outlook & analysis

statistical snapshot: the nation’s tax & accounting industry

by

stats407,000 firms grossing $13 billion.

by 卡塔尔世界杯常规比赛时间

a new snapshot of the tax and accounting profession shows a vast and, in the main, highly profitable industry.

more than 400,00 firms are grossing over $13 billion a year, based on new data reviewed by 卡塔尔世界杯常规比赛时间. altogether, they run a total payroll of $5.4 billion and net $4.6 billion in profits.

but as many as one in five firms have no profits to report.
there were 42,448 cpa firms in 2013, the latest year available, and 364,902 other tax and accounting businesses, according to the data compiled and estimated by the irs from tax returns. cpa firms took in $4.1 billion in receipts, and the rest of the industry added $9 billion.

the complete set of data, below, reveals details about accounting industry finances and operations.

read more →

the five treacherous factors hobbling today’s cpa firm

by

2016-roundtable-outlook-for-rosenberg-map-commentary-vf-240x219crumbling firm infrastructures, succession, the economy, staffing shortages, and shake-outs.

by 卡塔尔世界杯常规比赛时间
annual map survey

the new rosenberg map survey reveals a few significant things about the state of the accounting business—that growth and profit-per-partner are growing at a negligible rate and that intangible people issues are becoming painfully tangible, for example. but some more subtle truths emerge in the gimlet-eyed observations of those who advise cpa firms.

more on the  2016 outlook & forecast: cpa firm growth rates hit a wall  |  the five treacherous factors hobbling today’s cpa firm  |  sam allred: change agents needed  |  tamera loerzl on growth, succession plans critical for firms  |  allan koltin on talent wars go from white gloves to boxing gloves  |  get the full report: the rosenberg map survey

these truths are not self-evident. but with a little analysis, five trends emerge vividly – trends impacting cpa firms large, small, and middling. so it’s worth having a look:

read more →

four ways to ‘wow’ not-for-profit clients with powerpoint

by

ed mendlowitz cpa the practice doctor q and ahow to create ‘killer’ slides that win over clients.

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

question: i have to provide a 5- or 10-minute presentation based upon my year-end audit to the board of a not-for-profit client. i would like to wow them. any suggestions?

more practice doctor q&a: change your thinking about ‘small’ clients | 12 must-knows for niche markets | when large (or any) clients need backup assurances | lowballing and why it (usually) doesn’t work | how to apply value pricing to bundled services | 6 ways to take a client beyond tax prep | 6 ways to know what you don’t know | 10 do’s and don’ts for making small business clients happy | 6 simple steps to impress a prospect

answer: time is precious, and you should use it to provide the essential “big picture” info and in an easy-to-grasp manner. here are some suggestions: read more →

tax professionals find it increasingly difficult to keep up with late-changing tax regs

by

the number of practitioners reporting major issues with code & reg changes doubles.

z_tax key issues

by 卡塔尔世界杯常规比赛时间 research

across the country, a lot of cpas felt downright punished this busy season as they got hit by problems from all sides. nobody reported earthquakes or tsunamis, but it seems a bunch got slammed by something worse than a tectonic pounding.

bam! pow! oof! yes, it was that dynamic duo, that tyrannical twosome, that yoke of you-know-whats: the united states tax code and the internal revenue service.

according to the 卡塔尔世界杯常规比赛时间 busy season survey, 12% percent of respondents report a busy season “much worse than last year.” another 24% had a “somewhat worse year.” add them up, and more than a third of the nation’s tax preparers suffered a painful busy season.

and the most commonly cited complaint are difficulties with the tax code, ranging from the requirements of the affordable care act to the new repair regs. read more →

the new normal: a busy season that never ends

by

staff woes contribute to major tax season problems

z_tax defining differences

by 卡塔尔世界杯常规比赛时间 research

the 2015 busy season may be one for the records. according to this year’s 卡塔尔世界杯常规比赛时间 busy season survey, more than a third of the nation’s tax preparers report a busy season that was much worse or somewhat worse than last year, and it wasn’t just the cold and the snow. read more →

no joking! how to get cpe for laughs

by

kyte
kyte

register at seattlecomedycpe.com for cpa greg kyte’s aug. 26 web stream.

comedian and cpa greg kyte is taking comedy cpe to seattle. the two-hour fraud class, titled “holy mother of fraud” will be held downtown at comedy underground, seattle’s oldest comedy club.

“there’s something about an ‘education center’ at a state society that spreads the virus that starts the zombie apocalypse: when people arrive, they’re already spaced out,” kyte quips.”by holding a cpe event in an atypical location, like a comedy club, people show up with a curious and engaged mindset.” read more →

what cpa firms could learn from google’s alphabet

by

illustration of gears turning in brain13 lessons in strategy and innovation from google’s founders.

next question: the essential traits for success as an entrepreneurial accountant.
join the survey; get the results.

by hitendra patil
pransform inc.

google’s creation of a new spin-off called alphabet, a new umbrella company that includes google itself, should raise some thought-provoking questions for cpa firms.

more for pro members on the entrepreneurial accountant:  summer reading list: five great books for the five lives of a busy accountant   |   four signs the uberization of accounting has already begun  |   the one word that can make accountants rich  |  management guru chester elton on success  |  savvy cpas focus on the constants  |  10 things that accountants didn’t need to worry about 10 years ago  |  three amazing cpas who want to do tax returns for free  |  can accounting firms lead with work-life vision?  |  why accountants could be the happiest people on earth  | more…

founders sergey brin and larry page remind everyone in the alphabet announcement (at the iconic url http://abc.xyz) what they said 11 years ago, “google is not a conventional company. we do not intend to become one.”

let’s start there. read more →

four major misconceptions about millennials

by

and six management strategies to unleash their potential for your firm.

middleton
middleton

by wesley middleton
middleton raines llp

from the sound of it, millennials are ruining everything. at least that’s how they’ve been made to feel. supposed experts focus on how different the millennials are, how hard they are to understand, to attract and to retain.

after reading the experts, i decided to offer my perspective as a managing partner of a 72-person firm where the average age of our firm is 34.65 and 49 of our people are the age 35 or below.  this experience – along with a 20-year-old daughter and a 17-year-old son – has given me a different perspective.

in fact, the differences between the generations are exaggerated. it’s funny to see how the older generation always looks at the generation behind them and says they are so different and won’t achieve what we have or that they have some “hard to understand” ideas. they said that about me when i was 25.

i love this generation coming up and here is why: read more →

there’s more to growth than marketing

by

ed mendlowitz cpa the practice doctor q and ayou need goals, not just a desire to get new business.

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

question: we are a 20-person firm and are thinking of engaging a marketing consultant for training on how to get new business.

more practice doctor q&a: change your thinking about ‘small’ clients | it’s not sales. it’s your duty | quote with care when asked for valuation | how much should you pay to buy, sell or merge an accounting practice? | why the average fee doesn’t matter | 6 ways to take a client beyond tax prep | 6 simple steps to impress a prospect | 10 ways to get new 1040 clients | 23 reasons clients really need you for taxes

have you heard of anyone in particular for cpa leadership training? what does your firm do regarding this? an internal program or do you use outside consultants? read more →

beyond mentoring to sponsorship

by

young businesswoman working at laptop while businessman looks onbonus checklists: 6 ways to evaluate your firm.

by ida o. abbott
sponsoring women: what men need to know

sponsorship is a personal undertaking. a man who sponsors a woman takes it upon himself to advance her career. he puts his reputation on the line for her and tells the world she is worth it.

learn more
learn more

more on sponsoring women for leadership: protect your protégée from flextime saboteurs | ‘soft skills’ advice needed, too | use others to promote your protégée | 8 ways sponsors can highlight opportunities | 17 ways sponsors can help protégées | what sponsors need from protégées | 3 ways to derail sponsorships | 4 ways sponsors can help women seek power | bias about women with families lingers | judged on performance, not potential? must be a woman | gender bias still a problem | why women are overlooked (and how to fix it) | women need promotions, not just advice | mentor or sponsor? how to distinguish roles | 4 ways women leaders improve firms | cpa firms must ‘man up’ and get women on board

she still has to earn that promotion, but his solid, public vote of confidence – and the power he puts behind it – at least gives her a fair chance to get it. read more →