three ways to thrive with limited capacity

smiling man working at laptop in office with glass walls

turn the staffing shortage into a new opportunity.

by frank stiteley
the relentless cpa

charles dickens had to be writing about the accounting profession when he wrote, “it was the best of times, it was the worst of times.”

clients are plentiful. i met a new client coming out of the restroom at our office complex. we get four to five inquiries a day – out of tax season. during tax season, we turned down four out of five prospective clients.

more on staffing: tax and accounting jobs and salaries show strength | olympics of outsourcing and offshoring for accountants | new study: strong and steady growth for accountant jobs and salaries | can’t recruit? retain! | is tech causing both cpa shortage and low salaries? | staffing tops list of woes at cpa firms | to replenish the talent pipeline, go back to the classroom | whole person retention: when it’s not just the money | more big firms shut their doors to new college grads | seven enticements to keep talent on board | employee retention is easier than attraction | let interns fix the staffing shortage? | disruptors: talent crisis? what talent crisis? | firms culling clients as staffing woes persist
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staff are not plentiful – at least not good ones. i’m getting two or three resumes a day, but they’re the warm body sort most of us learned the hard way not to hire during the pandemic. you’ve seen these resumes too. they are people with six employers in eight years. you are certain to be number seven in nine years. they claim eight years of experience, but you can see from their job history that it’s really two years of experience repeated four times. and – they want $100k for those two years of real experience.

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tax pros hold slimmest of margins in e-filings

data chart
data for the week ending may 22

but those filings remain down 17 percent.

by beth bellor

bright spots keep popping up in the internal revenue service’s weekly data on filings. yay!

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 | tax pro irs filings lag by 532,000
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unfortunately, they’re in the same old spots: refunds (which don’t help overworked cpas), irs.gov traffic (maybe there’s where all the budget goes) and self-preparers (who even let them in?). boo!
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covid tests accountants’ entrepreneurial talents

young black woman sitting in front of laptop looking thoughtfulthree questions to re-set your mindset.

by ed mendlowitz
tax season opportunity guide

accountants and tax practitioners are entrepreneurs. maybe now, more than ever.

more: have you gotten where you wanted yet? | 3 questions for determining your value | 41 items to check on business tax returns | keep these tax clients while you have the chance | what makes a good tax season client?
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this means their practice needs to be run as a business with sound business decisions being made.

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is this the firm you really want?

clean slate with three pieces of colored chalkthis may be the perfect time to imagine starting with a clean slate. bonus: four questions to ask yourself.

by ed mendlowitz
tax season opportunity guide

we all get caught up with what we do. sometimes so much that we lose sight of what we are doing and the purpose.

more: 3 questions for determining your value | help your clients and yourself | what’s not to like about tax season? | do your clients feel important? | 4 reasons to push ahead with tax question research | help tax clients help you | bill with the tax return, get paid faster
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also, work happens. many of us start out with lofty plans that go astray as the practice develops. many things cause it – clients we get, availability or lack of availability of the right staff, how we choose to learn or not learn new things, and even where we locate.

now stop for a moment, forget about what you are doing, and fantasize about how you would start a practice from scratch.
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pro tax prep stalls to a crawl amid covid-extended season

data chartpros hold the margin, but barely.

by beth bellor

new tax filing statistics show only a couple of upticks over last year: diy e-filings and irs website traffic, suggesting tax practitioners have hit the big “pause” button on tax season 2020.

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 | tax pro irs filings lag by 532,000
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

then again, if you’re in i.t. at the irs, that might not be such happy news.
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clients, revenues, profits – trending down, down, down

eckelkamp, neilson, blank: clients late, clients new, clients in need

pandemic cuts profits at 42% of firms, client numbers off at 29%, and revenues down at 38%.

the 卡塔尔世界杯常规比赛时间 business barometer
how accountants are managing:
join the survey. get the results.

by 卡塔尔世界杯常规比赛时间 research

like just about every other business in the world, cpa practices are hunkering down for a year of hard times. yet a third of them think they can buck the odds and see some increase this year.

more:  saving 10,000 businesses from the covid crash  | the seven factors keeping accounting firms afloat amid covid-19 [survey results] |  feeling the pain? the biggest job losses by client sector  |  tax season pivots to covid rescue season  |  how accountants are coping with covid-19 |  survey: confronting coronavirus chaos | planning for the coronavirus recession | tax season turns ugly under coronavirus | tax season turns ugly under coronavirus | coronavirus culture-shift hits accounting firms | 41 items to check on business tax returns | tax season funnies: the poetic versions | how to stop drowning in covid tax deadlines [webinar]

卡塔尔世界杯常规比赛时间 is providing free access to some of our latest coronavirus crisis updates: start here for a guide to all our free coverage.

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back in the bullish days of february, the 卡塔尔世界杯常规比赛时间 2020 busy season barometer was reflecting expectations of more clients, burgeoning revenue, and increased profit, with a medium-chance of more extensions.

but these bearish days see most practitioners expecting a year stagnant at best and quite likely worse than stagnant in all benchmarks of success.

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3 questions for determining your value

handshakehow necessary are you under covid?

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: help your clients and yourself | ask this before clients do | more services for your tax clients | can your reviewers answer these 10 questions? | 5 small leaks that can sink a tax season | one can’t-skip touch for tax season | 3 steps to tax season happiness
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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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