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Case Study

Business Tax Planning Software Has Surprising Tax Management Benefits

Goals Goals

  • Find more tax planning strategies for clients
  • Create tax plans faster
  • Use a more professional system than email to send and receive documents

Key Benefits Experienced Key Benefits Experienced

  • More money saved for clients
  • More confidence in creating finalized tax plans
  • Time saved in back and forth with client collaboration

It was a daunting task to figure out what each client needed to do in order to save on taxes. That’s why I was so excited to find Corvee, because tax planning by yourself is a tough task.”

ERIC RESKIN, CPA

Eric Reskin, owner of Reskin CPAs, works to strategically grow businesses through financial advising and innovative tax planning. His goal is to create tailored strategies for clients in order to give them the greatest possible tax savings. Recently, Mr. Reskin invested in Corvee Tax Planning software to help facilitate this process.

Public Accountant to Business Tax Planning

For over 7 years, Mr. Reskin was in public accounting doing tax returns. He intuitively began to feel there was a ceiling on the amount of value he could create for clients while only doing tax preparation. “I wanted to make more money—sure—but I also knew I needed to become worth more,” he explained. “Just doing tax returns, it’s hard to be worth more because all you’re really doing is checking boxes for people.”

What he found was that even if he was really accurate (and he was), there’s only so much value in an accurate tax return. He began to look for other ways to serve clients and started becoming proactive during the tax off-season, finding a way to save one client over $20,000.  “It felt so good,” Mr. Reskin said. “I enjoyed helping them save that money. I was doing something valuable…and I knew I wanted to do more of it.”

He continued, “Word of mouth spreads when clients are happy so I got more new clients. It snowballed into me starting my own boutique accounting firm.”

Business Tax Planning Software Combined with Tax Management Software

Inside the new firm,100% of Mr. Reskin’s output was based on his own efforts, which meant his hours were long. He knew if he wanted to grow, he needed more people, but he also knew he needed to find the tools and technology that could scale his firm beyond just his own time.

CPAs undercharge what they are worth, and I knew I myself needed to continue to grow and become more valuable. For this reason I began listening to podcasts, webinars and little tax planning strategies here and there. I was self-taught and connected the dots. But it was a daunting task to figure out what each client needed to do in order to save on taxes. That’s why I was so excited to find Corvee, because tax planning by yourself is a tough task. I needed a tool that could help me leverage my time.”

What he’s since found is that he used Corvee extensively as a document request tool during tax season. “It’s a secure portal and it’s made my life a lot easier,” he explained about the client collaboration aspect of Corvee software. “It’s not just tax planning, it’s the convenience of also having a tax management tool.” 

For tax returns, he had been coming up with a full custom request list for each client for documents. Now, he is able to knock out a request list in under 30 seconds with some of the templates inside Corvee.

 “The software does the reminders, it tracks what’s coming in. It looks so much more professional than just sending an email,” Mr. Reskin said. 

He even noted that the client collaboration aspect of Corvee is a feature worth more than half the cost of Corvee by itself, not even counting the benefits of doing multi-entity, multi-year, multi-strategy tax plans. “If you’re a CPA or financial advisor, you have to understand that this software is so much more than just a tax planning tool, it’s a tax management tool. It saves so much time in client correspondence.” 

Tax planning is a significantly different business model than what most CPAs do, and Mr. Reskin has high hopes for the remainder of this year in doing comprehensive tax planning packages for many of his existing clients. While still needing to get his process nailed down, he knows he now has the tools and technology to make it all happen.

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