tech and fintech

eisneramper gets private equity backing

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charly weinstein on cnbc talking about the private equity deal.

towerbrook capital partners’ infusion “reimagines the traditional accounting firm model.”

by 卡塔尔世界杯常规比赛时间

eisneramper llp – one of the profession’s top 20 firms with more than $420 in annual billings, 200 partners, and 1,200 employees – has sold about half the firm to towerbrook capital partners, a private equity fund with big investments in the financial services sector.

more on private equity for cpa firms:

flash briefing webinar: a “call to arms” after eisner private equity deal, with dom esposito and anthony zecca

analysis by esposito and zecca: how outside capital can remake cpa firms

analysis by esposito and zecca: private equity the new source of growth capital for cpa firms?

eisneramper gets private equity backing

as a result, eisner is splitting into two entities: the legacy eisneramper llp, a licensed cpa firm, to provide attest services, and the new pe-funded eisner advisory group llc, for business advisory and non-attest services. terms were not disclosed but towerbrook has a reputation for taking controlling interests in the companies it funds. audit and assurance account for about 49 percent of eisner’s pre-deal billings, with 42 percent from tax and 9 percent in consulting.

“it will be a positive disruptor in the profession,” according to charly weinstein, eisneramper ceo.  “rather than conforming to traditional frameworks, adopting a new model of ownership facilitates the best structure for the firm to drive growth and innovative solutions to our clients. our colleagues will be able to chart a course for success in our purpose-built practice structure.”

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tech: accountants are losing the race

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infographic
all images: zapier data

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

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.

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cybersecurity for tax professionals

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welch

checklist: the 24 steps to prevent and, if necessary, respond to breaches.

by amy welch

last year, there were nearly 90,000 reports of tax identity theft, according to the federal trade commission.

in fact, in june, an irs agent admitted to stealing someone’s identity. law360.com reported special agent bryan cho, 49, pled guilty to aggravated identity theft and wire fraud in a brooklyn district court. it appears anyone can be a criminal!

join donny shimamoto, cpa, citp, cgma, for “hybrid work: holistic approach to customer, employee & cybersecurity risks,” aug. 26, 3:30 pm et. register here | learn more

it’s also important to note that protecting taxpayer data is the law. according to the ftc safeguards rule, “tax return preparers must create and enact security plans to protect client data. failure to do so may result in an ftc investigation.” additionally, any “failures that lead to an unauthorized disclosure may subject you to penalties under sections 7216 and/or 6713 of the internal revenue code. read more →

automation without accountants

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top use case: 43% of accountants use automation to import hours into payroll.

more than half the work world is embracing automation. why not accountants?

why accountants won’t automate:
join the survey. get the results.

by 卡塔尔世界杯常规比赛时间 research

for all the talk of automation among tax and accounting practitioners, they are still falling behind, even as other professions race ahead.

more in tech: microsoft puts the full windows experience in the cloud | survey: how old is your desktop pc? | microsoft acquires cybersecurity firm riskiq | survey: your favorite desktop pc | global fintech funding gains momentum | salt: the small business disaster waiting to happen

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

more than half the work world is embracing automation.

among accountants: it’s less than half, according to a broad new study.
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global fintech funding gains momentum

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fintechs raise $30.79 billion, accounting for $1 out of every $5 raised for startups across industries.

by 卡塔尔世界杯常规比赛时间 research
via insider intelligence

fintechs raised $30.79 billion across 657 deals, a whopping 30% rise on q1, already outpacing all funding raised during the entirety of 2020.

more in tech: microsoft and google go to war | more firms hit in solarwinds attack | survey: how’s your i.t. firewall holding up? | survey: accountants’ favorite anti-virus apps | salt: the small business disaster waiting to happen | hard drives could hold 10x more

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

annual global fintech funding has reached $54.42 billion this year. in q2, fintechs dominated global startup funding in all sectors: one dollar out of every $5 raised in q2 went to a fintech.

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salt: the small business disaster waiting to happen

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more highlights: “tax season from hell.” the pandemic pivot. small business outlook. digitally-powered recovery.

small business salt: 98% of accountants say small businesses are vulnerable to interstate sales tax issues, including 7% who say “none or almost none” are in compliance and 39% who say “most” are not and another 39% saying only “some” are.  (卡塔尔世界杯常规比赛时间 research)

 

by 卡塔尔世界杯常规比赛时间

three years after the notorious “wayfair” decision, accountants say a vast number of small businesses face new and burdensome interstate sales tax measures. but only a few accountants appear ready to help, according to new research by 卡塔尔世界杯常规比赛时间.

more: survey: rough seas ahead for small business

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

most accountants believe that 98 percent of small businesses – virtually all – are failing to fully comply with all the interstate sales tax issues they may be liable for. and yet, about 71 percent of accountants are falling short of handling all their clients’ sales tax issues, with about 12 percent saying they address “most” issues, 36 percent handling “some,” and 24 percent handling none, according to the new study conducted in conjunction with avalara, the tax management software company.

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