A lot of CPAs look down their nose at CAS: It's bookkeeping.
In '19 tax clients we pulled into CAS saw a 4-8x fee increase, avg is now $1,600/mo. Start with bookkeeping 📉, but find the related services people will pay really well for 📈
👇baby thread
#taxtwitter #accounting
In '19 tax clients we pulled into CAS saw a 4-8x fee increase, avg is now $1,600/mo. Start with bookkeeping 📉, but find the related services people will pay really well for 📈
👇baby thread
#taxtwitter #accounting
The best place to launch a CAS practice is from inside a tax practice:
-Share responsibility with tax partners
-Easy sales pipeline
-High quality clients
⚠️ But don't run it like a tax firm. The tools, processes, staff should be different.
-Share responsibility with tax partners
-Easy sales pipeline
-High quality clients
⚠️ But don't run it like a tax firm. The tools, processes, staff should be different.
The 3 arguments FOR growing into CAS:
1. I don't care how good you are at tax, if another preparer will handle the entire actg dept, clients will consider it
2. The moment you flip the CAS switch, you 4-8x the lifetime value of your clients
3. Clients become more sticky
1. I don't care how good you are at tax, if another preparer will handle the entire actg dept, clients will consider it
2. The moment you flip the CAS switch, you 4-8x the lifetime value of your clients
3. Clients become more sticky
If CAS allows you to 4-8x client fees, the hold-up for most isn't lack of buy-in, it's lack of time & internal expertise
For a firm in this position, I think you only have 3 options:
1. Stop doing tax 👎
2. Hire a unicorn to manage it 🦄
3. Partner with a CAS firm 🤝
For a firm in this position, I think you only have 3 options:
1. Stop doing tax 👎
2. Hire a unicorn to manage it 🦄
3. Partner with a CAS firm 🤝
