edward mendlowitz, author at 卡塔尔世界杯常规比赛时间 - page 5 of 54

what’s your value to your tax clients?

three questions to ask.

by ed mendlowitz
tax season opportunity guide

know your value to your clients. better, understand your business and what you really do and what you add to the client’s life.

more on tax season: are you excited about tax season?
exclusively for pro members. log in here or 2022世界杯足球排名 today.

i had a group of gastroenterologists as clients who were going to get into a business of inserting a gastric bubble into people’s stomachs. there were a number of issues to this.
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pro member exclusive

empower staff to make mistakes (safely)

think of it as teaching judgment.

by ed mendlowitz
202 questions and answers: managing an accounting practice

question: recently a colleague asked me: “how do you teach judgment?” and before i could respond, he answered it himself with “you can’t teach judgment!”

more: 47 types of business valuation to provide | referral fee? forget it | how much is your tax practice worth? | merge in lower-priced work without losing out
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response: everyone working for you has and uses judgment – they have homes, families, organizations they belong to and they manage their career. each of these requires their exercising judgment many times a day. they all have judgment.
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pro member exclusive

are you excited about tax season?

if not, take time to determine why.

by ed mendlowitz
tax season opportunity guide

successful people are happy with their practices and what they do and get joy from interacting and helping clients. i know a lot of accountants who continuously complain about tax season – yet they make most of their money during the period.

more: nine tax season resources that get forgotten | eight ways to charm a client | you’re only as good as your last screw-up
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do they expect someone to knock on their door with a wheelbarrow of money to hand them? if they are financially secure, why do they keep working? if they are not, then, duh! either do it or find something else, but stop complaining. better yet, look at all the benefits from what you do (if you need me to tell you the benefits then find something else to do).
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client service opportunities

47 types of business valuation to provide

there are great money-making opportunities, but don’t overlook the difficulties in getting started.

by ed mendlowitz
202 questions and answers: managing an accounting practice

question: i am exploring the business valuation credential as a way to expand our practice. i’m still (relatively) young to the profession and would (i think) love to expand into this niche area.

a few things:

more: referral fee? forget it | should you offer financial services? | ready to retire? selling your practice is no strategy | 20 things you need for a business valuation
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1) we don’t do any bv now so my ability to acquire the abv credential would be difficult w/o the experience aspect.
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marketing & sales

nine ways to use the 1/20th tax client marketing rule

elevate your service beyond tax prep.

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

what would happen if you set goals at a higher level?

the following is restricted to tax return clients only, and can be exceeded by you if you think this goal is too low.

more on marketing: fifteen services a salesperson can sell | twelve ways to establish your brand | want more tax clients? here’s how | seven keys to a complete succession plan | the tax effects of buying or selling a business | elder care: not sexy, but vital | how to guide clients through divorce | help clients manage their investments
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1/20^th rule: to receive additional revenues, target meetings with 1/20^th of your eligible tax preparation clients a year. this is an opportunity to help them and elevate your service beyond the preparation of their tax return. note that you will have to call much more than 1/20^th of your clients to get meetings with 5 percent of them, but it will be well worth the effort.
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growth strategies

referral fee? forget it

capitalize on your “business currency” with better referral strategies.

by ed mendlowitz
202 questions and answers: managing an accounting practice

question: i referred a large amount of business to an attorney friend and she hasn’t reciprocated. i asked her for a referral fee and she declined. i’d like to keep referring her because she does a great job for my clients and that makes me look good, too. what should i do?

more: should you offer financial services? | thirteen things to consider before you sell your practice | ready to retire? selling your practice is no strategy | merge in lower-priced work without losing out | 20 things you need for a business valuation
exclusively for pro members. log in here or 2022世界杯足球排名 today.

response: it is always the right thing to look out for your clients’ best interests. referring the best attorney you know for a job is the right thing to do. however, you are in business and need to nurture referral sources.
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advisory & consulting

should you offer financial services?

10 points to consider before adding them to your practice.

by ed mendlowitz
202 questions and answers: managing an accounting practice

question: i am thinking of adding financial services to my practice. what are your thoughts?

response: for starters, “financial services” means selling investment products or managing money. this is different from adding financial planning, which i see as an extension of and a next step to sound tax planning for clients.

more: thirteen things to consider before you sell your practice | how much is your tax practice worth? | ready to retire? selling your practice is no strategy | uncooperative partner might not be the problem | merge in lower-priced work without losing out | 20 things you need for a business valuation
exclusively for pro members. log in here or 2022世界杯足球排名 today.

getting into the financial services business requires tremendous effort, training and a long startup period until a critical mass can be attained where there will be a reasonable cash flow and profit. this business involves the ability to sell and then deliver.
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marketing & sales

fifteen services a salesperson can sell

hate working leads? engage a pro.

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

if you want leads to get business from large companies for tax services, consider hiring a salesperson.

more on marketing: twelve ways to establish your brand | why other accountants are great referral sources | bundle tax services with financial planning | how to begin a business valuation | how to offer conflict resolution | get your clients talking about retirement
exclusively for pro members. log in here or 2022世界杯足球排名 today.

the salesperson should be a “professional” salesperson and does not need to be an accountant.
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mergers & acquisitions

thirteen things to consider before you sell your practice

are you being realistic?

by ed mendlowitz
202 questions and answers: managing an accounting practice

question: i am getting older and want to continue working at least five more years. should i merge now to anticipate and facilitate a buyout?

more: how much is your tax practice worth? | ready to retire? selling your practice is no strategy | uncooperative partner might not be the problem | merge in lower-priced work without losing out | 20 things you need for a business valuation
exclusively for pro members. log in here or 2022世界杯足球排名 today.

response: selling means retiring. is that something you want to do? i’ve written many times about being clear about your goals and what you really want. that being said, here is a general discussion about the reality of the value of your practice.
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outlook & analysis

survey: 42% of accountants turn away work over staff shortages

bar chart — complete answers include “we’re turning away work because of it,” “we’re outsourcing at least some work” and “we’re upgrading comp & benefits packages.”

survey respondents offer their strategies.

by 卡塔尔世界杯常规比赛时间 research

the most shocking stat to come out of early results in the 卡塔尔世界杯常规比赛时间 outlook 2024 emerging issues, opportunities and trends survey is also the most painful.

it’s this: 42 percent of responding firms are turning away work for lack of staff.

more: ethics on sustainability puzzle some accountants | accountants to the rescue as startups struggle | talent gap widening: be very scared | accountants hopeful, concerned and confused about ai | looking for recent grads? good luck | cpa biz is booming, but for how long?
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that’s a big ouch for firms that have spent time, effort and money on marketing, only to find that they can’t reap the results.

data is still coming in from firms across the continent (and a few from across the ocean), but the trend is definitely toward critical. and the prognosis isn’t good.
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marketing & sales

twelve ways to establish your brand

yes, appearances matter.

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

branding is part of marketing, but requires you to come up with a unique identity toward your specialty.

more on marketing: why other accountants are great referral sources | do you really want that client? | how to begin a business valuation | how to offer conflict resolution | get your clients talking about retirement | when clients remarry | seven questions to suggest estate planning | four reasons to perform tax projections
exclusively for pro members. log in here or 2022世界杯足球排名 today.

tax department branding can be done as part of the overall firm, or separately.
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pro member exclusive

how much is your tax practice worth?

five areas to calculate.

by ed mendlowitz
202 questions and answers: managing an accounting practice

question: how much can i sell my practice for? and how do you value a tax practice for sale?

more: ready to retire? selling your practice is no strategy | uncooperative partner might not be the problem | merge in lower-priced work without losing out | 20 things you need for a business valuation
exclusively for pro members. log in here or 2022世界杯足球排名 today.

response: good questions and ones i get all the time. here is a listing of some of the things that need to be considered in the pricing. when you sell your practice, the elements that need to be dealt with are:
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growth strategies

why other accountants are great referral sources

plus 9 ways to meet more people.

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

referrals should be your greatest way of obtaining additional business and in particular tax services.

more on marketing: do you really want that client? | want more tax clients? here’s how | seven keys to a complete succession plan | the tax effects of buying or selling a business | how to guide clients through divorce | help clients manage their investments | help heirs with tax issues | every client can use financial planning
exclusively for pro members. log in here or 2022世界杯足球排名 today.

referrals do not just come from existing clients, but can come from almost everyone you know. referrals are made by people who believe
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edward mendlowitz

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edward mendlowitz, cpa, abv, pfs, is a partner at withum, a forward-thinking, technology-driven advisory, and accounting firm. ed has over 40 years of public accounting experience, is recognized as one of the top 100 most influential people in accounting by accounting today, and is the 卡塔尔世界杯常规比赛时间 "practice doctor." his latest handbook for 卡塔尔世界杯常规比赛时间 is 77 ways to wow! the handbook for small-business advisory services.

ed is also the author of "memoirs of a cpa," available at amazon.

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"memoirs" tells his story as a cpa and provides an inside look at what cpas do and how they run their accounting "business." cpas must serve clients effectively and exceptionally, recruit, train, retain and grow staff, and charge fees that clients happily pay because of the value they receive while the cpa earns a living, funds a retirement account, grows infrastructure, and perhaps makes a profit. this book tells how he did all of this and much more.

more ed mendlowitz in the 卡塔尔世界杯常规比赛时间 store:

he is a licensed, certified public accountant in the states of new jersey and new york and is accredited by the american institute of certified public accountants (aicpa) in business valuation (abv), certified in financial forensics (cff) and as a personal financial specialist (pfs). ed is also admitted to practice before the united states tax court and has testified as an expert witness in federal and state court regarding business valuations, and twice at the house ways and means committee on tax reform, fairness, and reduction. a city college of new york graduate, ed earned his bachelor of business administration degree.

he is a member of the aicpa, the new jersey society of certified public accountants (njscpa) and the new york state society of certified public accountants (nysscpa). in addition, ed was a founding partner of mendlowitz weitsen, llp, cpas, which merged with withum in 2005. currently, he serves on the nysscpa estate planning committee and was chairman of the committee that planned the nysscpa’s 100th anniversary. ed, the author of 19 books, has also written hundreds of articles for business and professional journals and newsletters.

he is the contributing editor to the practitioners publishing company’s 706/709 deskbook, the aicpa’s management of an accounting practice handbook, corporate controller’s handbook and wiley’s handbook on budgeting and is on the editorial board of bottom line/personal newsletter and the journal of accountancy member panel on business valuation. appearing regularly on television news programs, ed has also been quoted in numerous major newspapers and periodicals in the united states. he received the lawler award for the best article published in 2001 in the journal of accountancy.

ed frequently speaks to many professional and business groups, including the aicpa, njscpa, nysscpa, american management association, the national committee for monetary reform, the university of medicine and dentistry in n.j., and many more. for 11 years, he taught courses on financial analysis, corporate financial policy and theory, monetary and fiscal policy, and managerial accounting in the mba program at fairleigh dickinson university.

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