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how private equity is impacting accounting

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and how these deals compare to traditional cpa firm deals.

by marc rosenberg
the rosenberg practice management library

one of the biggest game changers in the cpa profession since the dawn of the 21st century has been the introduction of private equity in merger transactions.

more by marc rosenberg
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prior to roughly 2020, 99 percent of all cpa firm mergers were between two cpa firms. an early exception was the “consolidator” phase of the cpa industry from the mid-1990s through the early 2000s. this is when three companies, the consolidators – american express, h&r block and cbiz – acquired a few hundred cpa firms, spawning the creation of alternative practice structures. because cpa firms must be majority owned by cpas, this new structure featured the attest function spun off as a separate but related entity, owned primarily by cpas while the remainder of the firm was owned primarily by the consolidators.
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tax pros gear up for a better busy season

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survey respondents say the new year means new plans.

by 卡塔尔世界杯常规比赛时间 research

it’s shaping up to be a pretty good year, according to early results from the 2025 busy season barometer. half expect a year better than last year’s good year, and less than 10 percent think it will be worse.

more: irs funding pays eye-popping 415x roi | tax season 2025 begins. ready or not. | 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 | cornerstone report
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why?

  • the market’s in a good place. plenty of clients out there.
  • so far (fingers crossed) no big changes to the tax code.
  • no pandemic quarantines (more fingers crossed).
  • the economy’s chugging right along (keep them crossed).

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irs processing up; payouts down

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data table

figures for 2024 topped those of 2023 until it came to refunds.

by beth bellor

as the 2025 busy season kicks off and we wait for the first individual income tax return reports to trickle in, let’s take a peek at how the last drips of 2024 compared to the dregs of 2023.

more: tax pros are making changes for a better busy season | irs funding pays eye-popping 415x roi | tax season 2025 begins. ready or not. | every tax reviewer should be able to answer these ten questions | art werner: corporate transparency act and fincen reporting | 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 | 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
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

by the end of 2024, the internal revenue service had received 163.5 million returns, up 0.9 percent from the end of 2023. it had processed 163.5 million returns, up 0.3 percent, which included returns received in the prior or current year and processed in the calendar year.
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how to structure agreements for value pricing

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latina woman working on laptop

plus how to automate getting paid.

by jody padar
radical pricing – by the radical cpa

a well-structured agreement can make or break an engagement. we see this happen every day.

were you a fan of the television show “two and a half men”? remember when charlie sheen was fired? he ended up suing for what he thought he was owed for the remainder of his contract. and, surprisingly, there was not a comprehensive agreement detailing the terms. no one likely thought sheen would end his run on the show in this manner and didn’t plan for it.

more by jody padar
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a similar scenario could happen to you, albeit with fewer global headlines i suppose. that’s why, once your client is ready to start working with you on a value basis, you’ll need to create a contract to finalize the deal.

there are two main agreements used by accountants today – the engagement letter and the service-level agreement. both are legally binding but look a bit different.
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help tax clients help you

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eleven steps to better instructions.

by ed mendlowitz
tax season opportunity guide

providing instructions of what a client needs to do must be clear enough so that the client doesn’t call you to find out what to do.

more: is your team ready for tax season? | six methods for getting paid faster this tax season
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

sometimes taking an extra minute to lay out what the client should do can eliminate that call or indecisive moment a client might feel.
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four challenges of managing new tax preparers

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… and three tips to make it easier.

by frank stitely
the relentless cpa

how do you train up newly hired tax preparers?

hint: don’t start with taxes.

more by frank stitely
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having standardized processes is key. teaching processes is much easier than teaching tax return preparation. learning your processes teaches tax return preparation if your processes are well defined. much of tax preparation is data entry-oriented. then you teach the variations.
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roger knecht: can you be an accountrepreneur? | the disruptors

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you don’t need all the answers, but you do need to ask the right questions.

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

about ten years ago, roger knecht, president of universal accounting, noticed that while accountants wanted to move into the advisory space, few had any idea how to make that transition. so he talked to business owners about what they’d like to see and developed a curriculum to help accountants develop those skills. “it’s game-changing,” knecht says, “because once you have the confidence as well as the competence to deliver cfo and advisory services, the world is your oyster bed.”

more podcasts and videos: beth whitworth: focus on outcomes not hours | 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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as more accountants and bookkeepers move beyond compliance work into tax advising and planning, cash flow management, and cfo services, they can do work that knecht says is more fun and creative. “i think it moves the needle for our clients a lot more when we’re able to give them those insights and perspectives to run their businesses more profitably,” knecht says.

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six questions to ask before innovating

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man with hand on chin, looking at computer screen

hint: jumping in with technology is not the solution.

by alan anderson, cpa
transforming audit for the future

“if i had an hour to solve a problem, i’d spend 55 minutes thinking about the problem and five minutes thinking about solutions.” – albert einstein

innovation means doing things differently and doing different things. but what does that mean in practice?

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

 

i see audit firms around the country who set up “innovation teams,” or appoint someone to be the chief of innovation. the problem is that if these are home-grown teams, or if no one on the team has ever had any experience working with anything other than a traditional audit firm, at best, their efforts will be like moving around deck chairs. many of these chiefs of innovation don’t have an innovative bone in their bodies, and they don’t know what they don’t know. all they know is the old way of doing things.
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