processes achieve better outcomes for clients consistently year after year. Accountants would do good to implement processes and incorporate proactive tax and financial planning with every client that qualifies. Using leverage to do more with less time with a team of specialist working for them would help. Results in better outcomes through value added services beyond basic audit, tax filing and compliance work would be immediate. Clients would benefit more. Firm revenue increase annually with fewer clients. Every dollar saved in taxes can be repositioned in the family business or personal needs for continued wealth accumulation in conservative tax favorable ideas. Clients & CPAs both do better. Clients want, expect, deserve and will pay for proactive planning and comprehensive value added services through one resource that simplify and improve their lives. Share your comments here. Reach out through DM if preferred.