special

make sure your firm understands the value of cas

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three businesspeople looking at laptop and smiling

your partners will apply their expertise to generate insights and advice that your clients will value more.

by hitendra patil
client accounting services: the definitive success guide

unless you become the “cas champion” or make someone accountable to be one, your client accounting services practice will not take off the starting blocks.

more: save 75% with one banking change | you, a virtual cfo? why not? | who is ready for client accounting services? | wants? needs? cas helps fill both | automation can be exciting in client accounting services | eight steps for better client accounting services | do you have the client accounting services mindset? | four ingredients to your cas ‘why’ | cas clients are ‘stickier’
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and the single biggest initial challenge for the cas champ is how to communicate the value of cas to the firm’s future fortune to every stakeholder – be it partners, staff, clients and prospects. for this post, i will assume that your cas champ absolutely “gets it.”
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jason blumer: serving your team is the ultimate leadership strategy | gear up for growth

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discover why intentionality and clarity are key traits for successful leaders.

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gear up for growth
with jean caragher
for 卡塔尔世界杯常规比赛时间

leadership in accounting firms requires a shift from technical expertise to guiding and empowering teams. jason blumer, founder and ceo of blumer cpas, discusses the journey of embracing leadership roles, overcoming self-doubt, and fostering a service-oriented mindset on gear up for growth,

gear up for growth spotlights the best strategies for smart and efficient growth in today’s competitive landscape. more gear up for growth every friday here | more capstone conversations with jean caragher every monday | more jean caragher here | get her best-selling handbook, the 90-day marketing plan for cpa firms, here | more 卡塔尔世界杯常规比赛时间 videos and podcasts here

blumer is no stranger to innovation and leadership. recognized as one of accounting today’s 100 most influential people in accounting and a cpa practice advisor. with over two decades of experience leading a thriving cpa firm and coaching accounting entrepreneurs, blumer’s expertise is a beacon for those navigating the challenges of leadership in today’s fast-paced industry.

“effective leadership involves creating future leaders and tackling difficult conversations head-on,” blumer says. “it’s about fostering a culture of accountability and trust while confronting the discomfort that often accompanies leadership responsibilities.” 

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being a partner is great! have you told your staff?

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womand and man seated side by side at table in front of laptop, hanging plants in background

don’t assume they know how good you have it.

by marc rosenberg
cpa firm staff: managing your #1 asset

conveying to staff why it’s great to be a partner at a cpa firm is one of the weakest areas of partner performance. it’s also a best practice for managing staff.

more: what it takes to get a promotion in accounting | generational differences can’t be ignored | eight strategies for recruiting | training? cpe? they’re not the same | what leadership looks and feels at cpa firms | the importance of great bosses | why staff leave cpa firms … and how to stop them | how accounting staffing has changed
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true story

we worked with a five-partner firm on the east coast on succession planning. the partners were all in their late 50s and 60s and two or three of them planned to retire in the next five years. they were wrestling with a tough decision: do we merge into a larger firm as our exit strategy or do we/can we gradually turn the firm over to our three managers, all of whom have the talent and experience to be a partner? they dreaded the former option and preferred the latter.
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jeremy dubow: private equity as a catalyst for growth | arc

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ceo says private equity isn’t about cost-cutting—it’s about investing in technology and talent.

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accounting arc
with donny shimamoto
center for accounting transformation

the accounting profession is evolving, and if private equity is any indicator, firms like prosperity partners are leading the charge. in the latest accounting arc episode, host donny shimamoto, cpa.citp, cgma, speaks with ceo and pe-backed prosperity partners llc co-founder jeremy dubow, cpa, about the firm’s innovative approach, private equity backing, and non-traditional practices. 

more accounting arc: breaking the burnout cycle in accounting | accounting in transition: 2024 reflections & the road ahead | ron baker: visions for the accounting profession | angie grissom: next gen inspo for accountants | does accounting belong in stem? | rose wang: where numbers meet strategy and creativity | tiktok fraud exposes gaps in financial literacy | how accounting pros own the stage in public speaking | greg kyte: being a cpa is like being the marie kondo of numbers |

new: m&a, pe, or independence: chart your cpa firm’s future in 2025 – webinar jan. 28

“we’re not your traditional firm,” says dubow, who started the firm with two partners in 2003 as ndh advisors, and sold a stake to unity partners in in 2023, rebranded as prosperity and launched a series of knock-on acquisitions. “we focus on transformative technologies and people-first culture to redefine what an accounting firm can achieve.” 

unlike most accounting firms, prosperity partners operates without an attest function. “our roots are in tax and client accounting services,” dubow explains. this focus has allowed the firm to streamline operations and specialize in high-demand areas such as mergers and acquisitions and litigation support. 

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offer three tiers of service

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hand drawing a rainbow-colored 3

are there ways to add on other services? of course.

by jody padar
radical pricing – by the radical cpa

a tiered service offering should provide your clients with three options. according to experts in mindset and pricing, if you provide three options, people will usually choose the one in the middle. that’s the one you are aiming for them to buy.

more: how to create price packages | seven steps to determining your price | how to scope before you price | seventeen questions to ask when scoping | four steps to scoping for alignment … and the #1 rule to remember | here’s how profit sharing improves your firm | productize services for consistent client value | four ways automation pushes the paradigm shift | how value pricing impacts your employees | why pricing is so disruptive | accounting disruptors are heading your way … with deep pockets | advisory work must be priced by value, not hours
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also, don’t forget that people buy the payment, not the car. there’s an entire mentality around monthly pricing. if you tell a client it’s a $24,000 engagement, they will balk. they would rather pay $2,000 a month than the full amount all at once. of course, some clients will offer to give you the full engagement amount up front if the price is discounted. from a cash flow perspective, you can offer a small discount if a client is willing to pay this way.

creating your service packages is not a one-size-fits-all activity. there should be different tiered service options for each client persona. it is also important for clients to know that they can upgrade or downgrade their service level when needed.
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is your team ready for tax season?

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happy multi-ethnic business team with thumbs up in the office

three ways to prepare.

by ed mendlowitz
tax season opportunity guide

if you have staff, have happy cheerful helpful people. don’t surround yourself with downers and naysayers.

more: six methods for getting paid faster this tax season
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also have team players. part of this is your firm’s culture. it takes work to get people to work together and to focus on doing what it takes to service the client fully, properly and timely.  everyone working together gets it done.
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art werner: due diligence and irs enforcement | quick tax tip

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the irs is increasing scrutiny, and your due diligence must meet the challenge.

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quick tax tip
with art werner
cpe today

as the irs increases its enforcement efforts fueled by new funding and additional agents, understanding and practicing due diligence is more critical than ever for tax professionals. due diligence requirements, established to ensure compliance with tax law, place a significant responsibility on tax practitioners to verify their clients’ eligibility for certain tax benefits.

click here for more art werner

tax professionals must now certify positions related to the american opportunity tax credit, the earned income tax credit, the child tax credit, and the filing status of head of household. these certifications require meticulous documentation, a thorough understanding of the client’s situation, and adherence to the law.

failing to uphold due diligence can have serious consequences.

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make ‘done but’ tax returns a thing of the past

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six people around work table

eliminate bottlenecks by asking better questions.

by frank stitely
the relentless cpa

a project hung up in process is one where there is a disagreement between people involved in a project as to the status. for example, a client thinks he has answered your tax return questions, while you believe he has not. another example is when a tax return preparer believes a return is ready for review while the reviewer does not believe it’s ready.

more: use humor to get tax documents in early
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the result of a hung-up project is a dead project – one that’s not moving to completion.

if a tax return gets hung up, eventually your client calls you, and you get to waste time determining why the project stopped moving. this increases work in progress (wip), which increases turnaround time.
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mike sylvester: learn to say no | the disruptors

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be blunt. give your clients the advice they should hear, not what they want to hear. 

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

 subscribe to 卡塔尔世界杯常规比赛时间 podcasts anywhere: apple, google/youtube, spotify, iheart, deezer, amazon music, audible, player fm, audacy, rss.

the disruptors
with liz farr

the talent crunch in accounting isn’t an issue for mike sylvester. last year, 40 accountants applied to work at his firm, sbs cpa group. he’s had serious inquiries from people at top 50 firms eager to work with him. further, he just hired someone from a top 10 firm who says the benefits are better and who will make $10,000 more while working 300 fewer hours.  

more podcasts and videos: salim omar: identify your client’s $100,000 problem | jackie meyer: earn more with fewer clients | jack fleherty: don’t be a ‘yes’ person | greg adams: from finance to storytelling | the disruptors | jody padar: make radical changes now if you want to be relevant in 2030 | rebecca driscoll: amplify reach by helping other firm owners | rory henry: create the return on relationships | mike maksymiw: be the leader you wish you had | terrell turner: build a solid business showing up as yourself | kelly mann: be the bull in the china shop | alicia katz pollock: create a human-centric business |  nancy mcclelland: be the one your clients ask first |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 |

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his not-so-secret secret? he talks “over and over and over” on twitter about the unique way his firm operates. during busy season, all team members –even the partners – are paid overtime on 60-hour weeks. then, after april 15, everyone works 32 hours a week and gets 37 three-day weekends in a row. “it’s a very popular schedule,” sylvester said.  

his team agrees: he’s had zero turnover in the last four and a half years.

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the six roadblocks to innovation

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businesswoman opens door to brick wall

and how to rethink client service.

by alan anderson, cpa
transforming audit for the future

“we cannot solve our problems with the same thinking we used when we created them.” – albert einstein

when most auditors hear the word “innovation,” they think it has to do with getting more technology. but that’s only a small part of what innovation means. innovation isn’t just throwing more technology at your audit processes. that approach is often just replicating with technology what you have done in paper for decades.

more: how to advance from audit to advisory | create a culture of audit quality assurance | what quality in audit leadership means | business-minded approach helps build a better firm | are you looking at the big picture? | meet your client all year, not just during audit | give your audit teams tasks that increase business acumen | are you using the right business model? | give advice while remaining independent | stop mixing up your v’s and losing your best people | empower your team by dumping c and d clients | the new formula for an accounting business
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according to an article in forbes, “innovation is the rethinking or reimagining of a business process that already exists.” applied to audit, innovation is reimagining what audit is and what audit can be. it’s the transformation of audit from a commoditized compliance-only function to a sought-after and highly valued service that produces benefits to the clients who use that service and to the firms who provide that service.

innovation is the spark that gets you to a new state. it’s the a-ha moment that drives the action to change. innovation can lead to transformation, but only if done with the intention of transformation. it means being willing to try doing things differently and being willing to try doing different things.
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what multiples mean to accounting firms

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plus the appeal of rias.

by rory henry
the holistic guide to wealth management

why are accounting firms measured in revenue multiples while most other businesses are measured in ebitda multiples?

according to allan koltin, accounting industry transaction guru, there is no better reason than because that’s how we’ve always done it in the accounting profession.

more: tsunami of m&a, pe is disrupting the accounting profession | why cpas are best positioned to become financial advisors | how wealth management has evolved | introducing you to a fulfilling return on relationships | rory henry upends the traditional accounting firm | why now is the time for cpas to embrace wealth management
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“accounting firms have zero ebitda; they clear out the register every year,” noted koltin. “when i talk to firms about private equity, i have to walk them back and explain how you’re going to create your own ebitda. and the biggest piece of it is what we call the ‘scrape of partner compensation.’ you’re making $1.2 million. can you live on $800,000 if we move that extra $400,000 into an ebitda category and put a multiple of 7x to 11x on that and get capital gain?” asked koltin.

“partners 55 and older love it. partners who are 35 are not so sure.”
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