00:11:50 Gary Watts: How are you feeling? 00:12:08 Lauren Kinser Cordon: Welcome to today’s session! We’re so glad to have you with us. Jackie always loves an interactive experience, so please feel free to use your Zoom reactions and drop any questions into the chat throughout the session. At the end of today’s session, you will receive a brief post-event survey. We would greatly appreciate you taking a moment to complete it. It not only gives us your valuable feedback, but it also ensures we have the correct information to submit your earned CPE. We are excited to get started and thank you again for joining us! 00:13:46 Scott Edmiston: Curious how we receive CPE certificates for these sessions. Can you advise, please? 00:14:15 Karen Chase: Something I am struggling with is how much time and effort to put into the plan before even having a commitment from a potential client to implement the plan. Do you ever charge a fee just to run the plan? 00:14:17 Lynn Quick: I think it's a great idea. 00:14:20 Karl Locker: Great idea 00:14:22 Jennipher Branch: Yes!! 00:14:26 Karl Locker: Agreed! 00:14:30 Michael Hayes: Good idea 00:14:34 Scott Edmiston: Onboarding is a weakness IMHO. 00:14:36 Larisa Lopez: πŸ‘ 00:14:36 Santha Koehn: I can't WAIT to start building my next plan, but it will have to be after Oct 15! :/ 00:14:45 Lauren Kinser Cordon: Replying to "Curious how we recei..." Hi Scott, CPE will be awarded through CPA academy. It may take 4-6 weeks to show in your CPA academy account and we submit it using the email you registered for the event with 00:14:50 Lynn Quick: Reacted to "I can't WAIT to star..." with πŸ‘ 00:15:07 Bobbi Wipperling: Reacted to "I can't WAIT to star..." with πŸ‘πŸ» 00:15:17 Scott Edmiston: Replying to "Curious how we recei..." Thanks, Lauren. 00:15:26 Bobbi Wipperling: Replying to "I can't WAIT to star..." So glad you still chose to SHOW UP even with the looming deadline! 00:15:37 Gary Watts: Have you considered a mentor program, matching new users with experienced users for their first 3-5 plans and presentations? 00:15:39 Sarah Schariest: Reacted to "I can't WAIT to star..." with πŸ‘ 00:15:40 Lauren Kinser Cordon: Replying to "Curious how we recei..." You are most welcome! 00:15:42 Larisa Lopez: I closed a new cleanup deal yesterday and just told them about the tax planning, so next step will be to get their 1040. during our call we discovered 4 properties, 800k in savings, no retirement, and lots of ideas for those low hanging fruit ideas. 00:15:54 Bobbi Wipperling: Reacted to "I closed a new clean..." with πŸŽ‰ 00:15:56 Larisa Lopez: Reacted to "Have you considered ..." with ❀️ 00:16:06 Bobbi Wipperling: Replying to "I closed a new clean..." This will be a GREAT plan. Easy Phase 1!! Go get it Larisa! 00:16:19 Larisa Lopez: Reacted to "This will be a GREAT..." with πŸ₯° 00:16:24 Bobbi Wipperling: Reacted to "Something I am strug..." with πŸ‘πŸ» 00:16:28 Jason Richards: Reacted to "I closed a new clean..." with πŸŽ‰ 00:16:29 Bobbi Wipperling: Reacted to "How are you feeling?" with πŸ‘πŸ» 00:16:29 robert king: Replying to "Curious how we recei..." What is CPA Academy? 00:16:31 Jason Richards: Reacted to "I closed a new clean..." with πŸ‘ 00:16:50 Stephanie T. Mepouyi: I am still in discovery mode because I haven't received a response to my 5 questions list yet. Could be that it was working week and we are handling her 2024 tax prep as well so am hopeful the weekend will get us one step forward 00:16:56 Courtney Holness: Jackie you're saying you would charge a fee to prepare the proposal? 00:17:00 Madeline James: Reacted to "I closed a new clean..." with πŸ‘ 00:17:22 Bobbi Wipperling: Replying to "I am still in discov..." Don't be afraid to follow up, either! 00:17:27 Bobbi Wipperling: Reacted to "I am still in discov..." with πŸ‘πŸ» 00:17:32 Jennipher Branch: Replying to "I am still in discov..." Same. Sending follow up today 00:17:37 Bobbi Wipperling: Reacted to "Same. Sending follo..." with πŸ‘πŸ» 00:18:00 Alicia Matayoshi: discovery fee..do u suggest a price? 00:18:04 Stephanie T. Mepouyi: Reacted to "Don't be afraid to f..." with πŸ‘ 00:18:32 Bobbi Wipperling: Replying to "Have you considered ..." Gary, this is a great idea. I will bring it to attention to our leadership. We are workshopping a lot of learning opportunities currently, so this is a great addition to that conversation. 00:19:01 Alicia Matayoshi: I asked during last session but don't know if it was answered. I don’t understand why β€œspouse” is listed as a related party. Is this even necessary? Some tax strategies involve the spouse (like contributing to their 401k), but what about when it’s the taxpayer directlyβ€”how does that apply? 00:19:14 Stephanie T. Mepouyi: Reacted to "Have you considered ..." with ❀️ 00:19:19 Lauren Kinser Cordon: Replying to "Curious how we recei..." Hi Robert, CPA academy is a platform that has their own events, but also who we work with to issue CPE for these events with. If you do not have an account currently you can use this link to navigate to their website and create an account, https://www.cpaacademy.org/ 00:19:30 Bobbi Wipperling: Replying to "Jackie you're saying..." Yes, that is what she is saying! 00:20:33 Bobbi Wipperling: Replying to "I asked during last ..." Hi Alicia! I did respond, but it may have been right at the end. You don't NEED to have the spouse as a related party. It may make sense for some taxpayers such as ones who keep separate finances, but it is not necessary. 00:20:51 Jesse Gleaton: Replying to "Jackie you're saying..." @Bobbi Wipperling how would you label this, something like a 1k cost to do a discovery tax planning meeting and initial look on the back end to think about strategies? If you sell them on a tax plan, would you subtract that 1k (not that it would matter because you could factor it in to the price)? 00:20:55 Larisa Lopez: I really liked your sample deck. It was very simple and customized, I need that. 00:21:36 Bobbi Wipperling: Replying to "Have you considered ..." This is also what we do in our Growth program, Gary. Our 1:1s are designed for this as well, which I know you take advantage of! Is there something in particular you are looking for in a mentorship program that is not a part of the 1:1? 00:22:18 Bobbi Wipperling: Replying to "Jackie you're saying..." It's a personal preference, but my recommendation is to utilize it has a deposit towards their tax plan that is nonrefundable if they choose to not move forward. 00:22:37 Courtney Holness: Reacted to "Yes, that is what sh..." with πŸ‘ 00:23:02 Loren Oesterle: How do we setup a one-on-one meeting to discuss a particular client? 00:23:13 Veronica Herrera, CPA: Replying to "discovery fee..do u ..." $500-$1000 00:23:13 Ed Lloyd: trust 00:23:16 Larisa Lopez: shows our value 00:23:17 Jesse Gleaton: Replying to "Jackie you're saying..." πŸ‘ 00:23:18 Courtney Holness: Replying to "Jackie you're saying..." I've only been charging $495 - but I don't share any specific strategies. 00:23:18 Bobbi Wipperling: Replying to "discovery fee..do u ..." Personal preference, but I would recommend a minimum of $500 that can be utilized as a deposit for when they sign on with you. 00:23:20 Larisa Lopez: what they get 00:23:22 Bobbi Wipperling: Reacted to "$500-$1000" with πŸ‘πŸ» 00:23:24 Brandon Underwood: It’s social proof 00:23:27 Brandon Underwood: And easier to sell 00:23:27 Gary Watts: Conservative estimates 00:23:28 Stephanie T. Mepouyi: That shows what we are able to do and also that other people trusted us 00:23:31 Larisa Lopez: proof in the pudding 00:23:33 Eden Badertscher: Prep for price 00:23:34 Alicia Matayoshi: Replying to "Jackie you're saying..." get them excited about the projected savings $$$$ 00:23:37 Jesse Gleaton: Replying to "Jackie you're saying..." @Courtney Holness does that include anything after the meeting? 00:23:42 Loren Oesterle: To give them more confidence in us? 00:23:51 Larisa Lopez: Reacted to "Prep for price" with ❀️ 00:23:54 Courtney Holness: Replying to "Jackie you're saying..." @Jesse Gleaton - no, it's just the proposal meeting. 00:24:21 Courtney Holness: Replying to "Jackie you're saying..." I call it a Tax Savings Analysis. 00:24:30 Jesse Gleaton: Reacted to "I call it a Tax Savi..." with ❀️ 00:24:33 Sarah Schariest: Reacted to "I call it a Tax Savi..." with ❀️ 00:24:41 Alicia Matayoshi: Replying to "Jackie you're saying..." with the projected svings, investments, etc...what # should we use since I've never done this before. 00:24:49 Santha Koehn: Some are new and don't have clients/results to show, so any substitute? 00:25:06 Stephanie T. Mepouyi: Replying to "Jackie you're saying..." Do you charge that before the discovery meeting then? 00:25:13 Bobbi Wipperling: Replying to "How do we setup a on..." Hi Loren! You can schedule a 1:1 by logging into your TaxPlanIQ, selecting the gold Growth Plan tab on the left tool bar, and paging down to the One on One Firm Consultation. There is a Schedule Now button there! Looking forward to seeing you soon! 00:25:29 Karen Chase: Reacted to "Some are new and don..." with πŸ‘ 00:25:47 Bobbi Wipperling: Replying to "Some are new and don..." I would recommend taking that slide out until you have some data to put in there. 00:26:04 Bobbi Wipperling: Reacted to "@Jesse Gleaton - no,..." with πŸ‘πŸ» 00:26:26 Santha Koehn: Reacted to "I would recommend ta..." with πŸ‘ 00:26:30 Courtney Holness: Jackie - have you ever had a client say they want to move forward, but they don't actually sign the engagement letter and pay? 00:26:37 Alicia Matayoshi: Replying to "I asked during last ..." how do we combine the proposal to list both. is there a way to have TPIQ list them as both clients, or have the svings listed for each? 00:29:10 Bobbi Wipperling: Replying to "I asked during last ..." The software automatically assigns the client name as the 1040 related party. You can edit the client name to include both taxpayer and spouse or leave it just as the taxpayer. If you want to split it out, you can pull the Return on Investment report by Related Parties. It won't show the ROI by related parties but will show strategy by related party. If you are trying to run two separate ROIs, create two separate plans. 00:30:07 Bobbi Wipperling: Replying to "Jackie you're saying..." @Stephanie T. Mepouyi I recommend that, yes. Otherwise you are providing a service with no payment. 00:30:44 Bobbi Wipperling: Replying to "Jackie you're saying..." @Alicia Matayoshi could you further elaborate on your question? What number are you referring to? 00:31:56 Courtney Holness: Fantastic! Thank you Jackie! 00:32:14 Alicia Matayoshi: Back in August I announced to my 1040 clients that I’ll be rolling out new 3-tier service packages starting next year. I’m ready to launch now, and the 2nd & 3rd tiers will include TPIQ. Since most TR are done for this year I'm announcing TPIQ as a pilot, I’m offering an initial review & implementation fee of $300 (introductory, regularly $XXXX), then the Tax Strategy Session will be offered using the ROI Method of Value Pricingβ„’ with a 40% discount on the suggested ROI-based fee. I’d love your feedbackβ€”does this positioning make sense, and what price point would you recommend I set for TPIQ inside the 3-tier packages when I fully roll them out? 00:32:30 Bobbi Wipperling: Reacted to "Jackie - have you ev..." with πŸ‘πŸ» 00:37:05 Bobbi Wipperling: Replying to "Back in August I ann..." I highly encourage you to not discount your services. Charge what you are WORTH! I recommend having a base fee (ex. tier 2 starts at $1,000/month) for each tier. That gives you the flexibility to charge appropriately without creating a ceiling for yourself. Here is a link to sample pricing packages (that Jackie used in her business) - https://meyertax-8719651.hs-sites.com/en/knowledge/how-to-sell-tax-planning-packages you can use this as a guide! 00:37:49 Jaclyn McGuinness: Wednesday I had a Discovery meeting with a prospect who has stated this morning that they are ready to move forward with engaging us - 5 partners' 1040s and a 1065. Once they put their 1065 number in their 1040s and saw the tax that was due, they were shocked. They think that there was one job that did not have all of the expenses entered into their accrual I am going to be uploading the 5 1040s when I get them - time is short, but this could be 5 tax plans! 00:38:11 Madeline James: Reacted to "Wednesday I had a Di..." with ❀️ 00:38:19 Madeline James: Reacted to "Wednesday I had a Di..." with πŸ‘ 00:38:41 Stephanie T. Mepouyi: Is it possible to have the chat transcripts after the calls? Sometimes it's difficult to keep up with listening and reading while some stuff being discussed here could benefit everyone 00:38:45 Bobbi Wipperling: Reacted to "Wednesday I had a Di..." with πŸŽ‰ 00:38:54 Bobbi Wipperling: Replying to "Wednesday I had a Di..." This is wonderful! Keep us updated! 00:39:05 robert king: Reacted to "Is it possible to ha..." with πŸ‘ 00:40:00 Alicia Matayoshi: Replying to "Back in August I ann..." Thanks for the link. What is Apex Team? 00:41:37 Lynn Quick: Explain the LIRP. Is this deductible? or just retirement for future? 00:41:54 Bobbi Wipperling: Replying to "Is it possible to ha..." @Stephanie T. Mepouyi Yes, we will include that after the event! 00:42:07 Veronica Herrera, CPA: Replying to "Back in August I ann..." Apex Team is just a fictitious tax planning firm name 00:43:37 Stephanie T. Mepouyi: Reacted to "@Stephanie T. Mepouy..." with πŸ‘ 00:47:27 Bobbi Wipperling: Replying to "Back in August I ann..." @Alicia Matayoshi I know you met with Sam this week in a 1:1. Continue scheduling those and we can deep dive more into your questions as well! Excited to see you in a 1:1 soon! 00:47:45 Alicia Matayoshi: Replying to "Back in August I ann..." Basically I wanted to show them the preview of 2026 packages & at the same time roll out a "pilot" for TPIQ. Or would it be best to compose an email for each tax client using the template showing the potential tax savings? I would prefer to send an email to everyone than individiually. What are your thoughts? 00:48:00 Alicia Matayoshi: Reacted to "@Alicia Matayoshi I ..." with πŸ‘ 00:49:14 Bobbi Wipperling: Replying to "Explain the LIRP. Is..." The savings comes in the form as after-tax growth. This is a very powerful strategy for the right client. I highly recommend connecting with the Preferred Vendor, Dave Spence. He does a wonderful job breaking down the strategy. 00:54:38 Lynn Quick: Replying to "Explain the LIRP. Is..." Ok I will connect with him 00:54:52 Bobbi Wipperling: Reacted to "Ok I will connect wi..." with πŸ‘πŸ» 00:55:31 Alicia Matayoshi: I have non-US staff. None of my clients have signed 7216 yet. Can she assist me with uploading or downloading into TPIQ? I'm thinking yes since she's not actually "preparing a 1040". 00:56:50 Bobbi Wipperling: Replying to "Back in August I ann..." Make it easy to scale - a group email is great! I don't recommend sending them their estimated savings until you have time to comb through the plan a bit. If you haven't seen it yet, here is an email template you can use/edit to send to your clients - https://meyertax-8719651.hs-sites.com/en/knowledge/10-days-to-closing-a-tax-plan-challenge-email 00:57:08 Alicia Matayoshi: Replying to "Back in August I ann..." OH and the plan shows monthly fees. Does this mean you charge monthly + ROI fee 00:58:12 Santha Koehn: Replying to "Back in August I ann..." I'm glad to hear you got $20K from the deal, Larisa! 00:58:23 Bobbi Wipperling: Replying to "Back in August I ann..." That is what we recommend - an implementation fee (ROI fee)+ monthly retainer as long as you are providing additional services such as estimates, meetings, etc 00:58:36 Stephanie T. Mepouyi: Reacted to "I'm glad to hear you..." with πŸ‘ 01:00:45 Jennipher Branch: it looks like the plan is picking up the cost seg study depreciation in all years not just year one 01:03:36 Bobbi Wipperling: Replying to "I have non-US staff...." Our knowledge of the 7216 is you have to have the clients sign the 7216 if non-US staff are accessing tax return data. Please confirm this with your own research. Your E&O insurance may also have this answer for you. 01:04:28 Bobbi Wipperling: Reacted to "it looks like the pl..." with πŸ‘πŸ» 01:06:59 Stephanie T. Mepouyi: I have heard some S Corp election are taking a while to get approved currently. If I filed one as part of the tax strategy, do I absolutely have to wait until rolling any payroll payment to LLC owner? 01:09:02 Bobbi Wipperling: Replying to "I have heard some S ..." You do not have to wait. S Corp Election confirmations have been very slow in my experience as well. 01:09:09 Larisa Lopez: Reacted to "You do not have to w..." with πŸ‘ 01:09:48 Larisa Lopez: Replying to "I have heard some S ..." It will keep you in compliance for S Corp late filing relief-just in case 01:10:08 Bobbi Wipperling: Replying to "I have heard some S ..." Exactly @Larisa Lopez! You are electing S Corp ... you want to act like one, too! 01:10:19 Lauren Kinser Cordon: Thank you all for joining us today. We truly appreciate your time and participation in the session. As a quick reminder, please be sure to complete the post-event survey. Your feedback is important to us, and it also ensures we have your correct information to submit your earned CPE. 01:10:25 Stephanie T. Mepouyi: Reacted to "Exactly @Larisa Lope..." with πŸ‘ 01:10:33 Stephanie T. Mepouyi: Reacted to "It will keep you in ..." with πŸ‘ 01:10:36 Stephanie T. Mepouyi: Reacted to "You do not have to w..." with πŸ‘ 01:10:40 Larisa Lopez: Reacted to "Exactly @Larisa Lope..." with ❀️ 01:10:55 Alicia Matayoshi: Replying to "I have heard some S ..." Is there any info on best entity structure for owner of potential new businesses? 01:11:15 Stephanie T. Mepouyi: Thanks Dr Jacks and team 01:11:21 Jennipher Branch: thank you! 01:11:21 Carolina Grasso: Thanks!!!!!!