covid-19

ppp traps: 1 in 5 accountants report shady dealings

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fake employees, fake businesses, and lavish spending mar the covid relief program.

have you walked away from any ppp engagements?
ppp practice management do’s and don’ts:
join the survey. get the results.

by sandi leyva

with fast money comes fast fraud, and the arrests and jail terms are only just beginning for individuals who applied for ppp money under false pretenses and have already been caught. you’ve seen the headlines, where people from every walk of life including reality tv stars, rappers, a wal-mart manager, and even an nfl player have been arrested on charges of ppp loan fraud.

ppp fraud has likely already impacted your firm. the extent of the fraud is the real story.

one thing is fairly predictable: “audits will pick up,” says bradley burnett, tax attorney and instructor of the ppp forgiveness webinars being conducted by accountant’s accelerator and 卡塔尔世界杯常规比赛时间.

according to respondents of an ongoing survey being conducted by 卡塔尔世界杯常规比赛时间 and accountant’s accelerator, preliminary results show that just over 1 out of every five accounting professionals offering ppp services (22 percent) has had to walk away from at least one ppp engagement.  and one firm has had to walk away from more than five ppp engagements.

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building a high-net-worth practice during covid-19

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woman and man wearing masks, looking at laptopthe four types of professionals … and which one you need to be.

by anthony glomski and russ alan prince
your $5-million high-net-worth practice

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.

more: the essential process for building a high-net-worth practice | what the wealthy need | setting financial and practice goals during covid-19 | 4 components of a high-net-worth practice | life insurance as part of wealth management | mistresses, mister-esses and accountants | the coming boom in tax services for the super-rich
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

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.
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the essential process for building a high-net-worth practice

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businessman working netbook outdoors, wearing sunglassesvital to coping with the covid-19 crisis.

by anthony glomski and russ alan prince
your $5-million high-net-worth practice

a lot goes into building a $5 million high-net-worth practice.

more: what the wealthy need | setting financial and practice goals during covid-19 | 4 components of a high-net-worth practice | life insurance as part of wealth management | mistresses, mister-esses and accountants | the coming boom in tax services for the super-rich
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

it is a given that you will need wealthy clients. for most accountants, most of these wealthy clients are very likely to be successful business owners. but that is not always the case. you can potentially achieve your financial end goals with wealthy inheritors, for example.

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don’t get burned by these ppp pitfalls

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three ways to get it wrong and only have one chance to get it right.


^ click for video

by stephen nelson

over the last few months, i’ve answered hundreds of questions about ppp loans. and i’ve written a short e-book, “maximizing ppp loan forgiveness” for the accountants who will help small businesses with their forgiveness applications.

stephen nelson’s new e-book maximizing pp loan forgiveness is available through 卡塔尔世界杯常规比赛时间 directly from his website for instant download. |  more from stephen l. nelson

learn more here: new e-book: ‘maximizing ppp loan forgiveness’

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

^ click for podcast

and, here’s an insight from all this frenzied ppp activity: big surprises await many borrowers.

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with 1040 work dwindling, tax resolution moves to the forefront

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more money in tax resolution every year.

by eric green

the demand for tax resolution has exploded in the last several years, and our current situation is only going to increase that demand.

there’s never been a better time to get into doing this work, and there is a shortage of cpas who can do this work really well.

as an introduction, here are six tax resolution services that are money-makers for firms with cpas and eas that can deliver results to taxpayers with these problems.

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new job cuts at cpa firms and no recovery in sight

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payroll remains the hardest-hit sector.

by beth bellor

after shedding 77,800 jobs in april, tax and accounting employers have added back 45,300 employees, but the total headcount has dipped again and remains down by 32,300 from the pre-covid level, according to the latest data reviewed by 卡塔尔世界杯常规比赛时间.

more on jobs: covid job toll: tax & accounting cuts 17,500 employees | firms recall half of furloughed staffers | covid kills 67,600 jobs in tax and accounting | pre-covid-19, accounting profession hits new highs | planning for the coronavirus recession
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

in this report, 卡塔尔世界杯常规比赛时间 highlights:

  • current and long-term hiring trends in each of the bookkeeping, payroll, tax, and cpa segments of the industry (all data seasonally adjusted)
  • average hourly wages for key segments
  • typical hours worked per week
  • trends concerning women in the accounting workforce

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what the wealthy need

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and 4 qualities they often have.

by anthony glomski and russ alan prince
your $5-million high-net-worth practice

by design, the clientele of an accounting firm’s high-net-worth practice is the wealthy, defined as having a net worth of $10 million or more.

join glomski and prince for “how to build a pipeline of new high-value clients” oct. 6, 1 pm et. get the details here

more on building a high-net-worth practice: setting financial and practice goals during covid-19 | 4 components of a high-net-worth practice | life insurance as part of wealth management | mistresses, mister-esses and accountants | the coming boom in tax services for the super-rich
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

we know that with clients at this level of net worth, you can indeed build a $5 million high-net-worth practice.

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3 ways to opt out of any downturn

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train tracks going both ahead and off to leftyou can succeed no matter what the economy is doing.

by sandi leyva

all roads point to a significant downturn in the overall economy for the next few years. if you’re interested in simply opting out of all that mess and creating your own economic success for you and your clients, then keep reading. i truly believe many of you have the power and ability to make a difference as to whether your clients sink or swim in 2020.

more on small-firm growth strategies: 5 ‘low-hanging fruit’ ways to raise your revenues right now | stuck at home right now? here’re 100 good ideas to relieve the stress | how to lead in a crisis | how to think straight through the coronavirus crisis | tech tools for working through the coronavirus | 7 tips to keep the clients you have | do you know your opportunity number? | 7 tips to boost your firm’s performance in 2020 | 5 mistakes to avoid when seeking new clients | survey quantifies link between online reviews, revenue
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

here are three ways to make a difference for your own firm and for your clients.
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setting financial and practice goals during covid-19

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businessman pole vaulting toward his goal16 questions to consider.

by anthony glomski and russ alan prince
your $5-million high-net-worth practice

the accounting business was changing even before the onset of the covid-19 crisis.

more: 4 components of a high-net-worth practice | life insurance as part of wealth management | mistresses, mister-esses and accountants | the coming boom in tax services for the super-rich
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

three of the factors that are possibly impinging on your ability to be as successful as you want include:

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