today's features
outlook & analysis

five ways to fill the staffing gap

bar chart

it takes more than moolah.

by 卡塔尔世界杯常规比赛时间 research

the 2025 卡塔尔世界杯常规比赛时间 busy barometer is finding that the talent shortage is one of the accounting industry’s primary concerns, and the wolters kluwer future ready accountant report confirms that the shortage of accounting professionals is expected to be a top issue over the next five years.

more: show us the money! accountants are making more | twelve years and out: seasoned accountants join the exodus | how accounting firms are handling the staff shortage
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the shortage is global, the wolters kluwer report says. around the world, 35 to 40 percent of firms identify recruitment and retention as their biggest challenge.
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pro member exclusive

tear down towers of knowledge to transform accounting

why sharing beats hoarding.

by donny c. shimamoto

series note: this post is part of a series inspired by “joy, inc.”, written by richard sheridan, cofounder and ceo of menlo innovations. while his book is about the software industry, there are many direct analogies applicable to the accounting industry. we must #transformaccounting and bring joy back into the work we do to sustainably address our industry’s people crisis.

a “tower of knowledge” (“tower”) is a person on your team who has vast technical knowledge that no one else has. this knowledge could be about a client or about the project itself. this person is often seen as the center of the team or as a key person who holds the project together.

more by donny shimamoto
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for high achievers – which many accountants are – this probably sounds like a good thing. being a tower of knowledge reinforces our worth and makes us feel important. “yes, i’m critical to this project. yes, the team needs me. yes, i know a lot. yes, i am important.” yes, being a tower can be very validating and make us feel good.
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mergers & acquisitions

how private equity is impacting accounting

and how these deals compare to traditional cpa firm deals.

by marc rosenberg
the rosenberg practice management library

one of the biggest game changers in the cpa profession since the dawn of the 21st century has been the introduction of private equity in merger transactions.

more by marc rosenberg
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prior to roughly 2020, 99 percent of all cpa firm mergers were between two cpa firms. an early exception was the “consolidator” phase of the cpa industry from the mid-1990s through the early 2000s. this is when three companies, the consolidators – american express, h&r block and cbiz – acquired a few hundred cpa firms, spawning the creation of alternative practice structures. because cpa firms must be majority owned by cpas, this new structure featured the attest function spun off as a separate but related entity, owned primarily by cpas while the remainder of the firm was owned primarily by the consolidators.
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marketing & sales

bissett bullet: sit on the other side of the table

today’s bissett bullet: “when i prepare training material, presentations or videos, i always do so from the same perspective. what does it feel like to be on the receiving end of them? will the person who will be listening, reading or watching get what they need from it and want to come back for more?”

by martin bissett

you need to do the same thing when you prepare for a meeting with a prospective client. take a moment to sit on the other side of the table and ask yourself what they need to get from their time with you.

today’s to-do:

look at your diary. find your next meeting with a potential client and make some notes. why have they agreed to the meeting, what do they want to get from it and what will they do after you leave? prepare for the meeting from their point of view.

see more bissett bullets here

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accounting arc

demystifying governance | arc

from state societies to the aicpa, the hosts shed light on the collaborative ecosystem guiding cpas. 

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accounting arc
with liz mason, byron patrick, and donny shimamoto.
center for accounting transformation

the accounting profession operates within a complex framework of governance, where state and national organizations play critical roles in shaping standards, supporting professionals, and maintaining public trust. in a recent episode of accounting arc, donny shimamoto, cpa.citp, cgma; byron patrick, cpa.citp, cgma; and liz mason, cpa, dive deep into the often misunderstood relationships between state societies, boards of accountancy, and national entities like the aicpa and nasba. their discussion offers a candid look at how these organizations work together to regulate, educate, and advocate for cpas, while highlighting the importance of participation at every level. 

more arc: analysis, reaction, comedy

 

more accounting arc: top 10 red flags to watch for in accounting offices | jeremy dubow: private equity as a catalyst for growth | break the burnout cycle in accounting | accounting in transition: 2024 reflections & the road ahead | ron baker: visions for the accounting profession | angie grissom: next gen inspo for accountants | does accounting belong in stem? | rose wang: where numbers meet strategy and creativity | tiktok fraud exposes gaps in financial literacy | how accounting pros own the stage in public speaking | greg kyte: being a cpa is like being the marie kondo of numbers | rachel bashore: a lawyer’s case for reinventing accounting | beyond the basics in ethics eduction | bailey lenart: from ledger sheets to transformational change | election tax plans: what cpas need to know |

“many see state societies as just cpe organizers, but they’re also advocacy powerhouses,” explains patrick, ceo of verifyiq and co-founder of tb academy, who details maryland’s proactive society. state societies also facilitate specialized communities and foster advocacy efforts on behalf of cpas. 

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outlook & analysis

tax pros gear up for a better busy season

survey respondents say the new year means new plans.

by 卡塔尔世界杯常规比赛时间 research

it’s shaping up to be a pretty good year, according to early results from the 2025 busy season barometer. half expect a year better than last year’s good year, and less than 10 percent think it will be worse.

more: irs funding pays eye-popping 415x roi | tax season 2025 begins. ready or not. | every tax reviewer should be able to answer these ten questions | art werner: corporate transparency act and fincen reporting | quick tax tip | taxpayer advocate sees big improvements at irs | ask tax clients the right questions | major changes to circular 230: implications for tax professionals | cornerstone report
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why?

  • the market’s in a good place. plenty of clients out there.
  • so far (fingers crossed) no big changes to the tax code.
  • no pandemic quarantines (more fingers crossed).
  • the economy’s chugging right along (keep them crossed).

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charts & graphs

irs processing up; payouts down

data table

figures for 2024 topped those of 2023 until it came to refunds.

by beth bellor

as the 2025 busy season kicks off and we wait for the first individual income tax return reports to trickle in, let’s take a peek at how the last drips of 2024 compared to the dregs of 2023.

more: tax pros are making changes for a better busy season | irs funding pays eye-popping 415x roi | tax season 2025 begins. ready or not. | every tax reviewer should be able to answer these ten questions | art werner: corporate transparency act and fincen reporting | taxpayer advocate sees big improvements at irs | ask tax clients the right questions | major changes to circular 230: implications for tax professionals | cornerstone report | art werner: due diligence and irs enforcement | make ‘done but’ tax returns a thing of the past | six methods for getting paid faster this tax season | use humor to get tax documents in early
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

by the end of 2024, the internal revenue service had received 163.5 million returns, up 0.9 percent from the end of 2023. it had processed 163.5 million returns, up 0.3 percent, which included returns received in the prior or current year and processed in the calendar year.
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pricing, fees & billing rates

how to structure agreements for value pricing

latina woman working on laptop

plus how to automate getting paid.

by jody padar
radical pricing – by the radical cpa

a well-structured agreement can make or break an engagement. we see this happen every day.

were you a fan of the television show “two and a half men”? remember when charlie sheen was fired? he ended up suing for what he thought he was owed for the remainder of his contract. and, surprisingly, there was not a comprehensive agreement detailing the terms. no one likely thought sheen would end his run on the show in this manner and didn’t plan for it.

more by jody padar
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a similar scenario could happen to you, albeit with fewer global headlines i suppose. that’s why, once your client is ready to start working with you on a value basis, you’ll need to create a contract to finalize the deal.

there are two main agreements used by accountants today – the engagement letter and the service-level agreement. both are legally binding but look a bit different.
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busy season management

help tax clients help you

eleven steps to better instructions.

by ed mendlowitz
tax season opportunity guide

providing instructions of what a client needs to do must be clear enough so that the client doesn’t call you to find out what to do.

more: is your team ready for tax season? | six methods for getting paid faster this tax season
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sometimes taking an extra minute to lay out what the client should do can eliminate that call or indecisive moment a client might feel.
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featured video

art werner: beneficial ownership and control | quick tax tip

learn how a 1% owner can wield more power than a 99% shareholder under specific agreements.

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quick tax tip
with art werner
cpe today

in today’s complex regulatory environment, the term “beneficial ownership” might sound straightforward, but it encompasses far more than simply owning shares in a company. a beneficial owner holds a controlling interest in a business entity. this control might be linked to shared ownership, but it can also extend to individuals who influence decisions in other ways.

click here for more art werner

for example, under the corporate transparency act, anyone owning 25% or more of a company is generally considered a beneficial owner. however, there are important exceptions that expand this definition.

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busy season management

four challenges of managing new tax preparers

… and three tips to make it easier.

by frank stitely
the relentless cpa

how do you train up newly hired tax preparers?

hint: don’t start with taxes.

more by frank stitely
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having standardized processes is key. teaching processes is much easier than teaching tax return preparation. learning your processes teaches tax return preparation if your processes are well defined. much of tax preparation is data entry-oriented. then you teach the variations.
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featured video

roger knecht: can you be an accountrepreneur? | the disruptors

you don’t need all the answers, but you do need to ask the right questions.

this is a preview. the complete 1-hour video episode, with commentary and transcript, is first available exclusively to pro members | go pro here

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the disruptors
with liz farr

about ten years ago, roger knecht, president of universal accounting, noticed that while accountants wanted to move into the advisory space, few had any idea how to make that transition. so he talked to business owners about what they’d like to see and developed a curriculum to help accountants develop those skills. “it’s game-changing,” knecht says, “because once you have the confidence as well as the competence to deliver cfo and advisory services, the world is your oyster bed.”

more podcasts and videos: beth whitworth: focus on outcomes not hours | mike sylvester: learn to say no | salim omar: identify your client’s $100,000 problem | jackie meyer: earn more with fewer clients | jack fleherty: don’t be a ‘yes’ person | greg adams: from finance to storytelling | the disruptors | jody padar: make radical changes now if you want to be relevant in 2030 | rebecca driscoll: amplify reach by helping other firm owners | rory henry: create the return on relationships | mike maksymiw: be the leader you wish you had | terrell turner: build a solid business showing up as yourself | kelly mann: be the bull in the china shop | alicia katz pollock: create a human-centric business |  nancy mcclelland: be the one your clients ask first |alan whitman: stop accepting the status quo | sean duncan: discover your own genius | ingrid edstrom: true wealth is not financial |

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as more accountants and bookkeepers move beyond compliance work into tax advising and planning, cash flow management, and cfo services, they can do work that knecht says is more fun and creative. “i think it moves the needle for our clients a lot more when we’re able to give them those insights and perspectives to run their businesses more profitably,” knecht says.

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audit & assurance

six questions to ask before innovating

man with hand on chin, looking at computer screen

hint: jumping in with technology is not the solution.

by alan anderson, cpa
transforming audit for the future

“if i had an hour to solve a problem, i’d spend 55 minutes thinking about the problem and five minutes thinking about solutions.” – albert einstein

innovation means doing things differently and doing different things. but what does that mean in practice?

more by alan anderson
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i see audit firms around the country who set up “innovation teams,” or appoint someone to be the chief of innovation. the problem is that if these are home-grown teams, or if no one on the team has ever had any experience working with anything other than a traditional audit firm, at best, their efforts will be like moving around deck chairs. many of these chiefs of innovation don’t have an innovative bone in their bodies, and they don’t know what they don’t know. all they know is the old way of doing things.
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