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working with the ultra-wealthy

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jason zayon, a partner in the business management & family office group at armanino llp,
jason zayon, armanino: “the accountant becomes the true ‘trusted advisor’ for everything the client needs.”

and how the family office can deliver.

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

in many ways, the accounting industry is under pressure from fee compression and seriously increasing competition. the current crisis is exacerbating the problems some accounting firms are having.

more: become a thought leader | personal wealth creation can be coached | the power of stress testing | guiding clients through covid | maximize referrals from wealthy clients | building a high-net-worth practice during covid-19 | setting financial and practice goals during covid-19 | mistresses, mister-esses and accountants
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at the same time, certain types of clients and sets of services prove to be extremely profitable for accounting firms. one such type of client is the ultra-wealthy. furthermore, a potentially highly profitable segment of the ultra-wealthy is those with single-family offices.
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employee demands a raise she doesn’t deserve

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hands tear money isolated on white backgroundhow to decide when to let people walk.

by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor

question: i have a longtime employee who asked me for a 33 percent salary increase, or she said she would have to explore options. how do you suggest i handle this?

more: but i am managing! | make more money starting now | the wrong way to look for staff | strategic planning for the small firm | before you sell your practice | work the client needs … but won’t pay for | tossing timesheets is just the start
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additional information: she works five-hour days every day and is paid by the hour. she gives me no added time during tax season. she also gets paid for an extra six days – which is for half of the firm’s allowed holidays – and for eight days for combined sick, vacation and personal days, and i pay her for half of her required cpe time (payment for 20 hours) and all the registration costs.
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steven braunstein: new covid strategies for staff recruiting and retention

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snyder cohn revamps staffing tactics for work-from-home conditions.

^ click to play video | > get the podcast version and follow 卡塔尔世界杯常规比赛时间 here

with richard rothstein

steven braunstein, managing partner of snyder cohn in north bethesda, md., talks about the impact of covid on staff recruiting and retention — including virtual “lunch with steve” sessions.

more: how covid rewrites the rules for recruiting | irs has recruiting problems, too | 12 signs it’s time to outsource |

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

^ download and follow the podcast on itunes here.

but how do you nurture a firm culture without face-to-face live, in-person in-office meetups? that’s what braunstein is figuring out.

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comeback stalls as layoffs hit 1,500 in accounting

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cpa firms cut average staff pay.

“the tax season from hell?”
join the survey. get the results

by beth bellor
卡塔尔世界杯常规比赛时间 research

the accounting profession sector by sector generally looks slightly brighter, with most reporting headcount growth for the month – but losses for the year.

exceptions include the profession overall, which is taking a 0.2 percent dip, tax preparation services up for the year 3.3 percent, and bookkeeping, up 1 percent.

more on jobs: tax & accounting regains 3,800 jobs | accounting jobs recovery slows | tax & accounting firms rehire two-thirds of pre-covid workforce | tax & accounting firms rehire two-thirds of pre-covid workforce | new job cuts at cpa firms | covid job toll: tax & accounting cuts 17,500 employees | firms recall half of furloughed staffers
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

in this report, 卡塔尔世界杯常规比赛时间 highlights:

  • current and long-term hiring trends in each of the bookkeeping, payroll, tax, and cpa segments of the industry (all data seasonally adjusted)
  • average hourly wages for key segments
  • typical hours worked per week
  • trends concerning women in the accounting workforce

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hunting the amended return

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chart of options
where’s my amended return? irs online self-assistance applications

 

what to tell clients when they ask.

by 卡塔尔世界杯常规比赛时间 research

long, long ago, humans began to use tools. technology began with the sharpened stick and the stone hammer and soon grew into the wheel, the arch, the printing press, electricity, interplanetary transportation, finally reaching a lofty pinnacle known as the “where’s my amended return” tool at the irs.

more: the irs studebaker bomb | imagine irs ‘concierge’ service. just imagine. | irs has recruiting problems, too
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today, with a few clicks of a mouse and a few keystrokes of information, a taxpayer can discover virtually nothing about the fate of an amended return. and it takes only a few minutes!
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courtesy still matters

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business people laughing at lunch in a cafe outdoorswhy aren’t you more successful? make sure this isn’t the reason.

by steven e. sacks
the new fundamentals

technology has overtaken the traditional forms of communication that include face-to-face interaction, telephone conversations and of course, the handwritten or typed note slipped into an envelope, affixed with a stamp and dropped in the mailbox.

more: business is about relationships | 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 | staff orientation: a little investment goes a long way
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

but wait. how can professionals succeed if the situation calls for in-person interaction if they have not been given the necessary training in the art of a conversation? whether you are involved in a job interview or entertaining a potential client over a meal, how you exercise the appropriate behavior will determine whether a relationship is forged or tossed on the pile of failed results.
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designing your firm’s cas processes

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process touch screen showing workflow designyou might find yourself working backward.

by hitendra patil
accountaneur: the entrepreneurial accountant

we have examined how you can enhance your firm’s internal processes and what factors influence those processes. in this post, we will focus more on cas-specific processes that can give you competitive advantages. however, this post is not about the technicalities of accounting processes. as a professional accountant, you already know the accounting fundamentals required to create your processes for each of the segments of the services you provide.

more: your firm’s processes can set you apart | 12 signs it’s time to outsource | will 2021 be your cash-flow year? | identifying the right clients for cas | cas is, first, a communication challenge
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

are client accounting services processes different than what you have been doing until now? yes, and no.
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make tech your ally in protecting clients

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technology security with internet digital signature as artthree ways to keep files safe from security threats.

by jody grunden
building the virtual cfo firm in the cloud

have you ever been contacted by the irs with the fbi involved? i can tell you from firsthand experience that it’s a bit alarming when that happens.

more: be more efficient with tech stacks | put bots to work for you | not all employees want the same perks | not all employees will work out | uncover potential in 10 interview questions | what running a virtual cpa firm really costs
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

we were once contacted by the irs because they thought our server had been compromised. when the field officer who came to our office asked to see our server, we explained that we didn’t have a server. she was a little surprised by that information and then asked where we kept our files. we explained that we use cloud storage and programs designed specifically for encryption and security.
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pros process 44% of tax e-filings

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data chartrefunds top the $100 billion mark.

by beth bellor

with the traditional tax filing deadline back in place, it’s a good thing that the gaps between 2020 and 2021 data points are closing more each week.

more: tax professionals report tough slogging | busy season 2021 gets off to weak start
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the irs had received 55.7 million individual income tax returns as of march 5, the latest data available. this was down 18.1 percent from the same calendar week in 2020, but not an apples-to-apples comparison because the 2021 tax season began 18 days later. it had processed 49 million returns, down 24.7 percent, pegging the current processing rate at 87.9 percent.
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six ways to make your own history during women’s history month

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most of them are easier than you might think.

add your voice to comments: what’s working for women in the profession? and what needs more attention (especially this year when issues like this get pushed to the lowest priority)?

by sandi leyva

did international women’s day come and go again in your firm without much fanfare? that’s ok because you have the entire month of march to not only celebrate women’s history month but also to make some history of your own.

more on small-firm growth strategies: clubhouse: hottest new social platform or just more noise? | who’s offering your clients ppp services? | ppp client fraud: how much risk is too much? | survey: who’s not billing for ppp services? | add these money-making rituals to your work day | 3 ways to opt out of any downturn | 5 ‘low-hanging fruit’ ways to raise your revenues right now | how to lead in a crisis
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

here are several ideas you can implement immediately that will each take one small step toward advancing women.
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the managing partner’s role in managing staff

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man looking at 5 keys14 keys. yes, they’re all important.

by marc rosenberg
the role of the managing partner

we have shared the most important parts of overall cpa firm management and the main duties of the managing partner in particular.

more: 10 ways to hold partners accountable | five ways to evaluate partners | manage partners with goal setting | overarching authority that managing partners must have | herding cats: advice for managing partners
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we presented a job description for a managing partner. depending on the day of the week and the makeup of the group discussing this job description, several items would be finalists for the most important duty on the list. few would argue if the winner of that competition were managing staff. here is the managing partner job description item pertaining to staff:
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the irs studebaker bomb

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1962 studebaker lark four-door sedan in daytona beach, fl, nov. 28, 2020
1962 studebaker lark four-door sedan in daytona beach, fl, nov. 28, 2020

that ticking you hear is time running out on the irs.

by 卡塔尔世界杯常规比赛时间 research

america is a great nation but not without its occasional embarrassment. one of the lesser-known national ignominies is the patched-up, jury-rigged studebaker at the core of the irs information technology system.

more: irs ‘level of service’ too low | irs has recruiting problems, too
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studebaker didn’t manufacture the individual master file system, but the company was producing the lark at about the same time the imf was installed at the irs in the early 1960s. studebaker has long since gone out of business, and larks are as dead as dinosaurs, but the imf is still chugging away.
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