INSTANT DOWNLOAD: Ed Mendlowitz’ Tax Season Opportunity Checklist Kit

Welcome PRO member! 12 Reasons to Love Tax Season Ed Mendlowitz’ Tax Season Opportunity Checklist Kit (16 pages, PDF) Click here. Free for CPA Trendlines PRO members Including: The Reviewer’s Checklist for Individual Tax Returns – 34 Items The Reviewer’s Checklist for Business Tax Returns – 42 Items The Top 12 Tax Return Preparation Errors Reviewer Qualification Test: 10 Questions Every Reviewer Should Know… ” …And the Answers (No Peeking!) Additional Services Checklist: 15 Potential Client Needs Sample Listing of Additional Services to Clients: 40 Services Every Firm Could Cross-Sell What Makes a Good Client: 16 Tips The One-Page Tax Season Client Follow-Up Action Plan CLICK HERE TO DOWNLOAD NOW

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When to Hire an Admin Assistant

Do the math. Hire the best. By Ed Mendlowitz The CPA Trendlines Practice Doctor QUESTION: I seem to be wasting a lot of time and can’t put my finger on it. I go home at night feeling I am more behind than when I started that morning and my chargeable time is dropping. What suggestions can you make? ANSWER: Many professionals, not just CPAs are spending more and more time on non-business purpose activities. I don’t want to say nonessential because booking a flight or setting up a client meeting is essential, just that it is not what you are being paid for – it is not your business purpose. This person I spoke to, and many others in similar […]

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How to Notify Clients of a Partner’s Retirement

Phase in so there are no surprises. By Ed Mendlowitz The CPA Trendlines Practice Doctor QUESTION: Thank you for your Q&As on the death of a sole practitioner and purchase of a practice. Do you have anything about the retirement or death of a senior partner? ANSWER: The death of a senior partner, or any partner, becomes public knowledge almost immediately with many clients attending the funeral, wake or Shiva. In those cases I have not seen any falloff of clients since there is a correct assumption by clients that there was backup, that the files are intact and will be maintained, and if staff was working on that client they will continue. MORE PRACTICE DOCTOR Q&A: 7 Ways to Lose […]

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7 Ways to Lose a Client’s Trust

Are you about to do any of these? Is it worth it? By Ed Mendlowitz The CPA Trendlines Practice Doctor QUESTION: I believe I have a very high degree of client trust. But somehow I feel it is not 100 percent. Any comments? ANSWER: This person has a common problem. The trust is very high – probably higher than any other profession – but not complete. It is rare for trust to be 100 percent. But here are seven ways to lose a client’s trust:

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Here’s Your New Tax Season Marketing Plan

Think now about June. Yes, June. By Ed Mendlowitz Tax Season Opportunity Guide Marketing takes many forms. Further, many accountants are not trained in marketing. I also know that while most CPAs want more business, they are too busy with what they have to be actively seeking new business. Additionally, marketing can be external, internal or retentive. MORE ON TAX SEASON: When ‘Quick and Easy’ Tax Season Research Isn’t | 5 Personal Touches for Tax Season | Consistency Simplifies Tax Season | 11 Clear Client Instructions to Make Your Tax Season Easier | 3 Ways to Build a Tax Season Team | Have Fun This Tax Season | How to Get Paid Faster This Tax Season External is where new […]

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Quote With Care When Asked for Valuation

12 issues that might not have been addressed. By Ed Mendlowitz The CPA Trendlines Practice Doctor QUESTION: I was asked to do a quote on a business valuation for a startup that will be raising money on their second stage financing. How do I quote this? ANSWER: This is a wide-reaching question and it is not possible to know initially what the client really needs. They could need a valuation, a business plan or a method of bringing in the investor. Here are some of the many issues and variables:

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When ‘Quick and Easy’ Tax Season Research Isn’t

Four reasons not to let one question stop a tax return in its tracks. By Ed Mendlowitz Tax Season Opportunity Guide I keep a few of the one-volume tax guides in my office so I could look up a quick answer when I need to. Recently a golf buddy emailed me a question that I thought I could answer quickly. He wanted to know that if he was in the “zero” percent capital gains tax bracket, did that apply to an unlimited amount of capital gains? Sounds like a simple question. MORE ON TAX SEASON: 5 Personal Touches for Tax Season | Consistency Simplifies Tax Season | 11 Clear Client Instructions to Make Your Tax Season Easier | 3 Ways […]

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Tax Season Opportunity Kit Free Instant Download

10 Easy-to-Follow Checklists More than 244 Great Ideas for a Smoother, Happier, and More Profitable Busy Season By Edward Mendlowitz, CPA, author of the weekly CPA Trendlines column, Practice Doctor Q&A.   CLAIM YOUR FREE eBOOK NOW

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Closed for Tax Season? Looks That Way

Automation can send the wrong message. By Ed Mendlowitz The CPA Trendlines Practice Doctor QUESTION: I have an automatic email response and some clients and contacts criticized me for it. I am overloaded during tax season and this takes some pressure off of me. Here is the automatic email response I am sending out: THANK YOU for your e-mail. Please accept my apology for this automated response. During tax season, most of my work days are scheduled with appointments and calls. I most always reply to emails and phone calls as soon as I can, usually the same day. Replies are slower during the months of February, March and April. Thank you for your patience. ANSWER: That’s terrible! MORE PRACTICE DOCTOR […]

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5 Personal Touches for Tax Season

One is a can’t-skip. By Ed Mendlowitz Tax Season Opportunity Guide Occasionally accountants lose touch with their clients, especially during tax season. Part of this is because of the crush of work, which is compressed into a pretty short period. We sometimes lose sight that we are working on something the clients consider one of the most important things in their lives at that moment.

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12 Must-Knows for Niche Markets

Make sure you fully understand their needs. QUESTION: I have a couple of clients in a number of industries and when I ask for referrals they tell me they do not want me to handle competitors of theirs, yet I know of many CPA firms that have large amounts of clients in concentrated industries. What am I doing wrong? MORE PRACTICE DOCTOR Q&A: How Much Should You Pay To Buy, Sell or Merge an Accounting Practice? | Is Joint Representation a Conflict? | When Large (or Any) Clients Need Backup Assurances | When Is It Time to Merge? | What Goes in a Client’s Permanent File? | 6 Ways to Take a Client Beyond Tax Prep | 18 Ways to Blow […]

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Tax Season Urgency: It’s a Bad Thing

Six ways to eliminate stress and potential mistakes. By Ed Mendlowitz Tax Season Opportunity Guide Urgency creates stress and pressure and leads to mistakes and improper perceptions of the quality of the work. Planning and execution reduce urgency. One way to eliminate urgency is to properly plan the work with realistic deadlines and proper resources. Assign tax returns to the proper level, available staff person. Occasionally, when staff have returns with other work commitments and if there’s incomplete information, a break occurs, and the return isn’t ready for the person who started it, causing additional delays creating urgency. No one likes to always work under pressure, and an atmosphere of occasional urgency usually grows into perpetual urgency for everything. Playing […]

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How Much Should You Pay To Buy, Sell or Merge an Accounting Practice?

Here are just 19 factors. By Ed Mendlowitz The CPA Trendlines Practice Doctor QUESTION: I am in process of buying a practice and would like to know how much to pay. MORE PRACTICE DOCTOR Q&A: When Fees Don’t Keep Up With Cost Increases  | When Large (or Any) Clients Need Backup Assurances | 18 Ways to Blow a Partnership Opportunity | 10 Do’s and Don’ts for Making Small Business Clients Happy | 10 Ways to Get New 1040 Clients | Before You Even Think about Selling Your Practice… ANSWER: An alternative question is how much to sell it for. This is a complicated issue with many important variables, some of which are:

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