TaxCoach Briefs:    December 29, 2009 — Combined Holiday Edition

Volume 4, Number 52

• Marketing Minute: Your New Years Resolution
• New Resource: Tax Season Prospecting Letter
• Member Testimonial of the Week: Income Shifting
• Resource Updates: 2010 Updates
• Member Resource: Member Call-in With Ed (but not Keith)

****Attention All-Stars and Press Club members ****: Our next elite masterminding webinar will be on Tuesday, January 12, at 4pm Eastern. We're going to discuss Time Management — taking a fresh look at ways to make the most of your limited resources as we head into busy season, and sharing some "best practices" Ed and I have adopted in just the last few months. Mark your calendar now — we'll update you with detailed agenda and registration instructions as the time draws closer, via The Scout and the All-Stars page within TaxCoach.

****Attention TaxCoach members****: The next issue of the TaxCoach Lineup hits the post office soon. Make sure your address is up to date in TaxCoach so you don't miss out!

****Attention Briefs readers****: Due to the timing of the holidays this year, we've combined two weeks worth of Briefs into one issue spaced between the holidays. We'll return to our regular Thursday publication next week.

TaxCoach Briefs archives.

=====================================================
MARKETING MINUTE (EAL)
=====================================================

YOUR NEW YEARS RESOLUTION

2009 is (thankfully!) almost over, and by now you should have a good idea how close you came to the goals you set for yourself a year ago. (You did set goals for yourself, didn't you?)

So . . . how did you do? Did you make your numbers or not? Did you get the extra time off that you wanted? Did you spend more of your practice time working with the clients you want, and less with the ones you don't?

If you're pleased with your year, congratulations! If not, I'm sorry to hear it. What happened to stop you?

If you have great clients who love you, who value your services (lucror vestri dignitas!), and understand why they need your help, then no doubt you had a great year. If you don't have that kind of relationship with your clients, or they don't understand why it makes bottom-line sense to invest in your services, then 2009 was probably a little rough.

Notice that the common denominator revolves around who your clients are and how many of them you have. Sure there are other factors affecting your year-end results. But if you don't have enough good clients in your book, even Santa (or Hannukah Harry) can't bring you the results you want!

So, if the quality and quantity of your clients are the biggest determinants of your success, it makes sense that your New Years resolution for 2010 should be to attract and keep all the high-quality clients that your practice can handle!

Sounds simple, right? That's because it is!

Keith and I have always said that marketing is easy. It really is -- because we've created, tested, fine-tuned, and proven materials for you to use yourself. There's plenty of it in the TaxCoach Playbook, and even more for you to access through the Roundtables, All-Stars, Press Club, and Certified Tax Coach™ programs. Proactive planning attracts clients and sets you apart from your competitors, and we've designed our tools to do just that.

Having a waiting list of eager clients is far more rewarding than any practice management or operations system can ever be. Focus on attracting clients first and profits will follow.

It's just that simple.

=====================================================
NEW RESOURCE (EAL)
=====================================================

TAX SEASON PROSPECTING LETTER

Keith and I have always highlighted the difference between basic tax preparation and proactive tax planning. Tax preparation is a necessary evil, at least as far as clients are concerned. But tax planning is where we really deliver our value.

Having said that, "the season" is almost here, and most prospective clients are thinking about preparation, not planning.

Earlier this month, one of our All-Star members asked if we could create a tax-season prospecting letter that would appeal to business owners looking for tax prep services and that would also introduce the value of planning. I drafted the letter, we walked through it line-by-line, and now we're making it available for your use.

You'll find the letter in the TaxCoach Playbook, under the "Sample Letters" heading. The Playbook is on the left (blue) side of the Home Page, once you've signed in to the TaxCoach system.

=====================================================
MEMBER TESTIMONIAL OF THE WEEK (KAV)
=====================================================

The income shifting ideas are wonderful. I have worked for a CPA firm for many years and I heard them tell various clients this cannot be done. After reviewing your information, the research on a federal level says it can. I think what you guys do are great.

William Clanton,
Precise Tax Solutions, LLC
Staten Island, NY

=====================================================
RESOURCE UPDATES (KAV)
=====================================================

2010 UPDATES

Ed and I built TaxCoach as a "lifestyle business." But unfortunately that doesn't mean we're not chained to it at certain times! With year-end coming up, the kids may be off school, but we're in the office updating the system for tax law changes that take effect on January 1, 2010.

This year, at least, we have help. We'd like to introduce the newest member of the TaxCoach team, our Research Accountant Lisa Wells. Lisa is a CPA with extensive marketing experience, including teaching at a local university. Lisa is in charge of reviewing the full system and all its contents, and identifying areas which need updating for the new year.

As of Monday, January 4, we'll have all of the strategy modules, tax rate tables, phaseouts, and summary report text updated for 2010 law. Following closely behind will be the state modules, seminar kits, outlook letter, and the raft of content that makes up the full body of the TaxCoach system. Stay tuned to the Briefs; we'll keep you posted.

Happy New Year!

=====================================================
DID YOU KNOW . . . (KAV)
=====================================================

REFRESH TAXCOACH'S SUGGESTIONS

. . . that TaxCoach can re-apply its "Artificial Intelligence" for you, when you change details about a client? TaxCoach automatically makes the picks the first time, but after that, you have to ask!

On the Reports screen, simply click on the blue "Refresh TaxCoach's Suggestions" button, and the system will review the client details and make new default selections in the module list. The "Report Contents Meter" above it tells you how current the selections are vs. what you've saved for the client.

And remember you can always add or subtract strategies to further tailor the reports to your practice or the specific client — just check or uncheck modules in the list. Your picks will be saved until you hit the "Refresh" button.

=====================================================
MEMBER RESOURCE (KAV)
=====================================================

MEMBER CALL-IN WITH ED AND KEITH

We had the usual strong attendance on the call-in last week, even on the week of Christmas! If you're looking for clarification on tax strategies or profiting from TaxCoach too, join us for the next call, on December 30, at 1pm Eastern. Enter a question or just listen in on the repartee. Check the "Contact Us" button within TaxCoach for registration instructions.

We have determined that while we are happy to answer questions on TaxCoach marketing, concepts, and strategies, we can no longer continue to analyze detailed case studies. Specific client scenarios generally involve detailed factors outside our knowledge, and we have determined (along with our attorneys at Crane, Poole, and Schmidt) that we aren't comfortable addressing those scenarios. Unfortunately, we're just not set up to act as an "on the fly" research service. (If you're looking for that sort of support, take a look at the Certified Tax Coach™ program.)

Members occasionally ask if we can record and archive these calls. The answer is that we want to keep them as informal and uninhibited as possible. For example, we’ve discussed outside tax software and marketing services (both good and not-so-good), and we don’t want to put ourselves on record with those comments. Member Call-Ins are intended to be casual discussions among peers – and we don’t want recording them to threaten that chemistry.

While our elite members (All-Stars, Press Club, and Hall of Fame) can still schedule time directly with Ed as part of their coaching programs, we simply cannot answer marketing and tax-strategy questions via email or unscheduled calls.

=====================================================

We're happy to answer your questions on TaxCoach content or features. (Save marketing and tax strategy questions for Member Call-Ins.) For best response, email support@taxcoachsoftware.com. If we think the answer will be useful to all of our members, we'll publish it (anonymously) here in the 'Member Q & A' section of TaxCoach Briefs.

Regards,

TaxCoach Briefs Archives...
Certified Tax Coach™
TaxCoach All-Stars
TaxCoach Press Club
TaxCoach Closely-Held Insurance Company
TaxCoach Cost Segregation