According to one recent study, it's estimated that about 28.5% of people in the United States enlist the help of a professional when it comes to filing their taxes. Another 8.3% go with a tax-centric company in their area, with H&R Block being the top examples.

Needless to say, if you're a tax and accounting firm, basic tax preparation and filing - along with other straightforward accounting tasks - probably makes up a significant amount of the work you do every year. Of course, this is also a path that ebbs and flows. How do you create a more consistent level of income throughout the year, all while also growing the number of clients you have in a way that allows your organization to scale?

The answer is simple: you go beyond those basic services and focus on high level accounting solutions moving forward.

The Advantages of High Level Services: Breaking Things Down

To be clear, expanding beyond straightforward tax and accounting means finding a way to offer something of value to your clients on a regular, more consistent basis. What's better than preparing someone's taxes once a year, for example? Handling their monthly accounting needs, either for themselves or their business. Do you have a client who needs extra help with regular bookkeeping for their business? You can step in and become their virtual CFO and make your own life easier come tax time in the process.

Expanding services like this doesn't just open you up to more revenue - it also creates a far more consistent revenue stream in an inherently unpredictable industry as well.

Another added benefit is that it gives you a chance to up-sell your current clients as opposed to going out and attracting new ones. It is always more expensive to earn a new client than it is to retain an existing, satisfied one, after all.

Additional Considerations About Next Level Accounting Services

These are a few of the short-term benefits of focusing on high level accounting services. Over the long-term, it puts you in a position to be more selective regarding the type of work you do and who you choose to work with. You also get to generate more income in fewer hours of work, which for most entrepreneurs is the most important benefit of all. Rather than giving yourself over to the annual grind of income tax season and working incredibly long hours, things can level out in a way that is more manageable both personally and professionally. 

In the end, your clients are ultimately looking for more than just another accountant. They need a true financial partner in every sense of the term. While that might mean tax preparation, it also involves becoming a one-stop shop for all their needs like monthly accounting, virtual CFO services, and more. The more value your business can offer, the more invaluable you become in the lives of your clients - creating a mutually beneficial situation for all involved.

If you have any questions please don't hesitate to contact us today. You can also try out our platform for free here.