Back in 2018, I had a bad client experience that ended up being the richest learning experience to improve my tax advisory skills.
Technically, I was strong, and I’d been told many times that good tax advice is much more than just being technically correct
I knew that was true, but I didn’t understand the full extent of it – until this experience.
I share the story in this episode and then share 5 takeaways, 5 lessons, from that experience to help you provide better tax advice.
Click the play button above to listen or click on of the below links to go to the podcast player:
- Click here to listen on Apple Podcasts
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I hope you like this one. For the first time on the podcast, I’ve spent hours crafting the story so that I told it more interestingly and engagingly than I naturally would and so that the key message sticks in your minds better. That’s the idea anyway.
Please do let me know what you think: jack@thetaxprofessionalspodcast.com
Me – Jack Bonehill
LinkedIn: https://www.linkedin.com/in/jackbonehill94/
Email: jack@thetaxprofessionalspodcast.com
Timings
- Episode intro
- (5:15) Story about a bad experience relating to a bad tax-advisory client that I had back in 2018, which was the richest learning experience for me re improving my advisory skills
- (10:00) Five lessons/takeaways from the experience to help you become better at providing tax advice:
- (11:00) Lesson 1: Being technically correct doesn’t make the advice good – it’s just an essential part
- (12:00) Lesson 2: Your advice should be workable and what is meant by this
- (13:00) Lesson 3: Your advice should be definitive
- (14:00) Lesson 4: You should talk in the client’s language and bespoke your advice in all respects
- (15:15) Lesson 5: Longer advice does not equal more valuable advice
What does practical tax advice actually look like??
- Clients will like you more – and therefore working with them will be more enjoyable
- Clients will be more likely to work with you again (which means more client fees without salesly BD)
- Clients will be more likely to refer you (again, more client fees without salesly BD)
- Generally speaking, you will be in high demand
The Tax Advice Masterclass teaches you basically everything I know about providing good tax advice It’s taken me 9 years to learn, and I take it from my head and put it into yours.
You get the knowledge on HOW to provide high-quality tax advice. All you have to do is then implement it and practice.
Many advisors are good, but few are excellent. Hopefully you want to become the latter.