rosenberg invites partners to join comp study

results to help firms determine changes for their partner income allocation systems.

rosenberg associates and grand valley state university are conducting a research project on partner compensation, seeking insight from firms across the country with three to 20 equity partners to better understand the advantages and disadvantages of partner income allocation systems and characteristics.

the survey, running until jan. 30, takes 5-10 minutes to complete. to take the survey,start here.

“we are thrilled to work with gvsu and professor chris harper on this project. the data revealed through this study will help firms evaluate how their compensation system compares to those of their peers and determine changes they may want to make that could enhance their firm’s overall future success,” says kristen rampe, cpa, managing partner at rosenberg associates.

chris harper, cpa, gvsu school of accounting professor, adds, “studies like these help the accounting industry learn data-backed perspectives on what works and what doesn’t for small to mid-sized firms. we are excited to see what we discover about partner compensation from this research.”

the 12 big questions for 2023

accounting leaders say these are the issues firms must face.

by 卡塔尔世界杯常规比赛时间 research

as gale crosley of crosley+consulting notes inthe 2022 rosenberg survey, we are in the midst of “an unusual year of high uncertainty, unpredictability and sapped energy among our profession’s leaders.”

more trends & outlook for 2023:the biggest change in accounting? personnel|look who’s making money now|merger minded? go out on top!|capacity strategies drive change|who wants to be partner? not enough|private equity heats up m&a|top five trends|compensation gets creative|cpa partners rejoice on surging fee growth|the office is over|accounting firms face up to private equity|irs hires will add pressures|consolidation brings challenges, opportunities|

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yes, indeed. the profession, once characterized as staid and stable, has been hit by a confluence of what crosley calls “four major thunderbolts,” to wit:

read more →

outlook 2023: irs hires will add pressures

incentives will bring new opportunities.

by julio gonzales
the rosenberg map study

the current tax changes from the inflation reduction act include 87,000 irs hires to bolster tax return audits for small business.

more:outlook 2023: look who’s making money now|outlook 2023: capacity strategies drive change|outlook 2023: top five trends|outlook 2023: compensation gets creative|outlook 2023: the office is over|2023 outlook: accounting firms face up to private equity
goprocpa.comexclusively for pro members.log in hereor2022世界杯足球排名 today.

i believe the additional irs agents will create significant pressure on accounting firms to increase staff and costs associated with client audits. this will create pressures to take advantage of tax credits and incentives, but firms must do this with third-party providers with impeccable reputations.

read more →

outlook 2023: the biggest change in accounting? personnel

four ways to address the talent shortage.

by 卡塔尔世界杯常规比赛时间 research
the rosenberg map survey: national study of cpa firm statistics

the accounting industry has just begun to make its most radical change.

  • it isn’t the tech.
  • it isn’t the shift to advisory services.
  • it isn’t the remote offices.
  • it isn’t the mergers and acquisitions.

it’s all those things, plus what they all add up to: personnel.

more:four accountability steps for firm success|how to build a standout team|five keys to becoming a high-performing firm|assessing your firm|the 4 traits of great cpa leaders|why leaders must ensure clarity|incremental vs. exceptional success
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the industry has been suffering a shortage of professionals for many years now. decades. everybody talks about it, but nobody is doing much about it … until now. and, according to charles hylan’s foreword to the 2022 rosenberg survey, the solution is a combination of several significant changes.

read more →

top trends ’23: look who’s making money now

partners’ percentages surge substantially.

by 卡塔尔世界杯常规比赛时间 research
the rosenberg map study

financially, it’s been a good year for accountants – especially at the partner level.

more:outlook 2023: compensation gets creative|what new leaders want in ownership|getting partners to accept a new pricing philosophy|survey results: partners rejoice on surging fee growth|headcounts grow 5%; pay rates surge at 7% pace|fourteen rules for lateral partner hires

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revenues are up. the income per partner (ipp) is up. profitability is up. firms that qualify as “elite” are more elite than ever. and, yes, size matters.

read more →

accounting staffs grow 4%; pay rates surge 8%

weaker signs in tax and payroll.

by 卡塔尔世界杯常规比赛时间 research

it’s not a bad time to be an accountant.

the accounting sector is charting stable, predictable expansion in an uncertain economic environment, with some signs of weakness in tax prep and at payroll agencies, according to a new 卡塔尔世界杯常规比赛时间 study.

more:headcounts grow 5%; pay rates surge at 7% pace|cpa staff wages hit new high and keep climbing|firms battle staff shortages with pay hikes|tax & accounting firms beef up wages and headcounts|employee counts, earnings rise
goprocpa.comexclusively for pro members.log in hereor2022世界杯足球排名 today.

we report here on the accounting profession as a whole as well as:

  • cpa firms
  • tax preparation services
  • payroll services
  • bookkeeping
  • women

read more →

who wants to be partner? not enough

anybody? anybody? bueller? please?

by 卡塔尔世界杯常规比赛时间 research

as if the general and long-term shortage of accountants isn’t bad enough, now we’re seeing a widespread reluctance to take the final step in an accounting career, the step into partnership.

more:outlook 2023: compensation gets creative|what new leaders want in ownership|getting partners to accept a new pricing philosophy|survey results: partners rejoice on surging fee growth|headcounts grow 5%; pay rates surge at 7% pace|fourteen rules for lateral partner hires

goprocpa.comexclusively for pro members.log in hereor2022世界杯足球排名 today.

this is serious. according to the 2022 rosenberg survey, a quarter of all partners are over the age of 60 and either near or past many mandatory retirement ages. many have sold their equity yet continue to work just to help their own firms grapple with personnel shortages.

but nobody works forever.

read more →

the 12 big questions for 2023

the questions aren’t new, but the answers should direct your strategy.

by 卡塔尔世界杯常规比赛时间 research
the rosenberg map survey: national study of cpa firm statistics

as gale crosley, of crosley+consulting, notes in the 2022 rosenberg survey, we are in the midst of “an unusual year of high uncertainty, unpredictability and sapped energy among our profession’s leaders.”

more outlook 2023:the 12 winning traits of a great cpa firm|what accounting firm start-ups are doing right|workflow is a problem. so why aren’t firms buying solutions?|top five trends|compensation gets creative|cpa partners rejoice on surging fee growth|the office is over|the great resignation or a reshuffling?|accounting firms face down private equity|

goprocpa.comexclusively for pro members.log in hereor2022世界杯足球排名 today.

gale crosley
crosley

the profession, once characterized as staid and stable, has been hit by a confluence of what crosley calls “major thunderbolts,” to wit:

  • disruptive technologies
  • shifting economic conditions
  • non-traditional competition
  • fast-moving regulation
  • extensive talent constraints
  • work-from-anywhere options
  • unexpected market demand
  • private equities investing in firms
  • baby boomer retirements

read more →

private equity heats up m&a

firms competing in the buyers’ market need to put on some polish.

by 卡塔尔世界杯常规比赛时间 research
the rosenberg map survey: national study of cpa firm statistics

the accounting industry is seeing an upswing in mergers and acquisitions after a slowdown during the pandemic confusion.

more:why solo cpas need pcas|where mergers go wrong|what your merger letter of intent needs|61 things buyers should explore with sellers|thirteen ways to woo potential firm buyers|one times fees isn’t the only way|four reasons to fear a merger
goprocpa.comexclusively for pro members.log in hereor2022世界杯足球排名 today.

the reasons, according to consultants quoted in the 2022 rosenberg survey, are several:

  • sellers are looking for viability as partners retire.
  • sellers are looking for funding to upgrade tech and shift to cas.
  • buyers are looking for scarce personnel.
  • buyers are looking for specialized niches.
  • buyers are looking for something to tempt private equity investment.

what kinds of tips are available for buyers and sellers?

read more →

the 12 winning traits of a great cpa firm

they don’t get there by accident.

by 卡塔尔世界杯常规比赛时间 research

the 2022 karbon practice excellence report takes a good look at, well, practice excellency. it finds that excellency stands on four pillars:

  1. strategy
  2. efficiency
  3. management
  4. growth

goprocpa.comexclusively for pro members.log in hereor2022世界杯足球排名 today.

the strength of those pillars – and thus the performance of a given accounting firm – is determined by 12 competencies:
read more →

what accounting firm start-ups are doing right

bar chartand why other firms should worry

by 卡塔尔世界杯常规比赛时间 research

if your firm is 10 tears old, its probably getting stale facing intense competition for talent and grade-a clients from newer firms, less than 10 years, according to new research

more:keep these tax clients while you have the chance|some clients just aren’t worth the ‘mishegoss’|when should you drop a client?|what’s the most ridiculous thing you’ve heard in tax season?|back to basics with client service|4 steps to firing a client|top 10 ways to fire the client from hell|survey: zoom, teams top meeting choices|the hazards of poor internal controls|plan for your client to exit their business|what new leaders want in ownership|find your cas team at your firm|six ways to fix your firm agreement

goprocpa.comexclusively for pro members.log in hereor2022世界杯足球排名 today.

it was the youngest firms – those in business for just one to two years – that scored highest. in hindsight, the reason is obvious: they began their firms during the pandemic. they didn’t have to change or adapt to the rigors of remote offices and limited client contact. they built their firms to fit the pandemic context.

read more →

captive insurance: a game changer for business clients

there are eight key advantages to captive insurance. just don’t get fooled by the hype.

huffman

by ken huffman, cpa
president,captive nationin fort worth, texas.

while there areseveral common objectionsskeptics throw out against captive insurance, including its perception as a hidden tax shelter, there are also multiple advantages.

more in tax practice:captive insurance: the top eight myths|the new tax opportunities in real estate|should the irs create a free file app of its own?|your tax season success plan starts here, now|tax prep fintech startup: april raises $30 million|new ira guide updated & expanded with 42-page supplement|thinking commercial real estate? think fast|new small firm cost seg opportunities|can the r&d tax credit be used to offset the amt?

goprocpa.compro members:log in hereor2022世界杯足球排名 today.

here we’ll look closer at the many advantages of a captive for your business owner clients, including flexibility, speed, financing source, wealth building and creditor protection.

read more →

survey results: cpa partners rejoice on surging fee growth

even covid couldn’t quiet the cash.

by 卡塔尔世界杯常规比赛时间 research
the rosenberg map survey: national study of cpa firm statistics

how to explain that giddy feeling in the bellies of accounting firm partners? it’s a plentitude of moolah.

more:irs audit rates are dropping, and big earners couldn’t be happier|six more ways to fix the irs|is remote the new normal?|accounting pros face challenges in turbulent times|your tax season success plan starts here, now|tax prep fintech startup: april raises $30 million|accountants agree: the top five ways to fix the irs

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revenue growth has been pretty decent for the last ten years. even when it was down, it was up, that is, well above inflation. but the most recent results fro the new rosenberg national map survey show thrilling leaps for firms of all sizes.

some of the apparent growth, however, is relative to a dip in the previous year.

read more →

captive insurance: the top eight myths

huffman

deconstructing misconceptions about forming your own insurance company to optimize cash, mitigate taxes and build enterprise value

by ken huffman, cpa
president
captive nation

with continued economic uncertainty, companies of all sizes are looking toward captives as a way to manage high-severity risks and gain enhanced flexibility and greater control over their total cost of risk. and you don’t have to be a global behemoth to form a captive.

more in tax practice:the new tax opportunities in real estate|should the irs create a free file app of its own?|your tax season success plan starts here, now|tax prep fintech startup: april raises $30 million|new ira guide updated & expanded with 42-page supplement|thinking commercial real estate? think fast|new small firm cost seg opportunities|can the r&d tax credit be used to offset the amt?|how the r&d tax credit has expanded over the years|

goprocpa.compro members:log in hereor2022世界杯足球排名 today.

captive insurance can be one of the most effective ways for businesses to protect themselves, optimize cash, mitigate taxes and build enterprise value. however, captives often arouse suspicion among those who are not well-informed. that’s because there have been widely publicized cases of companies using captives as illegal tax shelters, among other abuses.

to separate fact from fiction, i will walk you through some of the most frequently heard objections to captives and explain why those objections are often short-sighted.read more →

how to guide students into accounting

pie chart
do you know any accountants personally?three out of four accounting majors/minors know an accountant personally, confirming the highly influential role of personal connections. (caq)

top five turn-offs and who they’d listen to.

by 卡塔尔世界杯常规比赛时间 research

why would anyone want to be an accountant? long, grueling hours under green eyeshades, cranking a calculator in a back room, thinking nothing but numbers, numbers, numbers …

actual accountants know that such a description is not an accurate, let alone a fair, description of their work. the truth is accountancy is as much about working with people as with numbers. it’s an area of business that touches on all areas of business and even the welfare of families. it’s challenging, rewarding and can actually be exciting.

more in staffing & recruiting:cpa staff wages hit new high and keep climbing|how to face hiring challenges head-on|four ways to propel new cpas into growing your firm|when an employee’s growth has gaps|private equity shakes up u.k. firms|unlock your accountant super powers|from senior to manager in 12 quick questions|staffing crisis: 40% are looking for new jobs|the fintech flood: accounting will never be the same|cpa roi doa: why the next-gen accountant won’t be a cpa|

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the trouble is students have little idea what a career in accountancy is like. and those of ethnic minority, unlikely to have an accountant in the family or even the neighborhood, have even less notion of what an accountant does for a living.

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