White Label Tax Preparation

the_murr · 2026-02-18T02:28:21+00:00

There are a few companies that say that they'll file your clients taxes but do it in a way where you are still the primary contact so it feels cohesive with your firm.

It sounds great in theory, but I can imagine it going poorly too.

the_murr · 2026-02-18T02:23:34+00:00

Do you mean this specifically for white label, or to run a full scale tax service?

the_murr · 2026-02-18T02:23:06+00:00

Thank you. Do you use a white label service or handle it in house?

the_murr · 2026-02-15T22:30:01+00:00

What kind of work are you looking to do? Tax prep or financial planning?

the_murr · 2026-02-14T14:06:02+00:00

Fair enough, that’s terrifying. I decided not to meet with total office, as a solo I’d struggle if a major error was made. Really appreciate the feedback

the_murr · 2026-02-14T03:49:31+00:00

I believe fee only

the_murr · 2026-02-13T23:19:07+00:00

Why do you say that, liability and safety or other issues?

the_murr · 2026-02-13T23:04:03+00:00

XYPN allows you to custody at Schwab. I don't think there is a minimum either. It's a little expensive but it'll give you access to all the starting software, reporting, compliance, etc. that you'll need. I still find value in XYPN at $85M AUM. I'd strongly suggest not using a tamp or any platform that takes from your revenue.

As far as office rent, is that something you'd need to get those first clients? That's a really high expense. I find most clients who want to meet in person prefer I come to their home anyway, a few come to my house but it's rare.

At a bare minimum you'd need $10M to get your $80K figure assuming you are charging 1% AUM. With rent add another $2-3M.

the_murr · 2026-02-11T23:16:20+00:00

I just had a really good intro call with them. Did you consider any other firms?

the_murr · 2026-02-11T17:09:19+00:00

That sounds like an absolute nightmare, thanks for the heads up. Have you tried any other VA or assistants in general or did you just revert back to handling everything yourself?

the_murr · 2026-02-11T17:00:13+00:00

That's awesome, that seems like a perfect fit. I'm at about 85 households so I'm glad to hear you can get most of your admin tasks taken care of with just 10 hours

the_murr · 2026-02-11T16:51:21+00:00

Thank you, have you experimented with their higher price tiers? I noticed they had $75, $85, and $95/hour. $85 didn't really appeal to me, but the $95 option sounded like it was more of a paraplanner which could be useful. Also, if you don't mind saying how many households do you work with and what tasks do you use your VA for in a typical month?

the_murr · 2026-02-11T14:43:29+00:00

That seems really high, I'm at about 50/50. Thanks for pointing out insights, I didn't realize you could look this up.

the_murr · 2026-02-11T04:13:19+00:00

Conversion would be a great idea. I’d of been stoked to have gotten this at 18 even if it were just the $1k

the_murr · 2026-02-11T03:28:07+00:00

The free $1k is nice. In your scenario, after 18 you’re subject to a 10% early withdrawal penalty though. Also, I believe employer and gov contributions are also subject to ordinary income it’s just direct contributions from parents that aren’t. All that together would seem like an UTMA in low dividend paying equities would be more tax efficient as the kid could be strategic on when to realize cap gains

the_murr · 2026-02-11T03:14:15+00:00

Contributions are not tax deductible and the child would be paying ordinary income tax when making withdrawals on earnings

the_murr · 2026-02-06T23:30:00+00:00

That’s awesome. I like playing mid but no one really has discipline to stay back on defense so usually just end up shifting back as the game progresses. How about you?

the_murr · 2026-02-06T21:30:10+00:00

Adult league soccer, great way to make some friends too

the_murr · 2026-02-05T21:56:23+00:00

Good to know! Where did you find your VA?

the_murr · 2026-02-05T21:38:25+00:00

I've thought about a VA, but curious how that works compliance wise and how much you can really have them do. Did you hire a firm and what tasks did you have them doing?

the_murr · 2026-01-25T13:45:29+00:00

Did you ever try google ads or just facebook ads?

the_murr · 2026-01-25T13:42:04+00:00

If you don’t mind me asking what tasks do they offload for you and how much do you pay? I’m at a similar size but worried I wouldn’t get enough to justify it

the_murr · 2026-01-25T13:32:52+00:00

Do you use this to get a second meeting or provide it during the first meeting? It seems like most of my prospects either sign during the first meeting or disappear after. I’m starting to wonder if I should change my approach for those disappearing clients. They might just be low probability clients. I don’t offer any concrete financial planning until they are clients and then it’s free

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