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Why I’m Moving to Utah and Getting a Real Estate License

This weekend, I’m packing up my worldly possessions and departing for the long trek to Salt Lake City. I’ve mentioned this in passing on webinars and emails recently, along with the fact that I’ve been studying for both the real estate agent exam and the Series 65 exam. This has caused a fair amount of confusion amongst viewers and readers.

To catch you up to speed, after leaving my day-to-day role at my software startup, Prolaera, last summer, I decided that I would reboot my tax resolution practice and build another boutique firm. I spent an entire month doing nothing but evaluating various business models, service options, and other important considerations for starting a new business. What I ultimately decided on was to integrate my personal real estate investing strategy into a tax practice, and build a hybrid tax/real estate brokerage/financial advisory practice all centered around a specific strategy for acquiring rental properties.

The tax resolution aspect focuses on doing only lien withdrawals, subordination, and discharge work to help facilitate real estate transactions (the lien work only model).

Moving to another geographical areas wasn’t originally part of the concept. However, as I started the search for my next rental property purchase, the local market conditions, driven by spillover from Seattle’s blazing hot real estate market, started to look less and less desirable to me. I’m not a fan of rapidly increasing prices, low inventory, and multi-offer situations. That’s just not a game I like to play when it comes to real estate. So I started contemplating a relocation.

As you may have seen last … Continue reading

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5 Reasons Every Tax Professional Needs To Write a Book

Write a book

Struggling to bring in new clients? Not sure what to do next in your marketing plan? There’s one simple answer you probably haven’t considered:

Write a book.

It’s true. This one thing—especially if it’s an actual printed book rather than a Kindle or eBook—has the power to grow your business beyond your expectations. You’ll experience a whole new world of opportunities simply by having your name on the cover of a book.

Writing and self-publishing my first book, Tax Resolution Secrets, back in 2012 enabled me to create an entire new marketing process that brought in leads without significant effort or expense. Inbound leads, while usually slower to come in and of reduced quantity, will usually be of better quality than outbound leads.

Writing that book, and becoming an Amazon category best seller in the process, created a special kind of leverage that helped me to grow my tax resolution practice. A book, by itself, is a great lead generation piece. But even more than that, it becomes an excellent lead magnet, conversation starter, and unique addition to your “shock and awe” box.

Here are five specific reasons why you should write a book.

Authority

Imagine you’re at a conference or local networking group and you meet two consultants who both specialize in practice management efficiency — something you know you need help with right now.

One consultant says all the right things. She’s been in business for years and has worked with several top-notch accounting firms in your area. She has great ideas for how she can help you operate a more efficient tax practice.

The other consultant has a similar history and story, with one added bonus: She’s just handed you a copy of her latest book. It’s a professionally printed, substantial publication that practically exudes confidence.

Which consultant do you … Continue reading

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The Easiest Way to Double Your Tax Firm Revenue

You probably already know that your client list is the single most valuable thing in your business.

That list represents people that already know, like, and trust you. You have a relationship with them, and they hold you in high esteem (hopefully!). They view you as a trusted advisor, and should generally take any advice that you give them positively.

You can leverage this relationship to double your revenue. Here’s how…

The vast majority of tax professionals are not running what I refer to as a boutique tax practice, which is the type of practice I prefer to operate. What I mean by boutique is a tax practice that offers a singular service to a singular clientele. For example, I built my first private practice by offering state and IRS Collections representation to family-owned trucking companies in five western states with an average of 5 to 10 trucks. I didn’t offer seasonal tax preparation, ongoing bookkeeping service, payroll, etc. Highly focused, highly niched. Boutique.

Obviously, most Tax Marketing Tips readers aren’t operating that way (there are distinct pros and cons to that business model). In general, tax practitioners offer more than just tax prep services. I don’t know specifically what other services you offer, but I’m sure they exist. Here’s the critical question: How many of your clients take advantage of ALL your services?

The answer should be, “…as many as possible!”

So the easiest…simplest…fastest…cheapest way to drastically increase revenue is this: Make more offers.

Your clients love you. They appreciate you. They trust you.

Your tax prep only clients need and trust your tax planning advice. Your tax resolution clients need and want your tax prep, payroll, and accounting services. If your client’s income exceeds that 400% of federal poverty line threshold, they need and want your guidance about navigating … Continue reading

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