special

cover these five areas of information security

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how to thoroughly safeguard client information.

by penny breslin
it’s not just the numbers

your clients trust you with their information; however, in today’s world, where sensitive information can be compromised and distributed, clients want assurance that their information is safe and that you are protecting them from identity theft.

more: let tech make communication easier | how to craft a service level agreement | how to maximize on-site client meetings | sixteen guidelines for naming conventions | you have to manage three kinds of procedures | tech tips for back office support | decoding accounting tech (and all those acronyms) | digital marketing strategies level the playing field | eight tasks to delegate today
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although certain state laws (check with your state); federal laws such as gramm-leach-bliley (glb), which covers individual privacy disclosures; and the aicpa rules of ethics do provide some protection, we recommend that as the trusted business advisor, you should disclose to your clients how you:

  • safeguard their information in your office and on your servers
  • securely transmit sensitive data
  • closely supervise access to authorized parties only

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microsoft moves further into nuclear development with new director

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coming soon: a global plan for microsoft’s data centers to be powered by microreactors and small modular reactors.

by rick richardson
technology this week

data centers are recognized for using an astonishing amount of energy. experts say they account for 1.5 percent to 2 percent of all electricity worldwide.

to become more environmentally conscious and to combat climate change, it companies have mainly concentrated on powering these through sustainable and renewable energy sources. however, the effort is becoming more difficult because of the growing energy demand brought about by introducing new technologies such as artificial intelligence because this field alone uses around four times as much power as servers use for cloud applications.

more: nuclear battery could keep your future phone running for 50 years | did ancient romans find a solution for climate change? | telehealth advances with ai-powered clinics | fcc approves superfast wi-fi tethering | major websites blocking content from ai crawlers | printer ink: not just expensive, but a blatant scam? | generative ai coming to microsoft 365 | electronic skin that can sense touch will transform robotics | chatgpt passes cpa exam on second try | stanford scientists 3d-print heart tissue
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in recognition of the impending challenges on its data centers, microsoft appointed a director of nuclear development acceleration, an arguably contentious move.

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higher fees to start: ten ways to make your tax season better

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woman smiling as she uses calculators and views charts on computer screens

does your firm look “closed for business”?

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

  1. increase your fees 3-5 percent at a minimum – to offset your increased costs.

more: nine tips for a healthier tax season | every accounting firm needs quality control | no one listens to you? change how you talk | 47 types of business valuation to provide | thirteen things to consider before you sell your practice
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  1. deliver your bill with the return.
  2. call clients before return is sent to explain and give a heads up for unexpected results.

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stress test your clients’ financial plans

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what’s the worst that could happen? ask that now.

by anthony glomski

i wrote this series of posts to help successful entrepreneurs and their advisors learn how they can build on their impressive accomplishments and utilize their wealth to achieve even greater things going forward – for themselves, for their families, for their communities and for the causes they care about.

more: when clients want to manage their own wealth | four attributes your experts need | how a virtual family office can serve your wealthy clients | is your client’s wealth truly protected? | control the level of risk | how to flip the switch to wealth preservation | three ways to work together on wealth | five challenges of liquidating a business
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the fact is, your clients should take their financial health as seriously as they take their physical health. one of the best ways to ensure that their financial plan is strong enough to withstand whatever the market, the economy and life circumstances throw their way is to perform a regular “stress test” of their financial plan.
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accounting hiring hits another high

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line chart
overall employment in the accounting profession

 

tax prep is less than half the increase.

by beth bellor
卡塔尔世界杯常规比赛时间 research

is the accounting profession closing its staffing gap?

it sure seems that way, as employment hit an all-time high in january. women fared well, too, reaching record levels in the field overall and in payroll services.

more: staff wages hit record high | despite staffing crunch, firms freeze pay raises | tax & accounting firms grow for 9th straight month | tax & accounting profession grows, but wages don’t | tax and accounting pay advancing at 5.9% pace | accounting jobs up 4% for year
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

nationally, unemployment held at 3.7 percent as total nonfarm payroll employment increased 353,000, according to the latest data available to 卡塔尔世界杯常规比赛时间 research. of those new hires, 74,000 came in professional and business services, well above 2023’s monthly average of 14,000.
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tax pros handle 37.7% of e-filings

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data table

paper still used by 2.2 percent of filers.

by beth bellor
卡塔尔世界杯常规比赛时间 research

tax season moves slowly forward, and tax professionals slowly gain ground

more: tax pros file 33% of early returns | if only the irs’s tax pro were useful | the nightmare of non-credentialed tax preparers | must the irs be a dark hole? | irs plays whac-a-mole with the phones | tax pros are expanding and earning more
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

as of the week ending feb. 9 – the latest for which data are available – the irs had received 25.6 million individual income tax returns, down 11.4 percent from the same period a year ago. it had processed 25.4 million returns, down 4.4 percent.

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do you focus on data or decisions?

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the difference defines your work future in the ai world.

by hitendra patil
rise of the aiccountants

imagine there is no artificial intelligence.

i know it is tough to imagine this, but for the next two minutes, just imagine there is no ai.

more: what could accounting-specific ai bring? | how to use the three types of artificial intelligence | ai means clients need you more than ever | seven changes ai brings to accounting | humans beat ai in some aspects | why accountants should embrace artificial intelligence | ai brings opportunities for accountants | seven things you must know about ai
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

how have you been working as an accounting professional without ai so far?
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maybe what you need is a marketing audit

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two people seated across table, comparing notes and charts

how to get started.

by august j. aquila
price it right: how to value accounting services

great marketing tactics can take time, money and a great deal of sweat to plan and execute. cpas who appreciate the power of marketing are frequently anxious to jump right into the implementation process without doing any planning. but do they really know what the marketplace wants from them? sometimes gut feelings are right, but few firms can afford to act on intuition alone.

more: clients have six reasons for needing you | four steps to a successful email marketing campaign | five reasons to implement change orders | make your practice better | eleven marketing strategies for smaller firms | five questions for developing your marketing plan | you only have four strategies | the damage that traditional fee methods do
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

investing marketing dollars with confidence requires a thorough understanding of your practice, its people, the marketplace and your competitors. an audit-based marketing plan lets you do just that. this post provides both the theoretical and practical knowledge needed to (1) perform a marketing audit, (2) develop marketing objectives and strategies and (3) implement the plan through an integrated approach.
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leverage your strengths to beat stress

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woman tossing exclamation points into air

24 ways you may be better than you think.

by sandi leyva
the complete guide to marketing for tax & accounting firms

how many times a day do we tell ourselves with the little voice in our head that we’re falling short of the ideal we have for ourselves? “i forgot to add the salt, so i ruined the recipe.” “i’m not good enough.” “i was mistaken.” “i’m not smart enough.” “i didn’t get picked for the finals.” “nobody likes me.” and so on.

more: you don’t have a time problem | ten ways to have more energy this tax season | seven steps to keeping your clients forever | give to receive, and eight more ways to boost sales | five things that clients don’t know about accountants | five ways to wow your clients | how to fight feeling overwhelmed | you’re missing 60% of your revenue | make the most of cpe conferences | beyond compliance: six tips for adding value | track six figures to test your marketing | when you don’t know what you don’t know
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

instead, why don’t we focus on our strengths? a university of michigan psychology professor undertook an extensive research project to discover 24 positive character strengths that each person has to varying degrees.
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if only the irs’s tax pro were useful

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businessman sitting on cloud

the national taxpayer advocate has a long wish list.

by 卡塔尔世界杯常规比赛时间 research

if you are a cpa, tax preparer or registered agent – a tax pro, in other words – there is a slim possibility that you are registered with the internal revenue service’s tax pro  program.

more: can’t irs online accounts be more useful? | id theft a problem for irs even when it doesn’t exist | the nightmare of non-credentialed tax preparers | taxpayer assistance centers: a good idea that should be better | irs still falling short on service | must the irs be a dark hole? | 10 tips to the irs for beefing up staff | eight ways the irs can speed up processing tax returns | irs plays whac-a-mole with the phones | ten irs problems that need solutions | treasury ig sees progress at irs
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but even if you are registered, the odds are vanishingly small that you actually use it.

why? because it’s really of limited use.
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can your tax reviewers answer these 10 questions?

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businessman looking up answers in a book

bonus checklist: the answers!

by ed mendlowitz
tax season opportunity guide

the primary people who should review tax returns are trained tax department reviewers. however, often the bunching and compression of work shifts some of the review to higher level, non-tax personnel such as audit managers and partners who might not necessarily have the comprehensive training, background and experience to handle everything that might come up during the tax preparation process.

more on tax season: the top 12 mistakes in tax return preparation | six types of person: which are you? | answer these two questions first | help your tax clients, help yourself | what’s your value to your tax clients? | are you excited about tax season?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

additionally, in many firms, almost everyone on the staff prepares some returns. that lack of dedicated preparers with the trained skills places an added burden on the tax reviewers, making it important for them to have the range of experience needed to perform the review.

following are 10 questions reviewers should be able to answer to qualify for their role.

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tax pros file 33% of early returns

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table of irs filing data for week ending feb. 2, 2024

a shorter season to date makes comparisons difficult.

by 卡塔尔世界杯常规比赛时间 research

the internal revenue service has fired up the machinery and begun cranking out tax returns. and so begins our annual ritual of tracking how well they do that.

all of the initial figures are double-digit down, largely because of seven days’ fewer collections. the 2023 filing season began on jan. 23 vs. 2024’s jan. 29, so 2023 totals cover 12 days as opposed to this season’s five days.

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