What a brilliant company
If the bulk of your fee to your clients is the cost of the software rather than the cost of your time then you're not charging enough.
How much, per client, are you paying for the software? Work that out, then work out 5% of that, then pass that cost on to your clients. Or just have them buy you a coffee, which will probably cost more.
edit: I say that, on the assumption Tax Calc prices are reasonable, if you think they are already unreasonable then why not just go elsewhere?
I don't think a 5% increase is particularly huge in these days when, seemingly at random, some jump by 50% or 100%.
Is this some sort of tax based talcum powder?
Thanks, this has made my Friday afternoon
Thanks, this has made my Friday afternoon - obviously so good I posted twice, sorry!
Anyone with half a brain will realise Tax Talc is a world famous skin-care powder product applied to chafing tax bums, of which there are far too many up and down this great country.
It's what Jon Dickinson uses on his clients after bathing them, following completing their loan application forms, doing their shopping and cooking their tea.
The thing is, if you don't raise prices you never catch up.
(speaking generally, rather than in specifics).
If you don't add a few percent in year one, then your percentage increase in year two is lower as well.
Plus, if everything else is going up, why would your charges not be?
I would have to check back but I think Tax Talc have over recent years been well ahead of inflation with their increases.
Whilst I am now out of practice my employer still purchases their tax and accounts software for me to do its accounts and tax returns, whilst it tends to take a fair bit to get me to move supplier (I stuck with Tax Assistant for years until they eventually broke the camel's back) it is something I will do if a supplier gets too greedy.
What is the increase?
Edit-I see it is posted as 5%, slightly ahead of the curve re inflation but by itself not a killer, so it all depends what last year and the year before that were.
I assume this is tongue in cheek. Have you looked at the competitors pricing ?
If a 5% increase on not a lot is crucial to your practice you are in deep doo-doos
Pick your top 5 fee paying clients and increase their fees by 1%. That way you make more profit and can smile again