Educating Business Owners about Tax Deductions.
Flat Fees or Line Item Charges?
Yesterday I had a long discussion with a client about how we bill for services. I prefer to bill a value added flat fee but my client prefers to bill like a lawyer where they line item out the charges for software like Quickbooks, Filing Fees and other ancillary...
How will you celebrate the holidays in your office?
If you have not yet communicated your holiday schedule with your team and your clients then NOW is the time. Any half days? Closed days? Your team are wondering and your clients probably havent even thought about it. This is a situation where over-communicating and...
Where does your PROFIT really come from? Not your Revenue, your PROFIT.
Yesterday I fascilitated a partner meeting. Two partners got in a knock down all out verbal brawl about whether the tax department was more profitable than the CFO service department. What really blew my mind was that their comparisons and their arguments were...
Do you respond to inbound emails within 24 hours?
What is your client response time? My firm policy was same day by end of day. Some firms choose 24 hours, some choose within 3 business days. Amazon has forced us all to check our response time. Check our promises and under promise and over deliver. No matter what...
I found THE PERFECT SOFTWARE solution
Hmnnn, I don't believe you for one hot minute. Why? Because there is no such thing as the perfect software solution. The best solution is one that meets as many of your needs as possible but perfect, nope, not possible. Having worked in tax and accounting for twenty...
Who are your passengers?
Have you heard of the business analogy where the bus is your business and your team are your passengers? Do you have the right passengers for your bus AND are your passengers in the right seats on the bus? I love this analogy because it causes us to think about 2...
More pointless and frustrating meetings?
Having run many pointless and frustrating team meetings myself over the last 20 years, I can confidently say, its a time and energy sucker that leaves you and your team worse off than if you had no meeting at all. I used to have all team meetings every Monday morning...
Which States have an ESTATE TAX?
As Americans continue to pick up and move across state lines, let's consider ESTATE TAX and INHERITANCE TAX. Two taxes often forgotten as generally these taxes only affect the 1%. In 2023, on the Federal level, only estates over $12.92 million ($25.84 million per...
IRS introduces Chat Bots
Have you ever had communications with a Chat Bot? I have used chat bots when I have software questions or when I have ordered something and need help with my order. This has largely been a horrible frustrating experience for me. How about you? Well, the IRS announced...
Is your TEAM working?
CPA firms nationwide have been struggling to find A Players for their teams, especially experienced A Players. I have been working with several medium sized firms over the last few weeks as their Fractional CEO, implementing the tools and strategies that I used to...