client service

Is Joint Representation a Conflict?

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Ed Mendlowitz CPA The Practice Doctor Q and AMake sure they both agree and you should be OK.

QUESTION: I have a long-term tax client who is going through a divorce and have been asked to meet with both spouses (soon to be ex-spouses) to perform tax and financial planning services. Is representing both of them a conflict?

ANSWER: It has the potential to be a conflict if not handled properly. Here is an engagement letter that Martin H. Abo, CPA/ABV/CVA/CFF uses in such circumstances. It is included here with his permission.

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Are You a Passionate Accountant?

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Young Asian entrepreneur reading magazineTake this quiz to see whether you’re phoning it in.

Do you seek out opportunities to learn new things that will help your clients overcome their most difficult challenges?

Selling value-creation advisory services is truly a slam dunk with most modern business owners, according MentorPlus. The bad news is that, although most CPAs would say they are their clients’ most trusted advisor, few could answer the following questions in the affirmative.

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The 12-Step Program for Building Better Client Relationships

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Selfie Cell Phone PicsTurn the habits of everyday friendship into business skills.

By Jean Marie Caragher
The 90-Day Marketing Plan for CPA Firms

Since strong client relationships contribute to client satisfaction, longevity and lead generation, partners often encourage their managers and staff to build relationships with their clients. But these managers and staff look at the relationships their firm’s partners have built over time and think it’s impossible to replicate their results.

Building relationships with clients can be done using the same behaviors that we use when building friendships and courting our spouse or significant other. Consider these 12 tips to build client relationships, especially during tax season, prime time for in-person client contact. READ MORE →

When Large (or Any) Clients Need Backup Assurances

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Ed Mendlowitz CPA The Practice Doctor Q and AHere are 8 concrete suggestions.

By Ed Mendlowitz
The CPA Trendlines Practice Doctor

QUESTION: My largest client does over $100 million in annual sales and accounts for 40 percent of my total revenue. Its bank has expressed their concern to me and the client about the existence of a contingency plan for accounting and tax backup in the event of my untimely death or long-term medical issues. This is a very important issue for me and I would appreciate any advice you can provide.

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Unhappy Client? 5 Constructive Approaches

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Drawing of unhappy face and arrow pointing from it to happy faceWith the right approach, you may be able to save the relationship.

Unhappy clients won’t tell you they have a problem; they’ll simply move their business elsewhere.

So, if a client gives you a chance to repair a bad situation, take it.

Here are a few tips from Maribeth Kuzmeski, author of “The Connectors: How the World’s Most Successful Businesspeople Build Relationships and Win Clients for Life,” to keep your business relationships from going bad — and rescue those that have started to sour:

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What Goes in a Client’s Permanent File?

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Ed Mendlowitz CPA The Practice Doctor Q and AWe’ve found at least 50 items. What would you add?

By Ed Mendlowitz
The CPA Trendlines Practice Doctor

QUESTION: What type of information should be kept in, or as, permanent files?

RESPONSE: A permanent file should be maintained for each of your clients. This would include the following:

  1. Engagement letters
  2. Representation letters – I would keep these in the permanent file. An example is that a claim could be made after you no longer have the work paper file associated with the matter. This is especially so with estate planning consultations where a claim could arise many years after a gift tax return was filed. I would keep copies of Crummey letters in the file for the gift tax returns, if it is your practice to obtain copies of such letters READ MORE →