How to Be an Overnight Success

10yearsTen years ago this week — May 26, to be precise — Keith and I threw the switch on a brand-new website offering a new kind of tax-planning software: “plain-English planning, with the savings your clients really want.”

When we started, we were TaxCoach Software, an online planning application. Now we’re TaxCoach System, a comprehensive business development tool consisting of three parts: the planning tool, the marketing tools, and the community. (That’s you.) Read more…

Swimming with Sharks

I spent the first two days of this week in gloomy Southern California for the 2015 Certified Tax Coach Tax Planning Summit and Reunion. It was a genuine high point of the year, being surrounded by 70 or so enthusiastic TaxCoach members and Certified Tax Coaches. I’ve said before that our Wednesday afternoon call-ins are my favorite appointments of the week — well, TaxCoach and CTC live meetings are my favorite events of the year. Dominique Molina and her team put together a great event, and I’m pleased to congratulate them here.

This year’s reunion featured plenty of actionable ideas that attendees could take back to their office and implement immediately. In fact, some didn’t even wait that long. Amit Chandal learned about one planning strategy during a Tuesday afternoon session, texted it to a prospective client, and picked up a $15,000 engagement before that session was even over. Read more…

Who’s Your Supervillain?

Photo credit: http://vignette2.wikia.nocookie.net/marvelmovies/images/b/bc/Ultron_Empire_textless.jpg/revision/latest?cb=20150126200212My daughter Margaret is a huge fan of the Marvel Comics superheroes, so last weekend I took her and her brother Oliver to see the latest Marvel Movie, “Avengers: Age of Ultron.” If you’re a comic book fan, you know the drill: a bunch of superheroes (Iron Man, Captain America, Thor, the Hulk, the Black Widow, and Hawkeye) team up to save earth from the latest and greatest threat. CGI special effects, extended fight sequences, and deadpan wisecracks ensue.

I’ve never been much of a fan of comic book movies. I think it’s silly how Hollywood remakes Superman every five years or so — but they all seem to make money, so maybe they know something I don’t. Anyway, this movie was pretty good, and I told Margaret I would be happy to take her to any other superhero flicks she wanted to see. She immediately rattled off a list of “coming attractions” — I hadn’t realized how thoroughly the comics had taken over the theaters. Read more…

Jenny, I’ve Got Your Numbers!

Keith and I launched TaxCoach almost exactly 10 year ago — on May 26, 2005, to be precise. We’ve always prided ourselves on bringing you a different kind of tax planning program, focusing on plain-English concepts and strategies rather than spreadsheets and projections.

TaxCoach has always let you offer clients “ballpark savings estimates” to help them understand which strategies can be most valuable. These estimates generally take the form of ranges. For example establishing an S corporation offers “Potential Tax Savings” of “up to $153 for every $1,000 no longer subject to self-employment tax.” Establishing a medical expense reimbursement plan might offer “up to $288 in income and employment tax savings for every $1,000 in deductible expenses.” Read more…