fee structure

seven world-tested strategies for coping with fee pressures

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global accountants’ association warns profit squeeze may “the new normal.”

in the face of profit problems for accounting practices worldwide, the international federation of accountants, which represents the world’s national accountancy institutes, is warning the global profession that fee pressures may be “the new normal.”

with many clients around the world “faced with subdued demand” for their products and services, “it’s not surprising to find small- and medium-sized practices facing demands to negotiate fees or cut prices.”

related: fee pressures emerge as worldwide problem

with that in mind, ifac suggests seven strategies: read more →

accountants chop prices for schedule c’s

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but most other rates are increasing.

in another sign that the profession is pushing through at least some price increases in a highly fee-pressured environment, a new survey reports that professional tax preparers this year will be charging an average of $246, up 6%, for a typical 1040 with a schedule a and a state return. still, the survey finds price pressure for schedule c’s.

the survey shows pricing for the bread-and-butter forms delivered by local independent tax professionals, including:

  • form 1040 schedule c (business)
  • form 1065 (partnership)
  • form 1120 (corporation)
  • form 1120s (s corporation)
  • form 1041 (fiduciary)
  • form 990 (tax exempt)
  • form 940 (federal unemployment)
  • schedule d (gains and losses)
  • schedule e (rental), and
  • schedule f (farm)

the survey also breaks down pricing patterns by region, and adds data on client payment options.

read more →

why value billing won’t transform your life

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what do cpas have in common with french fry cooks? maybe more than you think.

by frank stitely, cpa
stitely and karstetter 

a french fry professional, who was employed by a national franchise with a creepy clown for a mascot, wondered how he could make more than his current $7.25 per hour.  so he attended a value billing seminar.  when he returned, he opened an excel spreadsheet and calculated his worth to his employer.

more about pricing and billing:  the problem with timesheets? not enough timesheets!   |   the problem with frank stitely? we need more frank stitelys!  |   who’s missing in action from your workflow processing system?  | how to make an extra $72,000 by working smarter  |  seven ways to increase fees in 2013  | the big issue for 2013: fee pressure   |   five ideas to reduce client price-sensitivity  |

he determined that he was personally responsible for the frying of 1,126,438 french fries in a year.  while he earned only $15,000 in a year, his employer sold his output for $30,000.  using what he learned in the seminar, he scheduled a meeting with his boss to ask for a raise, because he wasn’t making what he was worth. read more →

the problem with frank stitely? we need more frank stitelys!

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in response to “the problem with timesheets? not enough timesheets!“ more comments here.

by greg kyte
www.gregkyte.com / @gregkyte

frank stitely’s 卡塔尔世界杯常规比赛时间 article “the problem with timesheets? not enough timesheets,” a courageous response to what he refers to as “the value billing taliban,” was flawless from start to finish.

to start with, since most timesheet detractors are required to grow a beard, are pissed that women can read, and have up to three wives, comparing them to the taliban was spot on, and was in no way incendiary or belligerent.

with insights like frank stitely’s, we can all come closer to winning the race to the bottom.

next, he made a great call telling everyone to stop reading his article except firm owners and future firm owners. only firm owners can understand how to run a firm in the same way that only highly successful nfl players can ever be great nfl coaches. take vince lombardi. he never played pro football, and now people are like, “vince who?” read more →