the staffer who was too smart

businessman writing on paperwhy i fired him.

by ed mendlowitz
call me before you do anything: the art of accounting

one time i got a client who was on the verge of going out of business and he asked if there was anything we could do to stop it from happening.

more: why a break-even analysis matters | becoming an expert in irs collections | high cpa fees should be a client’s goal | how hidden bias taints results | when to keep some plans to yourself
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after my usual tour of looking around, i sent in a staff person to get some numbers for me. i didn’t want the numbers in the financial statements, but the numbers that would show me how the business was really doing, what the trends were, how much business he did with his top five or 10 clients and vendors, the largest-selling items, his pricing methods, who his higher-paid employees were and maybe whether there was hidden value in the business. my staff guy was told what to do, that he had three days, and this was a very high priority.
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why a break-even analysis matters

business people laughing at lunch in a cafe outdoorsknowledgeable clients are better clients.

by ed mendlowitz
call me before you do anything: the art of accounting

one of the best tools to evaluate a business and get a quick handle on the knowledge of the owner or manager is the break-even analysis.

more: becoming an expert in irs collections | how i got a mercedes as a fee | hot shot sales manager is not such a hot shot | you must push the pencil | the art of the deal: starts with listening
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break-even analysis is a simple calculation that tells how much sales are needed to break even, and how much will be lost or earned when sales fall short of that amount or exceed it. a key part of this is to determine the “product lines” a business has and its direct cost structure.
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ask stupid questions early

group of businesspeople hiding their faces behind question mark signs at officelate queries give a poor impression.

by ed mendlowitz
call me before you do anything: the art of accounting

one time i was working for about a month at a client who was a stockbroker. throughout the office were signs that said p&s with arrows.

more: becoming an expert in irs collections | how i got a mercedes as a fee | hot shot sales manager is not such a hot shot | you must push the pencil | the art of the deal: starts with listening | working for a jerk | the ‘wrong’ cpe | be a sounding board to your clients | roger is my only client
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when i got started on the account, i did not pay much attention to the signs. instead i concentrated on learning what to do and then doing it. after a couple of weeks i looked at one of the signs and had no idea what it meant, never coming across anything referring to it.
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becoming an expert in irs collections

young businessman in office on phonethe takeaway? don’t say no to new types of business.

by ed mendlowitz
call me before you do anything: the art of accounting

after i received a mercedes as a fee to help a pair of businessmen resolve their tax withholding problems with the internal revenue service, i soon became an expert in irs collection matters.

more: how i got a mercedes as a fee | mendlowitz: how i owned a printing company and restaurant | am i happy? | my boss hated the client | fired from my first job | staffers need to speak up with clients | bored by cpe? you’re missing out! | clients buy solutions, not hours | roger is my only client
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after that job was completed, their attorney recommended a few other clients and i became quite active with collections. each time i got a new client, i took giant steps in learning how to handle these matters. i also got to know many irs revenue officers, at least one in almost every irs office in new york city, long island and new jersey. while i was learning, it seemed as if everything built on what i had previously learned, and i was becoming an expert in settling tax delinquencies.
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how i got a mercedes as a fee

car driving on road on pillars through swiss mountainsa true tale of the irs being helpful.

by ed mendlowitz
call me before you do anything: the art of accounting

at one point we had a client that was going out of business and they asked us to negotiate a final settlement with the irs in which the two partners could walk away broke but without being in debt to the irs for unpaid withholding taxes.

more: how i owned a printing company and restaurant | high cpa fees should be a client’s goal | how hidden bias taints results | when to keep some plans to yourself | employees have better memories than bosses | when writeups went extinct
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neither my two partners nor i had experience at that time in this.
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mendlowitz: how i owned a printing company and restaurant

hand watering small plant in pot shaped like upward arrowand 3 lessons i learned.

by ed mendlowitz
call me before you do anything: the art of accounting

my childhood dream had two parts. one was to have my own cpa practice and the other was to own a bunch of businesses.

more: high cpa fees should be a client’s goal | hot shot sales manager is not such a hot shot | you must push the pencil | the art of the deal: starts with listening | working for a jerk
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the cpa part worked out great. the businesses part did not.
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high cpa fees should be a client’s goal

businessman sitting on scales with stack of coins in other traythey don’t want their accountant doing as little as possible.

by ed mendlowitz
call me before you do anything: the art of accounting

one time i had three clients who were on the board of directors of the same nyse-listed company. two of them questioned every bill and every hour spent, and their fees were fairly low for people of that caliber. the third person did not seem to care what he paid, and his fees were quite high. let me call him jack.

more: hot shot sales manager is not such a hot shot | am i happy? | my boss hated the client | fired from my first job | staffers need to speak up with clients | bored by cpe? you’re missing out!
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jack also wanted to have lunch with me about twice a year. there was no special agenda. he just wanted to talk about how he could get richer and whether i could come up with anything that might help his company. we ate in the company’s private dining room – just him and me and three people waiting on us. the only thing i remember about the food was that at the beginning of the lunch we were served a wheel of brie cheese measuring 10 or 12 inches in diameter, and he proceeded to eat almost all of it.
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hot shot sales manager is not such a hot shot

businessman holding a printed red "down" arrowsometimes people reveal more than intended.

by ed mendlowitz
call me before you do anything: the art of accounting

a client decided that to grow her business she needed a top-tier sales manager and recruited someone from a much larger competitor.

more: am i happy? | how hidden bias taints results | when to keep some plans to yourself | employees have better memories than bosses | when writeups went extinct
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

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