As we approach 2024 tax season and renewals there are a few changes of note for new and existing customers:
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Here you can find comparative articles to running an S Corporation, C corporation and Sole proprietorship as an entrepreneur with some added thoughts on doing that with a Cryptocurrency involved business. This is also a bit of a test to see if it makes a difference on twitter if I post direct substack links or not. The article links are below:
For 2023 there are a few pricing and service changes that will apply to all customers, new and old.
These changes will take effect when I start on any 2023 work. You will get a new engagement at that time if you do not have one already. It's almost tax season for the filing of 2022 returns. If you are an existing or potentially new client reading this I highly recommend getting in touch with me to schedule something for 2023 as my calendar for regular season filings is already full with returning clients and only extension returns are left.
Don't worry, I can get your extension filed for you, but this is just a fair warning that your return will be done in the summer or the fall if you are coming in to ask for a return at this point (that's right, it's not even January yet) All of the returns are filed that needed to be filed, all of the extensions are filed that needed extensions. Another tax season closed successfully.
As such, I am back to my regular schedule and am open to taking new clients and consultations again. You can find the calendar through the contact page. A quick update that my availability for new tax clients for spring 2022 is now full. The crypto currency community grabbed all of my remaining capacity. If new clients are still interested, extensions will need to be filed to have your work done in the summer of 2022...summer, not fall. Fall 2022 is reserved for spring procrastinators and clients who received tax notices.
2021/2022 Tax service and bookkeeping renewals are going out in November 2022 and are notifying clients of the following changes to their services:
Finally, the requirement for all clients to engage in tax account monitoring relates to a current and likely continuing breakdown in basic service functions for the internal revenue service. Account monitoring will be required to follow the status of changes to client accounts long before letters arrive in mailboxes. Effective immediately for new customers, and for renewals on existing customers hourly rates are $477/hr for tax work and $173/hr for bookkeeping work. There has been a surge in demand for cryptocurrency services along with a large wave of tax professionals retiring from the field and so I've seen a large increase in customer demand.
I had the option to either hire and train staff to meet the demand, or increase my rates to narrow down the funnel of incoming clients and I chose the latter. Hiring new staff and growing my practice size goes against why I started it. The intent is to stay small and serve clients with a 1 to 1 relationship. Get ready for a wild ride! A late start date for when the IRS will accept the returns has been established as February 21 2021. If the new government also goes ahead and changes 2020 tax law before then it will be even later.
Who doesn't like unsolicited testimonials from clients? Jake from leadcookie.com sent me this the other day and gave me permission to share.
"Working with Avery is amazing. It's like having an accounting coach who actually helps you understand your numbers instead of some accountant who speaks a different language. I can honestly say that since starting to work with him, I have a better understanding of my finances, of Xero, and the numbers driving my business. Previous accountants were just a pain in my butt who were there to keep the books clean... Avery is an asset who helps me understand my books and improve my business as a result" I had a former job as a professor at a technical college teaching statistics, so I can sympathize with customers being frustated about numbers and rules that don't make sense. I like it when client's can leave understanding why I did the work I did in addition to having it complete. |