How to Prepare Returns for a Multiple-Year Non-Filer

Man staring at pile of paperworkThese clients might need a (gentle) push.

By Ed Mendlowitz
The CPA Trendlines Practice Doctor

It is not unusual to meet with potential clients that have not filed tax returns for many years.

MORE ON MARKETING: Structuring Partnership and Buy-Sell Agreements | 7 Questions for Succession Planning | 15 Points to Buying or Selling a Business | 9 Questions to Ask About Divorce and Taxes | How and Why to Offer Estate Planning | Why CPAs Are Suited to Financial Planning | How to Suggest More Services
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With these clients it is important to get them to understand the seriousness of their situation and that the sooner they comply, the greater the likelihood that the worst they would be subject to would be penalties for late filing and payment if they owe money.
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Structuring Partnership and Buy-Sell Agreements

Number 20 with target and arrows in center of zeroA 20-point checklist.

By Ed Mendlowitz
The CPA Trendlines Practice Doctor

This service puts the accountant in the role of a mediator attempting to resolve conflicts and to serve as a facilitator to move things along to accomplish stated goals.

MORE ON MARKETING: How to Conduct Business Valuations and Forensic Investigations | Yes, Accountants Can Perform Conflict Resolution | How to Counsel on Retirement Planning | Investment Clubs and How to Counsel Them | Offering Second Marriage Assistance | What You Need to Start a Financial Planning Discussion | Tax Projections: How and Why | How to Raise Client Awareness of Services
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Who needs this service

Many businesses do not have shareholders’ or buy-sell agreements.
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7 Questions for Succession Planning

This work uses our highest skills.

By Ed Mendlowitz
The CPA Trendlines Practice Doctor

Clients who own businesses should have a plan of succession.

MORE ON MARKETING: How to Conduct Business Valuations and Forensic Investigations | The 64-Point Business Startup Checklist | How to Offer Second Opinions | How to Offer Employment Compensation Assistance | Basic Budgeting for Clients | Guiding Heirs | 11 Questions to Ask Every Tax Client | Add New Revenues with Tax Prep Follow-ups
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One plan should be for when and how they will retire, and another for if they should die while they are in full control of the business. Things happen and will happen and can be devastating to the family – financially and emotionally.
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How to Conduct Business Valuations and Forensic Investigations

Includes a sample preliminary document request.

By Ed Mendlowitz
The CPA Trendlines Practice Doctor

Business valuation is performing appraisals of businesses for many uses and reasons.

MORE ON MARKETING: The 64-Point Business Startup Checklist | 15 Points to Buying or Selling a Business | Offering Elder Care Assurance Services | 9 Questions to Ask About Divorce and Taxes | Guiding Clients in Investment Allocation and Management | 11 Questions to Ask Every Tax Client | Add New Revenues with Tax Prep Follow-ups
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Forensic investigations relate to disputes that are in or will lead to litigation.
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The 64-Point Business Startup Checklist

Multiple question marksHelp your clients find answers to questions they never knew to ask.

By Ed Mendlowitz
The CPA Trendlines Practice Doctor

Many clients start small businesses and some grow into big businesses. Anyone starting a business needs assistance at the beginning from an accountant on choosing an entity, determining the initial capitalization, getting an identification number and setting up the books.

MORE ON MARKETING: 15 Points to Buying or Selling a Business | Yes, Accountants Can Perform Conflict Resolution | How to Counsel on Retirement Planning | Offering Second Marriage Assistance | What You Need to Start a Financial Planning Discussion | Tax Projections: How and Why
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Services also related in this area are buying a franchise, entering into a partnership and structuring investments. All proposed transactions by clients should be reviewed by an accountant for the tax consequences of such activities.
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15 Points to Buying or Selling a Business

Two businessmen shaking hands at meeting in officeEverything has tax effects. This is where you shine.

By Ed Mendlowitz
The CPA Trendlines Practice Doctor

Clients who are deciding whether to buy or sell a business are just at the beginning of the process. There's also determining the proper price, helping in the due diligence process, and structuring the price financially in terms of cash flow and tax considerations.

MORE ON MARKETING: Offering Elder Care Assurance Services | How to Counsel on Retirement Planning | Offering Second Marriage Assistance | 11 Questions to Ask Every Tax Client | Add New Revenues with Tax Prep Follow-ups | Marketing vs. Selling: Both Must Serve the Client First
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This area involves a lot of tax and financial issues.
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Yes, Accountants Can Perform Conflict Resolution

Smiling woman across the table from a couple Think of it as a different form of reconciliation.

By Ed Mendlowitz
The CPA Trendlines Practice Doctor

This service puts the accountant in the role of a mediator attempting to resolve conflicts.

MORE ON MARKETING: How to Offer Second Opinions | Offering Elder Care Assurance Services | 9 Questions to Ask About Divorce and Taxes | Guiding Clients in Investment Allocation and Management | How and Why to Offer Estate Planning | Why CPAs Are Suited to Financial Planning
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

The accountant also serves as a facilitator to move things along to accomplish stated goals regarding financial issues.
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