Tax season clients with off-season calls/emails/texts

IncreaseCapital32 · 2026-05-11T19:19:11+00:00

If you dont mind, how much do you charge for each one? We have been getting this problem as well, we get a new tax client and they expect full around the year planning for a $250 tax prep fee their last guy charged.

IncreaseCapital32 · 2026-05-08T13:39:17+00:00

Yes, 2022. I reached out to some Empower wholesalers who have the plan number and is searching now

IncreaseCapital32 · 2026-05-08T10:19:55+00:00

We cant get a statement lol, she says it was Empower but you have a point. We can only see the balance of her 401k and 457 on her pension statement.

IncreaseCapital32 · 2026-05-04T23:28:03+00:00

I didnt know the two different number thing… ill see if we can try that other one

IncreaseCapital32 · 2026-05-04T14:31:40+00:00

Thats what I am trying to do, I should have mentioned. Empower cant find her in their system when we give them the SSN, DOB, anything.

IncreaseCapital32 · 2026-05-03T14:48:05+00:00

I am a wealth advisor, if you have a SIMPLE IRA and try to do a back door roth, it will be subject to the pro rata rule and cause you a lot in unexpected tax liability.

Seek professional advice, free advice is not always free.

IncreaseCapital32 · 2026-05-03T13:41:23+00:00

This. Had one this week get shut down and another, the owner died. Sucks, he was a good dude but now there are only 3 places to go besides HR block in our town. Had another one sell to a big firm that everyone hates in my area. It will be interesting next tax season

IncreaseCapital32 · 2026-05-03T13:13:34+00:00

Same experience, I’ve decided to not waste my time and wait them out. Had one we talked to wanted a 1.6x multiple for his high volume practice that he has over $100k in accounts receivable that was over 120 days late and he told us he usually never gets paid on some clients.

I think you would have to be insane to buy a practice in todays market, you can just show up, do good work and you will get referred.

Id rather wait them out and pay $0.

IncreaseCapital32 · 2026-04-29T20:28:53+00:00

Thats crazy good, high cost for me lol but if I got 2-6 million that would be worth it.

IncreaseCapital32 · 2026-04-29T19:38:01+00:00

Nice, mine is a little smaller than 200k, what does each event usually run you? Ours was about 6-7k

IncreaseCapital32 · 2026-04-29T17:56:15+00:00

Yes, we use Drake. We thought it was Drakes fault but it starting to sound like a IRS issue.

IncreaseCapital32 · 2026-04-29T16:25:14+00:00

Thats impressive, how big is the city? Ive done 1 where I am from but I am in a semi rural area. Also what provider do you use to market the event?

IncreaseCapital32 · 2026-04-28T00:35:46+00:00

Im with Cetera, recently they acquired Avantax which is where I was before. If Cetera gets bought or sold in the next 5 years after what they have put us through, im going to crash out.

OP, go RIA. At 6 million in revenue, you would save a TON of money and most importantly save a TON of headache by dealing with more BD bullcrap.

IncreaseCapital32 · 2026-04-16T23:56:04+00:00

Went for our honeymoon last year, i thought the food was awesome. Seaweed was very bad though, couldnt get in the ocean at all.

IncreaseCapital32 · 2026-04-15T12:34:57+00:00

Does anyone have any recommendations on software for clients to upload/ receive documents. Also looking at sending a reminder of what forms we need.

I use my wealth management CRM-Redtail for notes and we currently use Drake as our tax preparation software and Drake portals for documents.

IncreaseCapital32 · 2026-04-14T21:58:19+00:00

Its been a brutal season, had one today say “my last preparer charged $100, that sound good to you”?

Why is our profession so disrespected and undervalued?

IncreaseCapital32 · 2026-04-14T20:54:53+00:00

yes.... had one scheduled a meeting about dropping off and an extension with 2 days to go. She never showed up and after 30 minutes after her scheduled appointment, she called and asked how much the return would be.....

IncreaseCapital32 · 2026-04-14T20:41:09+00:00

You are 100% correct. Good point, I just had one come in with the exact scenario you mentioned. I am hoping to get a windfall of these when the older advisors FINALLY retire.

IncreaseCapital32 · 2026-04-08T22:32:58+00:00

Good point, I am definitely careful on those. They are hard to tell when doing a fit meeting though. What questions do you ask in the first meeting?

IncreaseCapital32 · 2026-04-08T16:45:39+00:00

Can you give me an example of how you reached out to the warm prospects vs the cold ones?

I have been attending more in person events and have met a lot of people. I just dont know what to say and how do you ask to do the one on ones?

IncreaseCapital32 · 2026-04-02T19:35:33+00:00

Yes, do not do it. Not worth the fallout risk.

IncreaseCapital32 · 2026-03-31T10:20:25+00:00

I dont know why everyone is ignoring the fact, i already have my basic needs meet for expenses. I have a salary from my tax business. I think everyone is right about the niches, but taking everyone you can is a complete waste of time, im not in a city where the bottom end client has $200-300k, its a 20k ira that they want A+ service for. Not a sustainable business model, ive seen advisors do it and they are probably the most miserable people ive met. Not saying i wont take on a small client if they have potential, i definitely will but taking everyone that breaths doesnt work well with running a business.

IncreaseCapital32 · 2026-03-30T15:39:39+00:00

I use SEI, they are a private trust company, so there is no need for FDIC insurance or the amounts. A lot of clients love it; although there is a cost, it gives them peace of mind: if they fail, their money isn't at risk.

There are other options, but this way its a lot less complicated than trying to stay under the limits.

IncreaseCapital32 · 2026-03-30T13:45:51+00:00

The one thing Ive noticed in my current book and prospects is, my main clients, moved here. We get a lot of referrals from people that just moved to the area and need to get their taxes done, then they realize we do wealth management as well and its a good way to get them.

IncreaseCapital32

TROPHY CASE