Let’s Double The Profit of this $2M Accounting Firm
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- Опубліковано 5 вер 2024
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Makes me want to buy a legacy firm.
I f*cking love Hugo
It would be great to hear a video that discusses whether or not a new firm owner should build organically through their model, or if they should acquire a legacy firm. There are some tremendous opportunities in buying a legacy $1 mil firm with $0 down. But is it worth the headache when you can grow exactly how you want under your own model?
No. Its complicated to run the subsidiary. The parent company absorbing the other is also lengthy and costly. Just expand your existing business (increase sales). Its the simplest and easiest solution.
Yep I'll do a pod episode on this
@@jasoncpa awesome!!! Can’t wait!
Is charging a continent fee on tax planning not a disallowed contingent fee per Circular 230? Or is there a loophole I'm missing?
Yeah you definitely can't say I'm going to charge you X % of any tax savings we find.
Just thinking of it in terms of value pricing, a client's going to be much happier paying more for something that's putting money back in their pocket
Jason, the magic pointing at the end doesn't show the videos you are referencing.
Just got that fixed, thank you Carlos!
That is a massive move though. The clients are currently paying $250-$500, it is not realistic to move 70% of the clients to $1500. A $250 client is maybe a W2 and bank interest, they are not paying $1500 to you.
70% of folks are paying 250-500/yr, but the average client across the whole biz pays $1k/yr due to some larger monthly bookkeeping clients
So we're shifting the average from 1k to 1.5k, or +500 per client
The wee baby clients probably bear less of that change, while the bigger clients can increase much more than 500
That being said, the $250 W-2 are probably the ones that probably ought to go away. These are generally going to be better suited for retail tax, when you can sit down with the client and knock it out in one sitting
Build or Buy?