Practicing in the IRA area
Hello,
I am a new registrant effective this post. My question if someone can answer: I am a tax practitioner and business adviser. I do not sell products but only provide tax and business services and related situations. For those of you who are active in this business of providing IRA advisory services, and do not sell a product, or have assets under management, how can one do this type of consulting work and garner fees providing IRA consulting advice?
I would also like to know what a fair fee is for a standard situation giving advice from the tax point of view; what clients are really looking for (non-obvious); and are they very interested in seeking out this advice from tax practitioners presently?
Thanks for your help and comments in advance.
Sincerely,
Raymond Khan, EA, MBA
Modesto, CA
209.521.6394 V
925.226.4904 F
Permalink Submitted by Joseph Arsenault on Tue, 2010-09-07 21:07
Your time for knowledge is worth what you feel it is worth, and what someone is willing to pay. IRA or no IRA, tax information can be free or paid for (usually you get what you pay for). If you work on specific transactions for client’s then thats just one niche of being a practitioner.
Not to be rude, but in all likely-hood, if you need to ask these questions your best off working underneath someone who can give you the experience necessary to work on your own at some point in the future. No one in a open forum can tell you what a fair fee is; as that depends on you, your clients, demographics, each unique circumstance, etc.
Permalink Submitted by Raymond Khan on Wed, 2010-09-08 18:44
Thanks, Joe for the info. Unfortunately, I am sort of a Maverick when it comes to learning from someone. I usually just ask questions and do a lot of research and “testing,” if you will. I will charge what I think is fair to the client and me. If I am saving them a lot of money, I think it is well worth the value they would pay me when illustrated.
Ray