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One of the hardest things a business has to do is establish and enforce good business policies. Will you charge late fees and/or interest for late payments? Will you require payment for your services when the work is picked up? How long will you continue to do work for a client that is delinquent? Will you charge for extra copies of previously furnished copies of tax returns? What type of collection actions will you take to collect unpaid invoices?
Yes, it s sad but true, not all of your clients will pay you. I have established "company" procedures that I try and enforce with all of my clients. However, every case is different and many times your clients become your friends.
You have to like working with the public and be willing to accept the good with the bad things that are associated with this type work. One rule of thumb that I try and keep in mind is to treat my clients like I would like to be treated when I am the customer.
So, conduct a realistic assessment of your personality and your willingness to work with the public before starting tour tax preparation business. |