today's features

beth whitworth: focus on outcomes not hours | the disruptors

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: applegoogle/youtubespotifyiheartdeezer, amazon music, audibleplayer fmaudacy, 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 nosalim 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 relationshipsmike maksymiw: be the leader you wish you hadterrell turner: build a solid business showing up as yourselfkelly mann: be the bull in the china shopalicia katz pollock: create a human-centric businessnancy 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 |

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

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!”

read more →

ask tax clients the right questions

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

 

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.
read more →

taxpayer advocate sees big improvements at irs

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

 

collins has good reason for her praise:
read more →

the shift to advisory from a firm perspective

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

 

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.

read more →

the risks of not innovating in audit

hand below light bulb

technology is moving quickly. are you keeping up?

by alan anderson, cpa
transforming audit for the future

auditors, like most accountants, tend to be conservative in nature. we tend to be reluctant to change unless we’re on a burning platform.

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

 

as i’ve said before, audit is at a crossroads. we can continue the way we’ve been doing audit and will likely go extinct. or we can make changes that will keep audit relevant and valuable for the next generations.
read more →

ten types of tax clients to avoid | listicle

//www.g005e.com/category/checklist/listicle/by 卡塔尔世界杯常规比赛时间 research

every tax season, tax preparers are looking for new clients, and taxpayers are looking for tax preparers. it’s tempting to take on everybody who expresses interest. and it’s tempting to hold on to the troublemakers of last year. but some are too complicated, or too risky, to deal with.

more listicles here

here are 10 types of clients best avoided even if it means culling your current client list.

1. the chronically late: clients who are consistently late with documents and information complicate your busy season and often extend it by weeks or months. when clients end up penalized, their tax preparer looks bad.

2. non-compliant clients: individuals or businesses who dodge tax laws, hide income, manipulate deductions or outright lie can jeopardize a cpa’s reputation and lead to the costs and complications of legal liability.

3. unrealistic expectations: clients who demand unreasonably low tax liabilities or refunds without legal grounds may create conflicts and ethical dilemmas. and they’re going to tell others that you didn’t serve them well.

4. clients with frequent auditor flags: taxpayers who engage in high-risk activities (e.g., excessive charitable deductions, business losses year after year) may invite irs audits. the irs might question the ethics of the preparer, too.

5. aggressive fee negotiators: clients who argue over fees or expect reduced rates belittle a tax professional’s expertise and cheapen the preparer’s reputation.

6. disorganized record-keepers: clients who provide incomplete or disorganized records can waste your time and cause you to make errors that you may be held accountable for.

7. non-payers: let somebody else have clients who consistently fail to pay or argue over every invoice. it costs less to cut them loose than to take them to court.

8. overly litigious clients: individuals or businesses prone to solving problems through legal action can pose significant professional and financial risks. the cpa might get sued, and even if not, suits against others may require cpa testimony or other participation.

9. high-risk industry clients: some industries, like cannabis or cryptocurrency trading, come with regulatory uncertainty and heightened scrutiny. they may also require a lot of research on the accountant’s part, not to mention extra legal protections.

10. emotionally draining clients: taxpayers who consistently vent, complain or act unprofessionally can cause stress and burnout for the cpa. unless you’re comfortable billing them for the time they’re in your ear, best let them find solace elsewhere.

the trick, of course, is to identify these clients before you take them on. one thing to ask them is who their former accountant was and how well they got along. and if you think a potential client might be one of the above, you’d best just ask them about it.

steve yoss: boost security with mfa | quick tech talks

your data has probably already been exposed.

subscribe to 卡塔尔世界杯常规比赛时间 podcasts anywhere: applegoogle/youtubespotifyiheartdeezer, amazon music, audibleplayer fmaudacy, rss.

quick tech talk
with steve yoss
cpe today

data breaches have become an unfortunate reality in the digital age, and with them, the risk to personal and financial information continues to grow. however, there is a simple yet powerful way to protect your accounts: multi-factor authentication (mfa).

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

mfa, sometimes referred to as one-time passwords, has become a cornerstone of modern cybersecurity. think about this hard truth: your data, unfortunately, has probably been exposed by either a website, a web service, or maybe even your favorite merchant at some point in the last 10 to 15 years. when passwords are stolen in data breaches, cybercriminals often use them to access accounts on other sites, exploiting the common habit of password reuse.

read more →

toward a 21st-century cpa: a dynamic vision

portrait of susan bryant
bryant
susan bryant is a certified public accountant and certified tax strategist. she has earned widespread recognition, including honors as a woman of empowerment, enterprising woman of the year, and being named among the top 50 women in accounting.

seven areas of focus for every firm.

by susan bryant
the holistic guide to wealth management

as the old saying goes: “everyone wants an accountant; no one wants to be an accountant.” whether that saying is true or not, the future of our profession hinges upon casting a new vision.

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

 

accounting has been many things over the years, but “exciting” is not an adjective you hear often to describe it. reliable. dependable. necessary. sure, but rarely exciting.

however, we live in fast-moving and volatile times. everything is changing rapidly. the aftermath of the pandemic, and the seismic shifts it caused in the global and local economies, have upended nearly every aspect of business. sector after sector is scrambling to adapt to our fast-changing world. it’s a world in which the stock market is volatile; inflation is high; war, recession and weather events loom; and millions of boomers are exiting the work force and surging into retirement. with the world changing so fast, every aspect of business services needs to change with it, including accounting.
read more →

deals 2024: over 100 cpa firm mergers and acquisitions

howard

buckle up for 2025.

by 卡塔尔世界杯常规比赛时间 research

curious about the deals that went down in 2024 and how they might inform your next move? marc howard is, too. so, he compiled a comprehensive list.

howard is a serial entrepreneur in the accounting space, host of the pitch your firm podcast, founder of firmlever, founder of taxplow, co-founder of bizpayo, and creator of tax advisor gpt.

howard found upwards of 115 deals in 2024, ranging from the first deal of the year, ata cpas’ takeover of  whitehorn tankersley & davis on jan. 3, to the last, platform accounting group’s roll-ups of midwest advisors and crossroads advisors on dec. 23.

some of the most active buyers on his list include cbiz, which counted marcum among its three deals; citrin cooperman, with eight deals; cla, crowe, and doeren, each with three; and eisner, with four deals.

he predicts an even busier 2025 for the profession.

read more →

major changes to circular 230: implications for tax professionals | cornerstone report

this cornerstone report analyzes the key differences between the current and proposed rules, focusing on the implications for professional tax practitioners, especially cpas and enrolled agents.

by 卡塔尔世界杯常规比赛时间 research

the u.s. treasury department and internal revenue service have proposed significant updates to circular 230, which governs practice before the irs.

more cornerstone reports: gen ai in accounting: epic transformation, or overheated hype?jobs outlook: strong and steady growth in hiring and earnings for u.s. accountantsexplaining the talent shortage in one big chartbattling the staffing crisis: is a little-known, but controversial, visa program the answer?salary and compensation outlook for small cpa firms 2025 | a brief history of the us income tax, the internal revenue service, and the tax, accounting and cpa profession | 卡塔尔世界杯常规比赛时间 almanac: key data points for the tax, accounting and finance profession

they couldn’t have chosen a worse time to release the proposal – the day after christmas, dec. 26, just before tax season 2025.

comments are due feb. 24, with a public hearing on march 6. only the irs, it seems, would be surprised if you’re too busy to attend.

read more →

make sure your firm understands the value of cas

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

 

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.”
read more →

jason blumer: serving your team is the ultimate leadership strategy | gear up for growth

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

click to subscribe anywhere: applegoogle/youtubespotifyiheartdeezer, amazon music and audibleplayer fmaudacygaana (india)boomplay (africa), or rss.

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.” 

read more →

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

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

 

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.
read more →