accounting services aren’t what you think they are
frank stitely in the 21st century, you had better know the what, why, and for whom, or you won’t be in business for long. the rules of business apply to…
354 search results for stitely
how an out-of-work tax preparer ‘saved’ our lives
always be ready to help others.
by ed mendlowitz
call me before you do anything: the art of accounting
a number of years ago we purchased a practice in late february to get the business clients. however, we had to agree to service the individual tax clients, of whom there were about 180, with each paying a very low fee. the seller did not want to hang up his longtime clients.
more: getting by giving back | how to be ’the other guy’s accountant’ | why we ‘kill’ to get partnership returns out quickly | my first thought is to never turn down business | the background to saving a business
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we had just moved the files into our office and were really concerned about how we could get the returns done without totally straining our system when lenny called asking if we had any per-diem tax season work for him.
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how to be the chief communicator
if you follow this plan, you’ll have the time and reap the benefits.
by frank stitely
the relentless cpa
your role as chief communicator is closely related to your traffic cop role. in the traffic cop role, we covered prodding clients to keep projects moving along, but there is more to client communications than just moving projects along to completion.
more: the tax practice traffic cop | the land mines in tax returns | how to teach reviewing and time management | how to coach your staff | give your people the resources they need | 4 steps to take before next tax season | how to create good managers | 4 tips for managing advanced preparers | 3 tips for handling rookie tax preparers | how to hire and manage great admin staff | the right way to assign staff projects
how many times per day do clients contact you to ask such pressing questions as, “are my dog’s vet bills deductible medical expenses?” the answer is yes, if your vet holds dual dvm and md degrees and your dog is classified as a dependent on your tax return. see irs code section 999, subsection c, paragraph 666.
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the tax practice traffic cop
auto-nagging isn’t always enough.
by frank stitely
the relentless cpa
one of your roles as ceo is chief traffic cop. you keep the flow of returns moving along the information superhighway that is your workflow system. you manage the managers. you remove process bottlenecks. you soothe irritable clients.
more: the land mines in tax returns | how to teach reviewing and time management | 4 steps to take before next tax season | some uncommon advice on hiring full-time staff | what goes into a client project? | the value-pricing con job | the 21st-century cpa firm | ruthlessly efficient workflow management
i live in 15-minute increments during tax season. there are four things i do over and over and over again:
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why scanning procedures matter
cpas’ top picks: fujitsu fi and canon dr.
by roman h. kepczyk
quantum of paperless
for the next few years, it is anticipated that accounting firm clients will continue to deliver a significant amount of their organizers and supporting tax documents to the firm in a physical format. to utilize this information in a paperless environment, it must be effectively scanned and managed at the lowest possible cost.
more: digital tax workflow requires a system, not projects | who deletes documents and when? | capture firm knowledge on an intranet | survey: how many firms back up data to the internet? | the new risks in cloud efficiencies | survey: how many firms use unified messaging? | is it time to update your offsite backups?
early paperless adopters scanned the tax return and the supporting documents at the back end of the process when a return was complete. this is still usually the first step when firms transition from a completely manual environment.
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the land mines in tax returns
data entry errors = public beheadings.
by frank stitely
the relentless cpa
your next role as ceo is reviewer. there are two types of review: primary and secondary.
more: how to teach reviewing and time management | how to coach your staff | how to create good managers | how to hire and manage great admin staff | managing people: the heart of effective project management | tammy’s tale of tax season tardiness | beware the leeches and consultants | the value-pricing con job | the 21st-century cpa firm | ruthlessly efficient workflow management | the annual tax meeting is dead. clients killed it.
depending on the size of your firm, you may only have primary reviews. if your firm consists of you and a preparer, you won’t have a second level of review. i don’t consider the self-review as a review step. i consider it part of preparation.
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do you know your cac number?
how to unravel the real costs to land a new client.
by sandi leyva
do you know how much it costs your business to acquire a new client? in marketing, one of the key metrics is cac, client acquisition cost. so how do you compute it?
if you’re curious to see how your cac compares to other tax and accounting firms, take our survey, and we’ll send you the results.
the first thing is to properly segregate your marketing costs into separate accounts or classifications. often, marketing is hidden among a lot of other accounts:
how to transfer a boomer-owned cpa practice to a millennial
riding the big gray wave.
by brannon poe
the demographic tsunami actually might surprise you. according to pew research, millennials are projected to soon overtake baby boomers as the largest generation. that’s right, they will be the biggest generation in the u.s. and they are almost there.
- boomers – born from 1946 to 1964 – 74 million
- millennials – born from 1982 to 2002 – 71 million
another very important consideration is the declining number of cpas in the profession. the total number of first-time licensed cpas has declined about 20 percent since the 1990s.
it appears that the “greying of the profession” may be more of a function of the number of people who have chosen the profession and those that have decided to get out of public practice altogether.
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tough questions, smart answers 202 questions and answers: managing an accounting practice, the complete 2-volume set
complete two-volume set
by edward mendlowitz, cpa, abv, pfs
with tables, checklists, sample letters, illustrative examples, real-life stories, step-by-step instructions, and appendix.
$199.95 – $299.95 learn more -
the workflow manifesto the relentless cpa
the new 21st-century system for driving success at tax and accounting firms
by frank stitely, cpa, cva
– transform your firm into a profit machine.
– for firms of all sizes
– make more money with less effort.
– work smarter, not harder.
– step-by-step procedures, worksheets, and checklistsfree bonus: the excel workbook that takes you through every step.
$195.95 – $249.95 learn more -
the roadmap for the new firm from success to significance: the radical cpa guide
the practice-proven roadmap to a new business model for cpa firms
by jody padar, cpa, mst
$175.00 – $215.00 learn more
author of the best-selling the radical cpa and
the new! radical pricing – by the radical cpa™ -
imagine a new future the radical cpa
new rules for the future-ready firm
by jody padar, cpa, mst
author of from success to significance: the radical cpa guide and
the new! radical pricing – by the radical cpa™
$149.50 – $195.00 learn more