most tax and accounting practitioners see a bleak outlook ahead.
by 卡塔尔世界杯常规比赛时间 research
tax and accounting professionals are launching into busy season 2022 with widespread fears of crisis and chaos, facing a third year of pandemic conditions, the staffing shortage, a sputtering irs, and political and economic uncertainties.
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a majority of accountants are telling the 卡塔尔世界杯常规比赛时间 busy season barometer that they are expecting an even worse year than last year, with 40 percent bracing for “somewhat” worse and 11 percent girding for “much “worse.
and just in case congress didn’t get the message, national tax advocate erin m. collins submitted to that august body an annual report that pulled no punches and spared no explication. the new filing season starting jan. 24 could bring hitherto unbelievable problems.
small-business start-up rate running 50% higher than pre-pandemic. (via zapier)
71% plan to continue with their new ventures.
by 卡塔尔世界杯常规比赛时间
as the world bemoaned the cruelty and inconvenience of the covid-19 pandemic, a lot of entrepreneurs were making the best of times in the worst of times.
the result: a lot of new small businesses. and each one is an opportunity for an accountant.
the pandemic years have seen a huge spike in not just covid-19 cases but new business creation, a breathtaking increase of 50 percent, according to a survey from zapier, the software automation company. it started just as existing businesses went into lockdown, and the trend isn’t stopping any more than the virus is. read more →
by 卡塔尔世界杯常规比赛时间 research
卡塔尔世界杯常规比赛时间-avalara business confidence index
new readings from the 卡塔尔世界杯常规比赛时间-avalara business confidence index are unearthing a lot of good advice for firms venturing into the post- (let’s-hope-) covid-19 world.
these are troubling times, no doubt about it. but despite the uncertainties of the covid-19 pandemic, the biden administration, congressional turmoil, and disturbing events around the world, accountants are cautiously optimistic about the future of local business and the national economy.
results from the 卡塔尔世界杯常规比赛时间 / avalara accountants confidence index show deep concern for small-business clients, but generally hopeful that business will continue unchanged or get somewhat better over the next year to 18 months. read more →
busy season barometer: 53% report a “worse” year, compared with 31% reporting “better.”
ironically, the chaos translates into expanded business.
by 卡塔尔世界杯常规比赛时间 research
it was a pretty bad busy season for most of the nation’s tax preparers. covid-19 was on the wane, but congress was on the job, jiggering tax rules even as the season was underway.
and, now, with the prospects of a federal government shutdown and a multi-trillion-dollar spending bill, 2022 is shaping up to be deja vu all over again.
to be sure, a good number of accountants are assuaged by more clients and more revenue. but the 卡塔尔世界杯常规比赛时间 business barometer finds preparers experiencing a long, tough slog.
on the frontlines (from left): hochberger, wright, speed, frazier, widmann.
in all, 53 percent say they had a busy season somewhat worse (27 percent) or much worse (26 percent) than last year.
for some, it seems like a good time to call it quits. “thank you for all the love and support,” says one firm’s auto-responder to incoming emails.
“as some of you may know, this past few tax seasons have been nothing short of chaotic, to say the least,” the three-office, north carolina tax shop tells callers. “but i have enjoyed being able to assist each and every one of my clients.”
why? because the tax year itself was kind of – to put it nicely – special.
covid-19 and congress were the culprits, of course. in a desperate attempt to keep the national economy afloat, congress passed retro(ouch!)active tax relief – the american rescue plan act – as the busy season was well under way. read more →
over the last decade with rising markets and the ranks of the wealthy swelling, it has certainly been possible to build a $5 million high-net-worth practice.
even with soaring competition, using the very same approach as we are discussing, you could have consistently generated those kinds of revenues or better.
so, what is the difference today? the difference is covid-19. read more →
with 18 months of water under the bridge, we’re three-fourths of the way through the employee retention program, the irs changed their mind on an extremely important issue that changes many, many tax situations. read more →
it’s an understatement to characterize cpas as process-oriented, with prescribed steps for financial statement audits and tax return preparation that follow a specific regimen. among the many jokes about accountants, the one that resonates here is:
why did the auditor cross the road?
because he looked in the file and that’s what they did last year.
but the “funny” thing is that while cpas are typically pedantic about the processes for client work, it’s often a case of the cobbler’s shoes when it comes to running their firms in general, and practice development in particular. read more →
what do other businesses know that we’re ignoring?
by 卡塔尔世界杯常规比赛时间
among the many wonderful things covid-19 bestowed on american business, new business models probably rank first. those who figured out how to adapt found themselves competitive. those who didn’t now drive for uber.
the accounting industry was among the quick adapters.
though quick to adapt to a modified office structure, cpa shops have been slow to adopt automation. other small and medium-sized businesses (smbs) have proven far quicker.
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