- How Revenue Can Be Increased by Tax Preparers Amidst COVID
How Revenue Can Be Increased by Tax Preparers Amidst COVID
Some things never change. One such thing is the need for professional tax help. Even in these uncertain times, tax preparation remains a steady source of income for some. But is that all it can be? Could you perhaps grow your business at a time like this? The answer to this question is yes, you can! Here are a few tips on how to do just that.
Focus on a Specific Group of Clients
Don’t market yourself as a generalist. Instead, focus on a specific niche or group of niches. Show yourself to be an expert in a specific tax situation. When you do this, you’re more likely to be hired by clients in that niche. If you’re having a hard time choosing a niche, try to focus on the types of clients who have very specific needs and could benefit from expert help. A few examples of these are social media influence, divorced parents, sole proprietors, military families, gig economy workers, etc. For business clients, try to market to those that have specific tax laws like non-profits. It’s always good to remind yourself that just because you have a niche, doesn’t mean that you don’t see clients outside of that niche. You can still be hired by your regulars even if they aren’t in your specific field.
Use Social Media to Your Advantage
If you’re struggling to find people in your niche, simply join groups that cater to them on Facebook and Reddit. For example, you could join groups for freelancers, Etsy business owners, divorced parents in your location, etc. Remember to follow the etiquette that your group follows. Don’t just post, for example. See if there are any threads meant for ads about relevant services and products. LinkedIn is a great way to connect to business clients. Just message them on the app!
Are you worried your client base is too small? Why not expand beyond just servicing local clients? Since there’s already great professional tax preparation software and a shift towards remote work, clients are extremely likely to be willing to work with a remote tax professional. Put it on your website and social media that you can work with clients from anywhere in the country. Of course, some clients may be hesitant to send personal documents via email, but there are many ways to securely send such things nowadays. If you haven’t yet, try out tax bank products. Essentially, a bank product allows clients to pay you from their tax refund at no upfront cost to them. It’s something quite a few of your clients may be interested in.
Become an IRS-approved Continuing Education Provider
Continuing education credits are something tax professionals will always need. Why not take advantage of that to create a new source of revenue? Simply become an IRS-approved continuing education provider, make some courses designed to help other tax professionals get their CECs, and make money in the process.
Your tax preparation business need not be stagnant during this pandemic. Simply create a niche and leverage social media in your quest to grow your business. There are many opportunities to grow if you choose to seize them. Need the best professional tax software
? Reach out to Keystone Tax Solutions today! We offer professional tax software for tax preparers.