today's features

four questions for choosing your marketing audit strategies

smiling woman with head surrounded by question marks, exclamation points and yellow light bulb

what segments and services offer you the most potential?

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

let’s continue with our marketing audit discussion. now that we have some firmwide objectives, we need to select strategies. there are many ways to accomplish something, and it is necessary to select how you are going to go about doing it.

more: maybe what you need is a marketing audit | clients have six reasons for needing you | six ways to market your technology consulting practice | sixteen marketing activities to try | the four steps of your personal marketing process | how does your firm measure up? | six questions before asking for all the referrals you deserve | five rules for a marketing orientation | ten keys to marketing success
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selecting your strategies

let’s look at four different strategies.

  1. cost reduction. as new forms of technology and artificial intelligence enter the workplace, it is increasingly possible to achieve a competitive advantage by using them to reduce the cost of service delivery. tax processing software is a common example that firms have used over the last 20 years. ai could help firms reduce costs in multiple areas of the firm, from tax research to improving processes.

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creating the perfect ad

man designing ads

here’s how to get it right.

by bruce marcus
professional services marketing 3.0

editor’s note: 卡塔尔世界杯常规比赛时间 was privileged to have a long relationship with bruce w. marcus, who was ahead of his time in his thinking and practice in marketing for accounting. we are publishing some of the late expert’s evergreen work, which retains wisdom for the present.

at last, the perfect law firm ad campaign. well, pretty much perfect. the 39-office, atlanta-based law firm has been running an ad campaign that embodies every principle of good advertising.

more: ten keys to crafting ads | eighteen things advertising can do for your firm | how and why client service teams work | manage knowledge as a marketing tool | secret marketing formula: get one client at a time | marketing a fixed position in a moving world | how to build a marketing culture | have you planned how to service your new revenue? | why is change so hard for firms? | why value pricing works | why competition matters most
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its ad in the wall street journal has a picture of a man in front of a crossroad sign as if he were choosing which fork to take. the headline, which is really a callout in the middle of the copy, is in larger type than the rest of the text, which says “where you go now” (lower case as is).
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six rules for keeping partners happy and productive

group of four business people talking to each other during a business meeting, with one man holding an electronic tablet in his hands with graphs and charts on the display

plus the first nine questions they must embrace for optimal profitability.

by marc rosenberg
the rosenberg practice management library

“when a corporation says move left, everybody takes a step left. in a partnership, when you say move left, three people go to the bathroom, four people move right and five people leave the firm.”richard ungaretti, ungaretti & harris

more: why strategic thinking impacts your firm’s future | seven things good firms must do | don’t make firm profitability a goal | top 20 tough choices for the partner comp committee | tell potentials what partnership takes | disturb the present to improve the future
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in cpa firms, as the partners go, so goes the firm. the partners

  • bring in most of the business,
  • manage most of the client relationships and engagements,
  • develop and mentor the staff and
  • manage the firm.

if the partners don’t perform these functions effectively, it is virtually impossible to be profitable and successful.
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how to weather any economic storm

woman pulls pack storm page and reveals sunset.

four strategies to use … and six to avoid.

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

according to an article published in harvard business review, three scientists, ranjay gulati, nitin nohria, and franz wohlgezogen, conducted a study to discover the strategies that generated the most – and the least – profits in lean times.

more: leverage your strengths to beat stress | you don’t have a time problem | three money leaks and how to plug them | eleven ways to serve clients even better | eight ways to build busy-season staminamake your prospect kit stand out | six ways to beat the competition | grow your revenue with three marketing strategies | what can chatgpt do for accounting professionals?
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first, here’s a list of surefire ways to kill your business:

  • slash headcount with huge layoffs.
  • have solely a short-term focus.
  • employ executives who take a loss-minimizing approach.

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ftc nails turbotax for ‘free filing’ scam

shocked couple looking at laptop while sitting on couch

what does ‘free’ mean? it shouldn’t be up for debate.

by 卡塔尔世界杯常规比赛时间 research

american taxpayers are all victims of a tax scam.

yes, all of them.

more: if only the irs’s tax pro were useful | tax pros file 33% of early returns | the nightmare of non-credentialed tax preparers | must the irs be a dark hole? | irs plays whac-a-mole with the phones | vcs plunk $60 million into ai-powered ‘autonomous’ tax prep
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

and the new york times points an accusatory finger straight at turbotax.

a tax season villain

in a 15-minute video article by john harris and binyamin appelbaum, the times says there’s a tax villain, and it’s neither the tax rate nor the internal revenue service.
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make audits matter: live cpe with alan anderson

hot topic: blake oliver discusses “transforming audit for the future” with author alan anderson.

anderson joins host blake oliver at earmark webinars+.

making audit matter again: the future of assurance
feb. 28, 12 pm et, 9 am pt
learn moreregister

卡塔尔世界杯常规比赛时间

the audit is at a crossroads. commoditization and compliance mentalities have diminished its value. now, auditors face an existential crisis.

how can assurance stay relevant?

join alan anderson, author of the newly published “transforming audit for the future,” and blake oliver as they tackle pressing questions on audit’s failure to innovate and chart a new direction focused on value-added assurance.

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advisory work must be priced by value, not hours

technology pushes us to handle more advisory work, which allows more value pricing. 

by jody padar
the radical cpa

as a professional in the industry, you may find some of what you do easy. just because you find it easy doesn’t mean it isn’t valuable and worth more than the time you put into it. if it were truly easy, your clients would be doing it themselves rather than paying you.

more: 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
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undervaluing ourselves and what we bring to the table is a chronic problem plaguing accountants and cpas. why do i say this? because people pay more for the luxuries they value. let’s look at a comparison:

today, the msrp of a cadillac escalade is over $81,000 while the msrp of a chevy suburban is slightly under $60,000. if these automobiles were priced according to the time it takes to make them, plus the cost of their parts, the difference between their retail prices would probably be far less. to maximize profits, gm spends a lot of time and money researching how much their customers value their different products. certainly, the brand makes a difference, but the cadillac also offers a more luxurious package. it doesn’t cost gm a lot more money to offer these luxuries, but their customers place a much higher value on them, and gm understands that value.

pricing according to value really isn’t a radical concept!

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offer your tax clients other services

woman and man shaking hands across a desk

here are 40 they should know about, plus a checklist for considering additional client services.

by ed mendlowitz
tax season opportunity guide

the following listing can give you ideas of additional services clients might need.

more on tax season: 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.

this list is not complete, but it is a good start for you to start thinking about what types of additional services you can offer to your clients!

  1. estate planning
  2. inheritance advice and guidance
  3. succession planning
  4. personal financial planning

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cover these five areas of information security

how to thoroughly safeguard client information.

by penny breslin
it’s not just the numbers

your clients trust you with their information; however, in today’s world, where sensitive information can be compromised and distributed, clients want assurance that their information is safe and that you are protecting them from identity theft.

more: let tech make communication easier | how to craft a service level agreement | how to maximize on-site client meetings | sixteen guidelines for naming conventions | you have to manage three kinds of procedures | tech tips for back office support | decoding accounting tech (and all those acronyms) | digital marketing strategies level the playing field | eight tasks to delegate today
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although certain state laws (check with your state); federal laws such as gramm-leach-bliley (glb), which covers individual privacy disclosures; and the aicpa rules of ethics do provide some protection, we recommend that as the trusted business advisor, you should disclose to your clients how you:

  • safeguard their information in your office and on your servers
  • securely transmit sensitive data
  • closely supervise access to authorized parties only

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microsoft moves further into nuclear development with new director

coming soon: a global plan for microsoft’s data centers to be powered by microreactors and small modular reactors.

by rick richardson
technology this week

data centers are recognized for using an astonishing amount of energy. experts say they account for 1.5 percent to 2 percent of all electricity worldwide.

to become more environmentally conscious and to combat climate change, it companies have mainly concentrated on powering these through sustainable and renewable energy sources. however, the effort is becoming more difficult because of the growing energy demand brought about by introducing new technologies such as artificial intelligence because this field alone uses around four times as much power as servers use for cloud applications.

more: nuclear battery could keep your future phone running for 50 years | did ancient romans find a solution for climate change? | telehealth advances with ai-powered clinics | fcc approves superfast wi-fi tethering | major websites blocking content from ai crawlers | printer ink: not just expensive, but a blatant scam? | generative ai coming to microsoft 365 | electronic skin that can sense touch will transform robotics | chatgpt passes cpa exam on second try | stanford scientists 3d-print heart tissue
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in recognition of the impending challenges on its data centers, microsoft appointed a director of nuclear development acceleration, an arguably contentious move.

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higher fees to start: ten ways to make your tax season better

woman smiling as she uses calculators and views charts on computer screens

does your firm look “closed for business”?

by ed mendlowitz
202 questions and answers: managing an accounting practice

  1. increase your fees 3-5 percent at a minimum – to offset your increased costs.

more: nine tips for a healthier tax season | every accounting firm needs quality control | no one listens to you? change how you talk | 47 types of business valuation to provide | thirteen things to consider before you sell your practice
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  1. deliver your bill with the return.
  2. call clients before return is sent to explain and give a heads up for unexpected results.

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stress test your clients’ financial plans

what’s the worst that could happen? ask that now.

by anthony glomski

i wrote this series of posts to help successful entrepreneurs and their advisors learn how they can build on their impressive accomplishments and utilize their wealth to achieve even greater things going forward – for themselves, for their families, for their communities and for the causes they care about.

more: when clients want to manage their own wealth | four attributes your experts need | how a virtual family office can serve your wealthy clients | is your client’s wealth truly protected? | control the level of risk | how to flip the switch to wealth preservation | three ways to work together on wealth | five challenges of liquidating a business
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the fact is, your clients should take their financial health as seriously as they take their physical health. one of the best ways to ensure that their financial plan is strong enough to withstand whatever the market, the economy and life circumstances throw their way is to perform a regular “stress test” of their financial plan.
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accounting hiring hits another high

line chart
overall employment in the accounting profession

 

tax prep is less than half the increase.

by beth bellor
卡塔尔世界杯常规比赛时间 research

is the accounting profession closing its staffing gap?

it sure seems that way, as employment hit an all-time high in january. women fared well, too, reaching record levels in the field overall and in payroll services.

more: staff wages hit record high | despite staffing crunch, firms freeze pay raises | tax & accounting firms grow for 9th straight month | tax & accounting profession grows, but wages don’t | tax and accounting pay advancing at 5.9% pace | accounting jobs up 4% for year
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nationally, unemployment held at 3.7 percent as total nonfarm payroll employment increased 353,000, according to the latest data available to 卡塔尔世界杯常规比赛时间 research. of those new hires, 74,000 came in professional and business services, well above 2023’s monthly average of 14,000.
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