CaptCook wrote:Pure Peace wrote:If someone is not willing to pay you for your services or understand the amount of time and effort involved, why would you want such a person as a client?
Similarly, are the "friends and family" you mention not willing to pay someone to perform their work?
I love having friends and family as clients. Managing the relationship is so much easier and I already have their trust.
From my experience, they would pay someone else, but if that someone else was deemed "too expensive", they would look for me to give a "friends and family rate". By human nature, they would be more comfortable with me; leading to many random texts asking tax questions all hours of the day, asking me to take on their father's company which is "super simple" bc his accountant "charges too much".
I do have 2 particular friends (attorneys who understand the billable hour and such) who explicitly sought me out simply bc they wanted someone who knows his stuff and someone they could trust. They don't mind paying my fees at all and made sure to let me know that they "get it", regarding my billing. Of course I shave a little off my fees for them, but not too much.
I am happy that your situation is nothing like mine and that you are able to work well with friends and family. I do not think that friends and family expecting an extra level of service at discounted prices means they "are not true friends", that is just human nature.
I will take on simple 1040s from my family and friends, but as I mentioned, most are self employed/business owners with significant activity and transactions. I will not take any of those on, unless they "get it" about my billing.