3 Assets You Need To Increase Fees This Tax Season

By William Hamilton

Founder, SmartPath.co

If you’re not charging your tax or accounting clients enough, This is your tax season to raise fees…

  • Maybe you’re giving away too much free tax advice.
  • Maybe clients are calling you for help, and you’re not getting paid for that time outside of your tax prep.
  • Maybe a client’s situation has tangibly changed – they own a business now or have multiple rentals, and you’ve never updated their fee.  

We have collected data from over 14,000 tax & accounting proposals…

Here are the three assets you need to raise someone’s fee THIS tax season:

  1. An apparent “why”
    You need a reason why you want to charge more, and it can’t be because of inflation.
    If you say that, clients will push back. No one wants to pay more for the same thing. If you will increase the fee, you need to increase the value.
    • If you want to make this part easy, use our Client Guide. It’s a simple PDF that shows clients step by step why they may want to start paying more. It helps them look at their own situation to determine if adjusting their relationship with you makes sense.
  2. New Options
    If you change someone’s fee, you need to know and show what the new fee will be. It’s most effective if you give clients at least two options to choose from so they’re focused on which option is best for them. One of the options can always be something similar to the services they had before, but the second option should be an “upgrade” to their existing level of service. This could include things like tax planning, IRS correspondence assistance, and done-for-you accounting, for example.
    • To make this part easy, use our pre-built services menu. You can answer 6 simple yes/no questions and immediately get a recommended service package with a recommended price and what to include to match the client’s needs.
  3. Visuals

People understand things when they can “see” them. Most of us would rather look at an image or video than read. So, you need to visualize the differences between what they’re paying for now and what they could have with your new fee. Then, visually, make it clear what the next steps are and what action you need them to take to move forward.

  • If you want to make this part easy, use our Proposal Roadmap. It visualizes up to three pricing options for the client, then shows them the next steps and clarifies what they need to do to move forward.

If you have a clear “why”, your new options, and your visuals ready (you can get all three from us within minutes), any tax firm can quickly increase fees with a client this tax season. 

You deserve to be fairly paid for your work.

If you want to help re-pricing some clients this tax season, we can helpbook a free call.

To your success!