all right guys i think that we are live
right now so welcome to today's live
master class we are going to go step by
step on how you can start your tax
business for the upcoming season so
right now we are in november um it's
slowly but surely coming up towards the
end of the year and then we will be in
tax season
um for
2021 taxes right so in 2022 you're going
to be preparing taxes for 2021 okay so
quick introduction my name is krista
tyus i teach tax and accounting
professionals how to get more clients
utilizing social media and scale to
multiple six figures um i am writing a
special on my program tax and accounting
six figure accelerators so if you've
been on the fence thinking about working
with me we are launching a pre black
friday special where you can get over 60
off so you can go to certifiable.com
find my course and you want to enter
discount code thanksgiving right so you
can get um 60 off my course and you can
work with me for a year and i can help
you start and grow your business
so today i want to give you all of the
step by steps right so as i'm going
through this training as i'm you know
walking through these steps i want you
guys to be asking questions right so i'm
going to be hopping back to youtube to
see if you guys have any questions um
and i'll make sure that i answer your
questions live all right so what i'm
going to do is i'm going to share my
screen
because you guys know i'm a powerpoint
freak
i have to see things visually like i am
a visual learner so if you're anything
like me you probably are a visual
learner too so let's put the title of
this training as start your tax business
for 2022 okay so this is really good
because i'm going to be off the cuff
with this like walking you through as
we're like imagine this is like a
coaching session that you and i are
actually about to map out your business
for 2022 together right now all right so
first things first let's put the basics
down here okay so first things first we
want to start with tax law right and tax
knowledge let's get that out the way you
know taxes is fairly simple
to do especially when you are just
entering data right most tax preparation
softwares they do not most all of the
tax preparation software is they're
going to do the calculations for you
okay
um you need to understand like how to
enter that information into your system
so there's two different types of
knowledge that you want to make sure
that you brush yourself up on that you
understand one is tax law and tax
knowledge and then the other
right
is
i would say tax
um we're going to call it tax
preparation right so this is kind of
like the data entry this is you actually
taking those w2s and you entering it
into your system now if you know tax law
then you're going to understand and it's
going to be a lot easier for you to be a
tax preparer right just because someone
can prepare taxes does not mean that
they are knowledgeable in the law okay
so let's get that clear there are a lot
of people that prepare taxes that have
no clue what they're doing they're just
popping in credits um
so you don't have to know both to do
taxes but you want to know both in order
to do taxes at a high level so what you
want to do you want to go to irs.gov
right this is the quickest way and the
freeway that you can actually get some
tax knowledge right now so what you want
to do is you want to browse all the
credits and deductions and the forms and
instructions so the great part about
irs.gov is that it already lists out all
the common forms that you are going to
come across when you are preparing taxes
so first of all form 1040 right you also
have the instructions here so it would
behoove you to actually go through these
instructions i mean it's 115 pages but
you you want to kind of get the basics
right you want to understand filing
status you want to understand income tax
credits payments and refunds and if your
clients owe what they need to do
so what you want to do you want to make
sure that you pay attention to the tax
year right so this is tax year 2020. now
keep in mind we're going into 2022 so
you're going to be doing taxes for 2021.
so we want to make sure that we have the
right forms that we are reviewing so
what you want to do what i'm going to do
is type in
um irs 1040
2021 let's see if they released it yet
it might not be
released just yet normally the irs
releases it sometime early december
um and it looks like it hasn't been
released just yet so come back um early
december um the the 1040 instructions
should be updated for 2021 that is the
year that you want to start reviewing
this information and being updated right
so right now it still has
um 2020 right no worries so you're just
a few weeks away it'll be updated pretty
soon the entire site will be updated
with the current year forms right for
2021 but this is the freeway right you
can still use 2020 to get an
understanding of you know um of the form
and
some nuances of the form you know just
familiarizing yourself with the line
items that you're going to be looking at
now again your tech software is going to
make this a lot easier for you but you
still want to understand this yourself
and you want to make sure that you are
doing it at a high level now the other
thing that you can do is come in here
and actually look at all of the popular
credits right for instance earn income
credit the eitc is a really big credit
for individual taxpayers who
have a qualifying dependent right so you
want to read this information who
qualifies um if it breaks down
everything for you right basic eitc
qualifications what is considered earned
income how to claim the credit right how
to avoid common errors uh what to do if
you were audited right this is something
that you want to know if your clients
are audited
and then it also says other credits your
clients may qualify for so child tax
credit child independent care credit so
i would say just spend you know a week
or so going through these credits and
understanding you know the nuances of
them the tax law required so you can
equip yourself with this tax knowledge
right you could do the same thing for
businesses and self-employed right they
have um very various different business
credits you can drill down to like
schedule c we can type in schedule c
here and we can look at um the schedule
c form
about schedule c which is the profit or
loss from business for a sole proprietor
right you can see the instructions here
and so forth so you want to spend about
a week or so just diving in on tax law
right and tax knowledge because like i
said your tax software
when you do the tax preparation right
now you're taking that information
you're entering into your system this is
the easy part honestly but if you know
the law behind what you're doing that's
what's going to make you confident and
that that's actually what's going to
ensure that you provide quality tax
preparation services right so now that
you got your knowledge out the way
um and that's the freeway right going to
irs.gov i'm always recommend to as you
are
you know on this journey i would
definitely recommend you guys to become
an ea if you think that taxes is going
to be
um a business model that you want to do
for the long haul i would definitely
implore all of you to study for the ea
the reason why is because all of this
that i just went over on irs.gov
is going to be covered when you go for
your enroll agent right you're going to
learn representation right what
constitutes as representation before the
internal revenue service you're going to
learn business tax law right the
differences between a partnership an s
corporation
um a non-profit a
c corp right you're going to learn all
those nuances the following due dates
right deadlines penalties and then
you're also going to learn all there is
to know about individual tax law right
so the intro agent it helps you
get all of this knowledge in a very
succinct way so you're not just randomly
going on irs.gov and pulling everything
up yourself um and it's actually walking
you through a very specific process
right so i would definitely recommend
you guys to go after your ea
though it's not required so i do want to
put that caveat out there you do not
have to be a ea a cpa or a tax attorney
to prepare taxes right
i only recommend it because you do gain
so much tax knowledge that's going to
allow you one to take on better paying
clients right because you're going to
know the ins and outs of a partnership
or an s corp and if you know and you
work with me you know we charge on
average a thousand dollars we start at a
thousand dollars for an escort
partnership or corporate return that's
our starting mark right and so going
after your ea you're going to learn all
of this great information that you need
to
prepare that type of tax return right so
this is what i call working smarter and
not harder right because you're able to
get you know 50 clients and make 50 000
because on average each business client
you're charging a thousand dollars and
honestly it'll probably be more than
that because not only will you do their
business return but you're also going to
do their individual return so now you
just almost doubled your income but you
don't have to have hundreds and hundreds
of clients to make six figures in your
business becoming an ea is a great way
to do that
so i of course i'm going to recommend my
course i'm going to recommend our enroll
agent course that you can find on
certifiable so when you buy the course
you're going to get all three courses
broken out like this individual tax law
representation
but you can buy the bundle to get all of
the courses together go through it and
pass all three parts so the examination
you're also going to get the books
that's going to come in the mail as well
that you can read and
go along with the course um
with the training course all right so
now that you have the knowledge now we
need to actually start looking at um
just some basics so i'm gonna just write
out ethan
p10 and then i'mma write out business
incorporation
so what i would do is and this is not in
a particular order but let's start with
business incorporation i would
definitely incorporate your business is
it required no it's not required you
don't have to incorporate to get your
ethan or your pizza in but i will
i would um tell you to do that so go
ahead and get incorporated with your
state like for instance the state of
michigan i can type in d-o-g
d-o-e-g michigan i can go to
corporations division and i can go ahead
and search to see if that name is
available but i also can file for my
business for just 50 directly on the
state of michigan website so wherever
state you're in you can typically just
go to their to your state website and
apply
for incorporation directly with your
state you don't have to use though you
know like e-file.com or anything like
that now you can use those websites
right but they might charge you
obviously
you know a higher fee because they're
facilitating that process on your behalf
whereas if you go directly to the
state's website you can do it yourself
um and it's typically a lot cheaper
right so you want to search the name of
the business that you want and then if
it's available go ahead and file online
for it now another common question that
i typically get is well krista
um what should my name be right what
should my name be and i tell folks you
know it really doesn't matter what your
name is um you know when i first started
my name was dynamite
tax and financial
service
right that was my first name when i very
first started and in my mind i was going
to be this big franchise you know i
wanted to franchise and license the
dynamite tax brand um i even got a few
franchises actually there's a few folks
that are still operating under the
dynamite tax which is exciting um but i
wanted to franchise and i wanted to just
be this big brand right
after a while and i realized that that
wasn't the business model that i wanted
to do
i actually
like pivoted and i was like hmm
dynamite for me didn't
it didn't
i think
personify the type of business that i
wanted to be known for okay so what i
ended up changing dynamite tax and
financial service to i ended up going
with chris tyus
and associates right because i wanted to
transition from working with a lot of
you know individual 1040 clients to
working with business clients right i
wanted to transition working with
multi-million dollar business owners
that were following their c corps their
s-corps their partnerships their
non-profits i wanted to be able to
charge you know fifteen hundred dollars
two thousand dollars for tax return be
able to charge you know thousands of
dollars for bookkeeping and accounting
services and when i looked at all of the
companies that i emulated that were
doing that they just had their name
right it was just john doe cpa and
associates right and i was like ha
right like that's what i'm going to do
and that's when i switched my name from
dynamite
tax and financial service to chris the
tires and associates and this is when my
business model switched from trying to
work with a lot of 1040 clients to
working with very specific niche clients
in a few different industries and
working with high higher value clients
that i was able to charge thousands of
dollars a month to right
and so i tell you this like the name you
know you you just want to be able to
grow into your name right obviously i
wouldn't do something like krista's tax
service
why because you might want to offer
bookkeeping services next month or cfo
services right or payroll so you don't
want to box yourself in which is why i
typically recommend my clients to do
something like their first and last name
and associates or their last name
um and associate something like that you
don't have to do anything um fancy it
doesn't have to sound jazzy because
honestly at the end of the day people
are not going to work with you because
of the name of your company right
they're going to work with you because
of the value that you can provide them
and the value that you can communicate
okay so go ahead and choose a name um
that is simple easy and preferably just
some that's just probably your name and
associates right
and try not to box yourself in just
saying like chris is tax service now
once you get incorporated you do want to
open up your business bank account open
up a business
bank account
the reason why is because when you're
preparing taxes you're going to be
getting a lot of money okay blessed be
you're going to be getting a lot of
money so you want to be able to sync
your business bank account to your
third-party bank provider and we'll talk
about that in just a second so their
your third-party bank provider is going
to take your client fees from their
refund or your clients are going to be
paying upfront via quickbooks or square
or unboardable whatever system that
you're using to send your invoices out
and that money is going to be deposited
into your business bank account now at
this point you are a tax professional
so you should be
keeping your account separate right you
shouldn't be commingling your funds
right so you want to keep your personal
personally you want to keep your
business business this is why we set
this up so you're going to get your
business incorporated you're going to
get your ein
right
and your ein and you're going to open up
your business bank account okay now your
ethan and your p10 is simple simple
stuff so both of these are on irs.gov um
you need your p10 first right you need
your p10 first so i can go irs p10 i can
google search that it'll probably be the
first result for you it says p10
requirements for tax preparers we're
going to click on that and then you're
going to walk through these three steps
to get your p10 now the fee for this
year is 35.95 easy peasy you got that so
go ahead and walk through these steps
and get your piece in or if you already
have one go ahead and renew your pizza
right on this website now from there
then you want to apply for your ethan
okay so we're going to go and google not
google but we're going to um
type in the search bar ethan
and the first thing is become an
authorized e-file provider now it does
take about 45 days so if you literally
do this tomorrow because we're still in
november where tomorrow will be november
11
you would you should be able to get your
ethan in time for tax season right you
need your ethan before you can actually
get your tax software or actually file
taxes electronically so your ethan is
your electronic filing identification
number now there are three steps right
you have to create a e-services account
it's going to ask you about your
business if you're incorporated again if
you're not incorporated no worries just
put your name as a business name and
your social security number if they ask
you for like a social security number
ein
once you create your account you're
going to submit your application and you
are going to be fingerprinted you're
going to take um um you're going to go
to like your local
police station
or to a trained professional and you're
going to be fingerprinted you can order
the fingerprint card from the irs by
calling this number
right um it says if the trained
professional does not have a finger
print card form fd258 call the irs
e-help desk now most places that you go
to especially the police station they
should have their own fingerprint cards
that you can utilize so if you go to
your local police station tomorrow you
should be able to walk into
the you know the front office and ask to
be fingerprinted for the irs um it's
typically a small fee i think it's like
five or five or ten bucks they're gonna
go ahead and fingerprint you like
like they're about to put you in there
and then they're gonna give you the card
back and you're gonna take that and
you're gonna mail that to the irs right
you're gonna mail that to the irs to
this address
and that's it that's all you have to do
now is just a waiting game what the irs
is going to do is they're going to look
to see if you have any felony convention
convictions uh if you have any you know
just things that are on your background
that would prohibit you from um
being an e-file provider right so it
says they're going to do a credit check
a tax compliance check a criminal
background check and they're going to
check for non-uh prior non-compliance
with irs e-file requirements so as long
as you've been you know following your
taxes on time um and even if you oh
that's fine they just want to see that
you you aren't willfully
negligent right so if you're on a
payment plan
you're good to go but if you haven't
filed your taxes or if you owe them
money and you know you aren't on any
agreement or payment plan with them that
could prohibit you from actually getting
your event so you want to make sure
those issues are resolved now within 45
days is what the irs typically says that
it takes for them to do this which is
why you want to get this done as soon as
possible go to your nearest police
station and go ahead and get
fingerprinted um go ahead and complete
your e-services account and get that out
of the way as soon as possible
all right so now that you have your
ethan and your pizza in now we need to
get on to the nitty gritty is what my
grandmother would say right all right so
let's put this up here the nitty gritty
so what's the nitty gritty so first
things first is your tax software okay
i always get asked is krista what tax
software should i use what tax software
should i use and you know after a few
years of recommending various tax
softwares i typically tell people now to
demo
software right demo software so i'm
going to list off some common ones that
are pretty notable in the industry so
you have crosslinks you have my tax prep
office you have tax layer
you have drake
right these are the top four that most
people have
right one of these what i would
recommend to you is i will go to each
one of their websites and demo the
software the reason why is because
everyone's preferences are different
what one person like they're die-hard
drake fans right unfortunately i don't
care for drake's interface right i don't
care for how it looks in their workflows
but my there are a lot of my clients
that love love love love love drake
right they're a lot of my clients i love
tax lawyer my tax prep office crosslinks
like there's differences among everyone
i say what you want to look for i would
say the most important thing that you
want to look for nowadays is do they
provide you
the opportunity
to
do taxes on the cloud
that is the main
scenario that you want to look to the
reason why is because as you grow you
don't want to be you don't want to have
to just
um
do taxes on your one computer right you
want to be able to work with other
people you want to be able to hire tax
professionals to do taxes for you now if
they're on the cloud now i can have a
tax professional in florida and i'm in
michigan i can have that tax
professional in florida preparing taxes
on my behalf right or or within my tax
software if it's on the cloud or if
there's some configuration
where we can share this information so
this is my only stipulation that i will
recommend for you guys when you're going
for tax software a lot of these are
great options it's just this one
stipulation that you want to look out
for as you are growing now if it's just
going to be you this year this
stipulation you're not going to it's not
really going to matter for you if this
is going to be you preparing and filing
taxes but if you work with me and you
you're one of my clients you know that
we love to leverage other people's
talent and we like to
outsource a lot of our work right
because one thing that we don't want is
to you know trade a nine to five for a
nine to nine right where you don't have
any time for yourself and your business
because the business is depending on you
for everything for all of the services
so to eliminate that problem we
outsource right we hire tax
professionals very smart people we hire
bookkeepers we hire accountants and we
outsource work to them while still
remaining profitable right so this is
something i'm passionate about teaching
you guys so again this is my only
stipulation that i would ask them about
um so that you can see if this is
something that um you can utilize as you
grow as you start adding on different
tax professionals and bookkeepers um to
your team okay
so that's software now the next thing
that you want to look at is your
third-party bank
your third-party bank now if you are
doing individual taxes
right here here are the requirements
individual taxes
and you are allowing
your tax clients
to pay their tax fee
via their refund
you need to have a third-party bank okay
so what the third-party bank does and
you guys know look at me i swear i
cannot get enough of
a powerpoint so so here's what a third
party bank is going to do for you and
let me put my little arrow
okay so
this is your client over here right so
your client let's make this um
let's make your clients yellow so your
clients are yellow they're coming in
you're doing their taxes and the fee is
450
and you see that they're getting a 5 000
refund so what you can do by leveraging
a third-party bank is you can take this
450 tax fee right so let's put 450 tax
fee right here
let's make it darker so you guys can see
it
you can leverage this third party bank
to take this 450 tax fee from their
refund and deposit it
to you
all right deposit lord jesus to you
right 450
so let's make you
let's make you orange
the reason why you need this third party
is because the irs does not allow you to
put this directly into your account
that would be a no-no right you have to
use a third-party bank now who's a
third-party bank right who is a
third-party bank let's give you guys
some options below because that's
probably another question that people
ask me so you have refund advantage
you have santa barbara
bank
what's another one guys santa barbara
bank refund advantage
um and i think tpg might be one of them
if i'm not mistaken or tpg might have
been bought out by santa barbara i'm not
sure but the top two that i know about
is refund advantage in santa barbara
bank now
most all of the software's out here
right whether you go with one of these
four
they give you the functionality to link
your tax software to one of these banks
right and the syncing is very simple
it's a simple application you'll fill
out
and it's going to be synced to your tax
software right so as you are preparing
taxes you can ask your clients do you
want your tax fee to be taken out of
your refund now during this process they
do have required compliance training
that you must take because one you do
have to disclose the fees associated
with this right because you might be
charging 450 tax fee but the bank that
you're going through they're going to
charge their own fee right they don't
provide this service for free right so
it might be you know various fees that
might add up that's going to increase
the amount of money that is being taken
out of this person's refund so you have
to disclose that information up front
and you have to make sure that you give
your client options right give them the
option to pay up front to say hey you
can avoid paying this extra 90
if you pay this 450 upfront now of
course if your client doesn't have that
and they're okay with the extra fee you
disclose that to them then again you're
going to get your fee and the bank
they're going to take their fee okay um
you're going to have your clients sign
their bank um disclosures right
and um that that situation is going to
be processed so when this person gets
their refund
you're going to simultaneously be
deposited your fee into your bank
account by your third party bank so what
i want you to do is go ahead and look on
their websites right go to refund
advantage website go to santa barbara
bank website and look to see which one
is giving you the most perks right and
this is what you you want to look for
you want to look for
these perks and benefits
why do you want to look for that well
look at here these banks are getting
paid a lot of money to provide this
service right again they're charging
your client for every last one of these
bank products that your client is
getting
and they know that you know they
wouldn't be here without you right it's
a give give relationship right you need
them they need you vice versa but a lot
of these banks have different perks that
they give you like i know refund
advantage they used to have a beautiful
program they probably still have it
where they would give me a loan in
december
right so they will look at how much
money i made in a prior year and they
will loan me like three four five
thousand dollars um or more
to my account in december now if you're
a tax professional and taxes is kind of
what your money is banking off of that
helped me a lot my first two seasons
right to get that money in december i'm
not gonna lie it helped me a lot with
christmas too
like
my my events um helped pay for a lot of
christmases right back in the day so
that was a perk right i really valued
that perk now here's what they do
whatever they loan you let's just say
they loaned you three thousand dollars
in december
well they'll take that money out
um out of your tax preparation fees when
you start preparing taxes the next year
right so that's how they're gonna get
paid they're gonna take each one of
these 450s or 350s they're going to take
a percentage of it right they're not
going to take all of it they're going to
take a percentage of it until this
amount is repaid now this is amazing
right because most of you should be
making you know 50 000
plus during tax season so them taking
three or four grand is like light work
for you right
so this is what you want to look at you
want to look to see what are some perks
and benefits that these banks offer now
and which one is offering um you know
just a better package right better
benefits better perks okay
let me check in with you guys to see
what questions do you guys have so let
me pull up youtube and let me see what
questions you guys have
so we got jazzy
um alice
hey guys
so sergey says got my p10 and send all
my information for my ethan thanks to
allowing for your videos and except the
studying to become an ea awesome surgery
um
alice's is your course updated with info
for 2021 taxes so the enroll agent
course that is
they're still testing on 2020 until
february 28 2022 so we won't update the
enroll agent course until after february
2022
when they start testing for 2021 so ea
is a little bit different they are
behind but the information is similar
you still want to understand like what
are the updates for the year which
actually i might do a video on that for
you guys um sometime in december when
the irs starts to release those updates
i'll actually do a video for you guys
um
deandra says is that course going to be
60 off as well
um yeah so if you go to certifiable.com
and use the code thanksgiving you can
get all of the courses for sixty percent
off for um
for a pre-black friday sale
um jazzy says she likes drake awesome
vfs oh refundo yes refundo is a
third-party bank provider as well
republic bank is an option absolutely
um
dan tavia says is it too late to get
licensed to do taxes next year no it's
not too late to do taxes
absolutely
okay
so let's
go back to the training
okay
all right so what else do you guys need
so you got um you got your basics you
got your tax law knowledge you know how
to prepare taxes uh you got the nitty
gritty right you got your tax software
you got your third party bank
what else do you need from there so now
you need i would say
now you need to actually
understand your workflow and your
pricing
okay so workflow and pricing is what i
would tell you guys now the great part
about this is let me go to certifiable
because i just posted two new courses on
here for you guys that you can get for
free right for free because you know i'm
always trying to give you guys so much
value
so if you go to certifiable and you go
to free training
let's see if we can actually just go to
tax niche training courses and on the
third page
these two classes right here is what you
want you want the tax business virtual
foreign workflow and the tax prep
pricing master class right these two
classes um i go into detail on how to
price for tax preparation and then this
one i go i give you two great options on
how you can onboard clients virtually
right you see they already got five star
ratings i just literally posted these
less than a week and a half ago
so download these courses from
certifiable but let's talk about it
right now because i want to make sure i
answer all of your questions so in that
free class the virtual workflow class
that you're going to find on certifiable
this one right here tax business virtual
firm workflow i go over the freeway
which is not really that free it's like
12 bucks a month where you use google
drive right so you can use google
um as a way to onboard clients virtually
the caveat though
some of these tax softwares do allow you
to have
questionnaires like for instance my text
prep office they do have an online
questionnaire
that your clients can fill out when
they're onboarding themselves right
we're not on boarding themselves when
you have a new client you can send them
this online questionnaire and um that
information will be transferred to my
tax prep office right so keep in mind
that you can leverage your software to
help you with this process now the only
thing that i would recommend on
additional support is that it's really
going to be hard for you to keep track
with so many different moving components
so for instance if you have over i would
say 50 tax clients you need to start
implementing some other softwares to
help you manage your workflow the reason
why is because you don't want a tax
client to get lost right or to slip
through the cracks is what i should say
as people start sending in their
information
you want to have one location where they
are uploading their documents where
they're filling out their questionnaires
where you're communicating with them
right where you are managing your
workflow your due dates where you're
signing out tasks to yourself and to the
people that are going to be working for
you
when you start getting over 50 tax
clients it becomes a little cumbersome
to do this manually right like yeah you
can use excel spreadsheet you can rock
out with this google um option but at
some point you are going to need just
one whole system so i recommend
unborderable and we created this program
for you guys for this purpose right so
if you go to unboardable
what you can actually start doing now
right and let me actually log out
because i want to show you
the beginning of onboardable okay
so what you can do with onboardable is
manage all of your tax and bookkeeping
clients in one location right and it's
going to make you look good because
you're going to have this professional
portal that your clients can go through
a typical you know
concern that i hear from you guys is
well krista how is somebody supposed to
trust me
you know doing taxes virtually right how
are they supposed to trust me and i say
when you leverage systems in the correct
way it builds trust right so yeah if
you're just coming in there with your
excel spreadsheet um that might not
build a lot of trust with them but if
you're coming in there and you're
sending them to a secure portal and
you're saying hey here's your
questionnaire here's how you're going to
upload your files to us
that makes you look very professional
makes you look good as a tax
professional so we start leveraging
these systems one you want to keep up
with all of your due dates right so you
get a snapshot of all of the tax returns
or bookkeeping clients that you have
and then you have a way to keep track of
where you are in the process right so if
i go to this tax return right here for
this client i can go to my task and doc
management and i can see where i left
off at right so i completed her return
but i haven't reviewed the return for
all available credits and deductions and
i haven't reviewed the return for any
error errors or accuracy
so this is a great part because
sometimes when you're working from home
and you're working on the fly you're
just going to be working whenever you
can you want to be able to pick back up
where you left off or anyone and on your
team that you're working with can pick
back up and see where you left off at so
you can make sure like i said these
folks don't fall through the cracks so
now i know when i go back to this client
now i'm going to go back to my tax
software and i'm actually going to
review
her return i'm actually going to make
sure that all available credits were
claimed that she got all of the
deductions that she was entitled to and
i'm going to go ahead and check that off
as complete the other thing that i can
do is add in these very specific tasks
right there's going to be some clients
where
maybe you want to see if they were
garnished before you actually prepare
their taxes so you can actually add a
task right here to say check
if they owe debts
garnishment
and then we can put a due date on that
for like friday we can assign it to
myself or a team member and i can save
it so now i have a very specific
checklist for this client so this is
when you start leveraging software to
one make you look like a superstar to
organize everything and to
um keep track with all of your clients
that you have and their portal is going
to be very professional they're going to
be able to upload documents to you fill
out a questionnaire and so forth my
favorite part you guys know is the self
onboarding feature right so i can take
my invitation link right here and i can
post this on facebook right so let's go
to facebook i can post this on facebook
we are in black friday
for example so i can say um hey
internet fam
let's do this hey internet fam
oh now facebook is thinking hold on guys
i guess i'm moving too fast for them
come on
okay facebook
there we go all right so we can say hey
internet fam
um in
let's say in honor of
black friday
we are helping 10 small
business owners this would be even
better if you actually put niche like if
you actually said 10 real estate
investors like whatever niche that you
guys have
investors
get caught up
on their
bookkeeping for end of year for
just
a thousand dollars right um
sign up here
for free by friday
to
get started and then i can put my
invitation link
i also can
instead of just putting that invitation
link as the header i can come here
and i can add a gift to it so let's
actually add a gif
oh
let's see it's not gonna let me add a
gif on this side so let's do this let's
go
to
let's copy this let's actually go to my
page
and let's do it here
all right and now let's see if we can
well let me add a gift don't let me be
great
there we go okay add a gift so what
could we add as a gift um
let's type in happy
to see what we get as a happy
um
i don't think i like any of these
let's do money
okay let's do this one all right so it
says hey internet fam in honor of black
friday we are helping 10 small business
owners
we can specify real estate investors if
you want um and we can say get caught up
on their
bookkeeping for end of year for just a
thousand dollars sign up here for free
by friday to get started right i can
post this and as soon as they click on
my link it's going to take them to
onboard themselves and this is why i
love unboardable it's because i don't
need to know who is onboarding right i
don't need to know who's interested in
this offer right away i want to reach as
many people as possible with this post
okay now if you do this right and you
have a lot of business owners as friends
like right now i have 4
800 friends almost 5 000 friends a lot
of these folks are biz are small
business owners right a lot of these are
niche business owners and then on top of
that i have 3 000 people following me
you don't think that i can get at least
a couple of them to sign up for free to
get their bookkeeping cleanup done for
the year right so this is the beauty
about unboardable they click on that and
they register for your firm when they
get down here they can select the
services that they need now all the
clients that you're going to get now
until the end of the year these are now
going to be tax clients right these 10
people that sign up are now going to be
10 business tax clients in 2020
too right so this is how you want to use
on board what you want to you want to
email this link you want to text people
this link
during tax season you want to do the
same thing so you can say hey internet
fam
um
um
it's january and tax season is here
we are running a special
get your taxes prepared
for
i don't know we can say 250
off by
friday
sign
up here for free
to get started
and then again you're gonna put your
link out so this is why i love this link
is because it actually helps you get
more clients right you can use this link
as a marketing strategy okay now once
they're in here you're going to see all
these people that are signing up on your
side so you can reach out to them you
can start the onboarding process start
sending over um items that you need from
them to get started they can start
uploading their documents and so forth
okay so this is what i would recommend
for you guys to go ahead and start
leveraging a system that you can use all
year round like the tax software is cool
yeah the some of these tax software's
allow you to do this not the way the
unboardable does and the only reason why
i would still recommend that you do
something like an unboardable is because
you you want to think about all year
round right a lot of you if especially
if you're working with me you know we
don't just do taxes right we like to
incorporate bookkeeping for that monthly
income cfo services for that high value
income tax resolution tax planning so
you can use the same system for all of
your client types right you don't have
to use all these different one-off
systems okay
all right so what else do you need so
now we need to talk about pricing right
so let's talk about tax pricing so first
things first we charge
based upon the complexity
of the tax return
so what does that mean so we charge
based upon each form
so for instance form 1040 will charge
150 for that we have um form w-2 we'll
charge let's just say 25 for that we
have schedule c we'll charge um 500 for
that we have schedule e right and so
forth so what you want to do is you want
to take a listing of all of the forms
that your tax software has and most of
your tax software has this already in
your system they already have a listing
of all the forms and you can put a fee
associated with that form right it'll
take you probably maybe 20 30 minutes to
set this up within your tax software but
the beautiful part is that you're able
to
um prepare taxes and all of these forms
that you're going to be populating are
automatically going to start adding
together and adding up this is what you
want one you don't want to guess
people's tax return fees right i used to
do that people you know they'll come in
they'll get their taxes done and i'll be
like
185 right now the reason why this is
wrong right if we just charge this flat
fee of 185 we're just bringing it off
the top of our head
one it might not be fair to them
right so for example
if we just have a um a retiree right a
senior citizen that is coming up on
their taxes because they want to get a
state refundable credit that they
qualify for well charging on 185 might
not be an alignment right to that
particular person's complexity right so
it actually might be more money than
what they need to be paying based upon
their actual complexity
number two it's not fair to you right so
now we can switch that scenario you
actually might have a client that has
all of these forms and all of these
schedules and you only charge them 185
dollars well now it's not fair to you
now you're actually losing money so we
don't just charge a flat fee and we
don't just pull numbers out of the air
we actually want to have a methodology
right we actually want to have each form
in each schedule and have an associated
price attached to that now you can
always give discounts right so f at the
end this added up to
what um 11.75 well if you think that
that's a little high for this type of
client then discount them right i rather
you say hey i gave you a discount of 500
than them thinking that your fee was
just what it was right it always is
gonna look better when they think that
they actually got um a deal from you
right so now their fee goes to let's
just say 675 and you're gonna say
um i gave you a discount of 500
for um for this year that's going to
look good for you they're like oh man
you know my tax pro they did all this
work and it gave me a discount that's
used at your discretion right not
everyone you won't need to do this for
but it might be situations where you
want to use your discretion and give a
discount always give the discount and
let people know that you gave them a
discount rather than just telling them
what the fee is let people know what
you're doing for them so they know
um that they're special right and that
you're actually giving them some sort of
concessions so this is how you want to
do your tax pricing right this is how
you actually want to price um perform
now um in this course that we have for
free on certifiable i actually give you
the excel spreadsheet right in here that
you can use to price perform so go ahead
and download this um for free so you can
get that excel spreadsheet so you can
see
all of the forms and how much we
actually charge for them okay
all right so what else do you guys need
to start and be successful huh what else
so let me go back to my presentation so
we learned taxes we got our tax software
we got our third-party bank we got our
workflow and our pricing together
man we are rocking and rolling now we
need some clients right
[Laughter]
we need some clients okay so let's talk
about this let's talk about marketing i
already gave you a few marketing ideas
listen if you don't take these ideas i'm
telling you they work um deploy them in
your business but let's talk about some
other marketing strategies right so
first things first you want to leverage
your existing database
okay
what does this mean well listen you have
colleagues
right you have
um friends
you have
you know um
school right both university
and um
high school
right you have all of these different
types of people that you know or that
you used to know so we can say past and
current
so i always tell clients you have at
least 100 000
in income just with the people that you
know right so for instance let's go to
facebook right now
all right so i'm going to facebook i'm
going to go to my friends list
right here
and now i see all of these 4
800 people but the great part about
facebook is that they break out your
folks that you know so i can see college
high school followers and following so
let's go to college
what i want you guys to do is reach out
to all of these people right so we got
afton lindsey ebony adrian right the
list goes on and on all these people
that i used to go to school with i want
to reach out to all of them it's
probably maybe a hundred people or maybe
75 people just in this list that we used
to go to the same college then i'm gonna
do high school right this list is
probably even bigger because i went to
like four different high schools in my
life so look at look at all this right
and these are not just some regular you
know people like these people have
businesses they have careers right they
need you at the end of the day they need
you
i can go to people that have birthdays
coming up right so you there's a few
different ways that you that you can
mind your existing list of friends right
especially if you have a few thousand
people on your friend's list like you
can there's there's gold here of people
that you actually know
um or that they know you right or that
you encountered at some point in your
life
so first things first is just reaching
out to them right reaching out to all
these folks and letting them know how
you can help letting them know that you
started your tax and bookkeeping
business or you're scaling it right if
you've already been in business again if
you do this right you should have at
least a hundred thousand dollars in
revenue
just with people
you know
or new right uh just because you don't
talk to them now doesn't mean that you
can't spark up and re-ignite that
relationship now right because again
you're already friends about you're
already friends with them okay so that's
first things first i think you should be
able to get your first um or add an
additional 50 to 100 tax clients
just with this list okay
now the second way that we get clients
is we go after niche clients right you
guys hear me talk about this all the
time
so you want to think about like what
niche do you want to go after right what
niche do you want to go after so for me
if you guys go to
my page you know that i used to be in
real estate and
truck drivers used to be my niche and
actually i still have my old page up
so if we go to my old page
for the truckers right i still have this
page up i actually have to take it down
right
but i just thought today that somebody
commented on this page like recently
right so i can go right here 17 hours
ago this street asked me are you still
in business right this is a potential
client that's on my page right now and i
haven't posted on this page in years but
because i still have content up they
still find and discover this page so
this is what you want to do you want to
have a niche you want to have an
industry that you specialize in now i
typically tell people you know think
about industries that you already know
about right like what are some
industries that you have already been
exposed to
maybe
you know maybe you have a husband or a
wife that's in a particular industry or
family or a best friend or close you
know just people that are close to you
that are in particular industries will
it will behoove you to look at those
industries as a possible niche to
actually specialize in
if you can't find anything that is
already around you then you want to
specialize in an industry that you're
passionate about okay so i went from
trucking to actually
real estate right and that was my niche
real estate agents and brokers and
investors became my niche right um after
i had made trucking my niche so you want
to find something that
you know about
or
that you are passionate in
okay
once you do that now we can maximize our
marketing strategies right so again my
course tax and accounting six figure
accelerator is
60 off using the code thanksgiving right
if you go to certifiable but here's what
you actually get i actually show you
step by step our facebook marketing
strategy right so this is the course
right here this is how it looks on the
inside
so i'm gonna go to our marketing section
and let's look at getting clients with
okay i actually have a training video
let me log back in
i actually have a training video just
specifically going over facebook
marketing and how we get clients you
utilizing facebook
okay getting clients with facebook boom
so it's a training video that walks you
through step by step right and it talks
about first we talk about like the old
way right the old way that i used to do
marketing is you know flyers and
billboards and television and the reason
why that doesn't work is because it's no
personalization
you can't build a relationship with
someone right through a flyer
there's no way to keep the connection
right because once they have the flyer
there's the connection there's no
connection right there there's no way
for you to build up know like and trust
the beautiful part about social media is
that you can do
all your marketing organically right you
don't have to pay for facebook ads or
google ads or instagram ads to get
clients
we can do this marketing organically
right on facebook on social media that's
going to allow you to be personal right
it's going to allow you to build
relationships right because people want
to do business with people that they
know like and trust
right at the end of the day they want to
do business with people that they know
like and trust right so we go through
all of the different strategies for you
in this training video right you see i
love my powerpoint presentations and i
show you how we actually connect with
people on facebook right what what do we
say when we connect with them on
facebook how do we do our outreach how
do we get them on a paid strategy
session when we get them on a paid
strategy session what do we say right
how do we go about our conversations
walking them through for a tax client or
how do we go about our conversations
when we're trying to
onboard them for bookkeeping
all of that is in this course right
where i go through not only attracting
the clients but once you actually get
the client what do you say to get them
on the phone your pricing associated as
well as your workflow and your
onboarding right everything from start
to finish now as you see we go over all
the platforms right facebook linkedin
instagram right how to optimize your
instagram page getting clients with
google tax resolution clients clients
that make over a million dollars lateral
partners this right here i tell my folks
is like a million dollar strategy right
just leveraging other lateral
partnerships and then how to follow up
because let's be honest you know how
many of you guys have let certain
prospects fall through the cracks
because you didn't follow up with them
right so we do what's called a follow-up
friday
in my program where every friday i tell
you to follow up with everyone follow
with people that owe you money right
they said they were going to pay you but
they haven't or people that that have
open invoices that haven't paid yet
follow with people that you booked an
appointment with and they haven't
onboarded as a client right follow
people that you're still waiting on
documents from friday is where we just
reach back out to everybody and we
resolve any pending you know items or
monies that is due for us
now when you think about you know the
hunting strategy so all of these
strategies are hunting right hunting
means i'm gonna go out on social media
and i'm going to reach out to my ideal
clients right it doesn't matter if
you're on facebook instagram i'm finally
on tick tock so i'll let you guys know
we'll we'll have a training probably
sometime next year on how to use tick
tock to get clients right because i'm on
there now we're testing out how to
actually get clients from tick tock
um but as you see like i'm always
looking at the next platform right we're
looking at different ways we don't you
know talk about antiquated ways of
marketing anymore right we don't just
tell you to go get a business card and
pass it out at your local bni group
right like we talk about activities that
you literally can't do today and see
results from immediately right get
results from over the next few days
literally the marketing strategies that
i teach we can literally book um
strategy sessions with people
this week right using the marketing
strategies that i teach you guys in my
program
all right so
once you do that you do your hunting now
we have to do our farming activities
right so let me go back to the course
now in module 7 we talk about farming
right what is farming well farming is
exactly what i'm doing right now i am
shooting video content so i show you how
to become a niche celebrity right and
get clients to come to you i'll show you
how to create content that converts
right like how like what do you say on
your videos how do you structure a video
you know that this is important the
beautiful part about videos that it's an
asset right it lives on forever on the
on the internet and at all times a day
people are watching your asset they're
watching your content so we go over in
detail how to shoot this content right
how to get clients with youtube how to
post your content right we give you a
whole social media marketing master
class we teach you how to use canva
right if you're not you know a graphic
designer like most of us aren't canva is
a beautiful way to create some very good
marketing material that looks good right
in less than a few minutes but you have
to learn how to position yourself online
for success
right for success and so we teach you
that how we teach you how to do that in
my program now now you know marketing
right we talked about hunting
and we talked about farming
what else do you need at this point
you should be able utilizing all of this
of what i showed you in 2022 there
should be no reason why you can make
an additional 50 000 plus
just in tax season right this is just
tax season money okay
what we like to do is we like to talk
about what happens after tax season
right we don't want you guys to just hit
it really hard in the beginning of the
year and that's it and just and be on a
struggle bus for the rest of the year
like i used to be right i used to be on
a struggle bus after july
i was practically broke right my taxi
somebody used to go fast
and i'm not ashamed to admit that okay
because i know it's gonna help you guys
not make the same mistake that i made
right so i'm okay putting out my
failures failures out there to you guys
because i don't want you guys to have to
go through what i went through so here's
what i want you to do after tax season
in 2022 i want you to focus on
bringing in monthly income now some
people think they have to go start new
entrepreneurial journeys you don't you
don't have to start a new business to
bring in monthly income that is a
negative what i want you to do is just
offer
a complimentary service to your tax
business
right so what are that that's
bookkeeping that i already talked about
cfo services
right what else we have tax resolution
beautiful
what else do we have we have tax
planning
right
now i can't wait we're going to be
launching um we're going to be helping
you guys learn capital
consulting
helping people get loans
and you can also do business credit
we're going to be teaching you guys that
pretty soon which i'm excited about
business credit
building okay
so these are just additional services
that are complementary within your
business so no you don't need to
go and start being into real estate or
being on turo or
you know doing uber or anything like
that okay you can make multi-six figures
in your tax and bookkeeping business by
offering additional ancillary services
okay bookkeeping you only need about 10
to 20 of these folks paying you
you know a thousand dollars right
a month
right that's 10 000
to 20 000 a month
you can do this you can get 10 to 20
niche clients guys
right especially if you focus on the
business what this client do you want to
go after like i said i was in truck
driving i was in real estate
um you can get 10 to 20 people that are
making a half of a million dollars or
more to pay you a thousand dollars a
month and this is on the low end
okay for for bookkeeping that's ten to
twenty thousand dollars a year now we're
not even talking about all these other
services okay so if you have a boutique
this is what i call a boutique
tax and accounting firm let me put this
on here for you a boutique
tax and accounting firm
is ultimately the goal that you want to
strive to and you want to strive to get
to at least 500 000 a year
you can do that stacking your services
like this right bringing in these
monthly recurring products or service
offerings for instance cfo services you
can start off that 2500 a month
guys this is on the low end this is
this is cheap for people that have the
money and that that already see the
value in cfo services right so again
let's just say you get five of these
folks
well how much is that per month
that's twelve thousand
five hundred dollars
per month
how much is that over a year
that's a hundred and fifty thousand
dollars in a year
and that's just with 12
i'm sorry five clients
you guys see this like we don't need a
lot of people to be making a half of a
million dollars right
so let's put this on here 20 22 i want
you guys to work towards a half of a
million dollars in income
how does that sound for you guys are you
okay does that make you nervous are you
like krista how in the world right
because listen if you go for a half of a
million and you fall short of that i
guarantee you you're still going to be
happy right so if you shoot for a half
of a million and you end up at 150 that
was still a great year for you
you know 150 000 dollars as you see is
twelve thousand five hundred dollars a
month
that's
rich for most people in america
like you can afford a nice house a nice
car
right vacations
this is this is rich for most people
150k plus okay but let's shoot for a
half of a million that way if we fall
short we're still happy right we still
made over ten thousand dollars plus per
month and you can do that guys just by
stacking your services you don't need to
have you know a thousand clients and
that's how how we used to do it in a day
so let me show you the oa
the old way
you used to get a thousand a thousand
tax clients
to pay you three hundred dollars
how much is that guys
that's three hundred thousand dollars
okay
three hundred what do you think is
easier
okay to get 10 people
10 business owners
to pay to pay you 2500 a month
that make over a half a million dollars
in revenue 10. you only need 10 to make
300 000.
or is it easier to get a thousand tax
clients to pay you three hundred dollars
right
to make that same amount of money now we
also need to see like what is it gonna
take for you to do that right so
let's just
show you what that workload looks like
okay
so we got 10 people over here
10 clients over here
that you are able to provide a wow
customer experience to why because you
have the time
energy and effort to do so versus a
thousand clients on this side
now a secret that i had to learn the
hard way is that the same energy it
takes to get a thousand clients is the
same energy to take you to get 10
clients like you're still going to be
doing your hunting on facebook you're
still going to be doing your video right
and distributing everything you're going
to be doing the same activities why not
go for the more highly leveraged
activity now cfo services might be
intimidating for you no worries let's
just focus on bookkeeping right again we
only need 10 clients to make 10k a month
right again 10 clients
the same energy is going to take you to
get those 10 it's going to take you to
get all these folks but now you need
more infrastructure for this right in
order to get 10 clients in now you need
you know support
right you need tax professionals
right what else do you need you're gonna
need customer support for this right
because trust me a thousand people
hitting you up is not fun
uh when they have a question about their
tax return right so you're gonna need
customer
support right you're gonna need email
support okay
um your infrastructure costs are going
to drastically increase
because now you have all of these people
that you have to service
okay so
try to stack your services and try to
offer
um a suite of services and really turn
to a boutique tax and accounting firm
and i really would love to see a lot of
you guys reach towards a half of a
million dollars like i said if you fall
short if you fall at 150 that was still
a good year if you fall at 250 that was
still a good year heck if you fall at
100k
that was still a good year but you want
to do it by going after the half of a
million because your energy level is
just going to be different right trying
to reach a half of a million rather than
going after your true goal of 100 or 250
or so forth
all right guys this has been bomb i'm
really excited for you guys i'm always
excited coming on here doing trainings
for you guys let me see what questions
you guys have let's see
um
let's see definitely all my clients love
that i have onboarding system and not
using emails for their sensitive
information absolutely nora
um alice says how do you check for
garnishments great question alex so
here's what you want to do you want to
google irs offset
number okay
and this is the number right here 1 800
304 3107 so you can gain consent you
want to gain consent from your client to
check for any garnishments a lot of
people don't know about this right a lot
of people can check to see if they owe
child support student loans um any state
garnishments because listen one of the
worst things that happened to people
is they're expecting this refund check
that never comes and you're expecting to
get paid and you never do
because this person owes child support
or they owe um
um a student loan right so you
definitely want to check this number
first it's an automated system right so
let me just call the number right now so
you guys
can hear what it sounds like
1-800-304-3107
okay
let's see
if you're calling about whether you'll
receive an economic impact payment for
updated information about how to receive
an economic impact payment please go to
the irs.gov
forward slash coronavirus please press 7
to
continue thank you for calling the
treasury offset program call center
please be prepared to write down
important information this call may be
monitored or recorded
our options have recently changed
please listen carefully before making a
selection
for english press one
if you're calling to find out whether
your tax refund or any other type of
federal or state payment has been or
will be offset press one
if you have other
the treasury offset program reduces
payments to collect a variety of debts
okay so after that statement she would
ask me for the social security number
right you're gonna put in your client
social security number go ahead and try
it on yourself tonight and see if you
have any offsets on your own social
security number that uh you might need
to know about
okay
but it's going to ask you to put in your
social security number
or your clients and then it's going to
make sure that you have consent so it's
going to say hey if you don't have
consent this is a federal fine right
it's illegal to pull up anyone else's
offset information so you definitely
don't want to do that because they
record all of those entries right they
were recording where your phone where
your phone call is your number that
you're calling from or whatever so you
want to make sure that you ask your
clients permission before you call to
say hey um a part of your service that
you get complimentary is that we call on
your behalf to the irs to see if you owe
any garnishments any child support any
student loans or any um thing that might
offset your
um refund do i have your permission to
do so they're going to say yes because
they want to know
if they're going to be garnished you're
going to call this number it literally
only takes no more than three or four
minutes um to go through that process
put in a social security number and then
it is say either
no offsets found right that's how you
know your client doesn't have anything
right now that's going to garnish them
or it is say we see a debt for student
loan services for twenty thousand
dollars right um it'll tell you um who
is that who exactly has an interest
in your client's refund so use that
number
that was a great question alice jazzy
says she's going to be purchasing this
six figure silver this month yeah use
discount code thanksgiving guys so you
can go ahead and get that um sixty
percent off for our pre black friday
sale
um so let's see
google peter and ethan yes so i went
earlier if you missed it i actually went
through how to get your p10 and your
ether so i'm definitely going to have
this posted on youtube so you can go
back and watch like where i said that
you can get your pizza in your ethan
awesome guys anthony said he just opened
up his office last month awesome
congratulations that's exciting
um
christian says that those are high
numbers the maximum to charge is fifty
dollars if they're a business owner they
pay a hundred dollars oh no no no no
those are too much i mean that's too
little christian so
and so here's the beautiful part guys
about running a um virtual tax business
is that i'm in michigan but i have
clients all over the country i have
clients all over the united states okay
so
your area might only can support
a particular taxi
okay but that does not mean that you
should charge that right for a business
return we would never charge a hundred
dollars or anything less than like 750
right is like the lowest lowest we would
go but like i said we start at one
thousand dollars for corporate returns
and again you're getting business
clients from all over the united states
so now that i'm in michigan my little
town that i'm in i don't have if they
think my fees are too high i don't have
to work with them right because i'm
working virtually anyway so i can get
clients in new york right where paying a
value price tax fee is not uncommon for
them right they're used to paying
for value right i can get clients in
california also i can get clients that
can afford to pay me these amounts
because their business needs it right at
points in your business where you're
making over half of a million dollars
especially when you're making over a
million
you
value paying for quality
services right especially when it comes
to your finances you pay for a quality
bookkeeper quality cfo a quality
tax professional or cpa or ea or tax
attorney right
these folks are not going to flinch i
when you say a thousand dollars for
their c corp they're probably going to
be like is that it
they're probably going to be concerned
that that's all you're charging them to
do their taxes or they're going to be
thinking about it like dana is cheap so
i want you guys to you know shift over
to the business perspective businesses
value paying for quality service
especially when you are helping them
save and make more money right so we go
from just being a data entry person
right just taking the w-2 plugging that
into our system to actually seeing you
know what are the
deductions that this client can take
advantage of that's going to help them
reduce their liability you know what are
the credits are available that they
might not know about that they can
leverage right what um depreciation or
amortization strategies can we leverage
to make sure that we help them
effectively reduce their tax rate right
what are some
other
tax planning and um high level tax
strategies that we can help them
implement such as you know fringe
benefits and retirement plans um i mean
there's so many different strategies
that you can help them effectively
reduce your tax rate when you do that
when you have the tax law and knowledge
to do that you're going to want to
charge your worth right you're going to
want to charge your value and you're not
going to want to go through all those
strategies for 100 it's not gonna be
worth it for you at that point your
expertise is going to be so much more
worth than what um
you know those folks that you're used to
working with and what they're going to
be willing to pay so now we just have to
go after a different type of client okay
so i would say don't worry about the
people in your
five mile to 10 mile radius those
probably are not your clients anyway at
least not all of them you want to go
after a niche client you want to
increase your skills
and you want to make sure that you
charge niche
value pricing okay
um all right so you put okay so yeah in
the small towns running individuals pay
150 200 h r charges over 300. h r
doesn't play with their fee let me tell
you their their individual returns get
up to 500 bucks
so
if you're saying that a business is
gonna bucket you for charging a hundred
dollars then that's definitely not your
client
because h r block and those franchises
they have like
this is all they do throughout the year
so they have to make like their business
model is high volume right
and mid to your pricing
um you want to go for
low volume
high value pricing so now you're not
competing for
all everybody you're competing or you're
getting
10 you know
to 50 clients and you're making multiple
six figures
all right um
does your tax accelerated program come
with tax software no so it doesn't come
with the tax software but again like i
tell you guys it's so many options on
the market right now you can't go wrong
with one of those um just demo it before
you actually buy it because you want to
make sure that you like the software you
know you want to make sure that you like
the interface
yeah
dantavia says she's in la and they pay a
lot they do
she says we pay as long as the numbers
are right absolutely
jazzy said that daylight savings snuck
in real quick right it was light when i
started this now it's pitch black and
it's only 6 20.
um hey alice yeah alex said she caught
me live
christian says do you have an ea course
yes so um just real quick before we hop
off um again we do have a great special
for you guys where you can get um a
chance to work with me for 60 off so if
you've been on a fence if you feel like
krista your program is a little pricey
it's 60 off for pre black friday for
thanksgiving
so what you guys can do you want to go
to certifiable.com let me actually log
out of certifiable
you want to go to certifiable.com
right here and then you want to go to
tax training courses
and one
the program that i have is on page looks
like it's on page two right now
so you go to tax accounting six figure
accelerator this is my main program you
can choose a payment option so remember
you're gonna get sixty percent off so
you can do three pay of 695 or six pay
of 395. so let's just say you do a three
pay we add that to the cart
and then what you want to do is when you
get to your cart you want to type in
code thanksgiving
okay so let's type in coupon code
thanksgiving and then we're going to hit
apply
and then bam it took you down to 278.
so this is going to be what you're going
to pay three payments of 278
for the course right and then of course
you can get another payment plan option
or you can just pay in full i mean you
know you don't have to pay any extra
money for that now the ea course again
so let's go to
become an enrolled agent
and i would recommend the gold series
because that comes with the weekly live
call with me so every week you get to
actually come on zone with me and we i
answer any questions that you have about
the ea material it's a really great time
for you to actually just dig deeper into
the content
and to hear what other people's
questions are right so if you add this
to the cart
um you can get that same coupon code so
we can use thanksgiving
and then apply that and now you get this
whole bundle for dish 158 right um you
get all three training courses with the
books
with the weekly cause for an entire year
for just 158 if you use cold
thanksgiving so that's all of you that
want to go after ea and i think it's a
beautiful
um thing to do because like i said you
just you get so much more knowledge when
you go after your ea right so you're
gonna get three books you're gonna get
the individual
ea book
you're gonna get the
business ea book
and you're gonna get the representation
book which
i think
it's
okay i'll probably put it somewhere else
but you're gonna get the third book
which is the representation book um and
so you're gonna get all three books to
come in the mail shipped to you that you
can use it's either really compact right
if you look at the size of my head this
is i mean i got a big head but
it's not one of those big books that you
normally see people get when they're
going after the ea they fit into your
purse right you can pop these into your
purse carry with them um carry them on
the go
all right great questions guys so let's
see
um should i get a p 10 and ethan number
before i buy your program sure yeah
because i mean you could yeah um it only
takes a few
minutes to grab your ethan and your p10
yeah only takes a few minutes
nick says what software do you recommend
for tax planning so nick i really don't
recommend a software um
because tax planning i mean
it's
it's something that you can do
manually honestly until you get to a
point where you can really leverage
software you know where it actually
makes sense so for instance let me go
here so tax planning let's look at that
so if we're looking at
uh let's just say
um a business
we're going to be looking at tax credits
when it comes to tax landing what all
available tax credits do they qualify
for we're going to be looking at
deductions
right so what what goes into deductions
you're going to be looking at like what
do they expense out
you're going to be looking at
depreciation
you're going to be looking at
amortization
okay
and then we can look to see entity
election
are they in the right entity right so
you know depending on what they are
should they be a c corp should they be
an s corp should they be a partnership
um should they stay a disregarded entity
which is a schedule c you can run
calculations based upon their entity to
see if they are in fact in the right
entity right
from there we can look at um you know
depending on how many employees they
have we can look at fringe benefits
right because they get a deduction for
this
and on top of that they get to retain
you know talent
we can look at retirement plans as a
strategy
right they get a deduction and in some
cases they might get a credit
okay
so there are a few different ways so
what i would do is i would you know take
these basics and just with these basics
you can potentially save people a lot of
money just looking at you know credits
um deductions right um
entity election
and then looking at these types of
strategies that could help them
effectively reduce
their
taxes now the more specific you get also
the better you're going to be able to
help your clients because there might be
certain credits for instance if we have
a tech company
that might be able to qualify for versus
a real estate investor okay
so when you have very specific niche
clients you can look at very specific um
credits and deductions that they might
be able to qualify for that can help
them reduce their taxes
i would do this manually for
several clients before you think about
software because honestly um this is
going to be much more profitable for you
and much more um detail if you actually
go through it and just pop this on excel
spreadsheet right pop it on the excel
spreadsheet and actually go through and
see where you can save the money
and then
if you start to really offer tax
planning as a service then i will look
at maybe some softwares that can help
you just move faster but at the end of
the day you want to make sure you truly
understand like how you're helping
people save money how the tax law
applies to help people save money
and then
leverage software in the future as you
grow but i don't have any specific
recommendations right now um
but
i will look into some for you for sure
i'll look into some for you guys
in the future
all right so let's see
said that's amazing what a deal for 60
percent off who will yes i'll be
purchasing this month
so the deal ends on
black friday actually i'm sorry it's on
cyber monday so the deal is good until
cyber monday
that's when we're closing down the 60
coupon
christian says so i will be able to go
to ea test after i finish the course
with you absolutely so um
once you actually pass the course um
that you know
you can pass the course but once you
actually go through the course um you're
going to schedule your exam with
prometric okay um it is a fee when you
go to schedule your exam with prometric
so the fee is 185 per exam just so you
know so you're going to pay 185 to test
for individual 185 to test for
business and 185 to test for
representation
once you do that
every time you take a test immediately
after they're going to show you
your pass or fail it's going to be right
there on your screen
so it's going to show you if you pass or
if it's going to or it's going to show
you if you fail right and when you um
pass or fail it's going to give you a
notice on what you need to approve upon
right so let me actually go through
my instagram so on my instagram i have
all of my client results so if you guys
want to look to see some client actual
results come here to ig but i have my ea
student results on here too so if you go
to ea students you will see all the
students that are now in my course um
they're passed
right that they pass but let me show you
what it actually looks like let me see
if i can find someone's
score report
let's see
i might have blocked yeah i've been
blocking out their actual
domain scores
but no worries so
at the end of it if you can kind of see
right there it it tells you where
you um what domain like your level of
proficiency that's what they call it the
level of proficiency that you pass that
part of the exam on so they want to see
a two or higher level of proficiency so
they have three levels of proficiency
one means you need you need a lot more
improvement in that area
two means you're okay right you know
enough but you still probably should go
back and review and three means you are
proficient in that area of tax law right
oh so here it goes this is what it looks
like so you guys can see this for part
one this person got a three in
preliminary work in taxpayer data that's
the highest so they they have a strong
understanding about what's required when
you first get a client um she got a two
on incoming assets a two on deductions
and credits a two on taxation
a three on advising the individual
taxpayer and a two on specialized return
so she actually did really good on this
exam right
as you see she says second time is a
charm sometimes you do miss the first
one right um about 40
of the people that take the exam do not
pass on the first time and that's just
the way it is right it's
you know some people just got different
testing
um
um the ways that they test right where
40 typically don't pass um and so a
second time it's not a death sentence
but sometimes it's necessary for you to
go ahead and pass with flying colors
but yes we give you everything that you
need to take the exam for that testing
period
great questions guys
oh jazzy said yeah she passed uh she
missed it by eight points yeah sometimes
one of my clients told me this um
i think when we were in atlanta she said
hey chris i took the exam and i passed
by like one or two points and she was
just like i know it's my fault because
she said she
got discouraged after the first part
right so the test is broken out into two
different parts it's like part one is 50
questions part two is 50 questions so
each exam is going to be 100 questions
she said she got a little discouraged in
part one so when she got to part two she
was just clicking on things she was just
like you know just
you know just um answering the questions
just on the fly right
the the crazy part was that she only
failed by a few points which means and
she said this she said had i not got
discouraged and not just flown through
it and actually just still took my time
she would have passed right so i say
that to say you know uh when you're
taking the exam don't get discouraged
you know keep an open mind do the best
that you can make sure that you're
reading the question right because they
will um throw in words like accept which
means that you have to choose the wrong
answer and not the right answer right
because we're used to when we're taking
an exam
we're used to choosing the right answer
a lot of these questions are asking you
to choose the wrong answer right which
is a different side of your brain that
you have to use you have to use more of
your left brain your analytical brain to
really under you know to choose the
wrong answer so that can trip people up
um and so just doing that just taking
your time and understanding what types
of questions is asking you about is
going to help prepare you to pass it
right um
and get that that passing score the
passing score is 105. but they don't
tell you what you got wrong which does
suck right because you want to know like
what answers you got wrong especially if
you want to review them even if you did
pass like you know i still want to know
like what exact answers i got wrong now
they'll tell you
um
they'll tell you the domain that you
need to brush up on right so they'll say
advising the taxpayer so now you have to
go back to the whole advising the
taxpayer domain and brush up on that
part right
even though you might have only missed a
few questions in that domain
um alice says how long does it take to
become an ea um it only takes like 60
days honestly 60 to 90 days some people
can do it quicker than that and other
people
you know they need the whole 90 days but
i tell people give yourself at least
four weeks for each part
so
about 60 to 90 days for each part
um should be enough time for most of you
and you need about an hour a day of
study time like an hour a day of you
either reading the book
or a combination of going through the
course and reading the book
[Laughter]
jazzy says choose c if you're not sure
i don't know how true that is jazzy but
um
it sounds good it sounds good she says
you see if you're not sure of the
question
yeah
all right guys well i'm excited for you
i cannot wait to work with a lot of you
whether you're going to be in the ea or
whether you're going to join my
marketing program or both um but i can't
wait to work with you and support you if
you guys have any questions
after this video ends go ahead and drop
them in the comments below i'll be sure
to go back and check all the comments um
you can get 60 off all of my courses um
until cyber monday okay using cold
thanksgiving thanksgiving because i want
to thank you guys for
just being such amazing clients and a
community over the past couple of years
so
thank you guys i love you and i'll see
you in the next training video