survey results: tax season 2008 ‘value-add’ strategies

it all begins with personal attention…

join the tax season 2008 study group.
benchmark your practice. get the best ideas. see the trends… all season long.
take the survey; get the results.

it all begins with personal attention… more tables and verbatim comments…
join the tax season 2008 study group. benchmark your practice. get the best ideas. see the trends… all season long. take the survey; get the results.

how do you “add value” to delight your clients and distinguish your practice during busy season?
(sample comments)
• personal phone calls to every client to discuss their questions and the tax return.
• discuss tax planning – schedule a later appointment.
• use the tax return as a vehicle for finding areas where we can assist
• pre-planning of tax and full personal cash flow—determining disposable income with current and future returns on investments
• try to minimize current year tax through tax planning and looking at individual as well as business.
• personal interviews. prove that you care. point out tax options and strategies. prompt service. remind them what you are doing for them.
• inquiry about upcoming year for estimates (2008 income/expenses)
• we offer a number of “niceties” to clients–a gift certificate for dinner at a restaurant client for “early birds”; a promo product in their organizer package; etc. but the biggest thing they comment on is that we actually ask them questions about their businesses and not just about tax stuff. plus, we tell them ahead of time (in their organizer package) what their return will cost this year if everything stays the same.
• client review meetings
• thru contact, tax projections, just letting them know we are available to help
• on site visits and deliveries.
• i offer ideas on additional deductions, how to avoid amt, how to structure income.
• client analysis – pertaining to needs or perceived needs
• pre-schedule appts
personally meet with all clients that want to
give away goodie bags to all corporate clients
• personal attention. although we do not provide estate or financial planning services we alert our clients to keep this in mind.
• providing clients with strategies to improve their business and to save taxes
• talk with them as a business advisor. make them aware of things they can do, challenge them in certain aspects of their business, brainstorm about challenges.
• first we offer a package of a fixed monthly fee which includes the tax return at no additional charge. we limit our client base to 60 business clients, which means 60 business returns and 60 individual returns. this way we recevie the cash flow evenly throughout the year, the books are kept clean and the tax returns go out on time.
• we are planning on contacting all business clients this year about year end closing and tax planning issues prior to closing the year.
• 1 – offering free portfolio analysis – in hopes of converting them to a managed assets client in our subsidiary. 2 – offering business clients – free security analysis for their computer systems in hopes of converting them for our it subsidiary
• i add value all year long. tax season is the culmination (not the beginning) of the process.
• they always ‘get me’ and not staff, courtesy “tax package received” phone calls…i’m open to suggestions??
• don’t have real plans yet. just started and looking for some ideas.
• great “customer” service – offer treats as they come in etc…
• keeping clients abreast of progress. scheduling post-season meetings for targeted tax planning.
• pointing out tax savings opportunities for the following year
• identify ways to help a client reach their financial and lifestyle goals through tax planning, investment advise, business structure, qualified and non-qualified plan implementation, risk management, etc.
• personal messages / notes to them. reduced turnaround time. tried to keep fees near previous year
• mention hot points like telephone rebate; explain tax deductions re education expenses; point out dormant accounts per 1099 notices;quick turn around
• all i have added is the highest quality professional service. this “add value” crap is like upsizing at mcdonalds. it is a pile of bull$hit.
• i try to help them with their accounting needs throughout the year so that i more than a once a year contact. i assist them in responding to irs inquiries.
• personal contact, newsletter, some hand holding of worried clients, and quality, timely work. also we always have two large jars of candy for them to nibble on while we go over their data.
• giving tax planning ideas when the return is completed
• it’s impossible! they don’t view cpas as value — only cost!
• improved communications
• ways to save taxes
• look for ways to provide financial insight
• for business clients included a memo with possible business improvements. for individuals used a checklist to identify areas we could help
• personal service with personal catered attention
• look for opportunities to maximize business profitability by cutting expenses, identifiyng new business lines to get into, refinancing business. for individuals we look to maximize wealth accumulation though using the best asset allocation – fixed income v equity, taxable v tax-exempt.
• by keeping clients aware of changing tax. situations– re: newsletter & telephone. conversations.
• timely service. april 15th guarantee if i receive all information by april 1
• when i find an item of tax interest for a particular client i copy the article and mail to the client or call them personally
• complete their returns in 7 days.
try to find those “missed” deductions for them.
• evening & weekend appts. discuss investments along with taxes, including retirement planning.
• a combination of providing good service, pricing right and being proactive for planning needs
• i give them advice on what needs to be done to improve their business — from the view of what i would do if i owned it.
• by giving high quality service and going the extra mile
• i work a return until i’ve exhausted all avenues.
• sending organizers to clients to help them prepare for the season, having knowledge of less-common tax issues such as like-kind exchanges and year-round consulting services for tax planning/tax projections.
• we’re still working on that one. we think we add value by being very knowledgeable about a client’s situation.
• year end letter. email clients when appropriate with interesting tax and financial information
• by providing more electronic services such as electronic filing, secure file transfer of clients data and returns.
• i call each client for a tax “planning” discussion.
• personal review of tax situation and suggestions for improving it.
• during the tax interview, identify tax savings.
• we’ve focused on ‘quality’ – complete, thorough and triple checked tax returns. trouble is our clients do realize it and/or maybe not even appreciate it.
• make suggestions on future moves to minimize taxes
• tax planning for the next year
• industry comparisons, analysis geared to the individual client
• personal attention with explanations and advice on how to make things better.
• produce return in a timely fashion. meet or call and review the return with client. give future planning ideas and include them in return cover letter.

join the tax season 2008 study group. benchmark your practice. get the best ideas. see the trends… all season long. take the survey; get the results.

join the tax season 2008 study group. benchmark your practice. get the best ideas. see the trends… all season long. take the survey; get the results.

add your comments below…

posted on october 26, 2007