Nick Hodges CPA/PFS, MBA, CFP, CGMA

Transcription

1 Nick Hodges CPA/PFS, MBA, CFP, CGMA August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 1 Tax Advice Disclosure Here s the fine print: To ensure compliance with Internal Revenue Circular 230, we inform you that any U.S. Federal tax advice contained in this communication is not intended to be used or written for use, and cannot be used for the purposes of (a) avoiding penalties under the Internal Revenue Code or (b) promoting, marketing, or recommending to another party any tax related matter(s) addressed herein. August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 2 1

2 Dedicated to YOUR Experience This month by month review of key action items will help you manage your year to set the stage for new levels of profitability, client satisfaction, and lifestyle improvements so you can develop the practice you desire. AUG 8 Introduction (1 Minute) Practical information (58 Minutes) Closing (1 Minute) August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 3 OUR MAIN OFFICE LOCATION: NCH Tax & Wealth Advisors 1661 E. Chapman Ave. #2A Fullerton, CA (714) info@nchwealth.com August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 4 2

3 NCH TAX & WEALTH ADVISORS SPECIALTIES U.S. Tax (Americans Stateside and Abroad) Financial Advice Bookkeeping & Business Consulting Outsourcing Expat Tax & Wealth Management Family Office Services August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 5 OUR TEAM 5 CPA Wealth Advisors 6 CPAs 18 Employees August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 6 3

4 MY CREDENTIALS Over 30 Years Experience CPA 1981 MBA 1984 CFP 1997 PFS 1998 Author: Expat Taxes Made Easy International Speaker August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 7 Your Tax Season Survey How Many of YOU: Are done with tax season by 4/1? AND have $$ in the bank? Spend 4 months a year in an exotic location with NO STRESS? Are now annoyed with Nick? August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 8 4

5 January - April Does your year begin and end with TAX SEASON? August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 9 May - June AFTER TAX SEASON Recover FROM tax season Collect accounts receivable Shuffle remaining piles August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 10 5

6 July - September FINALLY TAKE TIME OFF Cash reserves are up Resting but secretly nervous: Will you run out of money? What opportunities are you missing? What about next tax season? August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 11 October - December DREADING TAX SEASON Cash reserves are down Afraid to fire cranky clients How did this happen again? August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 12 6

7 Doing the same thing the same way and expecting different results Is defined as: INSANITY! August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 13 Let s Build a Better Tax Season: Get control of your year Seize opportunities Build YOUR dream lifestyle August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 14 7

8 April 16 May 31 Next Year Starts NOW Schedule TOP 3 priorities: Tax appointments for NEXT year Wealth management opportunities From LAST tax season Your SUMMER VACATION for july August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 15 April 16 May 31 Pre Schedule Tax Appointments for NEXT Year How to schedule Based on last years actual appointment Time of day Type of day Early or late in season August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 16 8

9 April 16 May 31 Handle Wealth Management Business Opportunities identified during LAST tax season Contact the client Process remaining paperwork Conclude client planning meetings August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 17 April 16 May 31 Clean Up Loose Ends Finalize nuisance work CP2000 s Lingering client issues Accounts receivable collected August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 18 9

10 April 16 May 31 Schedule YOUR July Vacation Where would YOU like to go? Where motivates you? How do you relax best? August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 19 June General Housekeeping Regroup Review CPE needs Clean up calendar Update office Finish later piles Reevaluate Tax season good/bad Clients ABCs Menu of services Staffing needs August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 20 10

11 Be Proactive July - September Prepare for Success Learn about financial planning topics Learn to talk confidently with your clients about them Schedule at least 3 A client meetings each week August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 21 July - September Prepare for Success Surface Year End Advanced Planning Opportunities How to spot them Determine tax sheltering products Educate yourself and your clients now Build your resource network August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 22 11

12 July - September Prepare for Success Take a REAL one week vacation! No business activities No extended family visits No CE creditable seminars August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 23 Your Staff Print, assemble, collate Order tax time supplies You Decide promotionals Review content October Process Client Organizers August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 24 12

13 November Complete Year End Planning All business clients tax planning All A clients tax planning Advanced tax planning strategies Make decisions with clients Set up for next year Create your firm s annual business plan August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 25 December Now What? Confirm your tax time preparations Spend time with your family and friends Mail organizers by 31st August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 26 13

14 First Two Weeks January 1 February 15 Revving Up! Review tax law changes Proforma clients Review software updates August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 27 January 1 February 15 Remaining Four Weeks Revving Up! Get out of the office Seek new business clients Review year end business client financial statements August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 28 14

15 February 16 March 31 TAX SEASON Down to a few short weeks Go home early Operate at peak efficiency You Your staff Your offices August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 29 April 1 April 15 VACATION! Make Your Dream a Reality August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 30 15

16 What will your next Tax Season look like? Frazzled? Fatigued? Frantic? August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 31 Or This? Shorter tax season More time with family Greater revenues Greater productivity Fewer headaches August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 32 16

17 Life is not a Dress Rehearsal The sure way to miss success is to miss the opportunity! Create the life you ve always wanted. August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 33 THANK YOU! If you have questions regarding this presentation or want to know more about adding financial services to your tax practice, please contact: James Moss RFC, CEP Nick Hodges Michael Roby NCH Tax & Wealth Advisors Money Concepts (714) (317) August 2014 Nick Hodges, CPA/PFS, MBA, CFP, CGMA 34 17