Last week, we walked you through a step-by-step system for using the new tax law to generate tax-planning engagements from your existing client base. And we promised that this week, we’d do the same for new clients.

To repeat – because I’m not afraid of repeating this point too much – the Tax Cuts and Jobs Act is a once-in-a-generation opportunity to use tax planning to build your business. Let the other tax professionals get lost in the weeds learning how to “do taxes” under the new rules. We’re going to leave them all behind because we’re going to focus on using planning to help clients pay less, demonstrate our superior value, and stand out from the crowd. We’re going to get out of the business of “recording history” (which is going to be automated in the next decade anyway) and move into the far more valuable, and lucrative, business of providing advice.

So here’s your system for using the new tax law to generate new clients. It’s ludicrously easy, because it involves just one single step. Ask prospects the all-new Magic Question 2018 Edition:

“Hey, what’s your tax professional doing to help you make the most of the new tax law?”

In most cases, as you’ve already guessed, the answer will be “nothing.” Maybe “nothing yet.” In that case, your answer should sound something like this:

“We haven’t had this much change in the tax code since 1986. There are some things that will happen automatically to help you save, like lower tax brackets. But if you own your own business, there are several really important choices you have to make to capture the most of the opportunity. And if you don’t do your planning now, you’ll lose those opportunities forever.”

In some cases, they’ll say “I got an email/letter/brochure telling me all about the new changes.” In that case, your answer should sound something like this:

“We haven’t had this much change in the tax code since 1986. There are some things that will happen automatically to help you save, like lower tax brackets. But if you own your own business, there are several really important choices you have to make to capture the most of the opportunity. And if you don’t do your planning now, you’ll lose those opportunities forever.”

You’ll think of something . . . .

Maybe . . . just maybe . . . they’ll tell you, “My tax pro told me this is a great opportunity to pay less, and we’re going to sit down after April 15 to do a plan.”

In that case, they’re already working with a TaxCoach member. See if you can get their contact info, sit down for lunch, and trade favorite planning strategies. You’ll both gain from the meeting, and there’s plenty of business to go around – the two of you will not get in each other’s way, I promise.

Seriously. Find one new business owner every day. Ask them the all-new Magic Question 2018 Edition: I guarantee you’ll see your business grow. You’ve just gotta get out there and do it.

Disclaimer: This blog was previously published at TaxCoachSystem.com. Tax Coach has become Tax Master Network. We didn't want our amazing clients, readers and interested tax friends to miss any of our archived content so please forgive any broken links or various referenced to Tax Coach options. update