outlook & analysis

getting a handle on covid

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views from the front lines: victoria martin, elaine kovner, gary zeune

accountants show new signs of optimism as fears of covid chaos wane.

how to battle the coronavirus recession
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by 卡塔尔世界杯常规比赛时间 research

the turning of a terrible tide of covid pessimism has been neither quick nor clear-cut as the endless busy season of 2020 drags on, according to new findings and analysis from the 卡塔尔世界杯常规比赛时间 busy season barometer.

more trends in surveys & research: covid crushes cpa business outlook |  is the worst over? 63% of small business say so | beat the covid crisis with these 20 steps for your firm and your clients | clients, revenues, profits – trending down, down, down | covid crushes rosey forecasts | the seven factors keeping accounting firms afloat amid covid-19 | feeling the pain? the biggest job losses by client sector | tax season pivots to covid rescue season | planning for the coronavirus recession | how accountants are coping with covid-19 |

more coronavirus coverage here

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the outlook certainly isn’t back to where it was in the sunny days of february. but hopes for a better year have edged up from 23 percent in april to 27 percent in may.

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pros filing more returns than diyers

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chart of irs tax return data for the week ending june 5, 2020… in the tax season that never ends.

by beth bellor

bleak but slightly less so.

more: tax pro e-filings down 20 percent | irs web traffic doubles over year-ago | covid drowns irs in new filings | 2020 tax season comes to a screeching halt | the tax season 2020 dumpster fire | tax pros fall behind 6.2% in returns filed | tax pros trail by 908,000 returns
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that’s probably the best way to categorize the trends in the most recent data from the internal revenue service.

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m&a surges ahead despite covid crisis

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//www.g005e.com/2020/06/10/ma-surges-ahead-despite-covid-crisis/but key trends, logistics, and legalities are changing.

by r. peter fontaine

given the enormous disruptive effect of the covid-19 crisis, it is surprising that mergers and acquisitions are still very much near the top of the accounting firm agenda.

more on cpa firm m&a: new rules: covid shifts m&a landscape | merging in sellers: what you need to know | five keys to successfully selling a cpa firm | mergers: what could go wrong? | 10 questions to ask yourself before buying an accounting practice | buyers name 20 big merger turnoffs | why firms merge: hint, it’s not for the clients | five key decisions for your exit strategy

coronavirus crisis updates: start here for a guide to all our coverage.

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in a word, sellers want to sell – and – buyers want to buy. we will examine the reasons we have seen that contribute to the continued strength of acquisitions; as well as the changes and challenges confronting buyers and sellers in a covid world. read more →

covid: learning how to operate in the new normal

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coronavirus crisis management outlook and analysis.

with sarah dobek

we’re out of the crisis stage or the triage mode,” inovautus founder and president sarah dobek tells 卡塔尔世界杯常规比赛时间 in a video interview.”and we’re moving in to the second phase, which is learning how to operate in what everybody’s calling the new normal.”

more covid crisis management videos: jean caragher: how to fight covid-19 ‘fear’ and ‘insecurity’ | jody grunden: covid and client communications | august aquila: what comes after coronavirus? | andrew argue is on a mission | martin bissett: covid slams u.k. accountants, too | bill reeb: covid crisis separates the winners from losers

chaos and confusion make client communications “so critical right now for cpa firms,” she says, adding. ” if clients aren’t getting information, they’re absolutely getting information from your competitors.” read more →

covid crushes cpa business outlook

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top three takeaways: hiring outlook for next 12 months is bleak. 92 percent of businesses report being negatively impacted by pandemic. liquidity emerges as a top concern.

the cpa outlook index falls 50 percent since last quarter and now stands at 38, its lowest level since early 2009. (aicpa)

via aicpa

battered by repercussions from the covid-19 pandemic, business executives hold the most pessimistic view of the u.s. economy since the end of 2011, when the nation was still emerging from the lingering impact of the great recession, according to the second-quarter aicpa economic outlook survey.

the cpa outlook index—a comprehensive gauge of executive sentiment within the aicpa survey— fell 50 percent since last quarter and now stands at 38, its lowest level since early 2009.

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is the worst over? 63% of small business say so

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but 84% worry about a second wave of infection.

by 卡塔尔世界杯常规比赛时间

as business owners across the country focus on getting back to business, 63 percent feel the worst is behind them when it comes to the impact of covid-19 on their operations, according to new research from a payroll agency that handles payrolls for 670,000 small- and medium-sized businesses.

more on the covid crisis: six ways accounting firms will never be the same again | retired cpa partners face pay cuts from covid | covid tests accountants’ entrepreneurial talents | deciphering the sba’s new ppp loan forgiveness rules [new dates added] |

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however, four in five business owners are somewhat or very concerned about a possible second wave of infection.

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retired cpa partners face pay cuts from covid

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facing the fallout from the covid crisis, 10 percent of small and midsized firms are already trimming compensation for retired partners.

firms target annual net profit caps, early retirement provisions, and mandatory retirement ages.

by domenick esposito

with profits likely to take a short-term hit, retired partners at many cpa firms are facing cuts to their payouts, according to our straw poll of 30 leading firms.

more from dom esposito:  keep your firm from biting the dust | the six ingredients for firm value | four ways to add $100,000 in new business fees every year | eight steps to small firm survival | no partner candidates? whose fault is that? | prune your firm: ‘rightsize’ managers and partners | how partners fail | ineffective management is hazardous to your firm’s health | profitability requires discipline |

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coronavirus crisis updates: start here for a guide to all our coverage.

with covid-19 hurting revenues and bottom lines, firms of all sizes are reconfiguring their staff loads and renegotiating their space requirements.

but we haven’t heard much about what firms are doing about their obligations for deferred compensation partner retirement plans. until now.

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beat the covid crisis with these 20 steps for your firm and your clients

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the ultimate checklist for focusing on cash, communication, continuity – and accepting uncertainty.

卡塔尔世界杯常规比赛时间 business barometer
your best advice to colleagues and clients?
join the survey. get the results.

by 卡塔尔世界杯常规比赛时间 research

the toll of covid-19 on business will be an ongoing trauma. it ain’t gonna be over ’til it’s over, and that ain’t gonna be for a long, long time.

more on covid crisis management: how to inoculate your firm against covid competition | pro tax prep stalls to a crawl amid covid-extended season | covid kills 67,600 jobs in tax and accounting | client accounting services poised to surge in post-corona world | clients, revenues, profits – trending down, down, down | andrew argue is on a mission | 3 questions for determining your value | covid crushes rosey forecasts | the seven factors keeping accounting firms afloat amid covid-19 | feeling the pain? the biggest job losses by client sector |

see: all 卡塔尔世界杯常规比赛时间 special coronavirus crisis coverage

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to survive, tax and accounting practices are going to need to take precautionary and proactive measures to ensure their financial continuity. those measures must necessarily include guidance for clients to help them survive. because failing clients mean failing firms.

crisis management is a lot easier if it starts before the crisis hits. here are some steps that accountants can take for themselves and their clients, gleaned from the thousands of accountants and advisors we’ve been hearing from over the past several weeks. read more →