Dave Haase sits down with Yehuda Tenenbaum, EA and founder of Y10 Tax Solutions, to explore his journey from reluctant do-it-yourselfer to successful tax professional. Yehuda shares how he transitioned from running finances for his wife's summer camp to building his own accounting firm, making the leap to full-time practice in December 2023. Their conversation reveals why the current landscape offers unprecedented opportunities for new tax professionals willing to carve out their own niche.

The discussion dives deep into client management strategies that separate successful practices from struggling ones. Yehuda and Dave explore the critical importance of setting boundaries, firing problem clients, and how A-plus clients who pay on time and communicate well often receive unlimited access to their accountants. They also tackle the role of AI in tax preparation, explaining why professional expertise remains irreplaceable for complex tax situations and behavioral change management, even as technology advances.

Key topics covered:

[00:00] Intro

[01:00] From Summer Camp CFO to Tax Pro

[02:13] Choose Your Own Adventure in Accounting

[03:37] Why AI Won't Replace Tax Professionals

[05:20] The Value Proposition of Professional Tax Help

[08:10] Building Client Relationships Through Results

[10:20] Setting Boundaries with A-Plus Clients

[12:04] The Emotional Impact of Financial Services

[14:50] Energy Management and Difficult Clients

[17:26] Specialization vs Complex Tax Returns

[20:12] Building Professional Networks for Support

[22:00] Deep Learning and Reading IRS Instructions

[24:27] Meeting the Guy Who Writes Form 1116

[25:47] Practical Continuing Education with Real Returns

[27:05] Connect with Yehuda and Final Thoughts

This episode offers practical insights for both new and experienced tax professionals looking to build sustainable, profitable practices while maintaining their sanity during tax season.

The Modern Tax Pros Podcast is brought to you by Juno, AI tax prep software built for tax pros who are sick of 60-hour weeks.

Hosted on Acast. See acast.com/privacy for more information.

Dave Haase sits down with Joel Yaeger, CPA and Founder of CMPD Wealth Advisory & Tax, to explore how modern tax firms are evolving beyond traditional compliance work. Joel shares his vision of creating a true one stop shop that integrates tax planning, wealth management, and eventually legal services under one roof, eliminating the coordination challenges clients face when working with separate advisors.

The conversation dives into Joel's acquisition strategy for accounting and RIA firms, revealing what he looks for in potential targets and how AI tools are changing the economics of firm rollups. Joel explains how his team uses technology to elevate junior staff from mundane document processing to meaningful tax preparation work, creating better career paths while improving client service. They discuss the shift from tax season being a frantic compliance rush to a more strategic year round planning approach, where the real value lies in advisory services rather than just filing returns.

Key topics covered:

[00:00] Intro

[01:30] Integrated Tax and Wealth Planning Vision

[03:26] One Stop Shop Strategy for Clients

[06:07] Cross Selling Wealth Management to Tax Clients

[08:41] Real Estate Professional Strategy Example

[11:22] Acquisition Criteria for Accounting Firms

[14:54] Tech Stack Requirements for M&A

[18:37] AI Transforms Lower Level Staff Into Heroes

[23:03] Admin Team Speaks Client Language Better

[26:19] Clean Data Entry Reduces Mental Stress

[31:01] AI Enables Volume Based M&A Strategy

[34:27] Showing Prospects Your AI Process

[36:42] Tax Season vs Tax Planning Season Split

[39:02] AI Suggests Strategies Staff Wouldn't Know

This episode offers practical insights for any tax professional considering how to position their firm for the future of the industry.

The Modern Tax Pros Podcast is brought to you by Juno, AI tax prep software built for tax pros who are sick of 60-hour weeks.

Hosted on Acast. See acast.com/privacy for more information.

Host Dave sits down with the father son team of Tony and Zach Amatore to discuss their remarkable journey building a multi-generational tax practice. Tony started his firm from scratch in 1985 after his mentor passed away, growing it to 750 clients before selling and eventually getting it back. Now he and Zach are rapidly scaling through strategic acquisitions, going from 400 to 2000 clients by January.

The Amatores share their approach to client management, including their A through F grading system where they actively fire D and F clients to focus on quality relationships. They discuss how AI tools like Juno have transformed their training process, turning mediocre preparers into efficient reviewers and helping new college graduates become productive much faster. Tony and Zach also dive into their tax planning success stories, including saving clients over 7 million dollars across 22 planning engagements in 2024.

The Modern Tax Pros Podcast is brought to you by Juno, AI tax prep software built for tax pros who are sick of 60-hour weeks.

Hosted on Acast. See acast.com/privacy for more information.