surveys & research

i’m 76. should i slow down? how?

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senior man working at desk

many considerations factor into the best time to retire.

by ed mendlowitz
202 questions and answers: managing an accounting practice

question: i am 76 and am starting to think about slowing down and selling my practice. i am a sole practitioner with three bookkeepers and a secretary/admin person working for me. i have a nice spacious office in a small building i own.

more: who to hire when it’s time to grow | hourly billing doesn’t cover the value; now what? | should you merge? here’s how to chart your path | when selling a firm to staffers is tricky | want to merge? six steps to take | courting a client? don’t give too much away for free | every accounting firm needs quality control | measure knowledge gaps (then close them) | should you offer financial services? | thirteen things to consider before you sell your practice | how much is your tax practice worth? | ready to retire? selling your practice is no strategy
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i have been approached by a larger firm that wants to buy my practice, but they want a guarantee of retention, and i was thinking of working with them for two years to ease the transition, and then sell. how do i set up the work arrangement?

also, they want me to move into their office, but then i will have to sell my office and the real estate market is soft. also, we will negotiate the price now (a percentage of gross) but how do i know they won’t change their mind, or what happens if the transition period is not good and i have to pull out? what do you suggest i do or how should i proceed?
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determining a price … and when to change it

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consider at least five issues when deciding how much to charge clients for your services.

by jody padar
radical pricing – by the radical cpa

what is the lowest monthly fee paid by any of your clients? you probably don’t want to bring on any new clients at a lower fee, so use this as your new business baseline. no one enters your firm without paying this baseline monthly service fee.

more jody padar

the radical cpa

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however, the question remains whether the client will be billed on a fixed-price or value-priced basis. here are five issues to consider as you make this decision:

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nancy mcclelland: be the one your clients ask first | the disruptors

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rely on your professional network for answers you don’t know. plus 13 key takeaways.

this is a preview. the complete 1-hour video episode, with commentary and transcript, is first available exclusively to pro members | go pro here

the disruptors
with liz farr

nancy mcclelland never intended to start a firm, but after leaving a toxic work environment, she took on a few part-time gigs. because she’d never worked at a cpa firm, she built it “the way it made sense” without bumping up against the traditions of “this is how it should be done.”

more podcasts and videos:  alan whitman: stop accepting the status quo | sean duncan: discover your own genius | ingrid edstrom: true wealth is not financial | caleb jenkins: firm growth requires owners to shift roles | chris hervochon: be the leader you want to work for | ira rosenbloom: don’t merge for the money | adam lean: get out of the accountant’s trap | geraldine carter: charging more is better for your clients | vimal bava: when working smarter, not harder, is the only option | 

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the name of her firm – the dancing accountant – reflects her passion for dancing and membership in several dance troupes, including one where she wears miniskirts and go-go boots. sharing that passion with her clients means putting herself “out there” and having faith that her clients respect her work as an accountant. “and you hope that they don’t laugh too hard at your dancing or that they’re not disappointed to find out that you’re just doing silly, fun stuff.”

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discovery in california could power 375 million electric vehicles

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according to world bank projections, lithium consumption will increase by 500% by 2050.

by rick richardson
technology this week

the enormous, rapidly receding salton sea in the southeast of california holds the key to the global future of clean energy. a new assessment from the u.s. department of energy claims this region contains an abundance of lithium, sufficient to power more than 375 million electric vehicle (ev) batteries. this news places the area as a potential powerhouse in the global lithium industry, surpassing the entire number of automobiles now on u.s. roadways.

more technology this week: five new google maps and waze features | new warehouse robot could revolutionize efficiency | new pacemaker powered by light, no batteries | is nasa about to make air travel cheaper? | your brain can store 10 times more than anyone thought | microsoft discovers a security flaw impacting android apps | ai-engineered enzyme could be solution to plastic pollution | ai named the highest-paying in-demand tech skill for 2024 | lenovo readies new thinkbook laptop with a transparent display | microsoft moves further into nuclear development with new director
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

lithium is essential for the creation of rechargeable batteries, which are used in everything from smartphones to electric cars. given the global push for clean energy and the u.s. goal of increased energy independence, this discovery is a hopeful development. however, as researchers at the university of southern california (usc) warn, there could be severe adverse effects on the environment and public health if america rushes to harvest lithium.

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