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the three types of advisory services clients need today

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how to use the whole-of-client approach.

by gary bolinger
profit in disruption

planning for positive change and why people do what they do (or don’t) is fundamental to advisory services.

more bolinger on advisory: you can’t separate the business from the client | tell managers what ownership means | clients: what accountants don’t understand | why accountants fail at consulting | advisory vs. low-value clients | what + who leads firms to better service | how accountants are profiting in disruption | ask the right question(s) | seven elements of engagement for cpas | true advisory work isn’t just consulting

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

your clients have both personal and business goals. over time you should assist the client in achieving both business and personal goals.
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five skills that spell success

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and none are tax or accounting.number 5 drawn in sand

by sandi leyva
the complete guide to marketing for tax & accounting firms

we’ve worked hard on gaining our accounting tax and auditing skills. those skills alone will keep us working as employees for someone else, but what if we want to go out on our own or grow our business beyond what we have now?

more: the seven-step plan for marketing by spreadsheet | five things clients have taught me | beyond compliance: what more you can provide
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here are five skills to consider adding to your toolbox to get ahead faster.

how do you rate in each of these areas?

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the art of leadership: empowerment

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but there has to be accountability.

by anthony zecca
leading from the edge

editor’s note: zecca’s new book, “leading from the edge – creating a standout, high-performing organization,” focuses on the leadership needed for accounting firms to succeed in a future of seismic disruptors. in this special series, he addresses key aspects of “edge leadership” and the challenges most accounting firm leaders (all leaders for that matter) are facing today. the first article in this series focused on strategy because leading a firm without a strategic roadmap is like walking on a treadmill – no matter how fast you move or how long you tread, you end up just looking at the same wall.

a characteristic of a great “edge” leader is the ability to empower everyone, understanding that your responsibility is to lead and not manage as a leader. if a leader does not have the confidence in their leadership and/or their leadership team to empower those who they lead, the result is managing everything versus leading everyone.

more: the art of leadership, lesson one: strategy
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why is empowerment the second leadership concept in this series? a characteristic of a great “edge” leader is the ability to empower everyone, understanding that, as a leader, your responsibility is to lead and not manage. if leaders do not have the confidence in their leadership and/or their leadership team to empower those who they lead, the result is managing everything versus leading everyone.
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new small firm cost seg opportunities

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portrait of brian coddington
coddington

accountants’ top five questions answered.

by brian coddington
source advisors

brian coddington is the director of tax accounting methods and credits in the fort worth, texas, office of source advisors.

cost segregation is a highly beneficial and widely accepted tax compliance strategy utilized by commercial real estate owners and tenants to accelerate depreciation deductions, defer tax and improve cash flow.

more: can the r&d tax credit be used to offset the amt? | how the r&d tax credit has expanded over the years | the nine-point plan for handling §179d
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1 — who uses cost segregation?

once used only by the largest accounting firms and real estate owners, this practice has now become routine for commercial property owners of almost every size.

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don’t overlook office relationships

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two businesspeople meeting over coffeethey’re simple, but not easy.

by steven e. sacks
the new fundamentals

business can usually be conducted by phone, videoconference or in person. it really doesn’t matter the approach; what is important is how you comport yourself – irrespective of whether the individual(s) with whom you are dealing are superiors, peers or subordinates.

more: how to deliver authentic value | making the jump from small to mid-sized firm | what sets your firm apart … if anything? | why deadlines get missed | too busy? you may need to reprioritize | is it time to outsource?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

i can’t tell you how many times i have witnessed conversations that were best conducted behind closed doors. the old adage of praise in public, criticize in private is underused or completely ignored.
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one times fees isn’t the only way

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check the math.

by marc rosenberg
cpa firm mergers: your complete guide

partners in accounting firms are familiar with the rule of thumb that a cpa firm’s goodwill (excluding capital) is worth one times fees. however, like many rules of thumb, this notion is often incorrect.

more: thinking merger? first ask why. | why do you want to merge? be honest. | four reasons to fear a merger
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when buyers begin to think about how much they will pay for a smaller firm, they often have this one-times-fees notion in the back of their minds. then, when sellers are bold enough to ask for a price in excess of one times fees, buyers often balk.
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my first trainee

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leads to new opportunities.confident businessman analyzing chart and explaining it to co-worker

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

i was fortunate early on in my career that i had a boss who gave me responsibility to supervise. on some level i was not really instructed how to supervise, but was told i could use the new person to help me get my work done.

more: the growing pains of a small firm | giving clients the best you’ve got | secrets in specialties | 10 more reasons cpas quit public accounting | when cpas leave to work for a client | when parents, children hit an impasse
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this was precipitated by an email i received from the first person ever i supervised. i had not spoken to him since working with him in 1968. he emailed me because he read one of my columns and just wanted to say hello. i remembered him and then i recalled how i got started training him – he was the first person i trained.
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nine tax season resources that get forgotten

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happy family of four outdoors in winter clothing on snowdon’t take these for granted.

by ed mendlowitz
tax season opportunity guide

we have many resources and need to recognize that. and we need to treat each with its own importance. even if you did everything yourself, you’d still need to rely on your tax software company, fedex and the postal service, stationery supplier, computer consultant, the internet and email, cell phone provider and copier/scanner machine. and that’s just a few of the resources we rely on. managing your resources well creates an aura of security and consistency to your practice.

more: 16 traits of the best tax clients | eight ways to charm a client | plug small leaks before they become big floods | you’re only as good as your last screw-up
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but there more. and they are often overlooked. or taken for granted. here are some more resources that need to be managed:
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survey: big worries for u.s. and small business

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about two-thirds of accountants expect tougher times ahead for the nation’s economy and for small businesses. they are considerably more confident about the outlook for their firms. (卡塔尔世界杯常规比赛时间 research)
click here to launch survey
click here to launch survey

while signs are looking better for firms.

by 卡塔尔世界杯常规比赛时间 research

in a contradictory combination of economic outlooks, accountants are seeing pretty good times ahead for their firms and families, but trouble for other businesses.

more busy season ’22:  working harder for every dollar  | irs tops list of busy season problems  |  for a few: why busy season 2022 beats 2021 |  can the r&d tax credit be used to offset the amt?  |  21 reasons tax clients fire accountants  |  unhappy about tax season?  |  individual tax refunds up 13%  | shut down the tax charlatans   | eight quick, easy ways to fix irs filing   |  a tax season worse than 2021?  |  16 traits of the best tax clients  | irs under covid: heroes or goats?

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according to mid-season results from the 卡塔尔世界杯常规比赛时间 busy season barometer, 38 percent of respondents think the next 12 to 18 months will be much better (at 7 percent) or at least somewhat better (31 percent) for their own firms, and almost half – 45 percent – believe they’ll be doing at least as well as last year.
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how to deliver authentic value

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female executive greeting coupleconsider it from the client’s perspective.

by steven e. sacks
the new fundamentals

do you ever wonder if events you attend have an air of authenticity around them or are they simply staged? what about the options offered on new cars or the latest and greatest upgrades to a tech gadget? is the hype greater than the actual product? is what is considered innovation really just an incremental change that competitors can duplicate, albeit with minor modifications?

more: what sets your firm apart … if anything? | why deadlines get missed | five reasons you’re not swot-ready | are you productive or just busy? | accounting is a profession, not an industry
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

as for professional services firms, are they providing a unique service in a unique fashion? today, clients are looking at the cost of traditional audit and tax work. because they are commoditized services, the decision is price-driven, so lowballing becomes routine for firms.
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can the r&d tax credit be used to offset the amt?

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portrait of alex pak
pak

check four tests for qualified research.

by alex pak
source advisors

alex pak is a director in the los angeles, california office of source advisors.

the protecting americans from tax hikes (path) act of 2015 includes provisions that allow certain taxpayers to offset their amt liability with the r&d tax credit for taxable years beginning on or after jan. 1, 2016.

more: how the r&d tax credit has expanded over the years | the nine-point plan for handling §179d
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

amt limitations

before the path act, amt restrictions prevented qualified companies from utilizing 100 percent of the r&d tax credit. the excess credits were often carried forward. today, small businesses can offset amt using the r&d tax credit for tax years beginning after dec. 31, 2015.
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thinking merger? first ask why.

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businesswoman walking up stairskeep your deal-breakers and must-haves to a minimum.

by marc rosenberg
cpa firm mergers: your complete guide

it’s important to understand the flow of the entire merger process. always start with the big picture before getting into the details.

more: why do you want to merge? be honest. | four reasons to fear a merger
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

every merger has its unique aspects. it’s impossible to choreograph from a to z exactly how the process for each merger will work.

the steps in the process listed below appear in the order of how they commonly occur.
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the art of leadership, lesson one: strategy

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the “best” isn’t enough. “unique” is the secret ingredient.

in his new book, “leading from the edge – creating a standout, high-performing organization,” anthony zecca focuses on the type of leadership that accounting firms need to succeed in a future driven by seismic disruptors.  this is the first in a series of articles that will focus on key aspects of “edge leadership” and the challenges most accounting firm leaders (all leaders for that matter) are facing today. the next article will focus on “the art of leadership – empowerment”.  empowerment without accountability is like making ice without water – can’t be done.

by anthony zecca
leading from the edge

strategy: so much has been written about it and how to create it. harvard’s michael porter famously said strategy is best based on being unique, and not being the best.

more on the edge leader: is your team climbing the right wall? | how to build a standout team | competing for talent in a private-equity world | five keys to becoming a high-performing firm | assessing your firm | the 4 traits of great cpa leaders | why leaders must ensure clarity | incremental vs. exceptional success | do you lead or just manage? | managing vs. leading | is your leadership team at the edge? | 6 leadership challenges through covid and beyond | edge leaders share 7 strengths | leadership must drive culture | leading from the edge
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

sounds crazy but the following quote (slightly modified) is what i think aligns with how an edge leader will think about strategy:

“strategy starts with thinking the right way about competition. many managers (leaders) compete to be “the best”—but this is a dangerous mindset that leads to a destructive, zero-sum competition that no one can win. competing to be unique, on the other hand, is the basis of a sound business strategy…”

how many firms go through the annual ritual of budgeting and partner retreats that in the end, at best, create some tactics that might improve the firm’s results incrementally?  how many leaders at these firm retreats focus on tactics versus strategy?  how many leaders think that developing long-term strategies (3 to 5 years) is unproductive given the challenge of thinking about the future so far down the road?  finally, how many leaders, when strategy is discussed, focus on being the best versus being unique?

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