bissett bullet: are you their most trusted advisor?
today’s bissett bullet: “be your client’s first, last and ultimate line of defense in making sure that their business and personal aspirations come to fruition.”
by martin bissett
today's features
thirteen traits of partners you’ll want to keep
choose wisely from the start and avoid problems later.
by marc rosenberg
the rosenberg practice management library
what characteristics do you want someone to possess before you invite them to be a partner?
leading firms across the country generally choose from the following:
amber setter: coaching helps resolve the tension between safety and purpose
safety’s knowing you can pay the bills. purpose is knowing there’s something more.
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
amber setter, the chief enlightenment officer for conscious public accountants, started out as a type a overachiever cpa, but after a few busy seasons, she realized that she “didn’t want to be an accountant anymore.”
more podcasts and videos: blumer cpas: move leaders out of client service | james graham: drop the billable hour and you’ll bill more | karen reyburn: fix your marketing and fix your business | giles pearson: fix the staffing crisis by swapping experience for education | jina etienne: practice fearless inclusion | bill penczak: stop forcing smart people to do stupid work | sandra wiley: staffing problem? check your culture | scott scarano: first, grow people. then firm growth can follow | jody padar: build a practice that works for you, not vice-versa | ira rosenbloom: with m&a, nobody wants a fixer-upper | peter margaritis: the power skills every accountant needs | joe montgomery: find the sweet spot of the right clients, right services and right prices | marie green: your bad apples are ruining you | megan genest tarnow: hire for curiosity rather than compliance |
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today she’s an executive leadership coach for accountants, helping them transform their lives and careers.
stop looking for talent that does not exist
change processes to pivot from people problems.
by jody padar
the radical cpa
if you’ve posted a job for an accountant in the past few years, you know people are hard to come by. the number of responses you received was likely down if you were lucky enough to find any at all.
more: advisory work must be priced by value, not hours | how hard do you work to keep your clients? | four things to know about social media | internal communications are underrated | four things better than a company song | let’s lose the word ‘image’ | the risk in not understanding risk | what your marketing program can and can’t do | nine reasons that prospects say yes | how marketing evolved to 3.0
according to a recent aicpa trends report, the number of people graduating with a bachelor’s degree in accounting is down, and we’ve seen a steady decline since 2015. all this while half of u.s. cpa firms have increased the number of new graduates they want to hire. a lot of us are looking for staff that simply does not exist.
try this clean slate exercise
spend a few minutes today to check your course.
by ed mendlowitz
tax season opportunity guide
we all get caught up with what we do. sometimes so much that we lose sight of what we are doing and the purpose.
more on tax season: 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?
also, work happens. many of us start out with lofty plans that go astray as the practice develops. many things cause it – clients we get, availability or lack of availability of the right staff, how we choose to learn or not learn new things, and even where we locate.
read more →
keep business development going during busy season
consistency is key.
by martin bissett
business development on a budget
you may be asking yourself how you will know when you are successful in your selling efforts. many people have asked me that, but it’s the wrong question because firms have different goals.
more: health, wealth, stealth: challenges on the path to partnership | it’s time to prepare the next generation | who are you more committed to, your firm or your clients? | nine checkpoints before every prospect meeting | three questions about conversion | six keys to turning prospects into clients | don’t overlook internal communication | four reasons people struggle with communication | why firm culture matters for partners | competence is step one of seven | three things that rich accountants do
some want to simply tick over and replace the clients they lose, some want to grow exponentially, some want steady and consistent growth they can measure and monitor. so there is no one definition of success. but no matter what yours is, you will never attain it if you are inconsistent in your process of winning new business.
read more →
one state is now america’s clean energy paradise
if going green is your thing, you may want to move to this state.
by rick richardson
technology this week
americans don’t have to imagine living in a nation where one in three people has rooftop solar power, 15 percent of new cars are electric, and massive batteries store energy after the sun sets.
all they need to do is visit hawaii.
more: microsoft moves further into nuclear development with new director | nuclear battery could keep your future phone running for 50 years | mit tests new ingestible vital signs sensor | major websites blocking content from ai crawlers | electronic skin that can sense touch will transform robotics | four of today’s new technologies that will be tomorrow’s ‘norm’
hawaii promised to be “coal-free by ’23,” and in just 21 years, state law requires the use of only clean energy. this month, a massive 185-megawatt battery near honolulu hummed into full operation, bringing the aim closer to reality.
tax chat: eric green reveals the tax rep guide to tax season
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seth fineberg
with eric green
renowned tax attorney eric l. green delivers a roadmap for seizing tax resolution opportunities this tax season in the new video from last week’s first tax chat of the year, hosted by seth fineberg.
more tax season: ftc nails turbotax for ‘free filing’ scam | | offer your tax clients other services | higher fees to start: ten ways to make your tax season better | tax pros handle 37.7% of e-filings | if only the irs’s tax pro were useful | can your tax reviewers answer these 10 questions? | tax pros file 33% of early returns | can’t irs online accounts be more useful?
in this live webinar, attendees – and now you – get the fundamentals for catching lucrative tax rep engagements without adding to busy season workloads. with live, real-time q&a, everyone’s questions got answered.
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four basic understandings every auditor must master
make your audits more relevant and provide value-added insights and services to your clients.
by alan anderson, cpa
transforming audit for the future
the question professionals should always ask is, “are we leaving the profession better than we found it?” so, let’s ask: are we leaving the audit profession in better shape than it was when we inherited it?
more: put the ethics code to work for your clients and your firm | turning audit & accounting into assurance & advisory | wanted: great audit mentors | is audit in crisis because of definitions? | stop sending the wrong message to audit teams | closing the audit expectations gap
right now, we’re not providing value, but i honestly believe it’s not too late. the future of audit is ours to create or a future that will happen to us, and not necessarily a future we would prefer.
it will take leadership to change the future of audits. we have to take ownership of the process.
refunds up as tax pros tackle 41.5% of e-filings
* total refunds issued represent returns received and processed in 2024 – the current year only. the number of direct deposit refunds represents returns received in the current and prior year but processed in 2024.
also: the irs realizes a footnote is in order and we are shocked.
by beth bellor
average tax refunds are on the rise, so the weekly filing data has one uptick besides the amount of traffic to the irs website – an increase that perhaps isn’t a positive.
more: tax pros handle 37.7% of e-filings | tax pros file 33% of early returns
the internal revenue service had received 34.7 million returns, down 5.7 percent from the same period one year ago, as of the week ending feb. 16, the latest data available. lower numbers are no surprise, of course, because there had been only 19 days in the 2024 filing season, which opened jan. 29, compared to the 26 days there had been in the 2023 season, which opened jan. 23.
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how to start providing family office services
including a sample engagement letter.
by ed mendlowitz
202 questions and answers: managing an accounting practice
question: some of my clients are getting older and are becoming unable to handle their own financial affairs and i have been asked if i could assist them. what is involved and how do i charge for it?
more: higher fees to start: ten ways to make your tax season better | nine tips for a healthier tax season | fifteen strategies for first-time supervisors | measure knowledge gaps (then close them) | should you offer financial services? | ready to retire? selling your practice is no strategy | 20 things you need for a business valuation
response: many large firms provide “family office” services. this is a complete one-stop financial service that helps clients manage their money, pay their bills, collect their dividends and interest, and make sure insurance isn’t cancelled, mortgage, car lease or condo fee payments aren’t skipped, and tax payments paid on time.
following is a sample engagement letter that i use with clients needing such services. also, this letter provides a detailed description of what the service involves.
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why would anyone become a cpa?
the competition between cpas and non-cpas is about to get more aggressive.
with steven sacks
the new fundamentals: thriving in disruption
the cpa profession, or just plain old accounting profession, is currently facing challenges of getting more people to become cpas or even having young people think about accounting as a career.
more steve sacks: 150 hours revisted: the profession needs a makeover | how do you value your most important asset? | which is better: a year of education or a year of experience? | sell service, not hours | private equity vs. the cpa firm partnership | cas or caas? getting clarity | fine-tuning the subscription fee model | when cyber-crime hits close to home | how to build a winning proposal | six ways to fix your firm agreement | the great resignation or a reshuffling? | listen to learn | build the framework to a solution with five answers | try for success, not a win
we hear about the slow drip of the professional pipeline; all sorts of remedies or suggestions have been offered. is it because the profession still suffers an identity crisis exacerbated by an additional (if questionable) fifth year? there are those already in the profession who are bemoaning low pay, long hours, and doubts about whether gaining a partnership is achievable (or worth it).
oh, yes, there is the extra tuition load that must be taken on. so, higher debt, stagnant pay, long hours, and increased competition (think mbas, cfas) is a perfect storm.
survey shows that tech remains the great divide
why are the non-adopters not adopting?
by 卡塔尔世界杯常规比赛时间 research
wolters kluwer tax and accounting has issued its annual tax and accounting survey. the results show an industry re-evaluating its criteria for success as firmwide changes occur.
technology is the driver of those changes, and its rapid evolution is enabling, and even necessitating, innovation.
more: is the cpa business model the clog in the pipeline? | can big data spot financial fraud? | accountants torn over 2024 economy, offer advice | survey: are you offering the right services? | 42% of accountants turn away work over staff shortages | talent gap widening: be very scared | cpa biz is booming, but for how long? | survey: accountants economic outlook brightens
in her introductory letter, cathy rowe, wolters kluwer senior vice president, professional market, says, “those who embrace innovation will be able to redefine their firms, leave no spreadsheet untouched by the winds of change, and truly be future-ready accountants.”
the numbers back up the increasing use of and dependence on technology, but they also reveal a significant part of the industry declining to board the tech train.
read more →