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www.taxadvisorsurvival.com

  • Will Your EA Practice Survive the Next 5 Years?

    Competition, Tech, Culture & the ever changing IRS are reshaping the tax industry.

    Book Your Strategy Session

The Forces Threatening Your Practice

Competition & Tech

Using the increasing power of technology, our competitors can bundle services at a lower cost to our clients and offer integrated vertical services of tax, financial, and retirement planning with a growing authority.

Cultural Shift

We work in a culture where “Do-It-Yourself” is the norm, and no amount of industry lobbying can prevent the coming of IRS target of universal automated personal tax filing.

IRS Changes

The IRS is now open to taxpayers and becoming more taxpayer friendly. The need for client representation is going to almost disappear except for the most complex cases.

Don't Get Left Behind

THE TRUE COST OF NOT BEING COMPETITIVE

Losing just 5–10 core clients per year could cost

$50K–$100K+ annually

 in recurring revenue and reduce your firm's long-term valuation by 30–60%.

Client Attrition: 

Tech-savvy clients will seek faster, cheaper, or more comprehensive solutions.

Devaluation of Expertise: 

When tax prep is seen as a commodity, fees decline—even for complex work.

Lost Referrals & Visibility: 

CPAs and advisors often capture the client before an EA is considered.

Stagnant Practice Value: 

Failure to innovate limits your firm’s future resale or transition value.

 STRATEGIES FOR SURVIVAL & GROWTH

1. Differentiate Your Services

    • Offer proactive tax planning and business advisory, not just compliance.
    • Specialize in niches (e.g., real estate, small business, crypto, international tax, nonprofits).
    • Convert client data into RISR-style reports (Retirement, Insurance, Strategy, Risk) for added value.

2. Adopt Tech & Automation

    • Use AI-assisted tax software to reduce manual prep.
    • Automate workflows (client onboarding, e-signatures, secure file sharing, billing).
    • Offer a client portal with real-time dashboards and value-driven insights.

3. Build Strategic Partnerships

    • Partner with financial planners, attorneys, or life insurance professionals to offer holistic tax-advantaged solutions.
    • Collaborate with business consultants and form B2B referral ecosystems.

4. Focus on Education & Authority

    • Publish guides, videos, and webinars to elevate perceived value.
    • Host workshops for small business owners and investors.
    • Position yourself as a tax strategist, not just a preparer.

5. Upgrade Your Business Model

    • Add monthly advisory retainers.
    • Create tiered service packages (DIY help, prep-only, full advisory).
    • Transition from transactional to relationship-based services.
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