I Probably Shouldn’t Tell You This

I probably shouldn’t tell you this. Keith and Lisa are going to kill me for tipping our hand here. But TaxCoach has a hidden “fatal flaw” that could make the entire system worthless for many members. What is it, you ask? It’s this:

It won’t do anything for you if you don’t use it.

Now, plenty of TaxCoach members avoid that pitfall entirely. They use the damn thing! They put it to work and use proactive tax planning to attract new clients, generate more revenue from existing clients, and take their businesses where they really want to go. Read more…

Two Smart Words from One Smart Guy

Marc Andreesen is one of the smarter guys to emerge from the Silicon Valley tech world.  He coauthored Mosaic, which became the first widely-used internet browser. He co-founded Netscape and sold it to AOL for $4.2 billion. He co-founded LoudCloud and sold it to Hewlett-Packard for $1.6 billion. Today he helms the venture capital firm Andreesen Horowitz and sits on the boards of Facebook, eBay, and Hewlett-Packard. He’s even one of just six inductees in the World Wide Web Hall of Fame. (Bet you didn’t even know that was a thing!)

So when Marc Andreesen offers some advice, it’s probably worth listening to—even if it doesn’t seem directly relevant to you or your business. Read more…

Marketing Lessons from High School Cheerleaders

I was a bit reluctant to lead off this week’s Briefs with a reference to high school cheerleaders. I certainly don’t want to offend you if you were a cheerleader, your wife was a cheerleader, or your daughter is now! But I couldn’t resist the opportunity to grab your attention.

Why does a high-school cheerleader play hard-to-get? Why does she make the quarterback sweat the invitation to the Homecoming Dance, even if she knows she’ll say yes? Because she can! Read more…

Help Solve This Pricey Problem

Last Thursday, I gave a presentation to a group of financial advisors interested in focusing on tax planning. At lunch, I sat next to Dr. Vicki Rackner, an MD who coaches accountants and financial professionals looking to target doctors. (If she sounds like someone we should bring into TaxCoach, you’re right – look for her to co-host a TCU class on targeting doctors on July 12.)

During my presentation that afternoon, I outlined an analogy to explain the tax-planning process. Just like when you go to the doctor when you’re sick, it starts with a diagnosis, then moves to a prescription, then ends when someone fills that prescription. Sitting down with the client to review their tax return is when you diagnose their mistakes and missed opportunities. The plan you prepare is the prescription. And implementing the plan (setting up new business entities, retirement plans, etc.) is filling the prescription. Read more…