By: Charles E. McCabe, President & CEO Peoples Income Tax, Inc. Mass media advertising is effective in creating awareness, name recognition, and differentiating your firm from the competition. However, it is difficult to effectively sell with mass marketing because tax preparation service is not a commodity. The pool of taxpayers is made up of people […]
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Tax Office Site Selection
Growing a tax office can necessitate a move. Your site selection is a critical decision process that can make the difference between success and failure. The target community must include enough taxpayers to provide the number of clients you need at a market share that you can reasonably attain in order to realize the required […]
How to Develop a Strategic Business Plan
EXECUTIVE SUMMARY What Are The Issues? Why A Strategic Plan? Writing Your Strategic Plan THE COMPANY Company Mission History & Personnel SITUATIONAL ANALYSIS Tax Firm SWOT Analysis MARKET RESEARCH MARKETING GOALS SERVICE (PRODUCT) DEVELOPMENT Trade Names Services & Products Delivery Systems and Capacity Pricing Suppliers of Critical Elements MARKETING PLAN Marketing Strategies & Tactics Client […]
Building Year-Round Profit
Problems Facing Tax Practitioners: Extreme seasonality has always been a challenge for tax practitioners. With over 90% of annual tax preparation revenue being realized in about 80 days, tax firms are in the same situation as many seasonal vacation resorts, and far worse off than most retailers. Problems posed by extreme seasonality include: severe cash […]
14 Steps to Motivate and Retain Employees
A Guide for Small Businesses with Limited Resources Employee retention is essential to maintain customer relationships and minimize recruiting and training costs. The keys to employee satisfaction and retention are founded on strong leadership and sound management practices. By mastering these arts, you should have happy, loyal employees and customers, resulting in growth, profits and […]
13 Tips to Retain Your Clients and Grow Your Tax Business
Pay attention to your existing clients. It is five to 10 times more expensive to attract new customers than it is to retain your existing customers. Plus, word of mouth is the best form of advertising! Stay in touch with your clients on a regular basis. They need to be reminded that you are there […]
New State Sales Tax Calculator Debuts
New State Sales Tax Calculator Debuts on IRS.gov IR-2007–19, Jan. 29, 2007 WASHINGTON — The Internal Revenue Service is providing a new online tool to help individual taxpayers determine whether they might benefit by electing to deduct their state and local general sales taxes. “The Sales Tax Calculator is another interactive tool on the IRS.gov […]
Career Options for Displaced Bank and Financial Professionals
Tax Preparation: A New Career Option for Displaced Bank & Financial Professionals? By Charles E. McCabe, CEO, Peoples Income Tax, Inc. A new career in income tax preparation could be a safety net for some of the thousands of bank and financial services employees who are losing their jobs due to the economic crisis. Many […]
Chuck McCabe Comments on Tax Preparer Performance Standards
IRS Public Forum on Tax Preparer Standards Ronald Reagan Building, Washington, DC 9:00 a.m. July 30, 2009 Input by Charles E. McCabe Chairman, National Alliance of Tax Business Owners President & CEO, Peoples Income Tax, Inc. and The Income Tax School I attended this Public Forum as an observer and I am writing to provide […]