maybe the pandemic isn’t all bad

dog sleeping in home office as woman works at computer in background4 hidden blessings.

by ty hendrickson

i have never felt the power of the old saying, “the only constant is change,” more than this year. as we navigate the second half of 2020, i find myself reflecting on how much has changed in the course of just a few short months. 

more: the no. 1 reason accountants fail to build advisory practices | the real problems created in a remote workforce | can you really grow without adding clients? | 4 reasons to welcome rejection
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i don’t want to talk about covid-19 or the new normal or unprecedented times or any of the other hot terms we’ve all heard about 100 times daily. everything that 2020 has hit us with has been incredibly heavy, insanely bizarre (can we please never hear about murder hornets again?) and for someone like me who already functions with a high level of anxiety, it is has been very stress-inducing.

2020 has been a wild ride both personally and professionally, and i’m ready for a fresh start.
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the coming boom in tax services for the super-rich

money tree growing in the middle of green meadowhow to get their business.

by anthony glomski and russ alan prince
your $5-million high-net-worth practice

tax planning is in very high demand by the wealthy, growing exponentially in importance as you move up the wealth hierarchy.

more: the seven simple steps to thrive in the covid crisis | the three new business models delivering significant profits for accounting firms | 5 meetings of the (true) wealth management process | collaborative wealth management: defining the framework | protect your clients’ assets | even entrepreneurs must diversify | when clients cash out: four smart financial moves
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for a large percentage of the super-rich (net worth of $500 million or more) with various private company interests, astute tax planning is the most valuable expertise far exceeding other services such as investment management.

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need a new service line? consider tax resolution

money tree growing in the middle of green meadowbonus: an overview of the process.

by jassen bowman

with over 14 million active irs collections cases, there is a tremendous need for competent taxpayer representation. there has never been a better time to add this highly lucrative, recession-proof service to your tax practice.

more on tax resolution: how to maximize crm system tags | 10 steps to setting up direct mail | process communications efficiently | suggested tax resolution client payment guidelines | basics of tax season work flow | when to follow up on prospects | checklists for new lead generation | client management checklists for tax resolution | how to handle client complaints
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in fiscal year 2015, the irs opened 8.1 million new collections enforcement cases, while only closing 7.1 million cases. altogether, these taxpayers owed the irs over $137 billion. that’s more than twice the entire annual budget for the u.s. department of education.
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working business development into your day

businessman standing outside the office on the phone with coffeeand five ways to counter possible objections.

by marc rosenberg
the rosenberg practice management library

the accountants’ use of their time is critically important to running a successful, profitable accounting firm.

more: networking for fun and profit | why consultative selling works | how not to develop your practice | does your firm recognize all its skills? | 15 powerful niche marketing practices
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time management is critically important to business development:

  • it helps you determine how much time to spend on business development. spending 100 hours a year on business development should yield better results than spending 10.
  • it helps you determine when you spend your time.

let’s drill down on the when.

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