thinking commercial real estate? think fast.
warn clients: do the deal, get the cost seg study, and claim the bonus depreciation before it sunsets.
by julio gonzalez
engineered tax services
client service opportunities
when clients say ‘no’
four ways to deal with their decision.
by ed mendlowitz
call me before you do anything: the art of accounting
i found out many years ago that i cannot spend my clients’ money.
i used to feel that if they did not want to “buy” a service i felt they must have, it meant i did not clearly convey the value to them. i do not feel this way anymore because the value is relative and draws on many issues the client might have and that i am not privy to.
more: when good things happen | when an employee’s growth has gaps | my first trainee | the growing pains of a small firm | giving clients the best you’ve got | why map programs are essential | how to become a specialist | secrets in specialties | making sure the son got proper credit | yes, shirt logos can matter | 10 more reasons cpas quit public accounting
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in my earlier days i used to do the work anyway, feeling a responsibility to the client. it took me quite a while to realize that the responsibility is the clients’ and if they did not want to spend their money for it, i should not spend part of my life doing it on a pro bono basis. there were also times i felt the work was so essential to the client that i did it expecting their recognition of the importance and willingness to pay me afterward. stupid! my bad!
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when good things happen
be open to unexpected opportunities.
by ed mendlowitz
call me before you do anything: the art of accounting
my friend al is a sole practitioner with seven staff members and a thriving audit practice, besides the typical tax and small business tax clients.
more: when an employee’s growth has gaps | my first trainee | the growing pains of a small firm | giving clients the best you’ve got | why map programs are essential | how to become a specialist | secrets in specialties | making sure the son got proper credit | yes, shirt logos can matter | 10 more reasons cpas quit public accounting | family trees of clients
he is getting older, and while he has no plans to retire and is actively trying to grow his practice, he periodically meets with larger firms to see if there is an interest in acquiring his practice when that day comes. by doing this he stumbled on a fantastic business development formula.
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the three types of advisory services clients need today
how to use the whole-of-client approach.
by gary bolinger
profit in disruption
planning for positive change and why people do what they do (or don’t) is fundamental to advisory services.
more bolinger on advisory: you can’t separate the business from the client | tell managers what ownership means | clients: what accountants don’t understand | why accountants fail at consulting | advisory vs. low-value clients | what + who leads firms to better service | how accountants are profiting in disruption | ask the right question(s) | seven elements of engagement for cpas | true advisory work isn’t just consulting
- coming soon: how accountants profit in disruption – a special report from 卡塔尔世界杯常规比赛时间 by gary bolinger.
click here to be notified when it’s ready.
your clients have both personal and business goals. over time you should assist the client in achieving both business and personal goals.
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new small firm cost seg opportunities
accountants’ top five questions answered.
by brian coddington
source advisors
brian coddington is the director of tax accounting methods and credits in the fort worth, texas, office of source advisors.
cost segregation is a highly beneficial and widely accepted tax compliance strategy utilized by commercial real estate owners and tenants to accelerate depreciation deductions, defer tax and improve cash flow.
more: can the r&d tax credit be used to offset the amt? | how the r&d tax credit has expanded over the years | the nine-point plan for handling §179d
1 — who uses cost segregation?
once used only by the largest accounting firms and real estate owners, this practice has now become routine for commercial property owners of almost every size.
what gig workers want
and what they need opens new opportunities for accountants and accounting tech.
by 卡塔尔世界杯常规比赛时间
one of the most radical and ramifying shifts in employment economics of the past several decades is the advent of gig workers—the millions of americans working out of their garages, attics, closets and breakfast nooks.
and all of them have unique accounting needs.
accounting firms need them. and venture-backed software startups are chasing them. read more →
survey: big worries for u.s. and small business
while signs are looking better for firms.
by 卡塔尔世界杯常规比赛时间 research
in a contradictory combination of economic outlooks, accountants are seeing pretty good times ahead for their firms and families, but trouble for other businesses.
more busy season ’22: working harder for every dollar | irs tops list of busy season problems | for a few: why busy season 2022 beats 2021 | can the r&d tax credit be used to offset the amt? | 21 reasons tax clients fire accountants | unhappy about tax season? | individual tax refunds up 13% | shut down the tax charlatans | eight quick, easy ways to fix irs filing | a tax season worse than 2021? | 16 traits of the best tax clients | irs under covid: heroes or goats?
according to mid-season results from the 卡塔尔世界杯常规比赛时间 busy season barometer, 38 percent of respondents think the next 12 to 18 months will be much better (at 7 percent) or at least somewhat better (31 percent) for their own firms, and almost half – 45 percent – believe they’ll be doing at least as well as last year.
read more →
buying a practice from an estate
make the terms work for you.
by ed mendlowitz
call me before you do anything: the art of accounting
this was precipitated by my hearing of the untimely death of a sole practitioner who was a friend. his family wanted to sell the practice and was shopping around for a buyer.
more: the growing pains of a small firm | giving clients the best you’ve got | secrets in specialties | 10 more reasons cpas quit public accounting | the 10 best movie accountants | when cpas leave to work for a client | when parents, children hit an impasse | wealth is a state of mind | the six types of “impossible” clients
he died two and a half months ago and a deal still hasn’t been consummated. another friend who was trying to acquire what was left of the practice has kept me advised of the progress.
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five reasons the top 100 loves cas
client accounting services surpasses attest as the hottest menu item.
by hitendra patil
client accounting services: the definitive success guide
cas is the new no. 1. for the first time ever, top 100 firms see client accounting services as the no. 1 growth driver
“niche services fueled growth for the 2022 top 100 firms, with client accounting services/business process outsourcing the most commonly reported area of expansion over the last year for the 83 responding t100 firms,” according to accounting today in releasing the much-followed list of the nation’s top-grossing tax and accounting firms.
“cas/bpo shot up nine percentage points to attain the no. 1 position for the first time ever, with 84% of the t100 experiencing increased demand, continuing its rapid upward trend in reported growth over the last few years,” says accounting today.
why and how has cas become the #1 growth driver for the top firms in the country? let’s take a closer look.
the fintech flood: accounting will never be the same
venture capital and private equity are pouring billions into financial technology start-ups. and this business will never be the same.
watch the video or listen to the podcast: follow 卡塔尔世界杯常规比赛时间 podcasts on apple podcasts here or grab the rss feed here.
with rick telberg
for 卡塔尔世界杯常规比赛时间
transcript and slide deck available exclusively for pro members (login required).
a tsunami of venture capital and private equity is flooding into new tech startups, enough to swamp the entire tax, accounting, bookkeeping, and payroll sector, according to a new study by 卡塔尔世界杯常规比赛时间.
more: how private equity changes everything | the fintech flood: accounting will never be the same | the disruptors: re-inventing accounting with tyler anderson | the disruptors: how to scale with new padgett coo amanda aguillard | eat that frog: asking for a prospect meeting | growing revenue through client service | lease accounting is about to get very real | google ads for new tax season clients | exclusive: eisner ceo charly weinstein explains the private equity deal | flash briefing: a “call to arms” after private equity deal | four ways to beat the staffing shortage, with pasha malik
transcript and slide deck available exclusively for pro members (login required).
here 卡塔尔世界杯常规比赛时间 founder, publisher, and editor rick telberg delivers the keynote at the terrapinn finance & accounting show, explaining what it means for the future of the profession, including:
your sales tax headaches are only just beginning
watch the video or listen to the podcast.
follow 卡塔尔世界杯常规比赛时间 podcasts on apple podcasts here or grab the rss feed here.
with rick telberg
for 卡塔尔世界杯常规比赛时间
the changes wrought by covid are rolling through the business world, pushing many of them into online commerce and cross-border sales and, ultimately, into new and nforeseen tax problems, according to liz armbruester, senior vp of global compliance at avalara.
more: six fixable problems at the irs | irs under covid: heroes or goats? | irs loves e-filing. so why the barriers? | two big (and obvious) ways irs could work with practitioners | eight ways to charm a client | plug small leaks before they become big floods | you’re only as good as your last screw-up | four issues with ‘quick’ tax questions | when to pick up the phone this tax season | these five procedures will simplify your tax season | 11 steps to better client tax instructions
from her perch, see tracks how governments at all levels and across the globe are capitalizing on the rapidly digitizing business world to automatically collect taxes due. in the u.s., states and localities are gearing up to crack down on the new sources of revenues, leaving many businesses and their accountants still ill-equipped to handle the new rules, armbruester tells rick telberg for 卡塔尔世界杯常规比赛时间.
giving clients the best you’ve got
what it looks like in black and white.
by ed mendlowitz
call me before you do anything: the art of accounting
we all use the cliché that we give the clients the best we got, but what does it really mean?
more: how to become a specialist | making sure the son got proper credit | 10 more reasons cpas quit public accounting | preparing for the worst (thanks to my wife) | why accountants quit | when cpas leave to work for a client | readers rip: ‘she wanted her shoebox back’ | how bickering can ruin a family business
i’ve written about value-added services and efforts we can do on behalf of our clients, but here is a different approach i have used.
read more →
the disruptors: can geraldine carter save accountants from themselves?
watch the video or listen to the podcast.
follow 卡塔尔世界杯常规比赛时间 podcasts on apple here or grab the rss feed here.
the disruptors with liz farr
geraldine carter is on a mission to make accounting more attractive as a profession, and to make accountants more profitable, particularly soloists and small firms.
in this episode of the disruptors with liz farr, carter explains the trouble with “orphan 1040s,” how to “level up” your firm, the priceless value of emotional intelligence, and why giving your all is too much (80 percent is enough.)
more: the disruptors: re-inventing accounting with tyler anderson | the disruptors: how to scale with new padgett coo amanda aguillard | eat that frog: asking for a prospect meeting | growing revenue through client service | lease accounting is about to get very real | google ads for new tax season clients | exclusive: eisner ceo charly weinstein explains the private equity deal | flash briefing: a “call to arms” after private equity deal | four ways to beat the staffing shortage, with pasha malik
key action items: read more →
the hidden cost of interstate sales tax
most small businesses are probably paying too much. or, too little. who knows?
by 卡塔尔世界杯常规比赛时间
the true cost of interstate sales tax compliance borne by small businesses is fast mushrooming into a problem of national proportions, according to new research. and while it may be a big opportunity for accounting firms, most small business owners are probably spending too much, or just as worrisome, too little.
more on salt: when tax collectors go digital | tax regs for the metaverse | sales & use tax costs are higher than anyone thought | survey: nobody loves the wayfair decision | accountants to small biz: ‘be nimble, be quick, be careful’ | turn client wants into needs | the 15 absolutely necessary services for cas clients | a job description for client accounting services | salt: the small business disaster waiting to happen | survey: rough seas ahead for small business |
- more in tax season here | more in research & surveys here | more in the 卡塔尔世界杯常规比赛时间 shop here
according to a 卡塔尔世界杯常规比赛时间 survey, 39 percent of accountants believe their small business clients were “mostly not in full compliance” with cross-border collection and remittance requirements. each of those non-compliant clients is a potential problem and an opportunity for their accounting firm.
now a new avalara-sponsored survey looks more closely at “emerging small businesses” (esbs) with under 20 employees, and small and medium-sized businesses (smbs) with 20-50 employees. read more →
beyond tax prep: the big cha-ching!
five reasons business clients are ready for tax advisory services.
by 卡塔尔世界杯常规比赛时间
question: if half your tax clients were buying planning or advisory services for five times what they’re paying for tax prep, what would that add up to?
answer: a big cha-ching!
more on tax season: crisis at the irs | the irs’s 10 biggest problems. here are just the first five. | fear and loathing for tax season ’22 | padar joins vc-backed tax fintech for banks | covid chokes an already crippled irs | tax regs for the metaverse | 10 steps to a superior tax department | accountants critical of competitor price-cutting | automate busy season with apps you already use | sales & use tax costs are higher than anyone thought | survey: nobody loves the wayfair decision | busy season forecast: more chaos | a woman named wanda leaves an ira nightmare | are you under-pricing your client accounting services? | your best advice: get smart, get tech, get moving | worries for small business clients |
- more in tax season here | more in research & surveys here | more in the 卡塔尔世界杯常规比赛时间 shop here
this may be the season for tax filing, but accountants failing to leverage prep into planning and advisory are missing out on a lot of potential revenue.
the average annual fee for tax planning and advisory services is $2,351—five times the average annual tax prep fee of $459, according to a new study. read more →