tax pros are expanding and earning more
income tax prep prices hit $248 for individuals, $604 for business returns.
by 卡塔尔世界杯常规比赛时间 research
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how to implement collaborative wealth management
this is an ongoing process, not one and done.
by anthony glomski
your $5 million high-net-worth practice
just like starting a business or building a practice, most of your successful clients know that nothing truly valuable is free or easy. same goes for their pursuit of financial freedom. it will take hard work, discipline and smart thinking to overcome and solve those challenges.
more: five challenges of liquidating a business
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but what most type-a business owners, executives and professionals you work with don’t realize is that they don’t have to do it alone. there is plenty of help available to empower them to close the gap between where they are today and where they want to be down the road. chances are they’re going to reach out to reach out to you (their cpa) first for guidance. will you be ready when they call?
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the art of prompt engineering for accountants
the latest skill you didn’t know you needed.
by sandi leyva
the complete guide to marketing for tax & accounting firms
with the rise of artificial intelligence tools such as chatgpt, accounting professionals need to add a new skill to their toolbox: prompt engineering. but don’t worry, it doesn’t have much to do with engineering, and the learning curve is quite achievable for everyone. the best part is that the payoff can be game-changing.
more: what can chatgpt do for accounting professionals? | grow your revenue with three marketing strategies | you’re missing 60% of your revenue | calculate your business relationship ratios | make the most of cpe conferences | set bold new goals for the rest of the year | generative ai: should you avoid it or adopt it?
prompt engineering delves into a world where numbers meet language. while it might sound like a far cry from balance sheets, ledgers and tax forms, it’s an easy concept to understand. let’s dig into the basics and benefits of prompt engineering for accounting professionals.
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want higher profitability? turn to cas
the effects of various pricing strategies.
by hitendra patil
client accounting services: the definitive success guide
pricing your services correctly to ensure reasonable profitability is a major decision you will take in your client accounting services practice.
more: cas requires reaching out more | your cas engagement letter needs a reset option | help your clients run their businesses better | cas tech stack depends on cloud use | five ways to profit from cas | cas is a value pitch | accountants are perfect for virtual cfo roles | raise client expectations with cas | the why behind your cas why
the accounting profession’s largest cas survey results revealed how cas firms price their cas offering:
- the topmost method of pricing the cas offering is fixed/flat fee, used by 41 percent of the respondents.
- the next common method of pricing cas is “mixed method of pricing” (a mix of hourly, fixed and value pricing), charged by 36 percent of respondents.
- hourly billing method is used by 33 percent of respondents.
- about 28 percent of respondents use value pricing as the method for cas pricing.
150 hours revisited: the profession needs a facelift
what if pipeline issues aren’t related to education or experience but rather just image?
with steven sacks
the new fundamentals: thriving in disruption
while firms and accountants continue to lament staffing challenges and research continues into finding workable solutions for firms and finance teams of all sizes, one idea that is beginning to gain more traction has less to do with education versus experience and more to do with marketing.
david bergstein, cpa, citp, cgma, discussed the future of the profession, specifically the ongoing discourse surrounding the perceived necessity of a fifth year in accounting education.
more steve sacks: how do you value your most important asset? | which is better: a year of education or a year of experience? | sell service, not hours | private equity vs. the cpa firm partnership | cas or caas? getting clarity | fine-tuning the subscription fee model | when cyber-crime hits close to home | how to build a winning proposal | six ways to fix your firm agreement | the great resignation or a reshuffling? | listen to learn | build the framework to a solution with five answers | try for success, not a win
bergstein challenged the conventional wisdom surrounding the 150-hour requirement for cpa eligibility, suggesting that the industry’s primary challenge lay not in the academic threshold but in the misperception of accounting as a lackluster career. “we’re beating a horse that’s almost dead,” he remarked, questioning the emphasis on extending education rather than redefining the profession’s image.
manage knowledge as a marketing tool
what do we know when we say know?
by bruce marcus
professional services marketing 3.0
editor’s note: 卡塔尔世界杯常规比赛时间 was privileged to have a long relationship with bruce w. marcus, who was ahead of his time in his thinking and practice in marketing for accounting. we are publishing some of the late expert’s evergreen work, which retains wisdom for the present.
the road to knowledge management, now well-traveled, seems to end with the science of acquiring and retrieving data. the end of that road, which was built mostly by the brilliance of computer scientists, stops where a clear understanding of the meaning of useful knowledge begins.
more: how to put target marketing into context | four things better than a company song | let’s lose the word ‘image’ | the risk in not understanding risk | what your marketing program can and can’t do | nine reasons that prospects say yes | how marketing evolved to 3.0 | accountants don’t sell soap. | why competition matters most
but with the growth of knowledge management as a discipline in many aspects of professional practice, some definitions may help forge a new direction for knowledge management that not only move the subject to a new realm of discovery, but may help find ways to make knowledge more useful as a management and marketing tool. we now seem to know a lot about gathering data, and are learning to turn data into knowledge. knowledge must now be adapted to work for the firm, and especially for the firm’s marketers.
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eleven marketing strategies for smaller firms
you probably haven’t used all of these.
by august j. aquila
price it right: how to value accounting services
small firm owners know they need to market, but they don’t always know which marketing activities they need to focus on. here are 11 strategies for increasing your client base that are easy to implement.
more: five keys to successful marketing | how does your firm measure up? | six questions before asking for all the referrals you deserve | five rules for a marketing orientation | four ways to prepare for new business development
1: get known in the marketplace
before you start marketing, you need to answer these two questions:
- who are you?
- what do you offer?
bissett bullet: do you need it?
today’s bissett bullet: “before you invest in the latest software…”
by martin bissett
see more bissett bullets here
when clients haven’t filed taxes for years
help them put a stop to this.
by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor
it is not unusual to meet with potential clients that have not filed tax returns for many years.
more on marketing: seven keys to a complete succession plan | how to begin a business valuation | how to offer conflict resolution | get your clients talking about retirement | when clients remarry | seven questions to suggest estate planning | four reasons to perform tax projections | four additional services to suggest
with these clients it is important to get them to understand the seriousness of their situation and that the sooner they comply, the greater the likelihood that the worst they would be subject to would be penalties for late filing and payment if they owe money.
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decoding accounting tech (and all those acronyms)
how to choose what’s best for your team and clients.
by penny breslin
it’s not just the numbers
with accounting software and add-ons, from the standpoint of the person maintaining the “books,” the accounting program is the focal point. however, consider the focus of your business-owning client.
more: do your apps play well with others? | understand your online marketing options | digital marketing strategies level the playing field | it’s ok to have favorite clients | narrow your prospects by choosing a vertical | eight tasks to delegate today | ten questions for teamwork | build your team, then choose your clients | advisory services done your way | yes, you can be an outsourcer | how back office support adds value
their focus is operational. so, consider that for the business owner, the add-on is the accounting program. having the correct package of cloud-based programs turns the accounting program into a basic general journal that you, in your accounting hat, use to find any inconsistencies.
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it’s okay to say no to clients (even the large ones)
working with “smaller” clients can often be more rewarding – and profitable – than “big” clients.
by frank stitely
the relentless cpa
there’s a reason you aren’t actively training clients to allow you to work efficiently. you’re afraid that you’ll lose clients.
i guarantee that you will.
more: control your time: avoid ambush meetings and calls | get clients to bring tax docs early … yes, early | why time tracking still matters | make fewer mistakes, increase revenue and capacity | six ways to create a millennial-friendly firm | do you know your turnaround time?
clients have trained you to be inefficient. they’ll resist retraining. some of them will leave and infect someone else’s practice.
the reason you fear losing clients is that you fear you can’t replace them.
printer ink: not just expensive, but a blatant scam?
are you really sure how much ink you’re buying?
by rick richardson
technology this week
those incredibly cheap entry-level printers you find when sorting your options by “price lowest” can be very alluring if you’re in the market for a new inkjet printer. however, don’t assume it shows you’re getting a good deal.
more: bill gates behind next-generation nuclear plant | your boarding pass could onboard hackers | 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 | four of today’s new technologies that will be tomorrow’s ‘norm’ | cyber insurance costs rise in health care as attacks soar | phishing attack hackers have a new trick
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just as a drug dealer can offer a cheap initial “sample” to get you hooked before raising the price on all subsequent transactions, printer manufacturers use a similar business strategy. they can easily make up any loss from the printer’s discounted sale by offering its ink cartridges for exorbitantly high prices. the printer firms then keep you on the hook for paying these outrageous ink rates for the duration of the printer, which is a very lucrative revenue stream for them.
let’s take a closer look …
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you’re doing email wrong
there must be a better way.
by seth fineberg
email has always been an albatross of sorts for firms. most firms use it as their primary source of communication and are under the belief that they are “secure” if they use encryption. add the fact that having personally identifiable information on your machine is illegal, which equals one thing: you’re doing email wrong.
more fineberg: careful… you may be advising! | when live events fail | getting real: accounting tech decisions you need to make today | who’s in control? you? or your clients? | time management rule #1 for accountants | why vc is a bigger threat than ai
more on email & cybersecurity: why business email is doomed | the 7 categories of cybersecurity solutions firms need | the why, what and how of cybersecurity for accountants | top tech tools for building your new bos business | yes, ai writes better emails | survey: records management tops email challenges | three apps for ‘inbox zero’
email was never meant to be this nebulous communications zone. nor was it intended to be a source of truth or document and communications exchange storage. and now, with new data security laws, there are strict controls on how to use email.