client service opportunities

beyond tax prep: the big cha-ching!

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five reasons business clients are ready for tax advisory services.

credit for data: intuit

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 |

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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 →

boom! covid drives startups

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small-business start-up rate running 50% higher than pre-pandemic. (via zapier)

71% plan to continue with their new ventures.

by 卡塔尔世界杯常规比赛时间

as the world bemoaned the cruelty and inconvenience of the covid-19 pandemic, a lot of entrepreneurs were making the best of times in the worst of times.

the result: a lot of new small businesses. and each one is an opportunity for an accountant.

more outlook & analysis: accountants critical of competitor price-cutting | are you under-pricing your client accounting services?  | stop complaining and start innovating | five tough-love strategies for 2022 | survey: tech is the path to a better tax season | private equity at the gates | top 20 trends for the year ahead | sales & use tax costs are higher than anyone thought |

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

the pandemic years have seen a huge spike in not just covid-19 cases but new business creation, a breathtaking increase of 50 percent, according to a survey from zapier, the software automation company. it started just as existing businesses went into lockdown, and the trend isn’t stopping any more than the virus is.
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how to become a specialist

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woman's hand pressing words "ask an expert"some of your training can happen on the job.

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

once you decide upon a specialization, you need to go about making yourself an expert. read, join professional associations, take focused cpe, and try to write articles or give speeches. accountants who are industry experts become industry thought leaders.

more: success 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
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some specialties require obtaining designations or certificates of completion that require study and time – an investment you and the firm would have to make. there is no easy path to growing and establishing expertise, but it is a joyful ride.
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when to pick up the phone this tax season

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businessman talking on phone in the officepersonal touches help retain clients.

by ed mendlowitz
tax season opportunity guide

clients are not numbers on a list that needs to be reduced. they are all individuals and consider themselves very important people and want professionals who treat them accordingly.

more: these five procedures will simplify your tax season | 11 steps to better client tax instructions | get your team ready for tax season | 12 ways to squeeze fun into tax season | 6 ways to get paid faster in tax season
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it is attitudinal and accountants must adopt that mindset and transmit that through to their culture. so you need to know when it’s essential to pick up the phone.

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five steps to building advisory work

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both the who and the how.
hand watering small plant in pot shaped like upward arrow

by bill penczak

the nirvana (in the esoteric sense, not the kurt cobain context) for cpa firms is to provide “higher value” work for their clients, which traditionally means guiding them with process improvement, predictive analytics on business drivers, or taking proactive measures to reduce risk or tax burden.

more: the six essential kpis for managing partners | the great resignation: five reasons accountants are quitting | five global cpa leaders: four survival strategies | planning for success in 2021 | do you have the guts to beat the covid crisis?
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it is a career builder for your staff and a noble aspiration for the industry.

but while i have heard managing partners talk about the notion of higher value work, when pressed, they are often at a loss as to what that work would be, and more importantly, whether their mid-level and junior-level staffers (or even partners) have the true skill set to move into the major leagues.

the burden of meeting compliance deadlines weighs heavily on most staff, and they are weary from deadline pressures of clients’ immediate needs to consider much else.

perhaps this is the opportunity to help chart your best and brightest to the next level, not only for fear of losing them to industry or another firm, but because as a firm leader, it’s the right thing to do.
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