growth strategies

the disruptors: can geraldine carter save accountants from themselves?

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go pro for the complete video, notes, analysis, takeaways and transcript.

the disruptors
with liz farr

geraldine carter is on a mission to make accounting more attractive as a profession, and to make accountants more profitable, particularly soloists and small firms.

more: the disruptors: re-inventing accounting with tyler anderson |  the disruptors: how to scale with new padgett coo amanda aguillard | eat that frog: asking for a prospect meeting | growing revenue through client service | lease accounting is about to get very real | google ads for new tax season clients | exclusive: eisner ceo charly weinstein explains the private equity deal  | flash briefing: a “call to arms” after private equity deal | four ways to beat the staffing shortage, with pasha malik

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in this episode of the disruptors with liz farr, carter explains the trouble with “orphan 1040s,” how to “level up” your firm, the priceless value of emotional intelligence, and why giving your all is too much (80 percent is enough.)

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the hidden cost of interstate sales tax

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most small businesses are probably paying too much. or, too little. who knows?

s.a.l.t. for the wounds: the total estimated hours per month spent on tax management activities, by industry, with retail the highest at 209 hours. (avalara/potentiate)

by 卡塔尔世界杯常规比赛时间

the true cost of interstate sales tax compliance borne by small businesses is fast mushrooming into a problem of national proportions, according to new research. and while it may be a big opportunity for accounting firms, most small business owners are probably spending too much, or just as worrisome, too little.

more on salt: when tax collectors go digital | tax regs for the metaverse | sales & use tax costs are higher than anyone thought | survey: nobody loves the wayfair decision | accountants to small biz: ‘be nimble, be quick, be careful’ | turn client wants into needs | the 15 absolutely necessary services for cas clients | a job description for client accounting services | salt: the small business disaster waiting to happen | survey: rough seas ahead for small business |

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according to a 卡塔尔世界杯常规比赛时间 survey, 39 percent of accountants believe their small business clients were “mostly not in full compliance” with cross-border collection and remittance requirements. each of those non-compliant clients is a potential problem and an opportunity for their accounting firm.

now a new avalara-sponsored survey looks more closely at “emerging small businesses” (esbs) with under 20 employees, and small and medium-sized businesses (smbs) with 20-50 employees. read more →

beyond tax prep: the big cha-ching!

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five reasons business clients are ready for tax advisory services.

credit for data: intuit

by 卡塔尔世界杯常规比赛时间

question: if half your tax clients were buying planning or advisory services for five times what they’re paying for tax prep, what would that add up to?

answer: a big cha-ching!

more on tax season: crisis at the irs | the irs’s 10 biggest problems. here are just the first five. | fear and loathing for tax season ’22 |  padar joins vc-backed tax fintech for banks |  covid chokes an already crippled irs | tax regs for the metaverse | 10 steps to a superior tax department | accountants critical of competitor price-cutting |  automate busy season with apps you already use | sales & use tax costs are higher than anyone thought | survey: nobody loves the wayfair decision | busy season forecast: more chaos  | a woman named wanda leaves an ira nightmare  | are you under-pricing your client accounting services?  | your best advice: get smart, get tech, get moving | worries for small business clients |

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this may be the season for tax filing, but accountants failing to leverage prep into planning and advisory are missing out on a lot of potential revenue.

the average annual fee for tax planning and advisory services is $2,351—five times the average annual tax prep fee of $459, according to a new study. read more →

boom! covid drives startups

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small-business start-up rate running 50% higher than pre-pandemic. (via zapier)

71% plan to continue with their new ventures.

by 卡塔尔世界杯常规比赛时间

as the world bemoaned the cruelty and inconvenience of the covid-19 pandemic, a lot of entrepreneurs were making the best of times in the worst of times.

the result: a lot of new small businesses. and each one is an opportunity for an accountant.

more outlook & analysis: accountants critical of competitor price-cutting | are you under-pricing your client accounting services?  | stop complaining and start innovating | five tough-love strategies for 2022 | survey: tech is the path to a better tax season | private equity at the gates | top 20 trends for the year ahead | sales & use tax costs are higher than anyone thought |

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the pandemic years have seen a huge spike in not just covid-19 cases but new business creation, a breathtaking increase of 50 percent, according to a survey from zapier, the software automation company. it started just as existing businesses went into lockdown, and the trend isn’t stopping any more than the virus is.
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how to become a specialist

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woman's hand pressing words "ask an expert"some of your training can happen on the job.

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

once you decide upon a specialization, you need to go about making yourself an expert. read, join professional associations, take focused cpe, and try to write articles or give speeches. accountants who are industry experts become industry thought leaders.

more: success secrets in specialties | making sure the son got proper credit | yes, shirt logos can matter | 10 more reasons cpas quit public accounting | family trees of clients
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some specialties require obtaining designations or certificates of completion that require study and time – an investment you and the firm would have to make. there is no easy path to growing and establishing expertise, but it is a joyful ride.
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when to pick up the phone this tax season

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businessman talking on phone in the officepersonal touches help retain clients.

by ed mendlowitz
tax season opportunity guide

clients are not numbers on a list that needs to be reduced. they are all individuals and consider themselves very important people and want professionals who treat them accordingly.

more: these five procedures will simplify your tax season | 11 steps to better client tax instructions | get your team ready for tax season | 12 ways to squeeze fun into tax season | 6 ways to get paid faster in tax season
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it is attitudinal and accountants must adopt that mindset and transmit that through to their culture. so you need to know when it’s essential to pick up the phone.

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five steps to building advisory work

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both the who and the how.
hand watering small plant in pot shaped like upward arrow

by bill penczak

the nirvana (in the esoteric sense, not the kurt cobain context) for cpa firms is to provide “higher value” work for their clients, which traditionally means guiding them with process improvement, predictive analytics on business drivers, or taking proactive measures to reduce risk or tax burden.

more: the six essential kpis for managing partners | the great resignation: five reasons accountants are quitting | five global cpa leaders: four survival strategies | planning for success in 2021 | do you have the guts to beat the covid crisis?
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it is a career builder for your staff and a noble aspiration for the industry.

but while i have heard managing partners talk about the notion of higher value work, when pressed, they are often at a loss as to what that work would be, and more importantly, whether their mid-level and junior-level staffers (or even partners) have the true skill set to move into the major leagues.

the burden of meeting compliance deadlines weighs heavily on most staff, and they are weary from deadline pressures of clients’ immediate needs to consider much else.

perhaps this is the opportunity to help chart your best and brightest to the next level, not only for fear of losing them to industry or another firm, but because as a firm leader, it’s the right thing to do.
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turn your business model upside down and reap the rewards

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illustration of man pushing "services" buttonyour secret weapon to exponential profits.

by matt solomon

learning to price, sell, and deliver through a simple, proven process streamlines the way you communicate your value and makes it easy for clients to say yes. it’s your secret weapon.

more: shift 2: step into the role of a business advisor | shift 1: stop depending on compliance work | take the nine-point practice checkup | three ways to leverage today’s uncertainties for renewed growth
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with practice, your ability to price, sell and deliver will be as routine as a 1040

but it’s worth a whole lot more: between $36,000 and $180,000 per year, per client.
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4 top communication habits

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component parts of how the other person perceives your in-person communication
component parts of how the other person perceives your in-person communication

show that you value your clients – and yourself.

by martin bissett
passport to partnership

i’ve had the benefit of meeting, speaking and observing hundreds of very successful and unsuccessful partners over the last two decades and there is indeed a set of differentiating factors that set a partner apart from the chasing pack.

more: the seven levels of communication management | how to measure partner potential | checklist: partner-ready metrics | checklist: 10 keys to landing your next client | focus on your client’s concerns, not yours | 8 questions for business success
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here are the four “best-selling behaviors” that i’ve observed:
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turning client service into new revenue

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podcast: today everyone contributes to growth.
//www.g005e.com/?p=91438

stream or download the episode. |  follow 卡塔尔世界杯常规比赛时间 podcasts on apple here |
or paste this rss link into the podcatcher of your choice.

with sarah johnson dobek and ty hendrickson
inovautus consulting
sales is sometimes presented as this abstract notion of convincing someone to buy your product, but it actually follows a simple framework. it may seem like an obvious answer, but there’s some science behind the why.

success secrets in specialties

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make sure your choice is interesting and portable.

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

i was not a specialist. in some respects, i am the last of the “expert generalists” and generalists are fast becoming extinct.

more: making sure the son got proper credit | yes, shirt logos can matter | preparing for the worst (thanks to my wife) | why cpas should stay in public accounting | readers rip: ‘she wanted her shoebox back’ | ceos don’t always know numbers
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in this age of specialization and niche expertise, being a generalist is a negative to most people, indicating a lack of competency in their area. i tend to think of the old general practitioner physicians versus the modern-day specialists. no one looks at the whole patient.
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10 ways to protect your best clients from your competitors

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two businessmen shaking hands in front of tall office buildingsdo they know how valuable they are … and why?

by ira rosenbloom

in every market, cpa firms have a wish list of clients they would like to have. clients will change accountants for all kinds of reasons. some changes are natural, like new decision makers, new owners and new lenders. others change because of service.

more: are you overthinking an m&a deal? | how to put the ‘success’ in succession | how covid-19 has changed succession planning | top 10 steps to maximizing profitability
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to keep your competitors from poaching your business, remember to always treat your best clients as your best clients! here are 10 recommendations to keep in mind.
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making sure the son got proper credit

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businessman holding word "success" and upward arrow in handsthe difference a graph can make.

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

i have a client who owns considerable real estate that her son manages. the son actually does a very good job maintaining the property, growing rents and keeping vacancies to a minimum.

more: yes, shirt logos can matter | 10 more reasons cpas quit public accounting | the 10 best movie accountants | when cpas leave to work for a client | when parents, children hit an impasse | wealth is a state of mind
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my client’s husband was the builder and driving force behind this mini empire, but he passed on a few years ago. he was a dynamic self-made person who amassed quite a fortune and turned over daily operations to his son about 10 years before he died to spend considerable time golfing and traveling.
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