But it’s true.
And the problem is your tax prep fees are what we call LOW & LUMPY.
Low price and lots of difference services LUMPED together like these:
-Free Tax Assessment
-Implementation of Planning Strategies
-All tax support questions for 12 months
And the truth is, most preparers are doing those (and not well) because their prices are so low, that they simply can’t get to it.That stops TODAY.
And here’s how we do it…
1. Make a list
-Monthly Accounting Clients (not currently on tax prep)
-Sort by revenue / income
2. Reach out to them (via text, email, Facebook message, or a phone call)
-At least the top 25% by income
3. Provide more VALUE (tax planning, new return, accounting side..)
-Mid year check-in
-Update on the business this year and get…2019 & 2020 projections, 2019 estimated savings, 2020 estimated savings + every year going forward
-Make them an offer using a tax planning sales script (if possible)
-Price each of the services separately <– no more lumpy pricing!
That’s how Christina charged $9,000 for tax planning, then $3,000 for tax prep for a client that paid $650 the year before! And that didn’t even include implementation….
4. If no offer, let them know requests lists and updates will come out in January
5. Send those that didn’t take planning a price increase letter
-If it’s a <$700 business… Double the fees
-If it’s a <$400 individual… Double the fees
6. Selling the stand alone 1040 returns (NOT Schedule C) before tax season
(if it’s over $50k revenue)
And if you do that, you’ll be like Melanie:
“This year we double fees on tax prep because I finally got it, thanks to Andrew. We lost 30% of our clients, but we increased our revenue by 40%. Thanks for giving me the courage to finally see my value.”
If you want the EXACT email script + tax planning script to upsell prep clients into $50,000-$30,000 engagements…
Go to AccountingTax.com/enroll and download the scripts instantly!