today's features
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
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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.

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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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listicle

ten most common causes of irs audits | listicle

//www.g005e.com/category/checklist/listicle/by 卡塔尔世界杯常规比赛时间 research

a new survey finds that a majority of americans would rather get mugged than audited by the irs.

here are the 10 most common red flags that lead to audits.

raising red flags increases the risk of an irs audit, which no client wants. taking dubious deductions isn’t worth the risk. clients need to be reminded to report all income and deductions accurately and keep good, detailed, organized records.

 

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featured video

katie tolin: what’s the market telling us? | capstone conversations

understanding the story behind the data is critical to success.

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capstone conversations
by jean caragher
for 卡塔尔世界杯常规比赛时间

katie tolin, a veteran marketing strategist and the driving force behind cpa growth guides, recently sat down for a capstone conversation to share her expertise on navigating the complexities of marketing in the accounting industry. tolin, a decorated member of the association for accounting marketing (aam) and its volunteer of the year for 2023, offeres a candid exploration of current industry trends and the pivotal role of marketing in cpa firms.

follow jean caragher on 卡塔尔世界杯常规比赛时间 here. | get her best-selling handbook, the 90-day marketing plan for cpa firms, here | catch jean caragher’s other show, gear up for growth, on fridays here. | and browse all the shows in the 卡塔尔世界杯常规比赛时间 broadcast network here

tolin identifies the rapidly changing accounting landscape as the greatest challenge facing marketers today. from private equity’s entry into the industry to the emergence of alternative firm structures that don’t rely on traditional cpa models, tolin notes that uncertainty reigns.

“marketers must understand these shifts and anticipate their impact on our firms,” she explains. “whether it’s technology reshaping our strategies or new competitors entering the field, staying informed and adaptive is essential.”

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politics & government

irs funding pays eye-popping 415x roi

from a business perspective, funding the irs is an excellent investment.

by 卡塔尔世界杯常规比赛时间 research

the internal revenue service’s taxpayer services and business systems modernization accounts got short shrift in the big-time funding provided by the inflation reduction act. but still, the combined total of $8 billion they got has gone a long way to improve the taxpayer experience.

more: 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 | 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 | art werner: busy season predictions
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here’s the breakdown of the original account allocations at the irs:

  • enforcement: $45.6 billion, 58 percent of the total
  • operations support (e.g., rent, phones, paper, etc.) $25.3 billion, 32 percent of the total
  • business systems modernization (including tech upgrades): $4.8 billion, 6 percent of the total
  • taxpayer services: $3.2 billion, or 4 percent of the total

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advisory & consulting

profile of a modern firm: putting the vision into practice

maksymiw
 michael maksymiw, cpa cgma msa, is executive director, aprio firm alliance at aprio. he connects growing firms with resources to advance client relationships and provides access to subject matter experts in specialties that fall outside a firm’s wheelhouse. he holds a master of science in accounting from university of connecticut.

three ways an integrated model helps attract talent.

by michael maksymiw, cpa cgma msa
the holistic guide to wealth management

a successful future firm has an abundance mindset and an adaptable leadership style. the abundance mindset is based on the belief that there is enough work for everyone. that means the firm can focus on what it wants to – it can pick its niche. and the firm will utilize its network of other firms who think similarly to completely service the client.

more: toward a 21st-century cpa: a dynamic vision | what multiples mean to accounting firms | tsunami of m&a, pe is disrupting the accounting profession | why cpas are best positioned to become financial advisors | how wealth management has evolved | introducing you to a fulfilling return on relationships | rory henry upends the traditional accounting firm | why now is the time for cpas to embrace wealth management
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a generalist who tries to do everything for a client is the old model. a specialist who finds other specialists to ensure the client has the best team around them for their success is the model of the future.
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client accounting services

tell clients the cost of saying no to cas

it’s an upgrade pitch, so they have to see the value.

by hitendra patil
client accounting services: the definitive success guide

when you pitch client accounting services to your existing clients and new prospects, your communication and messaging changes quite a lot. it is no more packages, hourly rates and standard deliverables mentioned on your website, in your emails, engagement letters and sales brochures/materials.

more by hitendra patil
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cas is not a sales pitch to your existing clients. it is a value pitch, an upgrade pitch.

you need to show them, measurably, what they are currently spending to get the end-to-end accounting done, including overhead, review and management cost, the opportunity cost of losing core business focus while attending to the accounting processes, etc. then compare that with the total cost of your cas offering. ensure to explain the distinct cas advantages that you will deliver when you do their work with professional accounting processes and experience.
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gear up for growth

jennifer harrity: esg unlocks opportunities | gear up for growth

uncover how regulations, investor demands, and market expectations are driving organizations to embrace sustainable practices.

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gear up for growth
with jean caragher
for 卡塔尔世界杯常规比赛时间

in a world where sustainability is increasingly critical, environmental, social, and governance (esg) has emerged as a vital component of the accounting profession—described as the “fourth leg” of the accounting stool, alongside tax, audit, and consulting. esg integrates sustainability metrics with financial data, offering a holistic view of an organization’s health and strategic opportunities.

gear up for growth spotlights the best strategies for smart and efficient growth in today’s competitive landscape. more gear up for growth every friday here | more capstone conversations with jean caragher every monday | more jean caragher here | get her best-selling handbook, the 90-day marketing plan for cpa firms, here | more 卡塔尔世界杯常规比赛时间 videos and podcasts here

“esg is about measuring and quantifying sustainability-related data and aligning it with financial metrics,” explains jennifer harrity, esg and sustainability director for sensiba. “this approach not only provides a clearer picture of an organization’s health but also identifies strategic opportunities for growth.”

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