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profile of a modern firm: putting the vision into practice

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maksymiw
 michael maksymiw, cpa cgma msa, is executive director, aprio firm alliance at aprio. he connects growing firms with resources to advance client relationships and provides access to subject matter experts in specialties that fall outside a firm’s wheelhouse. he holds a master of science in accounting from university of connecticut.

three ways an integrated model helps attract talent.

by michael maksymiw, cpa cgma msa
the holistic guide to wealth management

a successful future firm has an abundance mindset and an adaptable leadership style. the abundance mindset is based on the belief that there is enough work for everyone. that means the firm can focus on what it wants to – it can pick its niche. and the firm will utilize its network of other firms who think similarly to completely service the client.

more: toward a 21st-century cpa: a dynamic vision | what multiples mean to accounting firms | 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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a generalist who tries to do everything for a client is the old model. a specialist who finds other specialists to ensure the client has the best team around them for their success is the model of the future.
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tell clients the cost of saying no to cas

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it’s an upgrade pitch, so they have to see the value.

by hitendra patil
client accounting services: the definitive success guide

when you pitch client accounting services to your existing clients and new prospects, your communication and messaging changes quite a lot. it is no more packages, hourly rates and standard deliverables mentioned on your website, in your emails, engagement letters and sales brochures/materials.

more by hitendra patil
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cas is not a sales pitch to your existing clients. it is a value pitch, an upgrade pitch.

you need to show them, measurably, what they are currently spending to get the end-to-end accounting done, including overhead, review and management cost, the opportunity cost of losing core business focus while attending to the accounting processes, etc. then compare that with the total cost of your cas offering. ensure to explain the distinct cas advantages that you will deliver when you do their work with professional accounting processes and experience.
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jennifer harrity: esg unlocks opportunities | gear up for growth

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uncover how regulations, investor demands, and market expectations are driving organizations to embrace sustainable practices.

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

in a world where sustainability is increasingly critical, environmental, social, and governance (esg) has emerged as a vital component of the accounting profession—described as the “fourth leg” of the accounting stool, alongside tax, audit, and consulting. esg integrates sustainability metrics with financial data, offering a holistic view of an organization’s health and strategic opportunities.

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

“esg is about measuring and quantifying sustainability-related data and aligning it with financial metrics,” explains jennifer harrity, esg and sustainability director for sensiba. “this approach not only provides a clearer picture of an organization’s health but also identifies strategic opportunities for growth.”

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tax season 2025 begins. ready or not.

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bar chart
ready or not? more than four in ten accountants are expecting a better tax season this year than last year, with only one in six dreading worse. join the survey. get the results.

most pros will hit the ground running.

by 卡塔尔世界杯常规比赛时间 research

join the survey. get the results.

ready or not, here it comes: the marathon of the tax season. the w-2s are in the mail, the k-1s shouldn’t be far behind, and the 1099s are being filed.

more: every tax reviewer should be able to answer these ten questions | art werner: corporate transparency act and fincen reporting | quick tax tip | taxpayer advocate sees big improvements at irs | ask tax clients the right questions | major changes to circular 230: implications for tax professionals
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so far, most of america’s cpas and tax preparers are ready for the tax season and reasonably optimistic about this year’s revenues.

according to early results to the 卡塔尔世界杯常规比赛时间 busy season barometer, 44 percent of respondents are better prepared than they were last year, and almost as many are in about the same position as last year. only 14 percent say they’re less ready than last year, with a mere 3 percent much less ready. fifteen percent are “much better” prepared.

but that was before a trump-ordered government-wide hiring freeze and new threats of over $20 billion in budget cuts.

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costs matter

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illustration of estimating costs

the three stacks you need to consider.

by jody padar
radical pricing – by the radical cpa

true story. i once knew the cfo at a local mental health nonprofit agency. she had been manager of the accounting department at a large manufacturer but now considered herself semi-retired. she had recently moved into a new condominium and was overwhelmed by the renovation needs.

more by jody padar
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she was competent but had a lot going on. as a result, she wasn’t paying attention as the nonprofit agency began to experience cash flow problems. the management team resolved to start booking more psychiatric services because they could bill medicaid the most for those types of services. sure enough, the organization’s gross sales increased substantially. unfortunately, no one had paid attention to the cost of delivering these services.
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bissett bullet: a desire to serve

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today’s bissett bullet: “become known for having an altruistic attitude. demonstrate your desire to serve first and worry about your remuneration second.”

by martin bissett

when you approach a prospective client, come to a conceptual agreement first and foremost. determine how you could work together in a way that makes sure that the business has a better experience working with your firm than they would with the firm that they currently work with.

today’s to-do:

in your next meeting with a prospective client, make a conscious effort to demonstrate your desire to help them achieve what they’ve set out to, both professionally and personally, before you discuss fees.

see more bissett bullets here

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top 10 red flags to watch for in accounting offices | arc

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outdated technology, unrealistic billable hours, and “unlimited pto” among key issues discussed. 

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accounting arc
with liz mason, byron patrick, and donny shimamoto.
center for accounting transformation

the accounting profession is undergoing significant change, and workplace culture is at the forefront of that transformation. in a recent episode of accounting arc, industry leaders donny shimamoto, cpa.citp, cgma; byron patrick, cpa.citp, cgma; and liz mason, cpa, explore the red flags professionals should watch for in accounting firms. 

more arc: analysis, reaction, comedy

 

more accounting arc: jeremy dubow: private equity as a catalyst for growth | break 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 | rachel bashore: a lawyer’s case for reinventing accounting | beyond the basics in ethics eduction | bailey lenart: from ledger sheets to transformational change | election tax plans: what cpas need to know |

“a firm that isn’t leveraging modern technology is a huge warning sign,” says mason, ceo of high rock accounting. she and the other panelists agreed that firms clinging to outdated systems often fail to create efficient work environments. “automated hr processes should be a baseline by now,” adds shimamoto, founder and managing director of intraprisetechknowlogies llc and founder and inspiration architect for the center for accounting transformation. 

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show us the money! accountants are making more

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young woman holding giant dollar sign in modern office

want to retain employees? here’s one way.

by beth bellor

more money. that’s what the latest data show for the accounting profession.

the final jobs report of 2024 saw the accounting profession’s numbers slip a bit, but the bodies in those seats were pulling down record earnings. employees in the profession overall, at cpa firms and non-staff in payroll services saw their highest hourly wages ever.

more: survey says 57% of firms are raising prices next year | how accounting firms are handling the staff shortage | more big firms shut their doors to new college grads | seven enticements to keep talent on board | despite staffing crunch, firms freeze pay raises
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and about time! we heard the call for better compensation in the most recent rosenberg national survey of cpa firm statistics.
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every tax reviewer should be able to answer these ten questions

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man wearing glasses holds papers in right hand and looks at laptop screen against a backdrop of windows
yes, we included the answers … just in case.

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: taxpayer advocate sees big improvements at irs | ask tax clients the right questions | major changes to circular 230: implications for tax professionals | cornerstone report | art werner: due diligence and irs enforcement | quick tax tip | make ‘done but’ tax returns a thing of the past | six methods for getting paid faster this tax season | use humor to get tax documents in early | art werner: busy season predictions | four steps could close the tax gap | art werner: how to turn tax prep into tax advisory | art werner: navigating business structure decisions amid tax law changes | tax season memo from staff to managing partner | is the irs adequately tracking corporate tax evasion? | irs still unsure how to measure audit rate
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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beth whitworth: focus on outcomes not hours | the disruptors

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stop wearing your hours worked as a badge of honor.

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

a few months ago, beth whitworth emailed her remaining legacy 1040 clients, informing them that they would have to move over to the subscription-based model she’s been implementing over the last few years. “i will say it’s scary,” she says. “and when i pushed the button and then sent the email, i was like, ‘oh, what’d i do?” but she quickly realized that she was doing the right thing. “this is where we need to move to.”

more podcasts and videos: mike sylvester: learn to say no | 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 |

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instead of continuing to accommodate the clients who were resistant to using technology, who wanted to continue dropping off documents, and who no longer fit her business model, she decided that “it would be okay if none of them stayed.” while she did get some pushback for the increase in fees that would accompany a higher level of service, she did get some who happily responded, “sign me up!”

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ask tax clients the right questions

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hourglass on paper charts

don’t let them dictate your workflow.

by frank stitely
the relentless cpa

who makes the errors in your firm? staff obviously, but that’s half of the answer. clients are a major source of tax return errors. clients cause errors in three ways:

  1. errors of omission
  2. errors of commission
  3. errors in attitude

more by frank stitely
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every tax season, we finalize and deliver returns only to hear from the client, “i think i might have forgotten to tell you that we had a baby last year.” does this happen to you? this is a client error of omission. unintentionally, clients withhold important information.
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taxpayer advocate sees big improvements at irs

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data table

but still “far from perfect.”

by 卡塔尔世界杯常规比赛时间 research

for the first time ever, erin m. collins, america’s resolute national taxpayer advocate, has opened her annual report to congress with good news.

“the taxpayer experience,” she writes, “has noticeably improved.”

more: ask tax clients the right questions | major changes to circular 230: implications for tax professionals | cornerstone report | art werner: due diligence and irs enforcement | quick tax tip | make ‘done but’ tax returns a thing of the past | six methods for getting paid faster this tax season | use humor to get tax documents in early | art werner: busy season predictions | four steps could close the tax gap | art werner: how to turn tax prep into tax advisory | art werner: navigating business structure decisions amid tax law changes | tax season memo from staff to managing partner | is the irs adequately tracking corporate tax evasion? | irs still unsure how to measure audit rate
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collins has good reason for her praise:
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the shift to advisory from a firm perspective

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man and woman high-fiving each other in office

it might take longer than you expect, but it’s so worthwhile.

by frank stitely
the relentless cpa

articles about shifting to advisory are mostly written by consultants. they are smart, well-meaning people. they have lots of advice, some good, some bad, but it’s like hiring a vegan chef to grill your steak. they aren’t living with the consequences.

more from frank stitely
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my firm made the shift and learned a lot of lessons from grilling our own steak. we mostly survived with just a mild case of food poisoning.

let’s kindly ask our vegan chefs to leave the room and just speak firm to firm. let’s wait a second longer to make certain they’re off grilling tofu.

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