Happily Ever After – The power of tax filing deadlines

Most of us enjoy stories that have a happy ending. September 15th and October 15th mark important endings for the filing of tax returns. Tax returns can tell an important story for you and your clients. The conclusion of the tax preparation season is a significant final chapter in your firm’s 2010 story. Finishing these stories with a happy ending sends powerful messages to your clients and to your firm. The messages you send as you wrap up the tax-filing season will generate important financial benefit to your firm. Follow the steps below and creating a happy ending will be easy:

Tell your story
Make sure you use the opportunity to complete the individual tax returns to share the stories that are embedded in the other returns previously filed for the client. Relate the intricacy of how the planning was effectuated with the completion of the 1040. If you merely forward the 1040 when ready, you turn your work product into a poorly appreciated commodity. Conduct a special meeting, deliver the return and tell the full story. By making your expertise obvious, you command appreciation for the value you generated.

Confirm conditions
Take the time to be sure that the client understands the story. Engage the client in a conversation that will allow them to describe the results of your efforts so you can be sure they can appreciate the results. Use the conversation to get an update on current conditions so that you can offer ideas for meaningful tax minimization for 2010.

Get personal
When you issue the bill for the tax returns, make sure that a letter accompanies it. The letter should highlight topics raised in the meeting that you had, explain how gratifying/important the client is to you and thank the client for their confidence in you and for giving you the opportunity to provide your service. As you prepare the bill, consider the value that you achieved for the client and be sure that you compute the fee with that value in mind.

Plan for the next chapter
Promptly prepare an engagement letter for the next year’s services. In tandem with that engagement letter, demonstrate your commitment to your clients’ well being by scheduling appointments for year-end tax work along with sessions for scoping out areas of emphasis. Consider a minimum fee arrangement for the engagement, and if you elect to go in that direction, position it well before tax season.

Happy clients present a pathway to a profitable practice. Clients expect quality from their professionals. The sensitivity and professionalism of the delivery system is what distinguishes the powerhouse organizations. September 15th and October15th provide you with the opportunity to have “happily ever after” be more than a fairy tale ending for you and your clients. Deliver and package your knowledge – it may be an old story, but it is one that will produce the happy ending you are looking for!