We’re excited to have Emily Purdon, Director of XY Tax Solutions (XYTS), and Sara Williams, Operations Specialist at XYTS, on the show today. We dive into what it’s like to roll outsourced tax prep under an RIA - specifically how to leverage experts to deliver great client experience, and how outsourcing can help you stay sane as you continue to scale your firm.
Today, Emily and Sara talk to listeners about compliance concerns related to offering outsourced tax prep, the pricing considerations when offering the service, and advice on how to generally ensure that you’re outsourcing at the right time. Be sure to explore the three new options for engaging with XYTS, because this year, XYTS is preparing to complete over 2000 tax returns, and they already have 700 secured.
If you’re interested in what it’s like to outsource tax preparation in your RIA, then this show is for you.
Listen to the Full Interview:
What You'll Learn from This Episode:
- An introduction of Emily Purdon and Sara Williams along with what XYTS is (00:02:46)
- What it means to offer tax planning and tax prep in a firm (00:07:49)
- How an advisor can incorporate XYTS into their business (00:10:48)
- As an advisor, how to explain outsourcing to your clients and how it should be seen as a success (00:15:30)
- An overview of what the compliance responsibilities are when you offer outsourced tax planning (00:22:15)
- What some of the common misconceptions are about outsourcing (00:26:19)
- When it becomes advantageous to outsource to save time (00:29:41)
- How to price tax prep (00:36:34)
- What to expect from working with XYTS and why advisors should work with them (00:40:24)
Featured on the Show:
- Emily Purdon: XYPN | LinkedIn
- Sara Williams: XYPN | LinkedIn
- XY Tax Solutions
- Outsourcing Tax Services as a Financial Advisor: Working Less to Achieve More
- Travis Johnson: Website
- Ep #236: Audits: The Do’s and Don’ts According to a Former Regulator: An Interview with Kingston Hollman
- FA Bean Counters
- Arlene Moss
- BB Webb
- Advice Pay
- Canopy Tax
- How To Choose The Best TAMP To Work With And Factors To Consider
This Episode is Sponsored By:
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