outlook & analysis

wages up, headcounts down at tax & accounting firms

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are these the signs of a business model makeover?

by beth bellor

the tax and accounting industry is marking its 15th consecutive month of jobs growth, led by cpa firms and payroll services, according to the new 卡塔尔世界杯常规比赛时间 research study on jobs trends. the new analysis shows wage increases coming even as the pace of hiring is weakening and hours worked hits a four-year low.

more on jobs: tax & accounting salaries increase 2.8% | accounting profession growing, but slowly | accounting employment creeps back up | regional cpa firms go head-to-head with big four in talent wars | global talent wars hit home for local firms | tax & accounting industry shows signs of slowdown
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in this report, 卡塔尔世界杯常规比赛时间 highlights:

  • current hiring trends in each of the bookkeeping, payroll, tax and cpa segments of the industry.
  • average hourly wages for key segments
  • typical hours worked per week
  • trends concerning women in the accounting workforce

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accounting profession growing, but slowly

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join the survey; get the results.

more employees are working fewer hours. but not in payroll.

who’s hiring. who’s not. and why.
join the survey. get the answers.

by beth bellor
卡塔尔世界杯常规比赛时间 research

with cpa firms expanding an annualized rate of 2 percent, the tax and accounting profession may be growing, but in fits and starts rather than leaps.

more on jobs: accounting employment creeps back up | regional cpa firms go head-to-head with big four in talent wars | global talent wars hit home for local firms | tax & accounting industry shows signs of slowdown | global tax talent shortage mounting into ‘perfect storm’ | accountants without borders: tight talent pool drives salary increases nationwide | cpa firms post 5% growth rate | how to set your firm apart to recruits
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high points – and by “high” we just mean increases of 3.5 percent or more, so not stunning – include staff and women at cpa firms, as well as overall tax preparation services and payroll services employment, all year-over-year increases.

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

  • current hiring trends in each of the bookkeeping, payroll, tax and cpa segments of the industry.
  • average hourly wages for key segments
  • typical hours worked per week
  • trends concerning women in the accounting workforce

read more →

cpas put the brakes on price increases

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non-cpa tax and accounting firms hit the gas pedal.

long-term view: pricing index at cpa firms (index = 100, 2003)

 

which pricing strategy works best today?
join the survey. get the answers.

 

by rick telberg
卡塔尔世界杯常规比赛时间 research

under pressure by an increasingly competitive and uncertain business environment, cpa firms are pressing the brakes on new price increases, according to new data obtained by 卡塔尔世界杯常规比赛时间

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the 10 fastest-growing industries in the u.s.

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the race for fast-moving clients.

by 卡塔尔世界杯常规比赛时间

if you already have clients in the information technology industries, you probably already know that keeping up with new developments is a challenge.

but do you know about the other nine of top ten fastest growing industries that should be attracting intense cpa firm competition?

according to new data from sageworks, a financial information company, construction-related businesses make up much of the rest of the list.

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accounting employment creeps back up

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the pattern is there’s no pattern.

by beth bellor
卡塔尔世界杯常规比赛时间

the wild swings of 2016 are behind us, as employment and compensation figures fluctuate but within mellow ranges, according to a new 卡塔尔世界杯常规比赛时间 analysis.

more on jobs: where the jobs are (and what you need to get them) | tax & accounting industry shows signs of slowdown | cpa firms post 5% growth rate | how to set your firm apart to recruits
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

high points year over year were tax prep at 3.6 percent, payroll at 4.3 percent, and women in payroll at 5.3 percent.
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analysis: local firms worldwide are losing the wars for talent and for clients

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getting new clients tops the list of chief concerns for local firms worldwide. but the staffing shortage surges into second place. via ifac

the eight moves smart firms are making today to win tomorrow’s battles.

by rick telberg
卡塔尔世界杯常规比赛时间 research

does the tax and accounting profession have a role to play in global peace, harmony, and understanding?

you may think so, based on a new 卡塔尔世界杯常规比赛时间 analysis of a global survey of small, local, and mid-size accounting firms.

the study paints a picture of a global community of local firms with shared aspirations, expectations, challenges, and opportunities – despite (or perhaps because of) rising nationalism, protectionism, and conflicting political regimes.

more on talent managment: global tax talent shortage mounting into ‘perfect storm’  |  accountants without borders: tight talent pool drives salary increases nationwide  |  how to create a talent management strategy |  survey findings: talent wars, m&a frenzy continue  |  why job descriptions matter  |  how to develop home-grown future leaders  |  new staffing strategies for the next-generation accounting firm

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

in fact, the research finds that the talent shortage plaguing unites states firms is now turning into a global problem. that is, by no means, a good thing. but it is another item all firms across the globe can share in common. and it is another chink in the armor of the so-called traditional business model of the owner-operator accounting firm because most of the issues flow from two overriding factors: rampant under-pricing or owner greed (or both) that fails to build up capital reserves for re-investment in the business, and the lack of access to other sources of funding.

it’s enough to make us wonder if solutions to global problems are beyond the ability for individual nations to solve alone. instead, multi-national worldwide strategies may be required. maybe that’s part of the reason the american institute of certified public accountants is rebranding itself as the association of international certified professional accountants (still, just the “aicpa” to most).

but today, owning, operating or working in a perfectly “average” firm is not necessarily a sign of success. instead, “average” seems doomed to obsolescence in irrelevancy – and on a global scale never before seen in the profession.

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analysis: global tax talent shortage mounting into ‘perfect storm’

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click read more>>> to download full pdf

good for talent; tough for employers: retirements, turnover, and outsourcing.

by rick telberg
卡塔尔世界杯常规比赛时间

“change is coming to the tax profession potentially as a ‘perfect storm’ in 2017,” according to some leading executive recruiters, explaining the upcoming tax reform is still unknown but will likely result in tax professionals needing to quickly change and adapt to new rules and regulations.

more careers & hiring: accountants without borders: tight talent pool drives salary increases nationwide  |  how to create a talent management strategy |  survey findings: talent wars, m&a frenzy continue  |  why job descriptions matter  |  how to develop home-grown future leaders  |  new staffing strategies for the next-generation accounting firm

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

“additionally,” they say, “u.s. corporate tax departments will potentially explore outsourcing arrangements. citing the arrangement between pwc and ge, they ask, “is this a one-off situation or a transformational trend?” in the pwc/ge deal, ge hived off its tax department to pwc, which then assumed the ge tax department’s activities as an outsourcing engagement.

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irs taxpayer advocate questions preparation of tax preparers

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three big issues: code, cooperation, competence.

table shows reduction in irs geographic presence and employees since 2011.

 

by rick telberg
卡塔尔世界杯常规比赛时间

national taxpayer advocate nina olson, who heads the taxpayer advocate service, is citing three broad areas that congress should deal with if it hopes to avoid revenue catastrophe at the internal revenue service.

related: future state or future shock? irs watchdog warns of dubious irs plans

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the three main issues are: read more →

future state or future shock? irs watchdog warns of dubious irs plans

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questionable solution: irs outsourcing taxpayer communication.

 

by rick telberg
卡塔尔世界杯常规比赛时间

a few years ago the internal revenue service launched a belt-tightening overhaul it called the future state.

the changes were devised with good intentions. the service wanted to deal with taxpayers more through the internet and less over the phone or in person. it would also expect taxpayers to hire outside tax specialists to give them advice that the irs had once offered as a free service.

ideally, all of this would reduce the cost of collecting taxes. but the taxpayer advocate service soon warned that the changes would lead to more aggravation and less goodwill among taxpayers. less goodwill, the tas said, could lead to less compliance, which translates into less revenue to the united states treasury.

the irs heard the warnings and initiated a country-wide series of forums and a website dedicated to explaining the future state plan. irs representatives even went before congress to explain that the service was not eliminating all phone or personal contact with taxpayers.

national taxpayer advocate nina olson, who heads the tas, commended the irs on these outreach efforts, but she felt that the real problems had not been addressed. the plan failed to consider and incorporate the needs and preferences of people who are expected to voluntarily comply with their tax obligations, i.e., american taxpayers.

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the economy’s biggest winners & losers from immigration

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cpa firms with clients in coastal and southern border states may be most vulnerable to loss of immigrant economic activity.

economic impact of immigration, ranked by state. source: wallethub

by 卡塔尔世界杯常规比赛时间 research

if there’s ever any massive curtailment of immigration into the united states, cpa firms in states along ocean coasts and in major metro markets may be the most vulnerable to losing prospective clients and future job candidates.

a new study of demographic trends nationwide finds that immigrants play an especially key role in economic growth on both coasts with california, new jersey, florida, new york and hawaii, ranking as the states with highest percentages of jobs created by immigrant-owned businesses.

the study, conducted by the personal finance advisory web site wallethub , further finds that california, new jersey, new york, delaware and massachusetts are where foreign-born people hold the greatest percentages of jobs in the fast growth technology science, technology and engineering fields.

meanwhile, new jersey, along with the district of columbia and its neighbors virginia and maryland, are where households headed by immigrants have the highest incomes.

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2017: old challenges, new opportunities

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the five issues that will determine success or failure for firms

business hand holding hot chart in crystal ballby bill carlino
transition advisors

the landscape for public accounting in 2017 and beyond can be distilled into two categories: challenges and opportunities.

and how cpa firms engage both will, for the large part, determine their viability and even existence in the ensuing years.

the truth is that you simply can’t operate a cpa firm in 2017 like you did in 1980 and hope to be successful. it’s still astonishing how many firms remain stubbornly entrenched in antiquated business models developed by the baby boomers and even generations before.

the good news for the profession is that the recession of 2008 appears to be safely in the rear view mirror in terms of impacting cpa firm growth. growth for the top 100 firms topped over 9 percent according to the most recent statistics available, while firms $2 million and under registered growth of more than 8 percent.

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