outlook & analysis

2020 outlook: making volume manageable

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remember who’s watching.

by tamera loerzel

a big issue that i have seen firms struggle with is volume. to help manage and reduce the volume to free up time for proactive, future-oriented initiatives, firm leaders need to get laser focused.

more: 2020 outlook: more engagement, less ‘efficiency’ | non-traditional hires might be the answer | focus on business development | innovate and anticipate | balance advisory and compliance | talent shortage drags on | demand is high | business development goes borderless | data import on the rise | becoming the most valuable advisor | top three tips for 2020 success | where do you want to be? | dicey disruptions | upstream mergers | staffing gets creative
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three places you can start and take incremental steps to make progress in truly driving change in your firm include:
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data points down as tax season opens

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data chartdiys, refunds are up.

the 卡塔尔世界杯常规比赛时间 busy season barometer: new year, new strategies?
join the survey. get the results.

by beth bellor

filings were behind last year’s marks as tax season opened, according to the irs, and pros handled about 35 percent of e-filings.

more: the fight for new tax clients | 5 tax review keys | treat review procedures like quality control |  survey results: tax pros forecast a better 2020 |  can the irs enforce the tax code? |  tax pro’s upbeat on cusp of busy season |  use tax return prep for training and growth |  irs undertakes overhaul  | all 2020 tax season coverage
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the internal revenue service received 15.8 million individual income tax returns for the week ending jan. 31 – the first of the season and just five days long – down by 1.6 percent from the year before. it had processed 12.9 million returns, down 2.7 percent, for a processing rate of 82 percent.
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2020 outlook: more engagement, less ‘efficiency’

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how well do you know your clients’ strategic plans?

by jeff pawlow

while firms intellectually understand what it means to move from a “compliance” to an “advisory” posture, most are lagging when it comes to actually making the pivot.

more: 2020 outlook: non-traditional hires might be the answer | development | innovate and anticipate | balance advisory and compliance | talent shortage drags on | demand is high | business development goes borderless | data import on the rise | becoming the most valuable advisor | top three tips for 2020 success | where do you want to be? | dicey disruptions | upstream mergers | staffing gets creative
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part of this is based on the fact that most firms are still run the way they have always been run – designed to produce the core services as efficiently as possible. in order to function in an advisory capacity, a complete retooling is necessary – where the emphasis is less about efficiency and more about engagement.
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accountants cautiously bullish on the economy

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the 卡塔尔世界杯常规比赛时间 busy season barometer. join the survey. get the results
the 卡塔尔世界杯常规比赛时间 busy season barometer. join the survey. get the results

“local optimism” a bit better than last year.

the 卡塔尔世界杯常规比赛时间 busy season barometer
new year, new strategies.
join the survey. get the results.

by 卡塔尔世界杯常规比赛时间 research

when cpas talk about the economy, people listen. they listen because accountants have their finger on the pulse of the economy. they look at real numbers all day. they look at where the numbers are coming from and where they’re probably going. it’s what they do.

more: pros improving performance | can the irs enforce the tax code? | tax pros upbeat on cusp of busy season | irs undertakes overhaul
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for that reason, 卡塔尔世界杯常规比赛时间’ 2020 busy season barometer steps back from strictly tax issues to ask how things look economically. the answers are always interesting.

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the fight for new tax clients

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bar chart
by 卡塔尔世界杯常规比赛时间 research

and will refunds reverse their downward trend?

the 卡塔尔世界杯常规比赛时间 busy season barometer: new year, new strategies?
join the survey. get the results.

by beth bellor

the irs is about to roll out its first filing statistics of 2020, but before it does, let’s recap 2019.

more on tax season: pros improving performance | can the irs enforce the tax code? | tax pros upbeat on cusp of busy season | irs undertakes overhaul
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first, the market share: how many individual income tax returns were filed, and how many of those were touched by accountants?
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2020 outlook: non-traditional hires might be the answer

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also: for mergers, it’s a buyers’ market.

by marc rosenberg

there have been four babe ruthian story lines that have driven the cpa industry evolution for 10-20 years.

more: 2020 outlook: focus on business development | innovate and anticipate | balance advisory and compliance | talent shortage drags on | demand is high | business development goes borderless | data import on the rise | becoming the most valuable advisor | top three tips for 2020 success | where do you want to be? | dicey disruptions | upstream mergers | staffing gets creative
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just because they don’t go away, that doesn’t mean that changes aren’t occurring.
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2020 outlook: focus on business development

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consider spreading the responsibility.

by art kuesel

few firms have truly unlocked the keys to above-average organic growth. those that have unlocked the keys display distinct differences from many firms that haven’t.

more: 2020 outlook: innovate and anticipate | balance advisory and compliance | talent shortage drags on | demand is high | business development goes borderless | data import on the rise | becoming the most valuable advisor | top three tips for 2020 success | where do you want to be? | dicey disruptions | upstream mergers | staffing gets creative
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

one is a strong bench of young and up-and-coming partners with above-average potential to contribute to business development. not only is this a succession planning strategy, it can double as a growth strategy.
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2020 outlook: innovate and anticipate

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you might have to do some hiring, or at least subcontracting, to keep the proper focus.

by michelle golden river

change is here and firms are moving, but at vastly different paces. while minds are certainly more open, firms aren’t equal in knowing where to start and how to cope.

more: 2020 outlook: balance advisory and compliance | talent shortage drags on | demand is high | business development goes borderless | data import on the rise | becoming the most valuable advisor | top three tips for 2020 success | where do you want to be? | dicey disruptions
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firms need more change-management function experts (there are great consultants in this space, and fantastic books out there) and project management experts (see project management institute) to execute promptly once strategies are set.
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[survey results] tax pro’s upbeat on cusp of busy season

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higher revenues and net profits. what’s not to like?

the 卡塔尔世界杯常规比赛时间 busy season barometer: new year, new plans?
join the survey. get the plans.

by 卡塔尔世界杯常规比赛时间 research

it may be too soon to say for sure, but america’s tax pros think we might be coming up on a pretty good tax season – more clients, no big new tax rules, software up and running, staff up to speed on last year’s tax cuts and jobs act.

more: irs undertakes overhaul
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granted, this is a comparison with last year, an annus horribilis that will go down in annals of accountancy. remember? a major overhaul of tax rules. a shortage of new forms. software suddenly obsolete. clients confused. and the irs shuttered for a government shutdown.
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2020 outlook: balance advisory and compliance

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3 solid strategies.

by carl george

tax reform – opportunity or burden?

more: 2020 outlook: talent shortage drags on | demand is high | business development goes borderless | data import on the rise | becoming the most valuable advisor | top three tips for 2020 success | where do you want to be? | dicey disruptions | upstream mergers | staffing gets creative
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the prevalent theme throughout the 2019 tax opportunity season was “…the hardest tax season that i have ever encountered!” system issues. cyber issues. tax reform. changing/last-minute regs.
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irs undertakes overhaul

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rettig

including a 6-point strategic plan.

by 卡塔尔世界杯常规比赛时间 research

chuck rettig has been commissioner of the internal revenue service for just over a year, but he has behind him 36 years of experience as a tax professional.

more: should the irs go down in history? | 5 easy ways that congress could fix tax collection | 4 ways to fix irs collections | 3 ways to improve irs levies | how the irs abuses ‘math errors’ | taxpayers deserve better receipts | troubles with irs private debt collection | what difference does one word make?
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that experience includes the experience of trying to get answers out of the irs, waiting on hold, struggling to make sense of tens of thousands of pages of tax rules and rulings, and dealing with mid-season pronouncements. he knows how it is.
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2020 outlook: talent shortage drags on

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what it takes to prosper.

by august j. aquila

the last of the baby boomers are retiring in large numbers this year. they had a long run at managing firms, but their time is now up.

more: 6 action steps for a smooth retirement transition | 7 succession planning best practices | grissom and aquila on partner performance evaluations | gross profit in a professional services firm: opening a dialogue | checklist: 18 essential steps to effective billing
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i’m still seeing a lot of them trying to hold on and control things well into their 70s. i advise them to transfer equity while they are on the top of their game and not when they and the firm are declining. while many take this advice, those who don’t aren’t sure what they will do once they retire. i usually work out a retirement game plan for them.
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