bradley burnett: the “uncle billy” problem with the erc.
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with bradley burnett, jd llm
with 18 months of water under the bridge, we’re three-fourths of the way through the employee retention program, the irs changed their mind on an extremely important issue that changes many, many tax situations. read more →
but hurry, time is running out.
by bradley burnett, jd llm
the employee retention credit could be worth more than $330,000 to a small-business client.
but our polling shows that 75 percent of tax and accounting professionals have filed no (that’s zero) forms to claim the credit for clients. and now it’s ending early, due to a congressional compromise on the big infrastructure bill.
but congress adds a last-minute surprise.
with bradley burnett, jd llm
> > > catch bradley’s next webinar on the erc here
have you taken the time to trace your referrals?
by ed mendlowitz
call me before you do anything: the art of accounting
for those of us in public accounting, there is a continual need to get new clients. many times we look beyond what we have for the “new” when the growth is there for the taking.
more: the 10 best movie accountants | why accountants quit | when siblings battle over the family business | how bickering can ruin a family business | the six types of “impossible” clients | you’re not just taxes | granting unconventional request pays off | 20 best practices for staff training and retention
exclusively for pro members. log in here or 2022世界杯足球排名 today.
one of the most important ways a practice can grow is for existing clients to recommend new clients. i have always valued such referral sources, and this value surpasses the fees they pay us. they look out for us and help us grow – i owe them!
read more →
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
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.
not just bad, but malpractice-level wrong.
by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor
question: i was asked to consult with a client selling his business and provided a fixed-fee estimate for the project. the fee was layered based upon how the project progresses.
more: don’t like checklists? find a new job. | five ways to get staff to own their work | writing a reference? here’s how | 44 key attributes for assessing staffers | make cpe worth your while | what to do with a lousy client? | but i am managing! | how to run a practice in 90 pages | how improv can help accountants | four tips for new partners | an alternative to pro bono
i am usually pretty good at estimating what these things cost, also considering that the accountant might not have done too good of a job and some minor fixing up is needed. however, in this situation the reports the accountant prepared were totally wrong and needed massive changes. how should i handle this?
read more →
sometimes it takes a catastrophe to spur fundamental change, and that’s what we’re seeing today.
by bill penczak
the combination of the summer doldrums and the covid shutdown has provided some firm leaders pause to get in touch with their right-brainedness.
more marketing in the covid era: 5 things your firm should do differently this summer | do you have the guts to beat the covid crisis? | how to inoculate your firm against covid competition | ‘found money’ delights clients | don’t buy a rolodex, buy a process | the three r’s for beating the corona crisis | 6 reasons why your marketing sucks |
these are difficult times for the economy and the industry, and while some firms hope to return to the good old days, covid and other societal changes may cause a long-overdue sea change in the accounting industry, which has been doing the same thing the same way for more than 100 years.
sometimes it takes a catastrophe to spur fundamental change, and that’s what we’re seeing today.
three keywords to guide you.
by hitendra patil
client accounting services: the definitive success guide
“we want to offer outsourced cfo and advisory services.”
it has become an increasingly more common intent of accounting firms of all sizes. technology automation, artificial intelligence and more innovative solutions seem to make it even more logical for accountants to feel that the future is more about advisory services than ever before.
more: is it time to outsource? | your firm’s cas team: who and how many | two tech approaches to cas | when to start building your cas tech stack | stop derailing cas | show your priciest cas package first | your firm needs a cas champion
if you have similar intentions and goals, please answer this question:
“what type of advice do you give to your clients, periodically and regularly?”
or turn it around and answer this question:
“what type of advice do your clients seek from you and when?”
if you could think of 5-10 different actionable insights you regularly deliver to your clients, congratulations! but if not, do not worry. it is not difficult to lay a strong foundation for your advisory services. read more →
which do you need to work on?
by bill penczak
client relationships have never been more vulnerable, as other firms, reeling from the covid crisis, will be knocking on your clients’ door with promises of better service, more services, and lower rates.
more: re-thinking today’s firm with five global leaders | 5 things your firm should do differently this summer | do you have the guts to beat the covid crisis? | how to inoculate your firm against covid competition | ‘found money’ delights clients | the three r’s for beating the corona crisis
now, more than ever, tax and accounting firms should examine how they can constantly improve the service and relevance to their clients, for today and into the new normal.
gary cokins on predictive accounting and driver-based budgeting.
with steven sacks
the new fundamentals
the main problem with the annual budget process as a fiscal exercise done by the accountants is that it is disconnected from the executive team strategy.
more steven sacks: would you buy your own services? | the future of the accounting profession | avoid last-minute deal making | business is about relationships | can a cpa firm be different in a changing market? | a rapidly changing business environment requires flexibility
more with gary cokins: the myths of performance management | gary cokins: the truth about activity-based costing
corporate finance expert gary cokins says the typical annual budget process allows too much room for bad habits, such as the use-it-or-lose-it mindset of allocated resources, as well as incorporating last year’s inefficiencies in processes into the current year.
five key take-aways:
stick to the facts.
by ed mendlowitz
the 卡塔尔世界杯常规比赛时间 practice doctor
question: i have been asked to provide a reference for a former controller of a former client.
more: titles can make people happier | help! key staffer refuses to supervise people | get more done by saying no | are you marketing for 2022 yet? | but i am managing! | how are you spending the next five years?
exclusively for pro members. log in here or 2022世界杯足球排名 today.
should i do it?
read more →
do you have the courage to beat the covid crisis?
by bill penczak
in times like these, firms should be challenging themselves with the tough question, “what do we want to be, today and into the future?”
more: re-thinking today’s firm with five global leaders | 5 things your firm should do differently this summer | do you have the guts to beat the covid crisis? | how to inoculate your firm against covid competition | ‘found money’ delights clients | the three r’s for beating the corona crisis
if maintaining the status quo and “serving clients,” whatever that really means, are the only responses your partner and leadership teams can muster, then perhaps it’s time to evolve from being a lifestyle firm to being one with a vision and the guts to achieve it.
are you sure that grass is greener?
by ed mendlowitz
call me before you do anything: the art of accounting
i know many cpas who left public accountancy to take a “better” job. for many of them this was a mistake. for some it worked out, so if you are one of the lucky few, you can stop reading what i have to say.
more: when siblings battle over the family business | readers rip: ‘she wanted her shoebox back’ | ceos don’t always know numbers | finding new business in sustainability | how to recoup staff training costs
there are basically three types of companies the accountant could work for – a small client that does not have an in-house controller or cfo, one whose controller will be replaced by the departing cpa, or a large company that has an entire accounting staff already in place. let’s talk about working for the small companies that do not have a controller.
read more →