should you merge? here’s how to chart your path

businesswoman at crossroads, facing two paths

lease renewals trigger this concern, but they’re not a good reason.

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

question: i signed up with a broker who introduces buyers and sellers of cpa practices, to find someone who would buy my practice when i want to retire. i don’t want to retire yet, but am starting to think about it. the broker suggested a merger now combined with a buyout deal when i am ready to retire. am i going about this in the right way?

more: a friendly chat or a billable discussion? | busy season is over, so it’s time for some resolutions | want to merge? six steps to take | how to start providing family office services | 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 | uncooperative partner might not be the problem
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

response: i get a lot of calls similar to this when lease renewals are coming up, or a tenant is lost and a merger could fill up the space, a key employee is lost or a major client is lost. in my opinion, these are not reasons to merge. merging is a major change of life and needs to be done with great care.
read more →

planning lays the foundation of audit relevance

if you fail to plan, you plan to fail. 

by alan anderson, cpa
transforming audit for the future

next time you have your planning meeting about an upcoming audit, print out a page or two of what you say on your website. share those pages around, and ask the planning team members, “how are we going to deliver on what we’ve said on our website?”

more: how do we drive relevance in audit? | before the audit: more than just planning | five crucial attributes for successful audit leadership | put the ethics code to work for your clients and your firm | is audit in crisis because of definitions?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

most people think of planning an audit as an exercise in filling out forms. planning an audit is certainly much deeper than that. the ultimate foundation for success in your audits depends on what you do during the planning stage.

read more →

big change comes with deep reflection

chalkboard saying indicating that time to change is now

are you ready to redefine the accounting profession?

by seth fineberg
at large

what can be accomplished in a year for any individual or organization is amazing. in this case, i’d like to draw attention to the efforts and, for some, the existence of the accounting alchemy network.

more seth fineberg at large: 3 ways to raise the bar for your businessrandy crabtree: stress management for overworked accountants | make it ‘productive season’ | it’s time to do the uncomfortable | three ways to improve next tax season | jeremy sulzmann: can intuit mend fences with accountants at qb connect? | meet basis, the new ai bookkeeper on the block | is this when accountants start taking freshbooks seriously? | you’re doing email wrong | careful… you may be advising!
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

in march of 2022, ingrid edstrom, alina nikishina and mathew heggem helped put aan into the world to build a network of like-minded individuals dedicated to seeing accounting’s higher purpose come to fruition. i wanted to take some time in this post to familiarize you with what aan accomplished over the past year and peek into where it’s headed.

read more →

how mindset affects your marketing

smiling businesswoman

even after years of experience, confidence may not come easy.

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

in school, during both my undergraduate courses and my mba classes, i took marketing 101, or something close to that. i learned the four p’s: product, price, place and promotion. i aced the class.

more: three steps to becoming a millionaire | five business development mistakes to avoid | how to leverage chatgpt during this crazy tax season | eight steps to getting started with ai: a guide for tax professionals | 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 stamina | make 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?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

when i started my first business at age 13, i ran an ad and was able to get clients. it was no big deal. when i wanted to earn some part-time money during college doing bookkeeping (before i passed my cpa exam), i answered an ad and found clients. it was no big deal. when i started a part-time photography studio in the 1980s, i sent out press releases and direct mail and got clients. it was no big deal. i was doing all of this on the side while i had full-time jobs paying the rent and everything else.

but when i got laid off in the 1990s and needed clients in order to go out on my own and pay my own rent, something in me snapped. i was scared to death. i suddenly had no idea how to get started getting clients. i could have run an ad, but i didn’t. i could have sent out direct mail, but i didn’t.
read more →

what kind of leader are you?

cartoon of good vs bad leader

good vs. bad leadership.

by liz farr

i am fascinated by leadership. that’s likely because i’ve had way more experience with poor or mediocre leaders than with great leaders. let me tell you about examples at the extremes.

more from liz farr: jason blumer & julie shipp: move leaders out of client service | brandon hall: firms try to make too much on tax prep | amber setter: coaching helps resolve the tension between safety and purpose | 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 | chris vanover: question the why or stay with the status quo | jason deshayes: what we’re doing isn’t working
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

in 2002, my accounting career began with a job at h&r block in rural new mexico. it was my first job where it was important to be at work on time. all my previous jobs had been as research assistants in biochemistry. my schedule was flexible, and as long as i kept up with the necessary work to move the project forward, my supervisors generally didn’t care when i did the work.

what kind of leader do you want to be?

do you want to be the kind of leader people want to follow? who is honored, as julie shipp is, “to go shoulder to shoulder with you”? or the leader who relies on constant and pointless check-ins?

if you’ve never spent time at a retail tax prep office, you may not be familiar with the stampede of people who show up as soon as they get their w2s so they can get their eitc refunds as soon as possible. this office was in a low-income area, so for a few weeks in february, when the doors opened at 9 a.m., we had enough people lined up outside the door to keep us busy until noon or beyond.

read more →

three steps to becoming a millionaire

dump “nonprofit” tasks and focus on the high-value ones.

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

let’s do the math. to earn a million dollars in a year, you have to bring in $83,333 per month. assuming you bill hourly and work for the standard 1,000 billable hours per year, you need to charge $1,000 per hour. if you want to make $5 million in one year, you will need to charge $5,000 per hour.

more: five business development mistakes to avoid | twelve ways your business card can hurt you | got fomo when it comes to ai and chatgpt? you should: here’s what you’re missing | 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 | how to fight feeling overwhelmed | you’re missing 60% of your revenue | make the most of cpe conferences
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

here’s some breaking news: you won’t get there doing tasks that are worth $10 per hour. even if we drop a zero and aim for six figures in a year, you won’t get there doing $10-per-hour tasks either. at six figures, you’re worth $100 per hour.

the difference between poor people and rich people is simple: one values the scarcity of their time and uses every minute wisely, and the other doesn’t.
read more →

s corp clients beware

…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…

tax pros close season handling 53% of e-filings

data table

the mark has been steady for three years now.

by beth bellor
卡塔尔世界杯常规比赛时间 research

april 15 has come and gone. finally, tax season is over!

hahaha! sure, it’s true for the 140 million+ represented on the returns filed so far, but it doesn’t speak to their neighbors who aren’t quite there yet. you know, the ones you filed extensions for.

more: tax refunds up about 4% | tax pros own 53% of e-filings | tax stats still playing catchup | tax pros take the edge in e-filings | tax pros gain ground, and diyers maintain lead | tax pros handle 46.4% of e-filing | tax refunds, tax pro market share trending up | refunds up as tax pros tackle 41.5% of e-filings | tax pros handle 37.7% of e-filings | tax pros file 33% of early returns
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

still, it’s a national touchpoint, so let’s take a peek at the data the irs just released for april 19, just after the deadline.
read more →