ai

tax season is hacker season

by

checklist: five things to do today to protect your firm and your clients.

the 卡塔尔世界杯常规比赛时间 busy season barometer:
new year, new strategies
join the survey. get the results.

by jess coburn
applied innovations

businesses of all sizes are targets from what has become the most vicious, innovative, and lucrative criminal endeavors we’ve ever witnessed. and tax practitioners are particularly easy targets.

more on busy season 2020: irs urged to form tax preparer strategy |  5 small leaks that can sink a tax season |  data points down as tax season opens |  the fight for new tax clients |  5 tax review keys |  tax pros forecast a better 2020 |  see all tax season 2020 coverage here

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the financial services industry is perhaps the most targeted because of the value of data it possesses. and the most frequently targeted are cpas and those who prepare tax returns.

read more →

2020 outlook: data import on the rise

by

microsoft power bi likely to become the visualization standard.

by roman h. kepczyk
quantum of paperless

security continues to be a significant and increasing threat, but many firm owners continue to assume it is being managed by their it team. we find traditional firm it does a good job on the internal components they control, but there are consistent shortfalls in the use of multifactor authentication, intrusion detection/prevention and staff training.

more: 2020 outlook: becoming the most valuable advisor | top three tips for 2020 success | 2020 outlook: where do you want to be? | 2020 outlook: dicey disruptions | 2020 outlook: upstream mergers | 2020 outlook: staffing gets creative
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

with cloud providers having significantly better security and disaster recovery resources than on-premise networks, we expect this will be another reason that the majority of firms give up managing their own networks (with the uber-large firms having their own it/security consulting being the exception). however, all firms need to be training personnel on safe computing when remote, on being suspicious of unexpected emails (phishing), as well as social engineering attacks that could expose their login/password as well as put the firm at risk of ransomware.
read more →

top three tips for 2020 success

by

as talent wars drive tech strategies.

by sarah dobek

heading into the new year, firms are diversifying their services to strengthen their position in the market and gain the ability to go deeper with clients.

more: 2020 outlook: where do you want to be? | 2020 outlook: dicey disruptions | 2020 outlook: upstream mergers | 2020 outlook: staffing gets creative
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the most popular new offerings are wealth management, client accounting services and some version of consulting.

however, the majority of firms are struggling to define and build out their consulting practice. there is still a lot of confusion between consulting and advisory services.
read more →

are you ready for the great disruption?

by

businessman in an umbrella sails in storm in the nightwelcome to profession 3.0.

by marc rosenberg
the rosenberg practice management library

many firms today seem to believe they can simply buy their way to growth. in other words, if they just figure out what the “right” marketing strategy or the “right” business development initiative is, they can simply write a check to fund those programs and growth will happen in and of itself.

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

unfortunately, this does not work in the real world, including cpa firms.

read more →

debunking the demise of the cpa firm

by

ai and blockchain aren’t replacing us.

by frank stitely
the relentless cpa

industry pundits subject us to a nonstop barrage of predictions that cpa firms will cease to exist very shortly. you know how much i love our industry pundits, who have never worked a day in a cpa firm. i dislike the ones who have not worked in cpa firms in the last 20 years only slightly less. their predictions are total and utter nonsense.

more: how to thrive as a 21st-century firm | 7 steps to effective project management | wip-ing clients into shape | managing people: the heart of effective project management | beware the leeches and consultants
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

i see two main types of doomsday predictions from our pundit buddies. first, they tell us that artificial intelligence will replace us. next, if ai doesn’t get us, blockchain will.
read more →

how to thrive as a 21st-century firm

by

computer monitors morph into chain links“professional staff without higher-level skills will be out of the business.”

by frank stitely
the relentless cpa

if you believe accounting industry pundits, artificial intelligence and blockchain will decimate accounting firms the way an asteroid killed off the dinosaurs. but paleontologists don’t think dinosaurs really went extinct. they survived as today’s birds. in the next 10 years, or sooner, accounting and tax firms will evolve from offices full of employees dutifully typing data into workstations to organizers of terabytes of accounting data for our clients.

more: 7 steps to effective project management | how many tax preparers do you need? | how the annual tax meeting died | how to be the chief communicator | 4 steps to take before next tax season
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the pundits are wrong about our extinction. effective project management will prepare your firm to thrive in the 21st century. i’ll take you there in a bit of a roundabout way via the coming of blockchain to the irs.
read more →

how many tax preparers do you need?

by

stacks of papers on the corner of a deskalso: why error tracking is vital.

by frank stitely
the relentless cpa

we’ve discussed planning for tax season in terms of how many full- and part-time preparers you need. now, let’s discuss this in terms of capacity and turnaround time. let’s ask why we should ever hire additional tax preparers at all, because hiring additional people only costs more money.

more: farm-aid for accountants? | wip-ing clients into shape | maximize your role as visionary | the land mines in tax returns | give your people the resources they need
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

we’ll start with a really ridiculous example and then get realistic.
read more →

how manufacturers can use the r&d tax credit

by

bottles of sunflower oil on an assembly linethere’s a 4-part test.

by barry j. friedman, cpa
industrynewsletters

many manufacturing companies fail to take advantage of the generous research and development (r&d) tax credit simply because they don’t have staff working in a lab. the internal revenue service’s (irs) definition of r&d is codified at internal revenue code section 41 and its related regulations – and it may not be exactly what you think it is.

more: padding your tax deductions? the consequences are serious | alternative minimum tax: what’s it like today? | 6 key facts about excise taxes | gifts to charity: 6 facts about written acknowledgments | yes, home equity loans may still be deductible
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

from 2018 to 2027, the estimated value of r&d tax credits to be claimed by u.s. companies is estimated at $163 billion, with $148 billion of that going to corporations.
read more →

‘going cloud’ requires more, not less, cybersecurity

by

portrait of william murphy sr.
murphy

it’s a team approach, not a handoff.

by william murphy
accounting firm operations and technology survey

it seems that everyone is “going cloud,” or soon will be. if you are not already in the cloud, chances are you are working your way toward getting there, or you are at least thinking about it.

one reason you are thinking about abandoning those servers in your back office is to avoid the possibility of cyberattack and the loss of your data, or a “holdup for your data” in the form of ransomware. you think that moving to the cloud is going to give you the ultimate in cybersecurity when it comes to protecting your data and the confidential information within it. you had better think again!
read more →

8 steps for a successful change process

by

gold pyramid etched with symbolsplus 4 common attacks to anticipate.

by bill reeb

we pick up in part 3 of this column series with some additional changes in best practices that will help you better focus your talent on what is truly important to the firm’s future.

parts 1 and 2: change happens: how to master it. | building competency on every level
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

as well, we will review a few simple change management strategies and approaches to propel the successful changes and transformations you and your organization desire to make. so, let’s get started.
read more →

change happens: how to master it.

by

what’s next: “smart” helmets powered by ai and ar.

by bill reeb

“change” isn’t something you are expected to do once in a while anymore, but rather, “change” is something we are asked to do constantly.

more on performance management: what happens when you don’t push work down | why you must constantly push work down
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

even while one change is in process, we often are asked to start another change.

read more →