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what gig workers want

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and what they need opens new opportunities for accountants and accounting tech.

by 卡塔尔世界杯常规比赛时间

one of the most radical and ramifying shifts in employment economics of the past several decades is the advent of gig workers—the millions of americans working out of their garages, attics, closets and breakfast nooks.

and all of them have unique accounting needs.

accounting firms need them. and venture-backed software startups are chasing them. read more →

accountants agree: the top five ways to fix the irs

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the united states of frustration: schaffer, zulager, toye, devine. (word cloud: 卡塔尔世界杯常规比赛时间 research)

some suggestions: burn it down and start over. abolish the income tax altogether. privatize it.

by 卡塔尔世界杯常规比赛时间 research

if the 卡塔尔世界杯常规比赛时间 busy season barometer were a thermometer, it would be popping its mercury with responses to “how would you fix the irs?”

see: irs tops list of busy season problems

we’re getting a lot of comments, many of them scorchingly hot. accountants and tax preparers are not happy with the government agency that their profession depends on more than any other.

more busy season ’22: survey: big worries for u.s. and small business  |  working harder for every dollar  |  for a few: why busy season 2022 beats 2021 |  can the r&d tax credit be used to offset the amt?  |  21 reasons tax clients fire accountants  |  unhappy about tax season?  |  individual tax refunds up 13%  | shut down the tax charlatans   | eight quick, easy ways to fix irs filing   |  a tax season worse than 2021?  |  16 traits of the best tax clients  | irs under covid: heroes or goats?

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the top five most common recommendations:
read more →

one times fees isn’t the only way

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check the math.

by marc rosenberg
cpa firm mergers: your complete guide

partners in accounting firms are familiar with the rule of thumb that a cpa firm’s goodwill (excluding capital) is worth one times fees. however, like many rules of thumb, this notion is often incorrect.

more: thinking merger? first ask why. | why do you want to merge? be honest. | four reasons to fear a merger
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

when buyers begin to think about how much they will pay for a smaller firm, they often have this one-times-fees notion in the back of their minds. then, when sellers are bold enough to ask for a price in excess of one times fees, buyers often balk.
read more →

my first trainee

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leads to new opportunities.confident businessman analyzing chart and explaining it to co-worker

by ed mendlowitz
call me before you do anything: the art of accounting

i was fortunate early on in my career that i had a boss who gave me responsibility to supervise. on some level i was not really instructed how to supervise, but was told i could use the new person to help me get my work done.

more: the growing pains of a small firm | giving clients the best you’ve got | secrets in specialties | 10 more reasons cpas quit public accounting | when cpas leave to work for a client | when parents, children hit an impasse
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

this was precipitated by an email i received from the first person ever i supervised. i had not spoken to him since working with him in 1968. he emailed me because he read one of my columns and just wanted to say hello. i remembered him and then i recalled how i got started training him – he was the first person i trained.
read more →

brannon poe: the status quo must go

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follow 卡塔尔世界杯常规比赛时间 podcasts on apple podcasts here or grab the rss feed here.

the disruptors: brannon poe
with liz farr for 卡塔尔世界杯常规比赛时间

brannon poe is the founder of poe group advisors and the creator of accounting practice academy. he began facilitating successful accounting practice transitions in 2003. today he is pioneering a consulting-based approach to transitioning accounting firms, culminating in poe group advisors’ proprietary process for a “seamless “succession.”

in this episode, poe tells 卡塔尔世界杯常规比赛时间:

read more →

nine tax season resources that get forgotten

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happy family of four outdoors in winter clothing on snowdon’t take these for granted.

by ed mendlowitz
tax season opportunity guide

we have many resources and need to recognize that. and we need to treat each with its own importance. even if you did everything yourself, you’d still need to rely on your tax software company, fedex and the postal service, stationery supplier, computer consultant, the internet and email, cell phone provider and copier/scanner machine. and that’s just a few of the resources we rely on. managing your resources well creates an aura of security and consistency to your practice.

more: 16 traits of the best tax clients | eight ways to charm a client | plug small leaks before they become big floods | you’re only as good as your last screw-up
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

but there more. and they are often overlooked. or taken for granted. here are some more resources that need to be managed:
read more →

how to deliver authentic value

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female executive greeting coupleconsider it from the client’s perspective.

by steven e. sacks
the new fundamentals

do you ever wonder if events you attend have an air of authenticity around them or are they simply staged? what about the options offered on new cars or the latest and greatest upgrades to a tech gadget? is the hype greater than the actual product? is what is considered innovation really just an incremental change that competitors can duplicate, albeit with minor modifications?

more: what sets your firm apart … if anything? | why deadlines get missed | five reasons you’re not swot-ready | are you productive or just busy? | accounting is a profession, not an industry
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

as for professional services firms, are they providing a unique service in a unique fashion? today, clients are looking at the cost of traditional audit and tax work. because they are commoditized services, the decision is price-driven, so lowballing becomes routine for firms.
read more →

can the r&d tax credit be used to offset the amt?

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portrait of alex pak
pak

check four tests for qualified research.

by alex pak
source advisors

alex pak is a director in the los angeles, california office of source advisors.

the protecting americans from tax hikes (path) act of 2015 includes provisions that allow certain taxpayers to offset their amt liability with the r&d tax credit for taxable years beginning on or after jan. 1, 2016.

more: how the r&d tax credit has expanded over the years | the nine-point plan for handling §179d
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amt limitations

before the path act, amt restrictions prevented qualified companies from utilizing 100 percent of the r&d tax credit. the excess credits were often carried forward. today, small businesses can offset amt using the r&d tax credit for tax years beginning after dec. 31, 2015.
read more →

thinking merger? first ask why.

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businesswoman walking up stairskeep your deal-breakers and must-haves to a minimum.

by marc rosenberg
cpa firm mergers: your complete guide

it’s important to understand the flow of the entire merger process. always start with the big picture before getting into the details.

more: why do you want to merge? be honest. | four reasons to fear a merger
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

every merger has its unique aspects. it’s impossible to choreograph from a to z exactly how the process for each merger will work.

the steps in the process listed below appear in the order of how they commonly occur.
read more →

the art of leadership, lesson one: strategy

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the “best” isn’t enough. “unique” is the secret ingredient.

in his new book, “leading from the edge – creating a standout, high-performing organization,” anthony zecca focuses on the type of leadership that accounting firms need to succeed in a future driven by seismic disruptors.  this is the first in a series of articles that will focus on key aspects of “edge leadership” and the challenges most accounting firm leaders (all leaders for that matter) are facing today. the next article will focus on “the art of leadership – empowerment”.  empowerment without accountability is like making ice without water – can’t be done.

by anthony zecca
leading from the edge

strategy: so much has been written about it and how to create it. harvard’s michael porter famously said strategy is best based on being unique, and not being the best.

more on the edge leader: is your team climbing the right wall? | how to build a standout team | competing for talent in a private-equity world | five keys to becoming a high-performing firm | assessing your firm | the 4 traits of great cpa leaders | why leaders must ensure clarity | incremental vs. exceptional success | do you lead or just manage? | managing vs. leading | is your leadership team at the edge? | 6 leadership challenges through covid and beyond | edge leaders share 7 strengths | leadership must drive culture | leading from the edge
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

sounds crazy but the following quote (slightly modified) is what i think aligns with how an edge leader will think about strategy:

“strategy starts with thinking the right way about competition. many managers (leaders) compete to be “the best”—but this is a dangerous mindset that leads to a destructive, zero-sum competition that no one can win. competing to be unique, on the other hand, is the basis of a sound business strategy…”

how many firms go through the annual ritual of budgeting and partner retreats that in the end, at best, create some tactics that might improve the firm’s results incrementally?  how many leaders at these firm retreats focus on tactics versus strategy?  how many leaders think that developing long-term strategies (3 to 5 years) is unproductive given the challenge of thinking about the future so far down the road?  finally, how many leaders, when strategy is discussed, focus on being the best versus being unique?

read more →

the big issues in audit: frustration, inconsistency, and technology

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businessman pressing a "future" concept button

discussing audit transformation and innovations, one advisor said the field is ripe for technological solutions that allow team leaders to focus on advising clients and help team members streamline processes for automation.

by the center for accounting transformation
improvetheworld.net

in kicking off an inaugural meeting with audit industry experts, donny shimamoto, cpa, citp, cgma, asked the group, “what does the modern or leading-edge audit practice look like?”

related:  top issues: talent, time, and transformation

learn more about the center’s audit advisory board or view the center’s transformation courses.

the group, which met for the first time recently, is the center for accounting transformation’s audit advisory board. shimamoto, who created the center, brought together audit professionals with various backgrounds to help guide strategic direction, services, and program planning for the center, which helps professionals through the adoption and change required to step into the future of the accounting profession.

read more →