SMALL BUSINESS, BIG NUMBERS:AN ACCOUNTANT’S GUIDE TO LANDING AND KEEPING SMALL BUSINESS CLIENTS

TABLE OF CONTENTS

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INTRODUCTION: WHY SMALL BUSINESSES ARE A HUGE OPPORTUNITY FOR ACCOUNTANTS

FREELANCERS & SMALL BUSINESSES: A BOOMING MARKET FOR ACCOUNTANTS, BOOKKEEPERS, AND TAX PREPARERS

HOW TO ATTRACT AND KEEP SMALL BUSINESS CLIENTS

HOW TO AVOID LAWSUITS FROM SMALL BUSINESS CLIENTS

CONCLUSION

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WHY SMALL BUSINESSES ARE A HUGE OPPORTUNITY FOR ACCOUNTANTS

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Why Small Businesses Are a Huge Opportunity for Accountants

As the country recovers from its economic recession, there

are tremendous growth opportunities for small accounting

practices like yours all across the United States. Specifically,

you have the potential to grow by offering your services to

small businesses, a growing sector with a significant need for

accounting services.

More and more people are going into business on their

own, working independently, and freelancing. In fact,

FreelancersUnion.org estimates that nearly 53 million working

Americans are independent contractors. By IRS standards,

these individuals are businesses in their own right, but they

may not realize it. This means…

• They might need help with taxes and budgeting.

• They may not realize they have to pay quarterly taxes.

• They need help balancing their books.

And while that market is full of potential, it’s not the only

one that can boost your business. Nearly 46 percent of small-

business owners (excluding freelancers) don’t work with an

accountant. That’s a huge potential market.

In this guide, you’ll discover ways you can attract small-

business clients and tips for ensuring that those new

relationships thrive for years to come. Of course, with any

growth comes new risk. That’s why we’ll also explore how

to prevent these relationships from triggering professional

liability claims. After all, letting opportunity turn into financial

disaster just doesn’t add up.

46% of small businesses don’t work with an accountant.

CHAPTER 1:FREELANCERS & SMALL BUSINESSES: A BOOMING MARKET FOR ACCOUNTANTS, BOOKKEEPERS, AND TAX PREPARERS

FREELANCERS & SMALL BUSINESSES: A BOOMING MARKET FOR ACCOUNTANTS, BOOKKEEPERS, AND TAX PREPARERS

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Freelancers & Small Businesses: A Booming Market for Accountants, Bookkeepers, and Tax Preparers

There are two types of small businesses:

1. Those that know they’re a small business.

2. Those that don’t.

Mom-and-pop corner stores, independently owned auto shops,

and independent consultants all have a solid understanding

that they are indeed businesses and have more tax obligations

than employees. However, some people have the same

responsibilities and status as these businesses but they just

don’t know it.

For instance, say an individual does part-time freelance work

as a graphic designer and files a 1099 as part of her return. As

far as the IRS is concerned, that self-employed person has the

same obligations to pay quarterly taxes as does a

small-business owner. This individual may think she’s just

doing part-time gigs and earning some side money, but she is

technically a small business.

What does this mean? It means that there are a lot of people

who need your advice and expertise and might not know it.

Of the nation’s 53 million freelancers, many don’t know they have to pay quarterly taxes.

?

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Freelancers & Small Businesses: A Booming Market for Accountants, Bookkeepers, and Tax Preparers

WORKING WITH (AND EDUCATING) FREELANCERS

As an accountant, you already know that different business

entities have different tax obligations. But freelancers and

independent contractors may not even think of themselves

as a business, and that can lead to problems when they file

their annual returns. That’s why closing the knowledge gap (at

least in this respect) is an important part of serving the small

business market.

Educate this group by letting clients with 1099s know that they

are expected to pay quarterly taxes, just like any other small

business. You can explain how working with an accountant

and using accounting software can help them save money in

the long run.

But how do you reach out to small businesses? How do you

market your advice to people who may not even realize they

need it? Here are some tips:

• Start with your existing clients. Ask if they know

anyone who freelances or does contract work that you

could contact.

• Go to small business and freelancer events.

Conventions, seminars, and community events are just

a few ways you can meet small-business owners in

your area. Offer to speak there about taxes or related

issues in order to spread the word.

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Freelancers & Small Businesses: A Booming Market for Accountants, Bookkeepers, and Tax Preparers

• Leave fliers in coffee shops or co-working spaces. To

find freelancers, you’ve got to think like a freelancer.

These folks may work in libraries or other community

spaces to help them stay focused if distractions at

home are an issue. Leave business cards at these

places and talk to baristas to build connections.

• Offer referral incentives. Want to get your accounting

business some word-of-mouth action? Give people

an incentive to pass along your business card to

freelancers or small businesses.

• Be where your potential clients are. Once a week, or

maybe a couple times a month, work in a coffee shop

or co-working space to build relationships and make

contacts.

The hardest part is getting started. After that, as you build a

client base of freelancers, contractors, and small businesses,

the momentum can grow as you become known for this type

of work. Soon enough, you might find your schedule packed

with small business clients, and you’ll have the experience to

handle them efficiently.

WORKING WITH ESTABLISHED BUSINESSES

When marketing yourself to established small businesses –

that is, those that are well aware of their small-business status

– it’s more a matter of convincing them that the investment in

your services is worth the money. Small-business owners are

entrepreneurial spirits, after all, and often try to do everything

on their own. The argument hinges on how you can do a better

job for them while saving them time and money.

The best way to support any argument is with facts and

figures. Let’s look at some statistics that you can use to make

your services look enticing to budget-conscious small-business

owners.

Working with an accountant + using accounting software = 16% greater revenue growth for small businesses

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Freelancers & Small Businesses: A Booming Market for Accountants, Bookkeepers, and Tax Preparers

STATS TO LEVERAGE YOUR ACCOUNTING SERVICES

You know that you can navigate finances better than most

people, but how do you translate that into a convincing sales

pitch? Highlight these figures to potential small business

clients:

• Small businesses that work with accountants and use

automated software have 16 percent greater revenue

growth than those that use just software or neither,

according to Accounting Web.

• Small-business owners see 24 percent more revenue

by working with both an external accountant and an

internal one.

This is a powerful selling point. An investment in your services

means greater revenue for your small business clients. Even

if they already have an internal accountant, outside help

catch oversights that drain revenue. According to a GoDaddy

survey…

• 46 percent of small-business owners report not

working with an accountant.

• 85 percent of small-business owners don’t know

exactly what they’ll owe in income taxes before filing.

As you can see, small businesses may be more aware of their

tax obligations than freelancers, but they still don’t know

just how much they’re missing out on by not working with an

accountant. Plus, many of these clients don’t even realize the

full scope of an accountant’s services:

• A majority of small business that use accountants only

use them for specific accounting services and don’t

take advantage of their full range of skills, according to

the Journal of Accountancy.

• 47 percent of those who do use an accountant only

see them once per year for taxes, according to the

GoDaddy study.

Almost half of small businesses don’t yet have an accountant.

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Freelancers & Small Businesses: A Booming Market for Accountants, Bookkeepers, and Tax Preparers

In other words, it’s up to you to make sure your clients know

about the array of services you offer. If you market your

services appropriately, small businesses may turn to you for

more than filing their taxes – they may also enlist your services

for bookkeeping, financial planning, and wealth management.

The more services you sell, the more revenue you’ll enjoy, and

the more revenue your clients will be able to hold on to. It’s a

win-win.

Plus, these additional services allow you to interact with

clients more often and develop strong relationships, which can

go a long way toward reducing your professional risks.

As you can see, there is opportunity for accountants in the

small business world. Hopefully you’ve started thinking about

ways to market your firm to this audience. In the next section,

we’ll discuss what small-business owners want from their

accountants and how you can use that information to attract

new clients and increase revenue from existing ones.

CHAPTER 2:HOW TO ATTRACT AND KEEP SMALL BUSINESS CLIENTS

HOW TO ATTRACT AND KEEP SMALL BUSINESS CLIENTS

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How to Attract and Keep Small Business Clients

As we already established, you know how your services can

benefit a client. But how do you communicate those benefits?

In a nutshell, you’ve got to pin down your clients’ pain points.

For example, is your client most concerned about…

• Revenue?

• Complicated tax returns?

• Future investments?

Understanding where your client is coming from can help

you sell your services more effectively from the outset. You’ll

probably find that for most small-business owners, their

business is their passion, but their finances are a pain.

With that in mind, let’s look at your small business audience

and give you some insight into how to address their needs.

Selling your services starts with understanding your clients’ pain points.

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How to Attract and Keep Small Business Clients

WHAT SMALL BUSINESS CLIENTS WANT AND WHY THEY LEAVE

The Sleeter Group recently researched small- and

medium-sized businesses [PDF] across the United States to

better understand their needs, and the results are illuminating

for the accounting industry. The study shows how accountants

currently fit into the small business world and ways in which

enterprising accountants can take advantage of unmet needs.

Let’s take a look at what the numbers show.

WHAT SMALL BUSINESSES LOOK FOR WHEN SELECTING AN ACCOUNTANT

The survey found that, when choosing a CPA, small-business

owners prioritize…

• Expertise.

• Responsiveness.

• Proactive strategic advice.

According to the survey, low fees are one of the lowest

priorities that small-business owners have, meaning that

they are willing to pay for quality, expert accounting work.

Naturally, they want the best from their accountant.

However, small-business owners are seeking professionals

who can give guidance before it’s needed. In other words,

they want financial help before circumstances change for the

worst. (Indeed, lack of proactive advice is the number-one

reason why businesses switched CPAs – we’ll get into that

in a bit.)

When hiring a CPA, small-business owners care less about money than expertise.

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How to Attract and Keep Small Business Clients

WHICH CPA SERVICES SMALL BUSINESSES USE AND WANT

Businesses that work with a CPA report that they use the

following accounting services:

But even though these services are the most common, these

numbers don’t tell the whole story. Business owners are

looking for more. Those already working with CPAs reported

that the following are the most desired accounting services:

If it still isn’t clear, small businesses often yearn for help and

guidance. Preparing tax returns is important, but business

owners want more information, more knowledge, and more

tools for keeping track of and budgeting their finances

throughout the year. If you can meet that need, you’re in a

good position to gain clients.

25% of small businesses are willing to spend on accounting services that help them with business planning.

Small Business Use of Accounting Services

0

10%

20%

30%

Business Planning

Business Strategy

Business Monitoring

Business Analytics

Accounting Services Desired by Small Businesses

0

20%

40%

60%

80%

100%

Tax Prep Tax Planning Reviewing Business Records

Representation at Gov't. Audits

Bookkeeping

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How to Attract and Keep Small Business Clients

WHY SMALL BUSINESSES SWITCH ACCOUNTANTS

Nearly half of the businesses surveyed in the study switched

CPAs at one point during the life of the business. Their top

reasons for leaving their accountant?

• The CPA failed to give proactive business advice.

• The CPA demonstrated poor responsiveness.

• A trusted contact referred a new accountant to the

business.

• The CPA lacked expertise.

• The CPA’s fees were too high.

• The CPA relied on old technology or was

inadequately staffed.

• The business had no personal relationship

with the CPA.

These responses show that communication is key. If you can

provide planning services, offer financial advice, and maintain

working relationships with your clients, you have a good

chance of holding on to them. Find out what they want and

meet them halfway. Embrace technological tools and keep

educating yourself on better ways for your clients to run their

businesses.

For some more insight on the referenced study, check out The

Sleeter Group’s blog.

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How to Attract and Keep Small Business Clients

KEEPING SMALL BUSINESS CLIENTS HAPPY MEANS MORE SERVICES, MORE REVENUE

The results of the Sleeter survey and the GoDaddy survey cited

earlier indicate that taxes, accounting, and finances are a real

pain point for a lot of small-business owners. They show that

finances are the most unpleasant part of running a business,

and the expertise needed to confidently handle them is still in

high demand. Business owners’ responses show that what they

want is an expert who can guide them and an accountant they

can trust. Fees are less important than the feeling that they’re

in good hands.

It follows, then, that meeting this demand can be beneficial

for both you and your clients. By offering more services, you

strengthen client relationships, improve communication, and

provide an additional revenue source for your practice.

Though your role as an accountant in the coming years may

require you to tackle analytics, new accounting software, and

other innovative methods for assisting small-business owners,

investing in learning to use these tools is likely to pay off.

STRATEGIES FOR INCREASING REVENUE FROM EXISTING SMALL BUSINESS CLIENTS

Based on the research we’ve examined so far, it’s clear that

you stand to gain a lot from offering more services. But if

you already have a number of small business clients, how do

you get them to sign up for more than just tax preparation?

Consider these tactics:

• Update marketing materials (website, brochures, etc.)

with key pain points for small businesses. Show that

you have a solution to the problem as they see it.

• Update messaging with existing clients to promote

your other services. If you’ve performed these services

for them in the past, remind them.

• Discuss the value of meeting several times per year

to manage finances. It makes tax time easier for you

and gives clients a better idea of how their business is

doing. Schedule intermittent appointments at your

tax-time meeting.

• Introduce “value-added” services like reminder emails

about paying quarterly taxes and updates on ACA

requirements. Go above and beyond, letting your

clients know that you’re on the same page as they are.

• Communicate in person or on the phone and introduce

your broader range of services beyond tax preparation.

Clients may not know you offer financial planning, for

example.

• Consider offering services at an introductory rate for

a limited time or for referred clients. Be sure to send

reminder emails and post the offer on your firm’s

social media pages.

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How to Attract and Keep Small Business Clients

By taking a proactive approach in educating and advising your

client, you may find a need that’s unfilled. They may not even

realize it themselves. Explore the client’s wants and see if you

can aid them with your expertise. If the fit is right, you’ll both

benefit.

The important thing is not to box yourself in and not to let

your client box you in. You’re more than a bean counter, after

all.

Increase revenue by selling more services to existing clients.

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How to Attract and Keep Small Business Clients

STRATEGIES FOR INCREASING REVENUE BY ATTRACTING NEW SMALL BUSINESS CLIENTS

Growing your practice necessitates gaining new clients and

wading into unknown territory. Do you feel prepared for it?

There are plenty of prospective clients out there, but the pool

of small businesses is large and can seem daunting. Like a

patient fisherman, the enterprising accountant is going to

have to know where to look and how to lure them in.

So what should you include in your client tackle box? How

do you get business owners to notice you and take interest?

Consider the following tips:

• Build relationships with existing clients so they spread

the word. If you currently serve small business clients,

they are your biggest allies in advertising your practice.

Word of mouth is a powerful marketing tool, so give

your clients plenty of reasons to rave about your

services.

• Implement a referral program for getting new clients.

The individuals and businesses you serve have

networks of their own, so tap into them. Incentivize

referrals for both parties, and be proactive about

asking for referrals. Make it clear that you’re interested

in helping other businesses that may need it.

• Tailor your marketing materials for small businesses.

Highlight the things that small-business owners care

most about, including the services we’ve explored in

earlier sections. Your website, business cards, and ads

are all opportunities to focus on small businesses.

• Listen first, talk second. In all meetings with

prospective clients, find out what their specific pain

points are, and then frame your services (if they’re a

match) in a way that meets the client’s needs.

• Highlight any niche experience you have. Are a

majority of your existing clients in a certain industry?

Do you serve mostly independent contractors? Have

you come from another field to pursue your passion

of accounting? Take stock of your experience and

focus on specialties. There’s no need to compete with

hundreds of CPAs for every client out there when

you’re one of the few who has expertise in underwater

salvage companies, for example.

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How to Attract and Keep Small Business Clients

A successful approach to attracting clients will take a bit of

effort, but the payout can be well worth it. Be mindful about

maintaining the strong relationships you’ve already developed

and find ways to better serve your clients. Growing too quickly

can backfire if your old clients feel that the care they’re used

to has deteriorated and may even find a new accountant if

you prioritize growth over their needs. It will take balance,

experimentation, and good communication to pull off, but an

ocean of clients is there for the taking.

Carve out a niche to help prospective clients find you.

CHAPTER 3:HOW TO AVOID LAWSUITS FROM SMALL BUSINESS CLIENTS

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How to Avoid Lawsuits from Small Business Clients

Here’s a conundrum: with every client comes the risk of a

lawsuit if something goes wrong. At the same time, you need

clients to keep your business afloat. The best you can do to

minimize your risk is to get familiar with the incidents that

trigger lawsuits and avoid them accordingly.

For starters, professional liability (in the form of costly

mistakes or unwise financial decisions in an advisor role) is

generally the largest exposure to contend with, but personal

injury, libel, and property damage could all be cause for

suits. Small-business owners who have a lot to lose may be

especially likely to sue if they feel that their accountant’s

mistakes cost them financially. Even defending against a

frivolous lawsuit can cost up to $5,000, according to research

by the US Chamber Institute for Legal Reform [PDF]. And that’s

if you’ve done nothing wrong.

As you grow your accounting business and take on more small

business clients, it’s essential to keep disputes from spilling

over into the courtroom. Let’s explore some ways to avoid

common mistakes and oversights that lead to lawsuits.

Frivolous lawsuits cost $2,000 - $5,000 in legal fees.

HOW TO AVOID LAWSUITS FROM SMALL BUSINESS CLIENTS

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How to Avoid Lawsuits from Small Business Clients

AVOIDING LAWSUITS BY COMMUNICATING CLEARLY WITH CLIENTS

Communication is arguably the most important skill to

have in any business (in fact, there’s a whole international

organization devoted to it), and its role in avoiding lawsuits

can’t be overstated. Relationships, whether personal or

professional, require a certain level of communication

between parties to be considered healthy and successful.

Communication clears misconceptions, illuminates wants and

motives, and solves problems that affect both parties.

Recall that 54 percent of small-business owners leave

their accountants at some point. The top two reasons

they cite for their dissatisfaction? No proactive advice

and poor responsiveness – i.e., a lack of communication. If

communication breakdowns are extreme enough, a client may

do more than leave their accountant – they may sue.

What makes good communication? In the accounting

industry, there are three tenants of effective communication:

familiarity, cushioning, and tact.

Poor communication is the top reason small-business owners switch accountants.

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How to Avoid Lawsuits from Small Business Clients

TIP #1: GET FAMILIAR

Every small business has a different story, and every business

owner has different priorities. To foster a good relationship,

you need to know what makes your client’s business tick. Start

by…

• Asking your clients what they hope to get out of

the relationship, including what they want for their

business and themselves.

• Checking in every once in a while to see how their

business is doing.

• Educating them about what to expect and letting them

know when things change.

You want to be familiar with your clients’ businesses, and they

want to be familiar with yours. Remember, familiarity builds

bonds. It’s why friends hang out and why couples go on dates.

The more effort you put into knowing your clients, the more

they’ll trust you.

And if something does go wrong? It’s a lot easier to fix

mistakes if you’ve already earned your client’s trust. Also,

clients are less inclined to sue someone they consider a friend.

TIP #2: CUSHION THE BLOW

The reality is that not all of your clients are going to be

consistently rolling in the dough. Small businesses may be

stretched thin at tax time or years down the road when the

market changes. To keep the relationship productive and

friendly, help guide the client when they need it most.

If they owe a ton of taxes they didn’t expect to, look for

ways to decrease the burden, such as a payment plan. Offer

a solution so the same problems don’t keep popping up.

Cushion the hard times the best way that you can – it’s what

your clients look to you for.

It’s okay to “fire” a client who insists on shady bookkeeping practices.

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How to Avoid Lawsuits from Small Business Clients

TIP #3: BE TACTFUL

Sometimes, your relationship with a client will require a bit

of sensitivity. Small-business owners often pour their blood,

sweat, and tears into a business, working long hours and

risking lots of money to make it work. Know how to handle a

situation when emotions are running high.

Sometimes, you’ll have to protect yourself, too. For instance,

if you see shady accounting practices, address them

immediately to prevent an IRS audit or fraud charge. Assume

it was an honest mistake the first time, but consider it a red

flag if the client seems unconcerned or wants to continue

the illegal practices. This client could end up being a major

liability for you.

Always include a “scope of services” clause in your retention letters.

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How to Avoid Lawsuits from Small Business Clients

THE ROLE OF DOCUMENTATION IN LIMITING LAWSUITS

Business sometimes relies on a promise and a handshake, but

if your agreements aren’t in writing, you leave your firm wide

open to messy disputes and potential lawsuits. Documentation

can help iron out disagreements and foster communication at

the same time. Plus, using contracts makes you look prepared

and professional.

For starters, always outline your scope of services in your

retention letter. Remember: if it’s not in writing, it didn’t

happen. (For additional advice, see The Savvy CPA’s guide to

drafting an engagement letter.)

When communicating with a client about your services or

business matters, document, save, and file…

• Phone calls.

• Face-to-face discussions.

• Emails and letters.

• Any other important decisions.

If you agree to something over the phone, send a follow-

up email to create a written record. Write a memo after a

conversation, date it, and file it away. In the event of a lawsuit,

this evidence will be invaluable support for your case.

If, for example, you find a problem in the numbers and notify

the client, you’ll have evidence of your recommendations

and whether or not the client chose to follow them. Enough

written evidence to support your case may dissuade an

upset client from even considering a lawsuit. (If a lawsuit is

underway, know that your evidence will be important during

the discovery process.)

A simple mistake can lead to a high-profile lawsuit against an accountant.

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How to Avoid Lawsuits from Small Business Clients

QUALITY CONTROL: THE IMPORTANCE OF DOUBLE-CHECKING YOUR WORK

Anyone can make a simple error – a fact famously

demonstrated by the loss of the Mars Climate Orbiter

after a team of engineers used English units instead of the

metric system. But it wasn’t just the error that caused the

malfunction; it was the lack of review that cost NASA $125

million.

You’re probably not under quite the same pressure as rocket

scientists, but exacting standards and deadlines can be

stressful in any field. When tax time comes barreling down

and you’re drowning in work, it can be all too easy to rush a

job and accidentally file incorrect tax returns.

Unfortunately, a simple mistake can cost your client the

client a small fortune. That’s more than enough to sour a

relationship and lead to a lawsuit. For example, NBA star

Kevin Durant sued his former accountant over deducting

personal expenses as business expenses. Another thing to

keep in mind is that mistakes can trigger fraud allegations

from the IRS, leaving a client with no recourse but to sue you

over the mistake.

Take the time to check and review your work so things are

aboveboard from the start. This may require your client’s

cooperation, so let them know it’s for their own good.

Lastly, don’t believe yourself to be above an occasional error.

It happens to the best of us.

Listening to upset clients and acknowledging their frustration can ease a tense situation.

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How to Avoid Lawsuits from Small Business Clients

AVOIDING LAWSUITS BY MANAGING EMOTIONS AND EGOS

Understand the emotional investment owners have in their

businesses and finances. For many, their business is their life.

Emotions and ego are naturally going to play a part in that, so

be aware of it.

Numbers may be the most important part of your business,

but remember the people driving those numbers. When you

have to deliver bad news, remember the communication

tips we discussed earlier. Cushioning and tact can soften the

blow and appease an angry client. Sure, it’s not your job to be

someone’s therapist. At the same time, keeping a cool head

and showing a little empathy can help you navigate a tense

situation.

When dealing with an upset client, it may be helpful to…

1. Listen and let them vent.

2. Acknowledge the frustration and apologize (even if it’s

not your fault, apologize for the frustration).

3. Offer solutions.

On the other hand, know when a client is a liability to you.

Irrational decisions fueled by recklessness or anger can make

whatever you’re getting from the client not worth the trouble.

Sometimes dropping them from your clientele (gracefully, of

course) is the best option. For more tips on handling charged

professional interactions, check out the Forbes article

“Keeping the Peace: How to Deal with an Angry Client.”

If you’re sued over your work, your E&O Insurance can cover the legal costs.

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How to Avoid Lawsuits from Small Business Clients

PROFESSIONAL LIABILITY INSURANCE: A LAST LINE OF DEFENSE

Professional Liability Insurance, otherwise known as Errors

and Omissions Insurance, serves your accounting practice in

two ways:

1. It makes you appear more credible and trustworthy,

which is something that small-business owners want. It

shows that you have backing by an insurance company

in case a mistake leads to financial loss. This lets

business owners breathe a little easier and makes you

a more appealing option for their accounting needs.

2. It covers professional liability claims, including

lawsuits. Though the hope is that you won’t have to

use your policy, you don’t want to risk losing your

livelihood and your business because of an angry

client.

If all your efforts to prevent a suit fall short, your insurance

can help pay for attorneys’ fees, court costs, and judgments or

settlements.

Every effort should be taken to avoid a lawsuit, make no

mistake. But if a lawsuit does occur, having Errors and

Omissions Insurance can be a lifesaver. The policy provides

the funds for an attorney right away, which means your

legal advisor can try to get the suit dismissed. The ability to

act quickly may spare you from going to court at all. Plus,

the peace of mind a policy affords is indispensible for any

professional accountant.

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Conclusion

It’s our hope that you now have a clearer picture of how

accounting professionals and small business clients can make

each other’s lives (and bottom lines) better. Small businesses

rely on accountants to help them decrease their tax burdens,

make financial plans, and balance books. By understanding

the needs of these potential clients, you can market your

services more effectively.

But as you know, all opportunity comes with risk. As your

practice grows, make sure to adequately protect it by

maintaining professional standards, communicating with

clients, documenting your decisions and interactions, and

carrying liability insurance. With these precautions, your

accounting practice is bound to see better numbers in no time.

CONCLUSION

Photos: shutterstock.com Cover Photo: shutterstock.com