Get answers to your more frequent tax fee and accounting questions !

Accounting Tools and Tax Fee FAQ

1. Is my client's information and files safe in SmartPath?

The short answer is, absolutely!

 At SmartPath, we take the security and confidentiality of your client’s information and documents as a priority. We employ cutting-edge encryption protocols and security measures to ensure that your data is protected from unauthorized access and cyber threats.

 Rest assured, your client’s sensitive data is safeguarded, meeting the highest industry standards for data protection.

2. How long do you store projects and documents in SmartPath?

In SmartPath, we understand the importance of data retention and offer flexible storage options to cater to your specific needs.

 Inside the Engage Platform we retain your projects and documents for an extended period, ensuring easy access and reference. However, for complete control, you have the opportunity to delete your data to align with your preferences and compliance requirements.

 This flexibility, combined with our secure infrastructure, allows you to manage your data in a way that suits your business goals and industry regulations.

3. What tax planning and online accounting services are included in SmartPath?

SmartPath offers a detailed suite of tax and pricing planning services and tools designed to empower tax professionals to significantly increase your margins. Our services encompass personalized tax proposals, strategic tax optimization, and also pricing templates, and onboarding of clients.

With our cutting-edge technology, we ensure that your clients are equipped to make informed and tax-efficient financial choices, maximizing your savings while staying compliant with ever-evolving tax regulations.

If your tax and accounting firm has just been established or you are a long time veteran in the industry, we have the expertise and tools to navigate the complex tax landscape with confidence.

Our online features and tax and accounting services in order:

1. Client Services Calculator

2. Magic Client Pricing Link

3. Dynamic Fee Schedule

4. Scope Enforcer

5. Automated Pricing Triggers and Bumps

6. Interactive Client Roadmaps

7. Smart Package Creator

8. Automated Onboarding Dashboard

9. Profitability Management

10. Strategic Advisory Worksheets & Certification

11. E-Signatures & Payments

12. Custom Branding

4. How do I sign up for SmartPath?

,Signing up for SmartPath is very easy!

To start your journey to a better experience as a tax accountant, simply visit our website. There, you’ll find a user-friendly sign-up process that takes just a few seconds to complete.

Follow the prompts to create your account, provide some basic information, and you are on your way to unlocking a world of financial possibilities.

Join our platform today and start shaping the future in tax, accounting, and bookkeeping with confidence and ease.

5. What is the difference between tax planning and tax preparation?

Tax planning is the proactive, planned management of your client’s financial affairs throughout the year. Its major purpose is to reduce a client’s tax obligation lawfully by making intelligent judgments regarding income, deductions, credits, and investments. Tax planning tries to improve a client’s financial situation by lowering their total tax load.

Tax preparation, on the other hand, is the process of filling out and submitting tax forms. It entails organizing and reporting required financial records to tax authorities, such as the IRS in the United States. Tax preparation guarantees that income and deductions are reported correctly and in accordance with legislation.

Tax preparation services will continue to be taken over by technology and the most succesful firms will focus more on tax planning in the future.

6. I don't have any previous experience with tax planning. Can I do it with SmartPath?


 SmartPath is designed to cater to tax professional who may not have prior experience with tax planning. Our user-friendly platform is equipped with tools and resources to guide you through the entire process. We provide step-by-step assistance and expert advice to help you make informed decisions that optimize your client’s tax situation.

Whether you’re a newcomer to tax planning or have some experience, SmartPath offers the support you need to take control of your firm and achieve your financial goals.

7. How does SmartPath help with the online onboarding of clients?

SmartPath simplifies and improves customer online onboarding with a variety of effective features:

  • User-Friendly Interface: SmartPath provides an easy-to-use platform that streamlines the onboarding process. Clients may effortlessly traverse the onboarding process, removing any possible hurdles.

SmartPath allows you to develop customized onboarding procedures that are tailored to your unique business requirements. Customize the procedure to collect the specific information needed from each customer.

  • Secure Document Collection: SmartPath offers a secure environment for customers to upload and exchange critical documents, such as financial statements and tax records while protecting data privacy and security.

SmartPath’s validation solutions assist customers in ensuring the correctness of the data they submit during onboarding, avoiding mistakes and conflicts.

Clients may communicate with you or your team in real-time, requesting clarity and receiving rapid solutions to inquiries, resulting in a pleasant onboarding experience.

SmartPath provides monitoring capabilities that enable customers to monitor their onboarding progress, keeping them engaged and informed throughout the process.

  • Efficient Communication: Clients may contact you directly via the platform, minimizing the need for back-and-forth emails or phone conversations.

 Capabilities for Integration: SmartPath interfaces smoothly with other tools and applications, easing data transmission and improving the entire onboarding experience.

8. How to explain a price increase to a client?

Explaining a price increase to a client can be a delicate task, but SmartPath can assist you in this process. We offer a range of resources and strategies to make the transition smoother:

  • Transparent Communication: We provide you with templates and guidance for crafting transparent, client-friendly messages to explain the price increase. We help you emphasize the value of your services.

  • Value Proposition: Utilizing our insights, you can clearly demonstrate the added value and improvements in your offerings that justify the price adjustment, assuring clients that they are getting more for their investment.

  • Financial Projections: Our tools enable you to share data-backed projections, illustrating the impact of the price increase on the client’s bottom line. This helps build confidence in the decision.

  • Customized Solutions: We offer personalized fee schedule planning, allowing you to tailor pricing strategies based on individual client needs and financial situations, fostering a more collaborative approach.

You will navigate price increases with confidence and professionalism, ensuring a smoother transition for both you and your clients!

9. How to propose a certain price to a client?

Proposing a price to a client effectively is a crucial aspect of any business, and we offer invaluable features to streamline this process:

  • Data-Driven Insights: Data-backed insights into your costs, market trends, and your client’s budget. This information empowers you to propose a price that aligns with the industry standards and your client’s financial capacity.
  • Customized Pricing Models: Create personalized pricing models based on your client’s specific needs and preferences. You can easily adjust pricing tiers, add-ons, or discounts to tailor your proposal to each unique client.
  • Professional Documentation: You will generate customizable proposals, making it easy to present your pricing in a polished and organized manner. This enhances your credibility and client’s confidence in your services.

  • Financial Projections: Utilize our forecasting capabilities, you can provide your client with a clear picture of the expected outcomes of your services at the proposed price. This helps them see the value in your offerings.

10. How to tell a client you underestimated the price of your tax or accounting services?

Addressing the issue with a customer when you have underpriced your tax or accounting services may be difficult, but it is critical to preserve honesty and professionalism.

  • Recognise the situation: Begin the discussion by recognising what has happened. Be truthful and direct. Transparency is valued by clients.

  • Describe the factors: Explain why you underestimated the work. It might be increased task complexity, unanticipated challenges, or changes in project scope. Providing context aids the client’s understanding of the problem.

  • Estimate revised: Provide an updated and accurate estimate for the services. Explain how you concluded at this amount by breaking down the progress they want to achieve. Pricing transparency brings peace to the customer.

  •  Provide solutions: If possible, provide ways to lessen the effect. This might include a payment plan, or other services to offer value.

  • Reiterate your commitment: Assure the customer that you are committed to providing high-quality services. Highlight the value they will obtain despite the price change.

Encourage the customer to ask questions or raise concerns via open communication. To retain confidence, resolve any difficulties as soon as possible.