Creating a Tax Savings Playbook - Cognito Forms
Follow these easy steps to create a Tax Plan Playbook for your tax planning clients.
Please note: Creating your Cognito Forms account this way (as a user in our account) allows me access to view your submitted entries. While I have no intention of going in and viewing your client's information, you may choose to create your own Cognito Forms Team account so that I would not have access to your client entries.
Pricing info (as of June 2019) Team $24 + $4 for the custom form
X Free account - Does not do Custom Document Templates (required)
X Pro Account - lacks data encryption - which we advise because you will be entering social security numbers into the form
To create your own Cognito Forms account (not a user on our account) click this link to create your account. Using this link gives you one free month
Once you have created your account, click this link to gain access to our template, then skip to Step 2 below.
Cognito Forms access from link
Step 1) Follow the personalized link emailed to you to set your password .
Step 2) Change the title and description if you are going to share this link with clients
Step 3) Share the link (in Publish) if you are going to share this link with clients
Step 4) After you have entered data for the first time and created your first entry, you must "publish" the form and make it live
Step 5) Decide if you want a PDF form (easy) or Word (full customization)
Step 6) Click "Create Document" to download the completed document (takes 20-60 seconds) and then print
TIP: Purchase 3 hole punched paper to save tons of time!
Here's what I use: https://www.amazon.com/Multi-Use-Letter-Loading-Reemless-3-Hole/dp/B001GKJ6NK/
Step 7) Put the printed plan in a 1 1/2" binder - See "Choosing a binder.."
Step 8) Print the cover (create it if it's your first one)
Step 9) Update and print the cover sheet - See "Cover Sheet"
Step 10) Update and print the "money map" diagram
Choosing a binder and printing a cover for your Plan
I recommend using a basic white 3 ring binder, 1.5 inch is sufficient for most tax plans.
Upgrade to a leather presentation binder for a more upscale look
AmazonBasics 3-Ring Binder, 1.5 Inch Rings - 4-Pack (White)
LEATHER PRESENTATION BINDER 1 1/4"- WITH WINDOW
Creating a Cover using Design Bold
I recommend using a program like Design Bold or Canva to make a really nice looking cover (if you are going to use a 3 ring binder) You can use this cover as a template by clicking here https://www.designbold.com/design/edit/gjZJ5Yrj95
Creating a Cover using MS Publisher
If you don't want to use an online tool like Design Bold or Canva, You can also use MS Publisher (if you have it) Download and refer to the templates below
Sample Tax Plan cover sheet (8.5 x 11) https://www.dropbox.com/s/mqyyymjkblt6ra5/binder%20cover.pub?dl=0
My Tax Plan cover sheet (Jake Adams) https://www.dropbox.com/s/c0d272xa7xb0lwo/binder%20cover%20-%20Jake.pub?dl=0
Creating a Cover using MS Word / Excel
Can you do it... Yes. Do I recommend it? No
Create a Tax Savings Report
Use Microsoft Word to create a Playbook report sheet
Step 1) Download the Tax Savings Playbook - Report template https://www.dropbox.com/s/ukgnzw020y8aiio/cover%20sheet.docx?dl=0
Step 2) Replace "[Your logo here]" with an image of your logo
Step 3) Replace "Prepared by:" info with your info
Step 4) Replace "[John Sample]" with your client's name
Step 5) Replace "[John]" with your client's name
Step 6) Remove or replace "Core 4" tax strategies as needed, do not do more than 4 strategies at a time, and keep this to one page
Step 7) Change the estimated savings if you think it will save the client more or less money
Step 8) Add up the savings and update the "First year estimated savings"
Step 9) Print and include as page one in your tax plan binder
Completed Tax Savings Playbook - Report - Christi Bender CPA https://www.dropbox.com/s/q3vezagj5jhxano/cover%20sheet%20-%20CB.docx?dl=0
Create a Tax Savings Report - Money Map
Download the Money Map diagram here https://taxsavingsteam.s3-us-west-2.amazonaws.com/S+Corp+diagram.pptx
Keeping track of kid's hours worked
Hours worked worksheet (weekly) - List pay rate and how many hours per week the children will or have worked. (ONE PAGE) https://www.dropbox.com/s/bcb2nj4l4wvqlaw/hours%20worked%20worksheet%20%28weekly%29.xlsx?dl=0
Hours worked worksheet (monthly) - List pay rate and how many hours per month the children will or have worked. (ONE PAGE) https://www.dropbox.com/s/hxkouscivf23plc/hours%20worked%20worksheet%20%28monthly%29.xlsx?dl=0
Template for pay stub https://www.dropbox.com/s/44osq5zz80x7l6x/Pay-Stub-Template.xlsx?dl=0
Important State Child Labor Laws
Use this info to ensure that your clients are compliant with state child labor laws when using the Hire Your Kids Strategy
Creating a Tax Plan
How to use the Tax Planner Generation System in Microsoft Excel to build presentable, actionable, and implementable tax plans
Follow these easy steps to create a Tax Plan Playbook for your tax planning clients
Step 1) Open the Workbook Master (Excel Doc for Microsoft Excel) https://www.dropbox.com/s/xpo0is157jpqzst/Workbook%20Master.xlsx?dl=0
Step 2) Enter the client's info on the "Info Sheet" tab (left-hand most tab
Step 3) Print out the required sheets and assemble the binder
Universal Table of Contents Dividers, 12-Tab, Months, Letter https://www.officesupply.com/office-supplies/binders-accessories/binder-accessories/printed-index-dividers/universal-table-contents-dividers-assorted-color-months-letter-white/p56782.html?q=monthly%20tabs
14 Day "Augusta Rule" Strategy Documentation
Keeping proper documentation is the key to substantiating this deduction, so it's important that clients have and hold a strategy meeting in their home that will help their business grow.
Use one or all of the templates below to help your clients stay compliant when taking this deduction
Gazelles GROWTHTOOLS (TM) Worksheet https://taxsavingsteam.s3-us-west-2.amazonaws.com/growth-tools-english-unbranded.pdf
Please note - Copyright 2018 Gazelles - this template is available for free at Scalingup.com
Monthly Meeting Agenda Template https://taxsavingsteam.s3-us-west-2.amazonaws.com/Sample+Monthly+Meeting+Agenda.pdf
Please note - Copyright 2019 Studer Group - this template is available for free at https://www.studergroup.com/resources/healthcare-tools/effective-meetings
Contact at least one hotel, meeting space, or country club to establish a market rate for a one day rental for a conference room in your area.
A sample Holiday Inn proposal (Note 40 Guests - Classroom was the smallest room size they had) https://taxsavingsteam.s3-us-west-2.amazonaws.com/Holiday+Inn+proposal.pdf