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make your plans count: 1-2-3

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graph with arrow going upwhat do you want to have happened six months afterward?

by kristen rampe

a well-planned retreat can have a real impact on your firm’s performance.

more: team expectations: a checklist for busy season | tax season savvy: five ways to stay sane | why host a partner retreat? | effective stay interviews for cpa firms | the 16 biggest #fails in delegation  | work-life balance: according to whom?  | new survey results: two ways your strategic plan can reduce turnover
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a $2.4 million client of ours who holds annual management retreats (sole practitioner, coo, and key managers) wrote with this news when reflecting on their year-over-year improvements:

you would love our stats…

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conviction + process + expertise = your next $5 million

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businessman working netbook outdoors, wearing sunglassesthis is your essential process.

by anthony glomski and russ alan prince
your $5-million high-net-worth practice

a lot goes into building a $5 million high-net-worth practice.

more: a high-net-worth practice in four steps | don’t ignore life insurance | adultery and other messy situations | how to attract the super-rich
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it is a given that you will need wealthy clients. for most accountants, most of these wealthy clients are very likely to be successful business owners. but that is not always the case. you can potentially achieve your financial end goals with wealthy inheritors, for example.

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partner compensation: a potent weapon

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if the executive and compensation committees aren’t one and the same, they at least should have heavy overlap.

by marc rosenberg
the role of the managing partner

does compensation motivate partner performance?

i’ve done a lot of research on this over many years. the short answer: yes, money motivates performance, but it’s often not the best motivator.

more: the managing partner’s secret weapon | how to enforce the partner agreement | the 9 biggest merger pitfalls | 10 ways to hold partners accountable | make sure partners focus on two things | how the managing partner manages the partners
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the managing partner can best impact partner performance by the following:
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tax season ends with pros covering 54% of returns

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data chartdirect deposit refunds were the only down note.

by beth bellor

the final report from the tax season we thought would never end is in, and on higher notes than might have been expected.

more: 54% of tax returns go through pros | tax pros race to the finish line | tax pros widen lead over amateurs | pros surge ahead in tax prep | tax pros handle 53% of e-filings | tax pros hold their ground
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the agency received 148 million individual income tax returns, up 11.8 percent from the same period in 2020, when the endless season was 18 days longer. it processed 135.8 million returns, up 13.4 percent and setting the processing rate at 91.7 percent.
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would you buy your own services?

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business meeting of a woman and two mentemplates are handy but don’t show understanding of what the client wants.

by steven e. sacks
the new fundamentals

do you ever wonder why after spending many hours on drafting, editing, proofing and polishing – and proofing and polishing just once more – your engagement proposal efforts did not result in winning the engagement? and if this happens on a semi-regular basis, the frustration is never easier to take.

more: the future of the accounting profession | 7 signs your accounting firm agreement falls short | five common negotiating mistakes | reaching for authenticity in client service | deadlines? ha! don’t make me laugh | organizational change starts and ends with people | busyness isn’t the same as productivity
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

you may have the requisite knowledge and experience and perhaps even a broad view based on a diverse set of clients. however, you may have become complacent by maintaining a “cookie-cutter” approach to developing your proposals. like the old joke defining a consultant: “a person who takes off your watch, tells you the time and gives the watch back to you,” implies an approach that you believe is best for your potential client, yet reflects no understanding of what the client actually needs.
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the 5 key skills of innovation

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businessman switching on "innovation" slider buttonyour firm needs them now more than ever.

by gary bolinger

peter drucker once said, “every organization, not just businesses, needs one core competency: innovation.”

one core competency. that is powerful. in today’s pandemic environment and, as we prepare for the post-pandemic environment, it is more important than ever in businesses of all kinds, including cpa firms. cpa firms need to prepare to assist clients for the world ahead. there won’t be a return to “normal” as we remember it for some time. and that means cpa firms must innovate in client service to add value in this new environment.

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

innovation sounds big. innovation sounds big because we tend to think about historic innovations, and they were big. you know … the wheel, the printing press, railroads, mass production, airplanes, the electric light bulb, television, the internet and cellular phones.
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irs: short on time and running out of room

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the situation isn’t funny, but laughing beats crying.

by 卡塔尔世界杯常规比赛时间

half the country may be vaxxed to the max, but that hasn’t helped the irs recover from last year’s covid-clogged backlog. in fact, it’s gotten so bad that the backlog is causing a logjam that’s backing up more logs.

more: 173% increase in irs correspondence backlog | hunker down: the irs backlog isn’t going away anytime soon | the irs studebaker bomb | irs has recruiting problems, too
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

when tax clients start to gripe about the refunds they haven’t received, maybe not even last year’s, describe this scenario to them, as described by the interim results of the 2021 filing season report from the treasury inspector general for tax administration.
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avalara launches new tax automated compliance apps for accountants at all levels of practice

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offers accountants the tools to build an independent salt practice.

by 卡塔尔世界杯常规比赛时间
via avalara

avalara inc., a leading provider of cloud-based tax compliance automation for businesses of all sizes, today announced an array of new tax compliance automation products and services designed specifically for accountants. the announcement is timed for the opening of avalara’s annual user conference, crush.

avalara for accountants provides accounting professionals with the technology to simplify and streamline their tax compliance practice, including:

  • sales tax returns preparation and filing automation options
  • license research, preparation, and management
  • sales tax expert advice

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how much are your clients costing you?

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businessman pole vaulting toward his goalcalculate your opportunity number to figure who’s worth your time.

by sandi leyva

each of us has 24 hours in one day. most of us have annual revenue goals. a few of us have monthly, weekly, daily or even hourly revenue goals.

more on small-firm growth strategies: spend your time on the most profitable tasks | seven performance boosters for your firm | 12 ways to stress less this busy season | who’s offering your clients ppp services? | add these money-making rituals to your work day | stuck at home right now? here’re 100 good ideas to relieve the stress | tech tools for working through the coronavirus
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

hopefully you know what your revenue goal is. (if not, you should!) if you don’t pull in that level of revenue for the week or month, then you’ve missed your plan.
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the managing partner’s secret weapon

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businessman holding up magnifying glassthe right people in the right positions will help you stay out of the weeds.

by marc rosenberg
the role of the managing partner

 

to be a great managing partner, you need a great team – a team that keeps you focused and out of the weeds.

the managing partner position is a big job. the high-level ceo of a complex, growing, highly profitable organization such as a cpa firm must be able to focus on the most important parts of the job, none of which is easy.

more: how to enforce the partner agreement | how long should it take to make partner? | the managing partner’s role in mergers | five ways to evaluate partners | manage partners with goal setting | overarching authority that managing partners must have | herding cats: advice for managing partners
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

let’s drill down for a moment on the word “focus.” it means:

  • having the time to do the job properly. for this to happen, managing partners must avoid (a) having too many client responsibilities, which would preclude them from making the firm their #1 client most of the time and (b) spending time on matters that can be delegated to others, such as the coo/firm administrator and department/team leaders.

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