survey: drake takes the cake in tax apps

businesswoman working on laptop giving thumbs up sign… overall. but it has some shortfalls.

by 卡塔尔世界杯常规比赛时间

the annual tax software survey of aicpa members was kind of special this year.

more tech: zoom tops microsoft teams for now | time to buy a new laptop? | office 365 users targeted in new phishing attack | accountants are losing the technology racewhat’s tops in laptops

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why? because the tax year itself was kind of – to put it nicely – special.

covid-19 and congress were the culprits, of course. in a desperate attempt to keep the national economy afloat, congress passed retro(ouch!)active tax relief – the american rescue plan act – as the busy season was well under way.
read more →

exclusive: eisner ceo charly weinstein explains the private equity deal 

is this the next paradigm shift for the profession?

by 卡塔尔世界杯常规比赛时间 research

eisneramper ceo charly weinstein calls the firm’s deal to take on private equity a new wrinkle in the profession’s decades-old struggle to secure fresh capital for expansion in an increasingly competitive marketplace.

more on private equity for cpa firms:

flash briefing webinar: a “call to arms” after eisner private equity deal, with dom esposito and anthony zecca

analysis by esposito and zecca: how outside capital can remake cpa firms

analysis by esposito and zecca: private equity the new source of growth capital for cpa firms?

eisneramper gets private equity backing

“embrace change. disruption is coming to the profession. be ready for it. build a platform that keeps you sustainable, relevant, and important,” he tells 卡塔尔世界杯常规比赛时间 in this exclusive video interview with editor rick telberg. read more →

flash briefing: a “call to arms” after private equity deal

eisneramper move augurs a new path forward for firms seeking capital for growth.

with dom esposito and anthony zecca

eisneramper’s deal to take on private equity and spin off its attest firm represents a new path forward for firms seeking capital to remain competitive in talent and in technology, according to dom esposito and anthony zecca, two veteran big-firm leaders, in this exclusive 卡塔尔世界杯常规比赛时间 flash briefing webinar.

download the slide deck here (pdf)

more on private equity for cpa firms:

exclusive: ceo charly weinstein explains the private equity deal

analysis by esposito and zecca: how outside capital can remake cpa firms

analysis by esposito and zecca: private equity the new source of growth capital for cpa firms?

eisneramper gets private equity backing

esposito is author of “8 steps to great: driving success at the world’s largest cpa firms and how to apply the lessons at firms of all sizes.” more by  dom esposito here.

zecca is the author of “leading from the edge – the new growth handbook with bonus toolkit.” more by anthony zecca here.

it’s “a call to arms,” says zecca. “whether you’re a $30-million firm or a $300-million firm, it doesn’t matter. you need to step back and say, okay, how is this going to affect me? how’s this going to affect how we get our clients? how is this going to affect how we’ve gotten our talent? and what do you need to do to change in this changing landscape?”

for esposito, “the takeaway is an understanding that you have options. and private equity is now an option that you should consider if you have the right mix of services and the right size.” read more →

dom esposito, ex-grant thornton ceo, dead at age 74

dom esposito: 1947-2021
dom esposito: 1947-2021

a long and distinguished career at the pinnacles of the cpa profession.

by 卡塔尔世界杯常规比赛时间

domenick j. esposito, the former ceo of grant thornton, vice-chair of bdo, and national growth director at cohnreznick, died sept. 22 at the age of 74, at his home in westport, conn.

the family said he passed peacefully in his sleep. survivors include wife dorothy savino esposito, daughter karen, and a granddaughter. funeral arrangements, details and tributes can be found here.

from comments: “a good friend and colleague who will be missed by many..”  “the kindest man i ever met…”   “made me a better accountant…”  “always a gentleman…”  “great competitor and friend…”  “truly one of the most brilliant in the profession…”   “a great visionary and leader…”

“dom was a pillar of the cpa profession he so loved, and his work lives on in the thousands of lives he touched in a long and distinguished career,” said rick telberg, ceo of 卡塔尔世界杯常规比赛时间, which published his “8 steps to great: the eight essential strategies driving success at the world’s largest cpa firms. and how to apply the lessons at firms of all sizes.”  see his articles for 卡塔尔世界杯常规比赛时间 here.

read more →

analysis: how outside capital can remake cpa firms

private capital to the rescue?: esposito and zecca

new next-gen private-equity structure holds the promise of new funding for expansion.

by dom esposito and anthony zecca

midsized to large cpa firms may be considering a private equity transaction as a growth and wealth creation vehicle, but there is much to be considered beforehand.

more on private equity for cpa firms:

exclusive:  ceo charly weinstein explains the private equity deal

flash briefing webinar: a “call to arms” after eisner private equity deal, with dom esposito and anthony zecca

analysis by esposito and zecca: private equity the new source of growth capital for cpa firms?

eisneramper gets private equity backing

esposito is author of “8 steps to great: driving success at the world’s largest cpa firms and how to apply the lessons at firms of all sizes.” more by  dom esposito here.

zecca is the author of “leading from the edge – the new growth handbook with bonus toolkit.” more by anthony zecca here.

here’s what cpa partners engaging in a private equity arrangement can expect.

read more →

analysis: is private equity the new source of growth capital for cpa firms?

eyes wide open: esposito and zecca

the details matter. go in with eyes wide open.

by dom esposito and anthony zecca

from time to time, we hear news in the profession about private equity transactions occurring within the ranks of midsized to larger cpa firms. just recently, eisneramper did such a transaction with towerbrook capital partners.

more on private equity for cpa firms:

exclusive:  ceo charly weinstein explains the private equity deal

flash briefing webinar: a “call to arms” after eisner private equity deal, with dom esposito and anthony zecca

analysis by esposito and zecca: how outside capital can remake cpa firms

eisneramper gets private equity backing

esposito is author of “8 steps to great: driving success at the world’s largest cpa firms and how to apply the lessons at firms of all sizes.” more by  dom esposito here.

zecca is the author of “leading from the edge – the new growth handbook with bonus toolkit.” more by anthony zecca here.

while at first glance, a private equity infusion could appear to be an effective growth and wealth creation vehicle for cpa firms, there are elements of structure, due diligence, and corporate governance to be considered.

read more →

eisneramper gets private equity backing

charly weinstein on cnbc talking about the private equity deal.

towerbrook capital partners’ infusion “reimagines the traditional accounting firm model.”

by 卡塔尔世界杯常规比赛时间

eisneramper llp – one of the profession’s top 20 firms with more than $420 in annual billings, 200 partners, and 1,200 employees – has sold about half the firm to towerbrook capital partners, a private equity fund with big investments in the financial services sector.

more on private equity for cpa firms:

flash briefing webinar: a “call to arms” after eisner private equity deal, with dom esposito and anthony zecca

analysis by esposito and zecca: how outside capital can remake cpa firms

analysis by esposito and zecca: private equity the new source of growth capital for cpa firms?

eisneramper gets private equity backing

as a result, eisner is splitting into two entities: the legacy eisneramper llp, a licensed cpa firm, to provide attest services, and the new pe-funded eisner advisory group llc, for business advisory and non-attest services. terms were not disclosed but towerbrook has a reputation for taking controlling interests in the companies it funds. audit and assurance account for about 49 percent of eisner’s pre-deal billings, with 42 percent from tax and 9 percent in consulting.

“it will be a positive disruptor in the profession,” according to charly weinstein, eisneramper ceo.  “rather than conforming to traditional frameworks, adopting a new model of ownership facilitates the best structure for the firm to drive growth and innovative solutions to our clients. our colleagues will be able to chart a course for success in our purpose-built practice structure.”

read more →

accountants to small biz: ‘be nimble, be quick, be careful’

accountants in 卡塔尔世界杯常规比赛时间 / avalara study say small business faces massive, rapid changes.

the most important and extensive impact: “keeping up with changes in online technology, noted by 52% of accountants. another 35% say online tech will be moderately important. only 12% say it will be of little or no impact.(source: 卡塔尔世界杯常规比赛时间 / avalara business confidence study)

by 卡塔尔世界杯常规比赛时间 research

when the 2021 卡塔尔世界杯常规比赛时间 business barometer asked for advice for small businesses in the brave, new post-covid-19 world, no one said, “don’t worry, be happy, sit back and relax.”

more: covid relief measures swamp tax pros | pop quiz: can you find $330,000 for your clients?automation without accountantssurvey: your favorite desktop pc | remote work is here to stay

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rather, they advise flexibility, adaptability, and care with cash management. accountants in the study sponsored by avalara are offering plenty of plain-spoken advice, and they’re not mincing words. read more →

tech: accountants are losing the race

infographic
all images: zapier data

what do other businesses know that we’re ignoring?

by 卡塔尔世界杯常规比赛时间

among the many wonderful things covid-19 bestowed on american business, new business models probably rank first. those who figured out how to adapt found themselves competitive. those who didn’t now drive for uber.

more: automation without accountants
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the accounting industry was among the quick adapters.

though quick to adapt to a modified office structure, cpa shops have been slow to adopt automation. other small and medium-sized businesses (smbs) have proven far quicker.

read more →

cybersecurity for tax professionals

welch

checklist: the 24 steps to prevent and, if necessary, respond to breaches.

by amy welch

last year, there were nearly 90,000 reports of tax identity theft, according to the federal trade commission.

in fact, in june, an irs agent admitted to stealing someone’s identity. law360.com reported special agent bryan cho, 49, pled guilty to aggravated identity theft and wire fraud in a brooklyn district court. it appears anyone can be a criminal!

join donny shimamoto, cpa, citp, cgma, for “hybrid work: holistic approach to customer, employee & cybersecurity risks,” aug. 26, 3:30 pm et. register here | learn more

it’s also important to note that protecting taxpayer data is the law. according to the ftc safeguards rule, “tax return preparers must create and enact security plans to protect client data. failure to do so may result in an ftc investigation.” additionally, any “failures that lead to an unauthorized disclosure may subject you to penalties under sections 7216 and/or 6713 of the internal revenue code. read more →

automation without accountants

top use case: 43% of accountants use automation to import hours into payroll.

more than half the work world is embracing automation. why not accountants?

why accountants won’t automate:
join the survey. get the results.

by 卡塔尔世界杯常规比赛时间 research

for all the talk of automation among tax and accounting practitioners, they are still falling behind, even as other professions race ahead.

more in tech: microsoft puts the full windows experience in the cloud | survey: how old is your desktop pc? | microsoft acquires cybersecurity firm riskiq | survey: your favorite desktop pc | global fintech funding gains momentum | salt: the small business disaster waiting to happen

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more than half the work world is embracing automation.

among accountants: it’s less than half, according to a broad new study.
read more →

eisneramper takes on private-equity investor, spins out attest firm

charly weinstein on cnbc talking about the private equity deal.

towerbrook capital partners’ infusion “reimagines the traditional accounting firm model.”

by 卡塔尔世界杯常规比赛时间

eisneramper llp – one of the profession’s top 20 firms with more than $420 in annual billings, 200 partners, and 1,200 employees – has sold about half the firm to towerbrook capital partners, a private equity fund with big investments in the financial services sector.

as a result, eisner is splitting into two entities: the legacy eisneramper llp, a licensed cpa firm, to provide attest services, and the new pe-funded eisner advisory group llc, for business advisory and non-attest services. terms were not disclosed but towerbrook has a reputation for taking controlling interests in the companies it funds. audit and assurance account for about 49 percent of eisner’s pre-deal billings, with 42 percent from tax and 9 percent in consulting.

“it will be a positive disruptor in the profession,” according to charly weinstein, eisneramper ceo.  “rather than conforming to traditional frameworks, adopting a new model of ownership facilitates the best structure for the firm to drive growth and innovative solutions to our clients. our colleagues will be able to chart a course for success in our purpose-built practice structure.”

read more →