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raise your rates to change your clientele

portrait of loren fogelman
fogelman
 loren fogelman, founder of business success solution, is an expert in pricing strategy and sales for accounting firms. a sought-after keynote speaker, she is continually listed among america’s top-ranked business coaches.

the fees you charge make a statement about your firm.

by loren fogelman
the holistic guide to wealth management

setting your fees appropriately is one of the primary challenges that accounting professionals face. according to mckinsey, 80 to 90 percent of services are priced too low. throughout my career, i too have found that most firm owners don’t know how much to charge for their services – and too often they undercharge.

more: pursue excellence to win the battle for talent | leverage ai to grow and protect revenue: six steps | how wealthtech is reshaping the future of holistic advice | seven tech keys to a holistic service model | four ways to provide wealth management in your accounting practice | profile of a modern firm: putting the vision into practice | toward a 21st-century cpa: a dynamic vision | what multiples mean to accounting firms
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many firm owners tell me that setting fees can feel like tiptoeing through a pricing minefield. and pricing shouldn’t be taken lightly. this is especially true for wealth management services. the prices you set today will impact your firm’s profit margin as well as your growth for years to come.
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leadership

five ways to head off reluctant leadership

two women talking while seated at a table

focus on the results and behaviors, letting go of “how.”

by tamera loerzel

partners often tell us that one of their number one succession concerns is wondering who will ascend to partner. the perception is that “there is no one interested in becoming a partner these days.”

more: you need capable successors for a seamless transition | generosity: the root of great leadership
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yet, when we talk to managers and senior managers (and even staff!), they are interested, but they don’t really know what it means to be a partner. they are also concerned that they would have to be a clone of the current partner(s) – and they’re not, nor do they want to be!
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management

twelve nuggets of advice for the new managing partner

seated man wearing suit looking straight ahead

plus some thoughts on compensation.

by marc rosenberg
the rosenberg practice management library

in an ideal world, a new managing partner will have been groomed and mentored by the existing managing partner for two or three years. a great way to do this is by executive committee participation. but alas, many things at firms under $30 million are not ideal. unfortunately, we have seen many firms anoint their new managing partner with relatively little training and mentoring.

more by marc rosenberg
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so, our first piece of advice is to provide for a two- or three-year process of gradual transition from the current to the new managing partner. regardless of the effectiveness of the transition period, here is advice that we always give to prospective managing partners:
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advisory & consulting

artificial intelligence may go vertical first

how cas could be affected.

by 卡塔尔世界杯常规比赛时间 research

artificial intelligence is just beginning to impact, embolden and facilitate the accounting industry, but it still has a long way to go.

but make no mistake: it’s going and it’s going to get there.

more: america’s running short of financial advisors | maybe the pipeline problem is technology | five ways to fill the staffing gap | cfos see ai as top risk and opportunity | does accounting belong in stem? | accounting arc | artificial intelligence may already be plateauing | twelve years and out: seasoned accountants join the exodus | gen ai in accounting: epic transformation, or overheated hype?
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the big question of the moment is what path ai will follow as it becomes pervasive in the accounting industry.
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featured video

becky livingston: use ai to boost marketing & client engagement | gear up for growth

level up thought leadership and advisory services.

sponsored by “turbocharge your profits: how to thrive in the new economy,” by frank stitely, cpa, cva  – see today’s special offer

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

the latest episode of gear up for growth, hosted by jean caragher of capstone marketing and powered by 卡塔尔世界杯常规比赛时间, featured an insightful discussion with becky livingston, founder and ceo of penheel marketing, on the role of artificial intelligence (ai) in cpa firm marketing. the conversation centered around two key takeaways: ai’s ability to enhance thought leadership efforts and its role in shifting cpas toward more strategic client advisory services.

download becky livingston’s free ai marketing tool guide here

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 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

marketing research shows that high-growth cpa firms prioritize thought leadership through blogging, white papers, and public speaking. ai tools such as chatgpt, perplexity, and jasper are revolutionizing this space by enabling firms to generate high-quality content efficiently. these tools allow cpas to personalize content for niche audiences, optimize seo strategies beyond traditional search engines, and streamline content creation to maintain a consistent and authoritative online presence.

read more →

politics & government

why chaos at the irs spells new work for tax professionals

the three key irs tools every pro must learn today.

by eric l. green, llm

between all of the back-and-forth between doge and the irs, not to mention travel and credit line reductions, it raises questions about what exactly the fate of the irs will be.

more: the irs tidal wave is here | s corp clients beware | four ways to handle federal tax liens | the irs is coming! get your clients into compliance | tax chat: eric green reveals the tax rep guide to tax season | what i wish clients knew about tax liens | tax: explaining the bad news about canceled debt to clients | offers in compromise aren’t for everyone
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

in fact, the latest announcement is to cut the irs by 50 percent by the end of 2025. so, if you are wondering just what the heck the game plan is, you are not alone. after speaking with close colleagues inside the irs, i can say it is basically chaos at the moment.

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advisory & consulting

big growth coming for client advisory services

bar chart

 

but firms must prepare for it.

by 卡塔尔世界杯常规比赛时间 research

firms committed to client advisory services are projecting a median growth rate of 99 percent over the next three years, according a benchmark survey issued by the american institute of cpas.

more: america’s running short of financial advisors | maybe the pipeline problem is technology | what if the staffing shortage is just a myth? | staffing, tech, prices top tax pros’ concerns | five ways to fill the staffing gap | top 10 red flags to watch for in accounting offices | arc | deals 2024: over 100 cpa firm mergers and acquisitions | barry melancon: private equity and the partnership | gear up for growth | cfos see ai as top risk and opportunity | artificial intelligence may already be plateauing | ten ways to manage price increases
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yes, 99 percent. and yes, that’s a median. half of the 206 participating firms expect to grow faster than that.

the survey lays out seven insights and conclusions plus commentary and suggestions for cpa firms.
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client accounting services

is it time to outsource?

businessman holding up magnifying glass

twelve ways to tell.

by hitendra patil
client accounting services: the definitive success guide

when you are the key person to make things happen at your firm, you want to invest as much time in “business development” (not just marketing and sales) as humanly possible. your firm’s growth will make you feel that producing and delivering your services is an essential core business function for you, but some of it is not. freeing up yourself to spend more time focusing on the things that add value to your practice, and help set it apart from the competition is an essential differentiating growth strategy you will ever deploy. the same principle applies to your experienced, talented staff.

more by hitendra patil
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you will build your client accounting services practice on newer, cloud, collaborative technologies. it will help you automate many routine functions and optimize your operating costs. but you still need competent people to manage, nurture and strengthen your client services and advisory functions.
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accounting arc

is agentic ai a game changer or game ender? | arc

“we’ve underestimated how quickly ai is changing our profession.” 

sponsored by “turbocharge your profits: how to thrive in the new economy,” by frank stitely, cpa, cva  – see today’s special offer

click to subscribe anywhere: apple, google/youtube, spotify, iheart, deezer, amazon music and audible, player fm, audacy, gaana (india), boomplay (africa), or rss.

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

more arc: analysis, reaction, comedy

in a world where artificial intelligence is rapidly evolving, agentic ai is emerging as a powerful tool that could redefine the accounting profession. unlike traditional ai applications, agentic ai doesn’t just respond to prompts—it actively coordinates multiple ai models to complete complex workflows. but is this a breakthrough for efficiency, or does it pose risks for the industry? 

more accounting arc: kelly mann: thriving against all odds | are we ready for the hidden risks of ai in accounting? | the research imperative: why data drives accounting success | how coaching can unlock professional success | demystifying accounting governance |  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 education

in a recent episode of accounting arc, hosts byron patrick, cpa.citp, cgma; donny shimamoto, cpa.citp, cgma; and liz mason, cpa, break down the meaning, potential, and risks of agentic ai in accounting. 

read more →

pricing, fees & billing rates

seven musts for a client-centric firm

woman points to laptop to explain something to a female client

right pricing for the right clients.

by jody padar
radical pricing – by the radical cpa

being client-centric means putting your client first. but holding on to the billable hour puts time before your client’s interests every day.

more by jody padar
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to be truly client-centric, you must prioritize the needs of your clients and deliver the products and services they want. while the traditional firm focuses on the timesheet, a client-centric firm focuses on keeping the client happy because a happy client means happy profits.
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charts & graphs

tax refund totals up 7%

data table

individual amounts are up 5 percent.

by beth bellor

winter is fading away but busy season remains with us.

more: tax pros handle 46% of e-filings | tax refund totals up 10% | tax refunds plummet, but no worries | tax refunds up 18% early on | first tax filing reports are in
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as of march 7, the latest data available, the internal revenue service had received 61.4 million individual income tax returns, down 2.1 percent from the same period one year ago. it had processed 60.8 million returns, down 1.8 percent.
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featured video

art werner: maximize retirement for 2025 | quick tax tip

retirement planning isn’t just about saving – it’s about strategy.

sponsored by “turbocharge your profits: how to thrive in the new economy,” by frank stitely, cpa, cva  – see today’s special offer

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quick tax tip
with art werner
cpe today

with tax laws constantly evolving, finding the right balance between financial planning, tax reduction, and compliance with the internal revenue code can feel like a moving target. fortunately, powerful opportunities are available in 2025 to maximize your retirement savings while minimizing your tax burden.

click here for more art werner

for instance, contribution limits to 401(k)s have significantly increased. in 2025, you can contribute up to $23,500; if you’re 50 or older, you can add an extra $7,000 in catch-up contributions. that’s a major opportunity to secure your financial future while reducing your taxable income today.

but should you contribute to a roth 401(k), a traditional 401(k), or other savings account?

read more →