tax

great tax prep reviewers aren’t just born

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htrtr cvr clipfive traits of the best tax season managers.

by ed mendlowitz
how to review tax returns

reviewing tax returns is a key part of tax preparation. it also is an area vulnerable to major bottlenecks and backlogs. inevitably, firms have more preparers than reviewers. the latter are highly skilled professionals who are more difficult to train or find. therefore, you must consider ways to reduce review time, even at the expense of adding preparer time.

the best tax season managers know how to: read more →

6 ways to take a client beyond tax prep

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ed mendlowitz cpa the practice doctor q and aset an agenda; call a meeting.

by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor

question: i have many small business tax clients and seem to lose them as they grow. i provide good service, never have extensions and call the clients in july to see if i can update their books and in december if they want any year-end tax planning. what else can i do?

response: based on our conversation, you are their tax preparer and they do not think of you as their “accountant” or business advisor. and based on what you told me, you aren’t, although you obviously have the skills. read more →

as block and liberty add accounting services, independents face 3 options

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libert-block-logos-170x145when 卡塔尔世界杯常规比赛时间 published its analysis, “threat or opportunity as h&r block, liberty jump into bookkeeping services,” by hitendra patil of pransform, it ignited a small firestorm of responses from readers and a reality check for the profession.

related: new strategic ally, or competitive threat?

two distinct groups of voices seem to be emerging with three basic options for independent accounting firms, according to patil who has been studying the profession’s reactions. read more →

readers sound off on liberty, h&r block plans to launch bookkeeping services

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liberty block logosnew strategic ally, or competitive threat?

practitioners are actively debating the effects and impact of h&r block and liberty jumping into the bookkeeping business, as detailed by 卡塔尔世界杯常规比赛时间’ hitendra patil here.

“this is an opportunity to highlight quality,” says wesley middleton, head partner at middleton raines in houston. “the only person who has something to worry about are those that are only focused on price.”

not all practitioners agree in the discussion which began at 卡塔尔世界杯常规比赛时间 and has spilled onto the 20,000-member 卡塔尔世界杯常规比赛时间 linkedin group. read more →

threat or opportunity as h&r block, liberty jump into bookkeeping services?

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liberty block logoswhat it means for independent tax and accounting firms.

by hitendra patil
pransform inc. 

the accounting profession in the u.s. has been shaken up by announcements from liberty tax services and h&r block that they are entering into core bookkeeping and accounting services business.

more on the entrepreneur accountant:  six steps for a better tax season   •  8 seconds into the future: meet generation z   •   5 reasons gen y will make or break your firm   •   3 ways amazon’s new fire phone hints at the future of accounting   •   the 8 traits creating the firm of the future today   •   get more done, make more money: stop doing these 17 things   •   what shopping habits reveal about accounting clients   •   create your “not-to-do’s” list   •   irs bitcoin rule: 5 things accountants need to know   •   tax season tips: train your brain to focus   •   what the bitcoin phenomenon means for accountants   •   overcoming your clients’ worst fears   •   5 tech tips for reigniting growth   •   a case study in using linkedin   •   accountants and six fundamental human needs   •   client satisfaction starts with ‘likeability’   •   why accounting? your clients want to know   •   what’s next: predictive accounting

the news came as a surprise to many and i had a few discussions with some accounting professionals, especially smaller firms and some solo practitioners, on what they think of this new development. read more →