WEBVTT

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April Walker: On today's
podcast listen to hear more

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about leaning into technology
for your tax practice.

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Hi everyone and welcome to

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the AICPA Tax Section
Odyssey podcast,

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where we offer
thought leadership on

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all things tax facing
the profession.

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I'm April Walker, a
lead manager from

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the tax section and
I'm here today with

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a repeat guest. His name is

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David Snyder he's a founder
and CEO of Harness Tax.

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Welcome back, David.

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David Snider: It's a
pleasure to be here.

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Thanks to April.

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April Walker: David,
I'd love for you to

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start tell us a little
bit about yourself and

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tell us a little bit about
Harness Tax and where you see

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yourself in this world of tax.

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David Snider: Thank you for
having me. Yes, so Harness

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has a platform for

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routine tax advisors
that are looking to make

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their relationship
with their clients

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more seamless and insightful,

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and what that really means is

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a practice management solution

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that's tied into a much
broader set of offerings.

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That includes
business development

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to help advisors with leads,

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a concierge team to
help with support,

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as well as a broader network
of resources to help

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guide advisors and give them

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the resources of bigger firms.

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April Walker:
Wonderful, I feel since

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we talked in spring of 2022,

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if it's possible I
feel the importance

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of technology is
even more important.

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Maybe that's just me
being dramatic but

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let's start off just by
pretty broad question,

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how do you see
technology transforming

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the way tax advisors
interact with their clients?

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David Snider: Absolutely,
I think about it being

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in the second of three
inevitable phases.

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I think the first stage,

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which is very typical
across industries.

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My background was spending now

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12 years building technical
enabled services,

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software solutions, first at
compass that real estate,

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advisory firm, and
now at Harness.

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Before that in the
middle spent a lot of

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time at Bain Capital looking

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at different disruptive
technologies and

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so that first phase
that we went through,

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very similar to a
lot of industries.

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Adoption of email,

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adoption of technologies
that clients can

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actually submit core documents

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digitally and not just in paper.

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The ability with the
early softwares to

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actually complete and
file electronically.

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That really is table

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stakes and if you
look at the data it's

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99% of advisors have an Efin

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The second phase that we're
really still in the early to

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mid innings ARB is the
software collaboration phase.

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What that looks like is
work-flow automation,

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ways of interacting
with clients to

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create leverage for
advisors and scale,

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it's not just - I typed
an email send it to one,

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or I create an engagement
letter sent to one.

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It's using the
efficiencies of technology

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that can at the vanguard

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be AI but really
doesn't need to.

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In the vast majority of
cases it's just having

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good practice
management software

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to create efficiencies,

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for the advisor that ended

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up ironically, even
though you have to spend

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less time, creating a
better client experience

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and one that's more
customized to the individual,

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It gives them more
visibility into what's

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going on, what's coming next.

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The third phase which I
think only a handful of

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firms are really investing
in fully tapping into,

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which is totally fine. I don't

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think the client expectation is

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there is around
customized insights.

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How do you not just deliver
it efficient workflow?

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But how do you at the outset

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of a tax season demonstrate
to your client,

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you already know some stuff
about them from prior years,

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here's why we really
need just to tweak that.

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Showing your work.

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Here is all the different
analysis that we

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ran in the completion of

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your return or the
discussions that we

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had at the end of the process.

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Yes, here's a completed
tax document or analysis

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that you requested but
also here's what it means.

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I think that ability to both
give insights to people

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and we leave clients like they

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actually understand tax,

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the tax process, the work that
you did is going to create

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massive benefits in terms
of client's willingness

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to pay, their retention,
their happiness, etc.

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Very few firms are
at a Phase 3 in

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our opinion. You don't
need to be concerned if

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you're not because there
are a few if any are,

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but certainly making sure that

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you've put in place or have

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the opportunities to go into

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next tax season and
really nail Phase 2.

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I think that will put advisors
in a great place to really

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capture what is happening
on the vanguard in Phase 3.

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April Walker: We definitely
hear from people and

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when I'm out talking to firms,

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people who are definitely
still in that Phase 1,

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where they transferred
to cloud. That seem like

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a huge deal and leaning
into some technology,

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but maybe taking that next step

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into [phase] two
even is difficult.

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Do you have any advice
or thoughts on that?

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Because everyone is so busy
and it's hard to figure out,

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especially if you're
a really small,

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it's hard to figure out how
to take that time and really

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invest in trying to
get to that next step.

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Any ideas or suggestions there?

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I think the good news
is, there are a lot of

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very good practice
management software

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that did not exist
or did not have

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the robustness that they
do today five years ago.

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One of the things to consider in

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evaluating the
different choices is,

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ensuring that you
price in the value of

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your time as a practice
leader. In that

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there is a learning
curve on anything,

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no matter how good
the technology is.

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There are some that I
think are much cheaper

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and may have the technologies

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you want to check the box on,

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but I think really understanding

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what is the on-boarding
team look like?

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What does the client
success infrastructure

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of that solution look like?

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Who's gonna make it as
easy as possible to set

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you and in many cases your

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team up to use it successfully?

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To answer issues that will

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inevitably arise
from any change.

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I think we have over-invested in

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those resources because we know

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there's a lot of change
and fully transitioning

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the way that you think about
practice management some of

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the potential third-party
software you can

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plug in etc. That's important.

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I think whatever approach

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that you take whether it's
working with Harness,

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or a whole host of

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other solutions that are out
there that are very good.

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I think just making sure
that you understand,

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what are the
functionality each have,

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what's gonna be
accretive to the way

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that you want to work and

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your staff and
perhaps your clients?

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But also what's the
process going to be to

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fully utilize and take
advantage of that.

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Those are some good
thoughts and just

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maybe if we can talk
about a few examples

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of ways that firms can use
practice management tools

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to really help them

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because this is really
what it's about.

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It's about helping
not having to have

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an Excel spreadsheet of clients
and that's all you have.

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I'm not saying that's what

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our firms have, I'm just saying,

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I was in practice for some
time and I remember that.

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What are some ways you can use

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tools to really
advance your practice?

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David Snider: I think
there's external components.

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How do you enhance the
way that your clients

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perceive their process. And
then there are internal things.

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How do you ensure that you don't

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miss a filing. The reason
that advisors have

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Excel is just a
mechanism to ensure that

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they do the work

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for their clients that
the clients expect.

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I think on the external side,

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the more frequently you're

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interacting with clients
around the tax process,

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generally the better, not in an

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annoying way, but I
think tax is something

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clients generally don't want to

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think about but definitely
want to get right.

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It's no different
than a patient coming

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in to a doctor if
they have an issue,

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but don't really
totally understand it.

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Having a solution
that allows you

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to email before
the season starts,

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to preview of what's to come

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and the deadlines and
things that are upcoming.

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What do you need
from your clients?

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What is the engagement
going to look like

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from a pricing
standpoint going to be?

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Being able to send out

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engagement ladders
that reflect that.

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So someone feels
like they weren't

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surprised because they had

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exactly what's being done for
them and the pricing terms,

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etc, outlined being laid out.

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Having the client
questionnaire customized

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ideally to what the clients

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already told you
in previous year.

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So it feels intelligent.
Not like you're starting at

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day one every year with

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the same advisor or around
your materials etc.

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All that stuff is beneficial,

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being able to update them that

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I've received everything I need.

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Or expect to hear from me

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this time in March for business
filing. Aspirationally,

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late March not April
14th but whatever that

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may be for the draft filing

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what their advisors
recommended, etc.

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Or at extension deadlines.

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That stuff all again

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can be done without moving
your practice to Phase 2.

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But it's going to
be dramatically

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more time consumptive. And it's

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stuff that you can't

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bill and price for in
the way that you want.

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Because there are lots
of other tax firms

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that have already made

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those investments and
therefore they can do

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those things with very
little time invested.

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Internal stuff is really
around collaboration,

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tracking, knowing what clients have
uploaded what, who has been filed,

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who's working on documents, etc.

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Where are they in the process?

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Have they paid?

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The more visibility you have,

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the easier it is
to spend each day,

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not driven by who is pinging

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you over and over in your inbox,

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but who actually needs

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something based upon
external deadlines

00:10:09.240 --> 00:10:11.700
or prioritization or the revenue

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they're going to drive.
Wherever that may

00:10:12.840 --> 00:10:14.370
be as you think about,

00:10:14.370 --> 00:10:16.620
being the quarterback of

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your practice rather
than playing defense.

00:10:18.660 --> 00:10:20.280
Or just having the scrimmage

00:10:20.280 --> 00:10:21.720
run towards you over and over

00:10:21.720 --> 00:10:23.430
again during tax season
and hoping you're

00:10:23.430 --> 00:10:25.589
still standing at the end of it.

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April Walker: Yes. I
love football analogy.

00:10:29.190 --> 00:10:32.655
I was just in Minnesota to
watch my Tar Heels play.

00:10:32.655 --> 00:10:36.045
My first trip to Minnesota
anyway, it was fun.

00:10:36.045 --> 00:10:39.000


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David Snider: I went to the
Super Bowl when the Patriots

00:10:40.560 --> 00:10:43.260
played there against the
Eagles a number of years ago.

00:10:43.260 --> 00:10:44.909
It was bone chilling.

00:10:44.909 --> 00:10:48.870
April Walker: Yes, we're recording
this in early September.

00:10:48.870 --> 00:10:50.835
it will come out in
a couple of weeks,

00:10:50.835 --> 00:10:53.445
and what we're really
thinking about,

00:10:53.445 --> 00:10:56.550
and what I hope are
practitioners are thinking

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about is year-end
planning, and boy,

00:11:00.720 --> 00:11:05.745
there's a lot to talk about
with impending legislation,

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there's Tax Cuts and
Jobs Act sun setting.

00:11:08.385 --> 00:11:11.490
There's a lot going
on for you to be

00:11:11.490 --> 00:11:15.075
in front of your clients
and prevent your value.

00:11:15.075 --> 00:11:17.730
Talk a little bit
about how technology

00:11:17.730 --> 00:11:20.370
might assist you with some of

00:11:20.370 --> 00:11:22.830
those conversations,
or pulling data

00:11:22.830 --> 00:11:24.090
together to be able to

00:11:24.090 --> 00:11:26.610
help understand who you

00:11:26.610 --> 00:11:28.409
need to talk to you
and what about.

00:11:28.409 --> 00:11:31.320
David Snider: Number 1, I would
say and this is anecdotal,

00:11:31.320 --> 00:11:33.000
I don't have the
data to prove it.

00:11:33.000 --> 00:11:35.670
The majority of advisors do

00:11:35.670 --> 00:11:38.445
not proactively emailed
our clients in Q4,

00:11:38.445 --> 00:11:39.975
unless they need to collect

00:11:39.975 --> 00:11:42.345
certain things to do a
quarterly estimate, etc.

00:11:42.345 --> 00:11:44.790
That is a huge
missed opportunity.

00:11:44.790 --> 00:11:48.060
Even if you adopt no technology,

00:11:48.060 --> 00:11:51.210
take an hour, jot
down some thoughts,

00:11:51.210 --> 00:11:53.580
a few bullets on what

00:11:53.580 --> 00:11:56.040
could be at stake
in the election or

00:11:56.040 --> 00:11:58.530
the expiration of the
Trump tax cuts or of

00:11:58.530 --> 00:12:01.920
the estate tax exemption,
whatever it is.

00:12:01.920 --> 00:12:03.990
Then send something that seems

00:12:03.990 --> 00:12:05.160
thoughtful and obviously
it's going to be

00:12:05.160 --> 00:12:07.020
thoughtful from any practitioner

00:12:07.020 --> 00:12:08.700
who cares about
what they're doing.

00:12:08.700 --> 00:12:10.915
If you do that, you may think,

00:12:10.915 --> 00:12:12.650
I actually have the time

00:12:12.650 --> 00:12:14.270
to have something
more customized.

00:12:14.270 --> 00:12:15.650
A, you can use

00:12:15.650 --> 00:12:18.095
software at least to have it
be addressed to the person,

00:12:18.095 --> 00:12:20.860
even if it's a mass email
versus just a generic one.

00:12:20.860 --> 00:12:22.290
But then you could

00:12:22.290 --> 00:12:24.480
potentially also group
your clients and say,

00:12:24.480 --> 00:12:27.540
hey I've got 15
law firm partners

00:12:27.540 --> 00:12:30.690
and I've got 42
small businesses,

00:12:30.690 --> 00:12:32.145
and I've got a cohort

00:12:32.145 --> 00:12:35.355
of people with
multi-state issues, etc.

00:12:35.355 --> 00:12:37.035
I'm going to create

00:12:37.035 --> 00:12:39.465
three different end of
year planning emails.

00:12:39.465 --> 00:12:40.590
I'm going to categorize my

00:12:40.590 --> 00:12:41.640
clients and be able to send out

00:12:41.640 --> 00:12:44.685
something that's not individual,

00:12:44.685 --> 00:12:48.480
but that makes you feel
like April is really ahead

00:12:48.480 --> 00:12:50.070
of the curve in
terms of giving me

00:12:50.070 --> 00:12:52.515
insights that I
wouldn't have expected.

00:12:52.515 --> 00:12:55.260
Although it obviously
can be automated,

00:12:55.260 --> 00:12:58.770
but it takes the advisor
having the initiative

00:12:58.770 --> 00:13:01.260
to create that content

00:13:01.260 --> 00:13:04.290
and think about what's going
to be most useful for.

00:13:04.290 --> 00:13:06.510
When you do that, feel free

00:13:06.510 --> 00:13:09.825
to promote the scope
of what you can offer.

00:13:09.825 --> 00:13:13.710
Tax advisors are not the
world's sales-iest profession,

00:13:13.710 --> 00:13:16.380
and in many respects that
can be a good thing,

00:13:16.380 --> 00:13:17.220
but it also does you

00:13:17.220 --> 00:13:18.840
a disservice where
your clients don't

00:13:18.840 --> 00:13:21.825
know what type of things
might be beneficial.

00:13:21.825 --> 00:13:24.180
For that end of
the year planning

00:13:24.180 --> 00:13:26.040
to small business
owners be like, hey,

00:13:26.040 --> 00:13:29.280
you're thinking about
possibly selling or

00:13:29.280 --> 00:13:32.730
transferring a chunk of
the business to a child,

00:13:32.730 --> 00:13:33.750
or an employee,

00:13:33.750 --> 00:13:35.235
or selling outright, etc.

00:13:35.235 --> 00:13:36.780
There are a whole bunch of
things that you should be

00:13:36.780 --> 00:13:38.490
thinking about now,

00:13:38.490 --> 00:13:40.410
potentially some things
that may involve

00:13:40.410 --> 00:13:43.745
tax decisions this
year versus next year.

00:13:43.745 --> 00:13:45.194
: I can be helpful with that.

00:13:45.194 --> 00:13:47.685
David Snider: I think
highlighting the opportunities

00:13:47.685 --> 00:13:49.650
around that and giving
people the ability

00:13:49.650 --> 00:13:52.185
to opt in for more
complex planning

00:13:52.185 --> 00:13:53.865
is going to be really accretive.

00:13:53.865 --> 00:13:55.605
But yes, whether it's

00:13:55.605 --> 00:13:57.750
Harness practice management
solution or others,

00:13:57.750 --> 00:13:59.970
there are definitely
ways to customize,

00:13:59.970 --> 00:14:02.700
the messaging, the cohorts,
some of that stuff.

00:14:02.700 --> 00:14:04.380
But it really starts with

00:14:04.380 --> 00:14:06.390
the advisers sitting
down and saying,

00:14:06.390 --> 00:14:08.895
what is potentially meaningful

00:14:08.895 --> 00:14:11.250
on the horizon for
my clients and

00:14:11.250 --> 00:14:16.305
how much time energy do I want
to take to customize that?

00:14:16.305 --> 00:14:18.390
Maybe it's one generic

00:14:18.390 --> 00:14:18.930
one and there are

00:14:18.930 --> 00:14:20.490
ten clients that really
move the needle.

00:14:20.490 --> 00:14:23.040
These are my 10k plus clients,

00:14:23.040 --> 00:14:24.600
whatever the threshold, may be.

00:14:24.600 --> 00:14:26.760
I actually want to
spend some time and

00:14:26.760 --> 00:14:29.190
really make them
feel that I'm paying

00:14:29.190 --> 00:14:32.910
attention to their
holistic needs

00:14:32.910 --> 00:14:35.174
and how I can be
strategic to them.

00:14:35.174 --> 00:14:38.010
April Walker: A lot of
times we hear people say,

00:14:38.010 --> 00:14:39.840
I don't want to
bother my clients.

00:14:39.840 --> 00:14:42.855
But I feel like on
the other side,

00:14:42.855 --> 00:14:44.505
they really want
to hear from you.

00:14:44.505 --> 00:14:46.380
They want to hear from you
when you have something to

00:14:46.380 --> 00:14:51.120
say that's really important
and crucial to them.

00:14:51.120 --> 00:14:53.535
I think it's important.

00:14:53.535 --> 00:14:56.155
That's a great point
you made about

00:14:56.155 --> 00:15:01.010
reaching out in some way
fourth quarter of 2024,

00:15:01.010 --> 00:15:02.075
because like we said,

00:15:02.075 --> 00:15:04.520
there's a lot of different
things that you could

00:15:04.520 --> 00:15:07.489
bring up that are specific
to their situation.

00:15:07.489 --> 00:15:09.210
David Snider: Honestly, my

00:15:09.210 --> 00:15:10.650
view and it's just
a personal view,

00:15:10.650 --> 00:15:15.330
having now been in this
industry for several years

00:15:15.330 --> 00:15:18.450
is book-ended communications are

00:15:18.450 --> 00:15:21.345
extraordinarily rare and
extraordinarily valuable.

00:15:21.345 --> 00:15:23.490
What I mean by that
is communication

00:15:23.490 --> 00:15:25.665
before the season starts,

00:15:25.665 --> 00:15:26.940
the more customized, the better,

00:15:26.940 --> 00:15:28.200
but at least something.

00:15:28.200 --> 00:15:29.805
And the same thing at the end,

00:15:29.805 --> 00:15:33.330
that even after the client
has signed a return,

00:15:33.330 --> 00:15:34.680
you've completed some analysis,

00:15:34.680 --> 00:15:38.445
that post-season follow up.

00:15:38.445 --> 00:15:39.810
If it's just previewing when

00:15:39.810 --> 00:15:41.610
they think about bringing
for the next year or

00:15:41.610 --> 00:15:43.575
some of those planning
opportunities

00:15:43.575 --> 00:15:46.575
goes a really long way I
think in demonstrating value.

00:15:46.575 --> 00:15:50.070
I'm seeing advisers do
the presentation of

00:15:50.070 --> 00:15:52.950
insights through Loom videos

00:15:52.950 --> 00:15:55.770
and other things that I think
is also an element of that.

00:15:55.770 --> 00:15:58.050
Which is do more than deliver

00:15:58.050 --> 00:16:01.200
the bare minimum of the
compliance requirements,

00:16:01.200 --> 00:16:04.200
and you will stand out and
generate a tremendous amount

00:16:04.200 --> 00:16:07.185
of goodwill from your clients
in whatever form it takes.

00:16:07.185 --> 00:16:10.650
A Loom video, something
semi customized,

00:16:10.650 --> 00:16:14.490
something even generic
will be helpful to a lot

00:16:14.490 --> 00:16:16.499
of the people that
you work with.

00:16:16.499 --> 00:16:19.710
April Walker: Just thinking
about some clients

00:16:19.710 --> 00:16:23.085
you may have worked with,
with Harness tax, do you

00:16:23.085 --> 00:16:26.520
have any success stories
that come to mind where

00:16:26.520 --> 00:16:31.829
technology really improved
someone's practice?

00:16:31.829 --> 00:16:33.855
David Snider: I think we have

00:16:33.855 --> 00:16:36.855
two different types of advisors
that we principally help.

00:16:36.855 --> 00:16:42.165
The one is a practice
with one to 25 employees

00:16:42.165 --> 00:16:43.980
under 10 million
of revenue that's

00:16:43.980 --> 00:16:47.835
really making an
investment. [They say]

00:16:47.835 --> 00:16:49.575
we've got a good business,

00:16:49.575 --> 00:16:51.810
we're going to do
just fine regardless,

00:16:51.810 --> 00:16:54.270
but we also recognize to make it

00:16:54.270 --> 00:16:58.475
a- sustainable b-
to enable growth,

00:16:58.475 --> 00:17:00.220
we've got to be more efficient.

00:17:00.220 --> 00:17:03.580
And we want to not just be good
enough that clients don't leave,

00:17:03.580 --> 00:17:05.920
we want to be better.

00:17:05.920 --> 00:17:07.750
For a number of those practices,

00:17:07.750 --> 00:17:11.920
I think the combination
of a workflow,

00:17:11.920 --> 00:17:13.990
practice management
technology that can

00:17:13.990 --> 00:17:16.420
save a couple hours per

00:17:16.420 --> 00:17:18.610
client with some of
these automations of

00:17:18.610 --> 00:17:19.780
the client engagement letter or

00:17:19.780 --> 00:17:21.895
the intelligent
client questionnaire,

00:17:21.895 --> 00:17:24.220
the status updates, also

00:17:24.220 --> 00:17:25.600
supplemented by our client's

00:17:25.600 --> 00:17:27.130
success team that can help field

00:17:27.130 --> 00:17:29.470
those level 1 questions
that may come into

00:17:29.470 --> 00:17:32.935
the advisor. They're not
necessarily required to answer.

00:17:32.935 --> 00:17:34.915
They don't require
tax expertise, etc.

00:17:34.915 --> 00:17:36.835
All that stuff gets unburdened.

00:17:36.835 --> 00:17:38.920
Those firms have then
been able to take

00:17:38.920 --> 00:17:41.770
advantage of new
referrals that they

00:17:41.770 --> 00:17:43.150
generate and a whole bunch of

00:17:43.150 --> 00:17:44.950
Harness generated
clients. One of

00:17:44.950 --> 00:17:46.720
the earliest practices that came

00:17:46.720 --> 00:17:49.315
onto the platform has grown,

00:17:49.315 --> 00:17:53.575
I think 80, 90% across
two seasons because

00:17:53.575 --> 00:17:55.390
the practice leader is getting

00:17:55.390 --> 00:17:57.175
a lot more leverage

00:17:57.175 --> 00:17:58.930
and amount of time that she
spends with each client.

00:17:58.930 --> 00:18:00.490
She's gotten more resources to

00:18:00.490 --> 00:18:02.440
talk about in the conversation.

00:18:02.440 --> 00:18:03.520
They don't use

00:18:03.520 --> 00:18:06.475
the network of tax
attorneys that we have

00:18:06.475 --> 00:18:08.680
or some of the
other softwares and

00:18:08.680 --> 00:18:11.800
database that they have access
to through our platform.

00:18:11.800 --> 00:18:14.650
The other group are
people that have been at

00:18:14.650 --> 00:18:18.660
top 50 firms for a
variety of reasons

00:18:18.660 --> 00:18:20.580
feel like now is
the time to be more

00:18:20.580 --> 00:18:22.860
entrepreneurial to create
their own practice.

00:18:22.860 --> 00:18:25.080
There's tremendous
demand for people

00:18:25.080 --> 00:18:28.680
that have specialization,
nimbleness,

00:18:28.680 --> 00:18:31.840
a willingness to create a
great experience. And one

00:18:31.840 --> 00:18:33.310
that joined had been at

00:18:33.310 --> 00:18:35.470
a top 50 firm to create
his own practice

00:18:35.470 --> 00:18:37.825
and his first-year
was able to generate

00:18:37.825 --> 00:18:40.915
over a quarter million
dollars of revenue.

00:18:40.915 --> 00:18:43.795
And that really came from day 1,

00:18:43.795 --> 00:18:47.245
adoption of Harness' technology,

00:18:47.245 --> 00:18:49.690
a few other components
to that workflow,

00:18:49.690 --> 00:18:51.790
and the ability to really

00:18:51.790 --> 00:18:54.190
highlight some areas
of specialization,

00:18:54.190 --> 00:18:55.990
and to take a lot of
clients that came

00:18:55.990 --> 00:18:58.510
through our consumer-facing side

00:18:58.510 --> 00:19:00.595
that brings in clients
and distributes those to

00:19:00.595 --> 00:19:02.725
the right advisors
to serve them.

00:19:02.725 --> 00:19:04.780
It's really a powerful
combination that

00:19:04.780 --> 00:19:07.270
no matter how good
your practice seems,

00:19:07.270 --> 00:19:09.550
if you free up hours and

00:19:09.550 --> 00:19:11.815
you position yourself well,
you're going to grow,

00:19:11.815 --> 00:19:15.010
and I think giving
yourself that time,

00:19:15.010 --> 00:19:18.280
especially in Q4, to really

00:19:18.280 --> 00:19:19.690
think through what
are ways that you can

00:19:19.690 --> 00:19:21.970
generate, create more value.

00:19:21.970 --> 00:19:23.470
Maybe capture a fraction of

00:19:23.470 --> 00:19:24.580
that incremental value for

00:19:24.580 --> 00:19:26.260
existing clients and
create the space for

00:19:26.260 --> 00:19:27.730
you to take on new
ones that would be

00:19:27.730 --> 00:19:30.310
incrementally valuable
is wonderful.

00:19:30.310 --> 00:19:34.405
And we've certainly seen that
just in the top-line value,

00:19:34.405 --> 00:19:37.030
and then in really high
Net Promoter Scores of

00:19:37.030 --> 00:19:38.440
the clients that
are being served by

00:19:38.440 --> 00:19:40.599
advisors using our technology.

00:19:40.599 --> 00:19:42.760
April Walker: We'll go live
before the end of September

00:19:42.760 --> 00:19:44.410
so hopefully this will be

00:19:44.410 --> 00:19:46.255
valuable information for people

00:19:46.255 --> 00:19:48.340
and we talk about growing.

00:19:48.340 --> 00:19:50.680
Sometimes firms don't want
to grow because they feel

00:19:50.680 --> 00:19:53.275
like they have too much
going on at the time.

00:19:53.275 --> 00:19:55.150
But what we have talked about

00:19:55.150 --> 00:19:56.860
and heard and I'm
sure you'll echo

00:19:56.860 --> 00:20:01.300
this is sometimes you need
to grow in a different way.

00:20:01.300 --> 00:20:04.915
Like you need to cull some
clients and really focus on

00:20:04.915 --> 00:20:09.849
growing your experience with
those really good clients.

00:20:09.849 --> 00:20:11.800
David Snider: Grow
your free time,

00:20:11.800 --> 00:20:14.665
grow your client value and or

00:20:14.665 --> 00:20:16.270
grow the amount
of money that you

00:20:16.270 --> 00:20:18.354
pocket at the end of
the year I think.

00:20:18.354 --> 00:20:20.740
April Walker: All three,
I'm going to say check,

00:20:20.740 --> 00:20:21.850
check, check for me.

00:20:21.850 --> 00:20:25.090
David it's been

00:20:25.090 --> 00:20:26.605
lovely chatting with you today.

00:20:26.605 --> 00:20:29.604
Any final thought as
we're wrapping up?

00:20:29.604 --> 00:20:32.635
David Snider: I think we're turning
back to that initial theme,

00:20:32.635 --> 00:20:36.670
if you are an advisor in
Phase 1 where you adopted

00:20:36.670 --> 00:20:41.020
some technology probably
7-10 plus years ago.

00:20:41.020 --> 00:20:42.880
It's really important, I think,

00:20:42.880 --> 00:20:45.910
to get ahead of
clients expectations,

00:20:45.910 --> 00:20:47.770
which I think will rise as

00:20:47.770 --> 00:20:48.925
more advisers are using

00:20:48.925 --> 00:20:51.250
technologies to create
a better experience.

00:20:51.250 --> 00:20:54.430
But don't also get anxious
thinking, oh if I don't have

00:20:54.430 --> 00:20:58.060
a fully outsourced AI practice

00:20:58.060 --> 00:21:01.210
that I'm behind the curve
or my job's going away.

00:21:01.210 --> 00:21:05.875
There is secular growth in
demand for tax services,

00:21:05.875 --> 00:21:08.170
and the more that you can devote

00:21:08.170 --> 00:21:11.875
time to areas that
you are advising,

00:21:11.875 --> 00:21:14.320
building relationships,
strengthen relationships.

00:21:14.320 --> 00:21:16.690
You will thrive in
this profession,

00:21:16.690 --> 00:21:22.480
but don't sit in the same
as last year mentality.

00:21:22.580 --> 00:21:25.575
Look at what is going well,

00:21:25.575 --> 00:21:27.060
look at what's going to
create the most value

00:21:27.060 --> 00:21:28.425
for you and your clients and

00:21:28.425 --> 00:21:29.985
make those investments
of time and

00:21:29.985 --> 00:21:31.999
in some cases, expenditure.

00:21:31.999 --> 00:21:34.480
April Walker: Great thoughts.
You've been with us

00:21:34.480 --> 00:21:37.210
before so you know
that in closing on

00:21:37.210 --> 00:21:39.760
these podcasts we're Tax
Section Odyssey. We're

00:21:39.760 --> 00:21:42.670
taking a journey together
toward a better profession.

00:21:42.670 --> 00:21:44.650
But I also like to think about

00:21:44.650 --> 00:21:47.500
other journeys outside
of tax, so David,

00:21:47.500 --> 00:21:50.455
share a page from
your travel journal,

00:21:50.455 --> 00:21:53.965
a trip coming up or something
you've just recently done.

00:21:53.965 --> 00:21:56.830
You already had a spoiler
with the Super Bowl trip,

00:21:56.830 --> 00:21:59.080
so that was cool.

00:21:59.080 --> 00:22:00.250
David Snider: That's
way in the rearview, I

00:22:00.250 --> 00:22:01.660
don't think the Patriots are

00:22:01.660 --> 00:22:04.360
making a run this here unless
something dramatic changes,

00:22:04.360 --> 00:22:06.705
but the trip excited
about I'm heading

00:22:06.705 --> 00:22:09.645
actually tomorrow
night to Barcelona,

00:22:09.645 --> 00:22:14.220
watch the America's Cup
race as a father-sons trip.

00:22:14.220 --> 00:22:17.935
Always been a big
sailor before my time.

00:22:17.935 --> 00:22:19.075
He spends a lot of

00:22:19.075 --> 00:22:21.190
the summer and now
year-round in Rhode Island,

00:22:21.190 --> 00:22:22.540
and so that used to be
where the America's

00:22:22.540 --> 00:22:23.620
Cup always was held

00:22:23.620 --> 00:22:26.620
and for the last
almost 40 years,

00:22:26.620 --> 00:22:28.540
I think it's been elsewhere,

00:22:28.540 --> 00:22:30.205
and so we decided
rather than just wait,

00:22:30.205 --> 00:22:33.970
we will take the trip. So
we're hoping that Team USA,

00:22:33.970 --> 00:22:36.100
American Magic can at least

00:22:36.100 --> 00:22:37.810
win the Louis Vuitton cup to be

00:22:37.810 --> 00:22:39.729
the challenger
against New Zealand.

00:22:39.729 --> 00:22:41.515
April Walker:
Worst-case scenario,

00:22:41.515 --> 00:22:43.660
enjoy some time in Spain.

00:22:43.660 --> 00:22:48.670
[LAUGHTER] Which doesn't sound
like a bad plan for me to.

00:22:48.670 --> 00:22:49.809
David Snider: Exactly.

00:22:49.809 --> 00:22:52.105
April Walker: Thanks
again so much, David.

00:22:52.105 --> 00:22:55.570
Again, this is April Walker
from the AICPA Tax Section.

00:22:55.570 --> 00:22:57.280
This community is
your go-to source

00:22:57.280 --> 00:22:58.690
for technical guidance and

00:22:58.690 --> 00:23:00.430
resources designed
especially for

00:23:00.430 --> 00:23:03.085
CPA tax practitioners
like you in mind.

00:23:03.085 --> 00:23:06.400
This is a podcast from
AICPA and CIMA together as

00:23:06.400 --> 00:23:08.020
the Association of International

00:23:08.020 --> 00:23:09.550
Certified Professional
Accountants.

00:23:09.550 --> 00:23:11.320
You can find us
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00:23:11.320 --> 00:23:13.810
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feel free to follow us,

00:23:13.810 --> 00:23:16.120
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00:23:16.120 --> 00:23:17.950
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00:23:17.950 --> 00:23:20.200
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You can also find us at

00:23:21.700 --> 00:23:25.540
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find our other episodes

00:23:25.540 --> 00:23:28.165
as well as resources
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00:23:28.165 --> 00:23:31.104
Thank you so much for
listening and happy fall.

00:23:31.104 --> 00:23:33.010
MALE_1: This content
is designed to

00:23:33.010 --> 00:23:35.260
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00:23:35.260 --> 00:23:37.510
the subject matter covered
and does not represent

00:23:37.510 --> 00:23:40.180
an official opinion or
position of the AICPA,

00:23:40.180 --> 00:23:42.220
The Association or CIMA.

00:23:42.220 --> 00:23:44.800
It is provided with the
understanding that they are not

00:23:44.800 --> 00:23:46.480
engaged in offering
legal accounting

00:23:46.480 --> 00:23:47.950
or other professional services.

00:23:47.950 --> 00:23:51.205
If such advice or expert
assistance is required,

00:23:51.205 --> 00:23:52.495
the services of a competent

00:23:52.495 --> 00:23:54.250
professional person
should be sought.

00:23:54.250 --> 00:23:56.590
The AICPA, The Association and

00:23:56.590 --> 00:23:59.065
CIMA make no
representations, warranties,

00:23:59.065 --> 00:24:01.900
or guarantees as to and
assume no responsibility

00:24:01.900 --> 00:24:03.415
for the content or

00:24:03.415 --> 00:24:05.590
application of the
material contained herein,

00:24:05.590 --> 00:24:07.690
and especially
disclaim all liability

00:24:07.690 --> 00:24:08.860
for any damages arising

00:24:08.860 --> 00:24:10.180
out of the use of reference

00:24:10.180 --> 00:24:13.100
to over-reliance
on such material