today's features

chatgpt for the reluctant accountant

two men looking at a computer screen

getting started is fast and easy.

by 卡塔尔世界杯常规比赛时间 research

artificial intelligence has a lot in store for the accounting industry. ai is still in its infancy, but it’s also ready to start helping any cpa firm, even the low-tech solo shop.

more: cpas needed to help small biz adopt ai | revenue growth is top priority for small firms | survey shows that tech remains the great divide | can big data spot financial fraud? | accountants hopeful, concerned and confused about ai | the 7 categories of cybersecurity solutions firms need | research: accounting pros cautiously optimistic about generative ai | how auditors can beat ai
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you can start right now. you don’t need to invest anything other than the few minutes it takes to register to use chatgpt at chat.openai.com. it’s free. you can ask a question, and an astonishingly poignant and detailed answer will appear within seconds.

and there you are, on the cusp of 21st-century technology.
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‘sales’ is not a four-letter word

woman listens as two clients speak

the five steps of the sales cycle and what you need to know.

by august j. aquila
price it right: how to value accounting services

for a long time, the word “sales” was not an accepted word in accounting firms. unfortunately, too many accountants associated sales work with some type of unprofessional and even unethical activity. fortunately, those days are long gone.

more: three pillars support a successful accounting firm | four questions for choosing your marketing audit strategies | four steps to a successful email marketing campaign | five reasons to implement change orders | make your practice better | eleven marketing strategies for smaller firms | five questions for developing your marketing plan | you only have four strategies
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the word “sales” is not a four-letter word; it is a professional activity. people who sell make a promise of some future deliverable: “i will do this and this for you.” in turbulent times, selling is a skill that accountants must learn to be successful. here is my definition of selling: “selling is problem solving.” nothing more and nothing less. it’s what you do every time you help a client with a problem. if you have been a successful new business developer, then you have been a successful salesperson.
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randy crabtree: stress management for overworked accountants

tax chat ’24: how to pause and recharge when you hit the wall in tax season.


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with seth fineberg
for 卡塔尔世界杯常规比赛时间

randy crabtree, perhaps best known as the host of the unique cpa podcast, tells seth fineberg in this episode of tax chat ’24 that tax practitioners can avoid tax-season burnout with just a few simple shifts in their workflows.

more crabtree: follow these 3 rules to keep employees happy

more takeaways:

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the irs is coming! get your clients into compliance

10 million high-income taxpayers targeted.

by eric green

those of us in the know have been saying for a while now that the irs is sending a “wave” of tax notices, and you need to prepare your clients for compliance and, ultimately, remittance and resolution. well, that day has finally come.

the irs is launching its long-awaited effort to crack down on high-income taxpayers who have failed to file tax returns.

more in tax: eight steps to getting started with ai: a guide for tax professionals | what’s your value to your tax clients? | are you excited about tax season? | what the corporate transparency act means for accountants | train now before it costs you down the road | surge pricing: what works for uber could work for cpa firms | uncooperative partner might not be the problem | it’s time to fix the problem of qtips and llcs

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for practitioners, many taxpayers will be scrambling for help from tax professionals.  understanding how to handle these taxpayers when they come in will have a real impact on how painful the re-entry into the tax system is going to be.

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cpas needed to help small biz adopt ai

bar chart
which areas of your business would you expect to be the most and the least affected by artificial intelligence?

 

privacy, intellectual property concern many survey respondents.

by 卡塔尔世界杯常规比赛时间 research

small businesses are getting more comfortable with artificial intelligence, according to a survey-based report from freshbooks.

“small business owners are less convinced that ai is coming for their jobs and/or the jobs of their employees,” the report says, “with two-thirds disagreeing that ai will replace them.”

more: revenue growth is top priority for small firms | survey shows challenges, priorities shifting | survey shows that tech remains the great divide | is the cpa business model the clog in the pipeline? | can big data spot financial fraud? | will unclogging the accounting pro pipeline kill mobility? | accountants bullish on income | 42% of accountants turn away work over staff shortages | accountants hopeful, concerned and confused about ai
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

still, in a bit of a contradiction, 44 percent of owners say they expect to hire fewer people in the future thanks to expected ai capabilities. and the larger the business, the more likely they will use ai to reduce payroll.
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bissett bullet: who are your centers of influence?

today’s bissett bullet: “who is sending new business your way and who isn’t but really ought to be?”

by martin bissett

a “center of influence” is someone who is well known and respected within their community or industry and as a result is a valued and trusted source of referral.

this may be a restaurant owner who knows everybody in the local area because they come through their door on a regular basis, or the head of your local chamber of commerce or networking group.

today’s to-do:

list two or three people who are influential in your local area that you don’t have a relationship with but you should, and get to know them. identify a mutual contact who could make an introduction or a local networking event where you might have an opportunity to speak with them.

see more bissett bullets here

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create a bad website in ten easy steps

you have eight seconds to make a first impression. what kind do you want it to be?

by sandi leyva
the complete guide to marketing for tax & accounting firms

you can indeed get more business, more clients and more profits from your website. but not if you make these common mistakes!

more: eight steps to getting started with ai: a guide for tax professionals | how to weather any economic storm | ten ways to have more energy this tax season | seven steps to keeping your clients forever | give to receive, and eight more ways to boost sales | five things that clients don’t know about accountants | five ways to wow your clients | you’re missing 60% of your revenue | make the most of cpe conferences | beyond compliance: six tips for adding value
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whether creating a new site or updating your existing site, here are some common pitfalls to avoid.

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jason blumer & julie shipp: move leaders out of client service

intentionality can bring freedom and joy.

subscribe to 卡塔尔世界杯常规比赛时间 podcasts anywhere: apple, google, spotify, iheart, deezer, amazon music and audible, player fm, audacy, gaana (india), and boomplay (africa).

the disruptors
with liz farr

when jason blumer and julie shipp joined forces to build blumer cpas more than a decade ago, they eschewed the traditional partnership structure, where decision-making power depends on ownership percentage. instead, blumer says, “we figured out the ownership is a legal reflection of the companies, but they do not reflect anything we do together in our roles.”

more podcasts and videos: james graham: drop the billable hour and you’ll bill morekaren reyburn: fix your marketing and fix your business | giles pearson: fix the staffing crisis by swapping experience for education | jina etienne: practice fearless inclusionbill penczak: stop forcing smart people to do stupid worksandra wiley: staffing problem? check your culture | scott scarano: first, grow people. then firm growth can follow |

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together, they also formed thriveal, a support community for accounting firm owners. blumer is the ceo and visionary for the firm and shipp is the coo and integrator. this separation of ownership from roles allows them both to be, as shipp says, “100% in my role and have 100% the authority of my role.”

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revenue growth is top priority for small firms

bar charts

cost reduction? that’s on the list, too.

by 卡塔尔世界杯常规比赛时间 research

as in years past, cpa firms of all sizes are putting revenue growth at the top of their priority lists.

the rest of their priority lists tells how they plan to get there.

more: survey shows challenges, priorities shifting | survey shows that tech remains the great divide | will unclogging the accounting pro pipeline kill mobility? | accountants bullish on income | survey: which niche’s the best niche? | ethics on sustainability puzzle some accountants | accountants hopeful, concerned and confused about ai
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according to the wolters kluwer 2024 accounting industry report, 61 percent of responding firms – 90 percent of which are small firms – are primarily aiming at higher revenues and profits. that’s 11 percentage points above secondary goals.
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the convergence of trends makes pricing changes imperative

kill the billable hour to earn what you deserve.

by jody padar
the radical cpa

the speed of change is faster than ever. how are you going to react to it? that’s what i’m really preparing you for – redesigning your entire business model to become a more client-centric advisor. value-based pricing models are the key component but not the whole story.

more: stop looking for talent that does not exist | advisory work must be priced by value, not hours
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today’s automation, new competitors, staffing challenges and new technologies are conspiring to bring clients more value than they could have enjoyed before. all of it is shifting the way you need to think about your services, what clients value and how you get paid fairly for the expertise you bring to the table.
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ten tax prep questions that people forget to ask

drawing of unhappy face and arrow pointing from it to happy face

your clients will appreciate the attention to detail.

by ed mendlowitz
tax season opportunity guide

many professionals fail to systematically ask clients some basic and important questions. here’s my top 10 list of key questions to ask this year. what would you add?

more on tax season: try this clean slate exercise | offer your tax clients other services | can your tax reviewers answer these 10 questions? | the top 12 mistakes in tax return preparation | six types of person: which are you? | answer these two questions first | help your tax clients, help yourself | what’s your value to your tax clients? | are you excited about tax season?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

1. foreign bank accounts: make certain you ask every client if they have a foreign account and if they do, report the income and file the proper forms. the penalties are too great if it is wrong.

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after you check your cybersecurity, help others

make it a client service option.

by penny breslin
it’s not just the numbers

in 2020, like many businesses, we went remote. my remote team of excellent ladies in chennai, india, had to go even more remote than they already were. when india shut down, i figured i was out of business. we promise our cybersecurity is job number one to our accounting and financial firms. we have a highly controlled work environment, except for the day care and under 3’s occasionally looking for mum. i did not think sending our employees home would work.

more: cover these five areas of information security | let tech make communication easier | how to assess needs for a client proposal | best practices for source doc permissions and handling | every back office support client needs a playbook | creating a back office support playbook | strengthen client ties with workflow tools | understand your online marketing options | narrow your prospects by choosing a vertical | build your team, then choose your clients | how back office support adds value | ai is not your enemy
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but thank the universe, many of our clients had no problem as long as we could figure out the security. they had been working with the same team of ladies. they saw them on zoom and communicated daily on slack. so, in 48 hours we went through an internal change to allow that to happen.
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be clear about your roi proposition

woman's hand pressing words "ask an expert"

consider what the next generation of practice leaders faces.

by martin bissett
passport to partnership

the passport to partnership study collated a number of responses in a conversational style. the need for professionals who can remain calm in the storm is showcased below and was repeated many times in various different ways.

more: keep business development going during busy season | health, wealth, stealth: challenges on the path to partnership | don’t let recurring fees kill your practice | rate your personal purpose | five ways to make selling easier | six keys to getting a proposal accepted | tell the world your worth | four surprising keys to communication | culture can’t be ignored
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the expert council

what is going to be the single biggest challenge for the next generation of practice leaders?
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