Last Updated 28 May 2020

The Importance In Affordable Accounting

Category Accounting, Bank, Tax
Essay type Research
Words 570 (2 pages)
Views 285

Our goal is to provide our ervices In a comprehensive and cost-competitive manner advantageous to our customers. Management Structure and Background The affordable accounting is a sole proprietorship owned by Ms. Thary Cheam. Ms. Cheam graduated from Marian Court College in 2001 with an Associate in Science degree In Accounting. She has worked for MMA Financials as an accounting auditor from 2002 to 2006. She's currently employed at State Street Bank and Trust Company as an Officer in Global Operations.

During her career at State Street Bank 1 OF6 volunteered to assist low income family filing Income Tax Return. As an experienced ndividual she will manage all aspects of business and service development to ensure effective customer responsiveness. Support services will be provided by a qualified part- time Accountant and an Administrative Assistant. Additional staff will be added as client work load factors mandate. Organization Chart Marketing Plan It is a requirement that all US employees must file their annual Income Tax Return.

The Affordable Accounting is a home-based Income Tax Preparation Service that utilizes trusted tax preparation software to file Income Tax Return for customers. Ms. Cheam intends on using a number of marketing strategies that will allow the Affordable Accounting to easily target individuals within the target market. These strategies includes referral bonus and student discount. The Affordable Accounting will also use an internet based strategy, such as FaceBook and Craiglist.

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This is a very important as many people seeking local services, such as tax preparers, now the Internet to conduct preliminary searches. The Affordable Accounting will be driven by referrals, so for the first few weeks, the business will need to be more aggressive in getting new clients, who will then pass the word on and the business can begin to xperience organic growth. Target Market Lynn Resident Revere Resident Saugus Resident Salem Resident The Affordable Accounting will position as a full-service accounting service that takes the time to get to know the client's situation.

Consumer clients primarily need annual tax filing services; however, in keeping with the position, the Affordable Accounting will also offer tax planning, personal budgeting, credit counseling, and checkbook reconciliation services. A special effort will be made to attract north shore residents who need someone to make deposits and bills while theyre away on vacation. Competitive Environment A few firms exist in Lynn to assist individuals with their annual income tax return.

Firm range from private individuals, Just preparing taxes to national chains, to accounting firms serving individuals and businesses, to CPA firms. A listing of the business offering accounting/tax preparation services in Lynn is as follow: Liberty Tax Service, Lynn, Ma H&R Block, Lynn, Ma Jackson Hewitt Tax Service, Lynn, Ma Almonte Income Tax, Lynn, Ma Price Strategy Personal/household tax preparation and filing prices are a function of the forms and schedules involved. A base charge is ($25) plus extra for each schedule ($10). Student tax preparation is charge at a flat rate of $25.

Personal consultant or other non-tax filing services will be priced out at the $20 hourly rate. Promotion A direct mail package consisting of letter of introduction and reply card will be sent to all Lynn, Revere, Saugus, and Salem resident. The letter introduces Affordable Accounting and provides information on services and what set it apart from other accounting services, and includes a referral bonus. As a means of building business by word-of mouth, present customers should be encouraged and rewarded for eferring future customers.

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