client service opportunities

tax season 2019 serves up a taste of the future

by

“thirty percent of tax services will be obsolete in three years.”

robert hockensmith talks about tax season 2019 on local tv news in phoenix.

by 卡塔尔世界杯常规比赛时间 research

this year’s tax season is giving tax preparers a taste of the future—a future where tax returns are both simpler and more complex.

according to data streaming into the 卡塔尔世界杯常规比赛时间 busy season barometer survey, tax practitioners are just beginning to get a handle on the radical changes wrought by the tax cuts and jobs act—not just the technical changes to the tax code but the resulting changes to the business of tax preparation.

more: the biggest reason fraudsters run rings around the irs  | the big free-file flop | the demise of schedule a? | refunds still up, but only by 0.7% | survey: busy season goes sour | tax refunds up 1.7% | lessons learned: how the federal shutdown hit busy season 2019 | tax refund fury roils busy season | taxpayer advocate slams congress over funding

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

robert f. hockensmith, cpa, ea, in phoenix, ariz., and a website site notably named azmoneyguy.com, offers a variety of tax and non-tax services, sums it up thus: “thirty percent of tax preparation will be obsolete in three years. clients will want advice and tax resolution more than preparation for 50 percent of taxpayers. and only 50 percent of all tax returns will be prepared by professional tax preparers.”

read more →

high cpa fees should be a client’s goal

by

businessman sitting on scales with stack of coins in other traythey don’t want their accountant doing as little as possible.

by ed mendlowitz
call me before you do anything: the art of accounting

one time i had three clients who were on the board of directors of the same nyse-listed company. two of them questioned every bill and every hour spent, and their fees were fairly low for people of that caliber. the third person did not seem to care what he paid, and his fees were quite high. let me call him jack.

more: hot shot sales manager is not such a hot shot | am i happy? | my boss hated the client | fired from my first job | staffers need to speak up with clients | bored by cpe? you’re missing out!
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

jack also wanted to have lunch with me about twice a year. there was no special agenda. he just wanted to talk about how he could get richer and whether i could come up with anything that might help his company. we ate in the company’s private dining room – just him and me and three people waiting on us. the only thing i remember about the food was that at the beginning of the lunch we were served a wheel of brie cheese measuring 10 or 12 inches in diameter, and he proceeded to eat almost all of it.
read more →

protect your clients’ assets

by

digital visualization of a blue alarm clockget the plans locked down.

by anthony glomski

let’s look at ways to help your clients minimize taxes when they sell their business, to avoid leaving money on the table and to reduce concentration risk.

more on liquidity: even entrepreneurs must diversify | when clients cash out: four smart financial moves
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

here we’ll take a closer look at two common missteps that business owners and their advisors make during the exit process – and how to avoid them.
read more →

hot shot sales manager is not such a hot shot

by

businessman holding a printed red "down" arrowsometimes people reveal more than intended.

by ed mendlowitz
call me before you do anything: the art of accounting

a client decided that to grow her business she needed a top-tier sales manager and recruited someone from a much larger competitor.

more: am i happy? | how hidden bias taints results | when to keep some plans to yourself | employees have better memories than bosses | when writeups went extinct
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

read more →

even entrepreneurs must diversify

by

also: don’t let them undervalue themselves.

by anthony glomski

based on my years of experience helping successful entrepreneurs, as well as my research and interviews with experts in the area of successful business exits, i have identified key financial challenges that entrepreneurs who are about to cash out must address.

more on liquidity: when clients cash out: four smart financial moves
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the idea is to ensure that you can help them make a smooth and successful transition from where they are today to where they want to be post-exit. read more →

am i happy?

by

life is short, you know.

by ed mendlowitz
call me before you do anything: the art of accounting

my father was dying – too young and too soon. he succumbed over a nine-month period to coronary heart disease. today his life could have been extended, but not in 1976.

more: how hidden bias taints results | you must push the pencil | the art of the deal: starts with listening | working for a jerk | the ‘wrong’ cpe | be a sounding board to your clients
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

i would visit him and see his strength waning to the point that he could barely lift his head or talk and even then it was in a hoarse whisper. one of the last things he said to me was, “are you happy?” i answered quickly, “yes.”
read more →

when clients cash out: four smart financial moves

by

how to put your clients in the best possible position.

by anthony glomski

there are over 28 million businesses in the united states today. while the odds of being highly successful remain long, many businesses that do succeed are often worth far more than their owners imagined.

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the main reason for that disconnect is that owners are laser-focused on growing their business; they’re not in the business of buying and selling businesses like investment bankers are.
read more →

how hidden bias taints results

by

statue of scales of justicedon’t make your job harder.

by ed mendlowitz
call me before you do anything: the art of accounting

it is very hard to avoid injecting bias in investigatory forensic work, but essential if you want to be successful. i had a great experience to illustrate this.

more: you must push the pencil | my boss hated the client | fired from my first job | staffers need to speak up with clients | bored by cpe? you’re missing out! | clients buy solutions, not hours | roger is my only client
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

first, very few people do things that are completely unbiased. most everyone starts with some sort of preconceived idea and, whether consciously or subconsciously, they lean toward that. maybe i should have said unconsciously. so many people do things without a clue, but that is a different story.
read more →

what to do with an inherited mortgage

by

4 specific tips.

by barry j. friedman, cpa
industrynewsletters

the right of inheritance applies to all property, including properties with mortgages attached to them.

more: alternative minimum tax: what’s it like today? | the latest rules on charitable donations | the latest fraud problem: synthetic identities | how to challenge property taxes | real estate, iras & clients | percentage-withholding for clients | bitcoin: what clients need to know | supreme court wayfair ruling sows confusion – and opportunity
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

if your client inherits a mortgaged property, a number of questions and concerns may pop up, including whether the mortgage can be assumed. your client may wonder how to record the deed and take title to the property.
read more →

you must push the pencil

by

woman's hand using a pencil on notepadsometimes the conventional is not wisdom.

by ed mendlowitz
call me before you do anything: the art of accounting

tax rules continuously change, but the specific tax matter here is not what’s important. what is important is the process.

more: when to keep some plans to yourself | employees have better memories than bosses | when writeups went extinct | kennedy’s acceptance speech
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

in the 1970s the tax law provided for a penalty for certain family corporations retaining “excess” earnings and not paying dividends. for the record the individual tax rate on dividends then was 70 percent, so forcing the payment of dividends would give the government that much more tax – on some level you can say that it almost was a confiscatory tax.
read more →

alternative minimum tax: what’s it like today?

by

there are only two brackets for 2018.

by barry j. friedman, cpa
industrynewsletters

the tax cuts and jobs act made many changes to the individual tax law, including the alternative minimum tax.

more: the latest rules on charitable donations | beware the taxes of self-employment | charitable giving under tcja | why padding tax deductions is a risky proposition | portability: sharing the estate tax exemption
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

one of the goals of the new tax law was to reduce the impact of the amt or even to repeal it entirely. a modification was made – let’s see what it could mean to your clients.
read more →

my boss hated the client

by

drawing of unhappy face and arrow pointing from it to happy face“his remarks were like a kiss of death.”

by ed mendlowitz
call me before you do anything: the art of accounting

early on, my boss took me to a client i was to work on. he started to explain what needed to be done and what the client did, but then he said, “i hate this client – everything is always messed up and nothing ever makes sense.”

more: when to keep some plans to yourself | the art of the deal: starts with listening | working for a jerk | the ‘wrong’ cpe | be a sounding board to your clients | make obsessed leadership work for you
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

he also told me my work area was in the factory. i would probably have to move a chair next to a carton that would serve as a desk, and he warned me the lighting wasn’t too good.
read more →