Level Up Your Tax Advisory - Pricing & Service
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CPE Credits: 3 Hours CPE
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Field of Study: Business Management & Organization
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Instructional Delivery Method: Self Study, On-Demand Video Course
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Advanced Preparation Needed: None
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Prerequisites: None
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Program Knowledge Level: Basic
Course Description:
This course explores the future of tax profession and the importance of transitioning to a more advisory-focused practice. The course emphasizes the transition from being solely focused on tax preparation to becoming trusted advisors who provide valuable insights and guidance to clients. Participants will explore key strategies for overcoming challenges, building an advisory mindset within their teams, maximizing growth opportunities, and implementing effective pricing and billing models. By the end of the course, participants will possess the skills and knowledge necessary to adapt to the evolving tax landscape and take steps to establish a successful advisory practice.
Course Learning Objectives
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Identify the challenges that must be faced in transitioning to an advisory service, including time constraints, pricing and staffing issues, and the significance of practice management and technology in shifting focus towards advisory services
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Identify and gain knowledge on strategies for maximizing growth, utilizing existing clients, understanding data for effective planning and pricing, and productizing services to streamline delivery and increase efficiency
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Recognize the role of automation in the advisory process - Understand the role of artificial intelligence in tax technology and its potential for automating tax form completion and assisting with tax-related inquiries
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Identify the primary roles and services of an advisor - Explore the concept of the advisory role in the tax profession, including its consultative approach, the importance of selling valued services, and distinguishing oneself from being solely a record keeper.
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Differentiate between tax preparation and advisory services- Evaluate the need for a fundamental shift in the business model to prioritize advisory services over tax returns and understand the steps required to make this transition.- Recognize the skill sets required for the advisory role, the importance of effective communication in building rapport and trust with clients, and the benefits of having separate advisors for client communications and advisory services.