How to Charge for “Quick Questions” from Business Tax Clients

Business Tax Training Course

You get a text message from a long lost friend, from high school, who knows that you know about “Tax Stuff.”

“Quick question, should be pretty straightforward: I put my LLC into my sister-in-law’s LLC, because she has good credit and that’s how we got the loan to buy my new duplex.  Do I file that on my LLC or on my sister-in-law’s LLC?”

Business tax clients–you gotta love’em! They’re a curious bunch, that’s for sure!

For those of us who want to work with business tax clients without going completely nuts, it is so, so very crucial to know how to handle “quick questions”–correct?

  • Handle “quick questions” one way, and I’ll end up frustrated, low-paid (if paid at all), and “time-sucked into oblivion.”
  • Handle “quick questions” another way, and I’ll end up stacked with high-value clients, making great money, and making a real difference in the world.

Fortunately, it’s not hard to turn “quick questions” from potential business tax clients into new clients and new profits. And it’s actually quite enjoyable, tooonce you have a repeatable process that works for you.

Step-by-Step Process for Turning “Quick Questions” into New Clients and New Profits

Here below is a step-by-step process that I learned from my own Business Tax Mentors, in case this process could be helpful in building or refining your process:

  1. Potential business tax client asks “quick question” that “should be pretty straightfoward.”
  2. We respond, “That’s a great question.  I wish I had a simple answer for you.  But the real answer is…it depends.” 
  3. Allow the potential client to ask something like, “Well, what does it depend on?”
  4. Name a couple things upon which it depends.  For example, “It depends how your Operating Agreement is written up, as compared to how your sister-in-law’s Operating Agreement is written up.  It also depends whether or not you’ve made certain elections with regard to your LLC.”
  5. Allow the client to ask more “follow up questions,” if they have any.  
  6. Instead of answering any of the potential client’s follow up questions, ask the client, “Do you have an existing relationship with a professional who can help you with this, or do you want me to help you with this?”
  7. Allow the client to say yes, they’re requesting your help, or no, they’re not requesting your help.
  8. If the client is not requesting your help, move on quickly to other topics, or depart the conversation entirely.  If the client is requesting your help, briefly explain to the client what your process looks like for providing business tax preparation and/or consulting services, advise the client of any timelines / deadlines that need to be considered, and describe the positive results that the client can expect from working with you.
  9. Allow the client to either say no or yes to receiving your help in the way that conforms to your service delivery method and is profitable for you.
  10. If the client wants to “move forward” and we have capacity to do the work before the deadline, then sure, let’s move forward.

The goal, then, is to turn quick questions into new clients.

Why get “frustrated” with questions when these interactions are so profitable and enjoyable, once you have a repeatable process that works for you?

How to Learn More Techniques and Constantly Keep Improving

These are the kinds of “murky waters” that we help tax professionals navigate with confidence in our Business Tax Verified Training Program, co-created with CPA Adam Shay.

We built the business tax training, tools, and support Program we needed for ourselves when we ourselves were struggling to serve more advanced business tax clients such as C corporations, S corporations, and multi-member LLC’s.

Click here to join the Business Tax Verified Training Program today and get real help with your real business tax clients, right now.

We provide three levels of support for all Business Tax Verified Members, so that you’re always walking this path with friends and allies, we all journey together:

  1. Group Posting – we have two private groups, populated by multiple paid mentors and hundreds of your fellow tax professionals, where you can post business tax questions and get business tax answers quickly and easily.
  2. Mentor Support Sessions – happening 3x per week, these are live “mastermind” style Zoom meetings led by a paid Mentor and attended by dozens of intelligent and helpful tax professionals.  Attend and ask business tax questions live Monday, Wednesday, and/or Friday.
  3. Direct Hands-on Help from Mentors – working on a tricky business tax return and you want a private review from a senior-level business tax expert?  Contact our dedicated Tax Business Coach, Glen Wielandt, and he will connect you directly with a Mentor to review your client situation and see how we can help.  Hands on help, not just “book learning”!

Click here to join the Business Tax Verified Training Program today and get real help with your real business tax clients, right now.

If you have questions about whether or not the Business Tax Verified Program would help you this tax season (and beyond), please click here to contact our dedicated support team and we will assist you directly.

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Let's Make Sure We Direct You to the Right
Training for Your Needs!

Please click the button below for your primary tax credential.

Not sure which credential applies to your situation?  Click here to reach our support team and we'll help you decide.