Maybe It’s Time For a Change

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changeEver have one of those business lessons that you just don’t seem to get? And it keeps getting more and more painful until you can’t ignore it anymore. If you’ve been in business for any length of time, I know you know what I’m talking about.

For me the lesson is that some people don’t want anything more. For some people, it’s better to keep getting the same poor results then it is to feel even the tiniest bit uncomfortable.

Today is a rant about something happened in my business. And it’s not the first time that I’ve had this complaint, but it IS the first time that the lesson was painful enough to do something about it.

First a little background:

I really like doing tax planning and strategy work. There are really three phases in my approach to tax work:

  1. Strategize,
  2. Implement, and
  3. Report.

For a long time, I tried to do just #1 – strategy. That’s what I really like to do and that’s where I get the best results. I’ve been able to work with some of the richest and most successful people in the US. And I’ve learned a trick or two.

I know how to set people up to pay the least amount of tax legally possible. In fact, I can pretty much take just about anybody to 5% or so in taxes, but you have to weigh the legal and accounting cost to get there. If it costs you $30,000 and all you pay is $30,000 in taxes in the beginning, there is no win. But if you take your taxes from $100,000 to $15,000 and it only costs you $10,000 (net gain of $75,000), then that IS a win.

So that leads to the first issue, and this is where the problem starts.

I don’t want to just sell someone something that isn’t a good fit. It’s not just about making a sale and moving on. We want relationships with our clients. We want to see you through the maze of tax changes coming your way, over time and as your business grows, recedes and changes. We’re in it for the long haul.

I know that everyone wants to legally pay 0-5% tax. But it’s not the right deal for everyone. For example, maybe it’s better for you to reduce your taxes by $5,000 or so with a cost of about $1,000. You’re getting $4,000 back this year, and $5,000 or more back every year. The full-blown plan isn’t necessary for you.

I need to do a review of your tax situation to see what the best plan is for you.

But I don’t just glance at your return. Each review that I personally do takes me 1-2 hours of research and running various scenarios. I then do a write-up of what I suggest and how we can work together.

And right now I do that all for free.

The idea is that honest, good people will understand that this is a huge , unheard-of value and realize that it’s a sign of the integrity of the company. Hey, I could do nothing except try to sell you our services and you either blindly jump in or not. But no, I am giving you expertise and time for free.

So I have the reviews stacking up right now. Remember I don’t make a dime. I’m doing these for free because I don’t want to ever bring someone into my company that I can’t help and that there isn’t a positive return for. In other words, if they are doing the full-blown $5,000 tax strategy, then they have to be getting a tax savings of $6,000 or $7,000 at a minimum. That means they immediately have a savings this year and then for every year thereafter.

And then a little insight into my life – this is the very busiest time of the year for our business. I always laugh when people ask if I’m busy because it’s April 15 2012. Here’s a little insight, if you have a tax preparer who says they are super busy because of April 15th, that tells you they either have no clients with businesses or the ones they have are very beginner-level. Sophisticated, complicated business owners ALWAYS file on extension. (ALWAYS – there are 3 reasons for this, but I’m not going to go into that today)

Anyway, the real deadline for CPAs who work with successful business owners is 9/15. That’s in less than 2 weeks. So I have a ton of paying work to get done.

Meanwhile, we’ve had some requests for free reviews. One lady was very insistent that she couldn’t wait and boy, I could see why. Her tax preparer had made some glaring errors in reporting that could very well cost her an audit and for sure cost her thousands of dollars in tax she didn’t need to pay.

So I did the write-up. I also saw that the savings would only be about $3K – $4K, so I gave her way more information than normal and told her how she could come in with the Getting Started program (fraction of the cost of the tax strategy). I did this because I saw she’d been pretty much taken for a ride on the prep of her return this last year.

She said she was sending in her paperwork to become a client on Thursday. Nothing. Called her on Friday and guess what? She had taken all the write-up to her local guy so he could do the work.

Basically I educated her tax preparer for free. AND I did it at the very busiest time of the year.

I gave up time I could spend with my grand-daughters. I gave up time I could go swimming. Heck, I gave up time I could be sleeping…yes, we are that busy. And she not only didn’t recognize that value, but she didn’t see anything wrong with staying with the guy who likely will cost her an audit on last year’s return.

And that’s when I said – Never again.

I don’t know yet how to resolve making sure people find the best fit for the program. But I for sure am not going to spend hours of my time, my 30+ years of expertise and have it just taken away like it was nothing.

I know that right now our websites say I will do a free tax review. Until we can get the websites changed (probably 2 weeks), I will honor that. BUT only if you Contact Us. before the offer comes off the websites.

And I’m going to make it easier for you to get a strategy with me. The price for a strategy has always been $5,000. And remember I only do this if you have a return of $6,000 or more coming your way. Otherwise, we find an easier solution that gets you a smaller return.

I NEVER discount the strategy. But I am now. For the next few weeks, until we get this all taken down off our multiple websites (and figure out how to do the review service, but in a way that ensures it’s not being taken advantage of) I will do tax strategies for half price: $2,500.

This is ONLY for the next few weeks.

You must have the strategy before 10/31/12 to make sure you have time to put this in place.

If you’re getting this email and you’re already a client – thank you. I want to extend a special offer to you as well. I will do an update for this special price PLUS if you have anyone you know who needs a tax strategy as well, they can have the special price PLUS we will pay a referral fee. Contact Us. for details.

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