outlook & analysis

e-filing by tax pros slows for third straight week

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after a fast start at the beginning of the season, the pace of e-filing by tax professionals continues to brake, compared with the same time last year. but the number of do-it-yourselfers is growing briskly.

irs statistics for week ending march 6, 2015

related: have fun this tax season! | tax preparation fees: the national averages [infographic] | irs form 3115: a sin and a travesty | how to get paid faster this tax season | accountants see solid business gains in 2015 | as market share slips away, accountants look beyond the 1040 | irs emerges as major tax season competitor | tax pros losing market share to self-filers

tax professionals e-filed over 33.4 million returns through march 6, 2015, down 4 percent from the over 34.8 million returns e-filed by the same time in 2014. read more →

3 ways to plug your firm’s money leaks

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money coming out of sink faucet and going down drainit’s all about the daily processes.

by sandi smith leyva
the accountant’s accelerator

everyone is looking on the income statement to find places to cut their business expenses. but the best place to look is not on a report.

more on small-firm growth strategies: 7 ways to get new revenue from old clients | draw new clients in like a magnet | 11 ways to add value for clients | 9 ways to increase sales through ‘power networking’ | 5 things you know that clients don’t | 3 ways to test your revenue forecast | how to work the same hours and make more money | if you’re a ‘best-kept secret’ cut it out! | busy season survival tips: 5 ways to turn a tough day into a great one | take advantage of 4 key marketing strategies  | four ways to stop leaving money on the table

it’s in the habits, processes and procedures that you and your team do through your workday. it’s also in the mindsets, the inner game you bring to your work.

here are my top three money leak sources for you to look at and see what you can find:

read more →

irs defanged by 20 years of budget cuts

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irs criminal prosecutions over the past 20 years / trac

prosecutions down 16 percent in 2014.

budget cuts are clearly undermining  the nation’s ability to collect tax revenue and enforce tax laws, widening already gaping budget holes, 卡塔尔世界杯常规比赛时间 data show.

for instance, tax prosecutions, which peaked during the early clinton administration, bottomed during the bush administration. read more →

retirement plan funding? what funding?

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young businessman clipping hedge into dollar signweighing 2 pros… and 6 cons.

by marc rosenberg
retirements & buyouts

ninety-nine percent of all cpa firms’ retirement benefits are unfunded. (this excludes the many instances where firms carry life insurance on partners because it only covers retirement in the case of death).

more on retirement: vesting can cover part-timers, too | retirement vesting: the devil’s in the details | compromise is in order for some goodwill payouts | if clients leave, do you reduce retirement benefits? | why you’ll get less from your partners in a buyout than you might by selling the whole firm | the multiple of compensation method, fully explained | clients leaving? time to reduce retirement benefits | how to set terms and limits for goodwill payouts | 4 ways to decide how to pay out capital | partners may balk at guaranteeing retirement obligations

there are two types of funding:

read more →

how accounting geeks and techie nerds can play nicely together

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the budget demands it.

by donny c. shimamoto
intraprisetechknowlogies

accounting geeks and it nerds are folks from different countries, different cultures, different ways of life.

they speak different languages and they have different objectives within their organization. the accountants will never fathom – nor should they have to fathom – the hardware and software needs of the it department. likewise, it has more important things to do than deal with the intricacies of accounting. read more →

firms need a ‘learning culture’ to stay current

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businesswoman at desktop computertraining has to be given chargeable credit.

by roman h. kepczyk
quantum of paperless

for many firms, the ability to identify, standardize and implement best practices is the last remaining competitive advantage in business today as communications tools and access to technology have become available to everyone.

more on tech spending: standardize quickbooks support for clients | automating bank deposits offers instant roi | how to ‘go digital’ when partners demand monthly p&ls on paper | digital tools streamline audit production | tech tools for today’s properly equipped field audit teams | how to cut tax prep costs with scanners | making digital tax process easier is all about the workflow | why firms need document retention standards | intranet is the best place for firm knowledge | new tech tools for the 24/7 accounting firm | the single best defense against computer viruses | how to choose the right backup system | where laptops rule at cpa firms today | step 1 in building the paperless firm: scanners

to take advantage of the continuous stream of innovation and opportunities, firms must adopt a “learning culture.” this requires a formal process to capture and standardize best practices in every department within the firm so that every person can take advantage of them.

read more →

tax and accounting firms lengthen hiring spree

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growth in most segments continues.

bureau of labor statistics for february 2015

the u.s. tax, accounting and bookkeeping industries are among the economy’s bright spots, according to 卡塔尔世界杯常规比赛时间 sources.

here 卡塔尔世界杯常规比赛时间 reports on:

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

overall, the u.s. economy added 295,000 jobs in january, with 51,000 of those in professional and business services. the unemployment rate fell 0.2 percentage point to 5.5 percent. read more →

in sales, perception is reality

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you have to believe in yourself. by martin bissett “no man has the ability to step outside of the shadow of his own character.” — robespierre as far as our potential clients are concerned, how they perceive us is how … continued