Now that the April 15 deadline for submitting 2018 returns has passed, you and your clients may already be thinking about tax planning as it relates to the April 15, 2020 deadline. With the recent changes in federal tax law, it’s the ideal time to reach out to your clients to ensure they understand how to proceed with tax planning to their greatest advantage. By working with clients and guiding them in their future planning, you can move your own firm to the next level of profitability.
Think Beyond Tax Planning to Assist Clients with All Financial Needs
As a certified public accountant (CPA) or the manager of a financial advisement business, you want to let your clients know that they can depend on you to assist with all types of financial planning needs. Whether it is retirement savings, handling the estate of a recently deceased elderly parent, helping to finance a child’s college education, or another important financial goal, express to your clients that you’re there for them. They are likely to contact you when a new need arises if you do an excellent job with their tax preparation and tax planning.
Coordinate with Other CPAs
If you work alone or only manage a handful of financial advisors, you may assume that you can’t handle every concern your clients approach you with. While that may be true, creating a network with other CPAs ensures that clients receive the service they need. By coordinating the effort, you may even be able to receive payment from each CPA who agreed to provide a service for your client.
The Financial Planning Certificate Program
The biggest selling point with clients may come from what you call yourself. If you have earned the CPA credentials, make sure you introduce yourself as a certified public accountant. If you’re a financial planner, but feel you need additional credentials to help yourself stand out, you may wish to consider enrolling in the Personal Financial Planning Certificate Program to enhance your knowledge about topics such as investment planning, risk management and insurance, estate, retirement, and more. This will give you the confidence you need to tell your clients you can indeed help with most financial concerns.
Are You a Member of PASBA Yet?
PASBA, which stands for Professional Accounting Small Business Association, is a membership organization for accountants, CPAs, financial planners, and Enrolled Agents serving America’s small businesses. If you’re looking to grow your practice by increasing efficiency and profitability, complete the application to join PASBA today.