Chapter 1: Technology Considerations and Recommendations
Technology Is Essential to an Efficient Tax Office, Tax Preparation Software, The Paperless Office, Multiple Monitors, Voice Recognition Software, Electronic Communications, Remote Computing, Computer Hardware and Peripherals, VoIP Telephone and Fax Services
Chapter 2: Software Vendors and Recommendations
Operating Systems, Tax Preparation Software, Electronic File Cabinet Systems Software, Time and Billing Software, Remote Computing Software, The Importance of Integration
Chapter 3: Security Issues
Tax Practitioners Have a Greater Need for Security, Basic Security Threats, How to be Protected, Complying with Government Requirements, Encryption and Passwords, Backing Up
Chapter 4: Staffing Considerations
Staff—Tax Practitioners Can?t Live Without Them (or Can They?)
Chapter 5: Managing Workflow—Office Procedures
From Login to Completion—The Need to Be Organized, Pre—Scheduling Appointments, Use of Tax Organizers, Returns While They Wait, The Tax Interview—Returns to Be Done Later, Discouraging Interviews—The No Interview Return, Electronic Input Procedures, The Review Process, Avoiding Bottlenecks, Smoothing Out Seasonal Fluctuations—Put Them on Extension
Chapter 6: Types of Services Which Should be Offered to Clients
Tax Services Only, Tax Planning, Tax and Accounting Services, Management Consulting, Investment Advisory Services, Information Technology, Real Estate Broker / Mortgage Broker
Chapter 7: Pricing of Services and Billing Procedures
Hourly, Fee Schedule, Fixed Fee Arrangement, Value Billing, Combination of the Above, Pricing for Profitability, Getting Paid, Use of Retainer, Getting Paid on Delivery, Collection Procedures, When to Sue a Client
Chapter 8: Marketing and Practice Development
Overview, Retaining Existing Clients, Expanding Services to Existing Clients, Marketing Services to New Clients, Networking, Advertising and Other Marketing Tools and Techniques, Coordinating a Firm?s Marketing Efforts
Chapter 9: Office Space and Lease Considerations
Choosing the Right Office, Location, Location, Location, Newer vs. Older Buildings, How Much Space Is Required?, Leasing vs. Buying and Building Office Space, Leasing Office Space, Buying or Building Office Space, Relocating the Office, Furnishing and Decorating
Chapter 10: Tax Preparer Responsibilities
Circular 230, AICPA Statements on Standards for Tax Services (SSTSs), State and Professional Regulations, The Importance of Quality Control (QC), Documentation, Review Procedures, Engagement Letters
Chapter 11: Tax Research
The Five Steps in Effective Tax Research, Step One—Determine the Facts, Step Two—Formulate the Question, Step Three—Locate and Evaluate Applicable Authorities, Step Four—Answer the Question, Step Five—Document the Answer, Sources of Tax Law, How Much Research is Enough?
Chapter 12: Financial Considerations
Accounting Systems, Reviewing Financial Results, Comparison With the Industry, Survey Results, Goal Setting
Chapter 13: Choice of Entity
Choice of Entity, Sole Proprietorship, General Partnership, Limited Liability Company (LLC), Limited Liability Partnership (LLP), C Corporation, S Corporation
Chapter 14: Buying or Selling a Practice
The Ultimate Goal, Value of Practice, Finding a Buyer, Negotiating Terms, Covenant Not to Compete, Future Involvement of Seller, Conclusion
Chapter 15: Appendixes
1. Sample Outsourcing Agreement
2. Sample Client Organizer
3. Sample 1040 Fixed Fee Change Letter
4. Sample 90-Day Letter
5. Sample 120-Day Letter
6. Sample Bounced Check Letter
7. When to Sue a Client
8. Tax Practitioners? Marketing Techniques
9. Sample Client Newsletter
10. Sample Client Letter
11. Information Commonly Presented on Firm Websites
12. Preliminary Snapshot—Facilities Management
13. Circular 230 (Revised 4-2008)
14. Summary of Return Preparer Penalties
15. Sample Tax Return Review Checklist
16. Sample Engagement Letter for Individual Clients
17. Sample Engagement Letter Transmittal Form
18. Sample Follow-Up Engagement Letter
