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Case Study

What It’s Like to Use Tax Planning Software for Accountants

Goals Goals

  • Learn how to do tax planning
  • Increase clients’ tax savings
  • Increase the revenue of the firm

Key Benefits Experienced Key Benefits Experienced

  • Expanded the firm beyond accounting and CFO services
  • Created tax plans for multiple clients within months
  • Understanding of several tax planning strategies

Each tax plan I do gives me more and more confidence. It only takes me minutes to do each tax plan, so the time to value ratio is off the charts. Having never done tax planning manually before getting the software, I’m probably a little spoiled because I know I’m saving myself a lot of time just by clicking a button to do all the calculations and create a ready-to-send deliverable.”

MATT DYBING, CPA

Matt Dybing, CPA, started his own practice in 2017 concentrating on monthly bookkeeping, accounting and CFO services. He wanted to start offering tax services, but didn’t have the experience. Knowing that many of the most profitable firms do tax planning, he understood that learning tax planning was a step he’d have to take at some point. He decided to commit to it in November of 2020 by investing in Corvee Tax Planning software.  

CFO Begins Using Tax Planning Software for Accountants

Mr. Dybing thought that tax planning could seem intimidating for an accountant who hasn’t had much experience with taxes, which is true of many accountants. Tax planning is a completely different advisory service compared to CFO, which is why Mr. Dybing decided to invest in tax planning software for accountants:

Using tax planner software is a super easy way to get into the space of tax planning. Not having a background in taxes, like myself, it’s an intimidating advisory space to walk into. That said, the software is a great opportunity to get into the tax space without spending a ton of time on research, education and training—because you get on-the-job training as you do each tax plan.”

Mr. Dybing considers Corvee Tax Planning software for accountants as a resource in addition to a tool. This is because once inside the software, users are able to learn how each of the strategies are calculated. As Mr. Dybing explained, “The software basically has all the strategies in there for me, and I can educate myself on them as I work through each client’s tax plan. I get all the write-ups and get a good understanding of how the calculations work, so I think I’ve learned a lot about the different strategies and how they are implemented by going through the write-ups and the calculations.”

Having clear calculations within each strategy helps accountants to learn more about the intricacies of tax planning as they produce tax plans for clients. A great ancillary benefit for anyone who doesn’t have a background in tax is that your tax planning software for accountants can act as a teaching aid for firm owners and staff as they produce real, revenue generating tax plans for clients. 

Each tax plan I do gives me more and more confidence,” explained Mr. Dybing. “It only takes me minutes to do each tax plan, so the time to value ratio is off the charts. Having never done tax planning manually before getting the software, I’m probably a little spoiled because I know I’m saving myself a lot of time just by clicking a button to do all the calculations and create a ready-to-send deliverable.”

Client Collaboration Tax Planning Software for Accountants

Mr. Dybing admitted that he could be doing more, but he fears as he continues to grow his firm, he won’t have the human resources to deliver on services as he is accustomed to. So, he’s looking to hire additional resources to keep pace with the firm’s new growth, transitioning from just accounting and CFO services to adding tax planning as a primary service offering. 

Clients are happy with the tax plans thus far, and Mr. Dybing is happy with the technology that helps allow him to produce them.  

It’s very educational for me, since I don’t have a background in tax, to be able to really see all the strategies—all in one place. I like seeing all the calculations, including real time updating if I’m toggling between strategies. I’ll just scroll through the different strategies and click the ‘View Details’ button to learn more about a specific strategy. So again, the benefits are more than just the ability to prepare the tax plan, it’s the ability to have all this tax information in one place.”

There are also client collaboration features within Corvee Tax Planning software for accountants which allow firms to send and request files and create custom questionnaires. Mr. Dybing noted, “It’s been super helpful being able to send out the questionnaires and then be able to go in and just have everything in one place. I don’t have to fish for emails or look for docs in Google Drive.” 

As Mr. Dybing continues to use the tax planning software for accountants, he’s becoming more and more comfortable with doing tax plans. With this new tax planning ability, he is looking forward to a large growth in revenue this year by offering tax plans to both new and existing clients. Thanks to 7 Figure Firms, Corvee’s coaching and training program, his pricing and packaging are updated along with a more efficient sales process locked in. With these components in place, he looks forward to scaling in the coming months. 

For more information on how you can use this tax planning software technology in your firm, schedule a demo below.

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