management

imagine starting with a clean slate

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clean slate with three pieces of colored chalkare you there yet?

by ed mendlowitz
tax season opportunity guide

we all get caught up with what we do. sometimes so much that we lose sight of what we are doing and the purpose.

more on tax season: know your value | beware the opportunity graveyard | 21 reasons why tax clients switch firms | top 12 tax return preparation errors | 8 ways to delight tax season clients | small tax season leaks can cause great damage | 5 personal touches for tax season | how to get paid faster this tax season

also, work happens. many of us start out with lofty plans that go astray as the practice develops. many things cause it – clients we get, availability or lack of availability of the right staff, how we choose to learn or not learn new things, and even where we locate.
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know your value

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handshake3 questions to ask.

by ed mendlowitz
tax season opportunity guide

know your value to your clients. better, understand your business and what you really do and what you add to the client’s life.

more on tax season: beware the opportunity graveyard | two questions to ask yourself – before clients or staff do | 41 checkpoints for business tax returns | recognize your tax season resources | 40 other services your tax clients should know about | eliminate tax season excuses

i had a group of gastroenterologists as clients who were going to get into a business of inserting a gastric bubble into people’s stomachs. there were a number of issues to this.
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beware the opportunity graveyard

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"opportunity just ahead" road sign in deserthelp your clients, help yourself.

by ed mendlowitz
tax season opportunity guide

many opportunities only come along once. the way to be successful is to not let them pass by without acting on them or taking advantage of them.

more on tax season for pro members: two questions to ask yourself – before clients or staff do | 41 checkpoints for business tax returns | 21 reasons why tax clients switch firms | small tax season leaks can cause great damage | 5 personal touches for tax season | how to get paid faster this tax season

spotting opportunities is quite easy if you are looking for them – and extremely difficult if you don’t have a clue of client needs or wants.
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recognize your tax season resources

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happy family of four outdoors in winter clothing on snownine vital contributors you might be taking for granted.

by ed mendlowitz
tax season opportunity guide

we have many resources and need to recognize that. and we need to treat each with its own importance. even if you did everything yourself, you’d still need to rely on your tax software company, fedex and the postal service, stationery supplier, computer consultant, the internet and email, cell phone provider and copier/scanner machine. and that’s just a few of the resources we rely on. managing your resources well creates an aura of security and consistency to your practice.

more on tax season: 40 other services your tax clients should know about | 21 reasons why tax clients switch firms | top 12 tax return preparation errors | eliminate tax season excuses | be happy with your tax practice | 8 ways to delight tax season clients | here’s your new tax season marketing plan | consistency simplifies tax season

but there more. and they are often overlooked. or taken for granted. here are some more resources that need to be managed:
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partners love, hate leadership

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aquila leadership context modelmanagement can’t be left to others. (drat!)

by robert j. lees, august j. aquila and derek klyhn
creating the effective partnership

regardless of their ownership structure, most firms either operate as partnerships or would prefer to operate as partnerships.

more on leadership for pro members: 8 ways leaders destroy firms | the 4 best ways to use your senior partners | 11 steps to building a better partnership team | 6 things leaders must do | how to build a growth-centric pricing strategy | how to combine two firms after merger: carefully

the tensions between being a business and the loss of the values and ethics of being a partnership feature strongly in our research.
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top 12 tax return preparation errors

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error stampedthe good news: they’re preventable.

by ed mendlowitz
tax season opportunity guide

here are the top 12 tax return preparation errors:

    1. number transposition and spelling errors. this includes income and deduction amounts and client social security numbers, addresses and zip codes. spelling errors should also be avoided – they indicate a lack of attention to what you are doing.
    2. unreported 1099 income. clients frequently leave out 1099s, but the preparer should make sure all 1099 items from last year are accounted for. missing 1099s that were not final for last year should be accounted for.
    3. tax payments. entering incorrect and unpaid amounts can be avoided by requiring the client to provide “proof” of the payments. entering “incorrect” amounts provided by the client is a major cause of tax notices.

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management styles: partnership vs. corporate

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"that's okay i don't know what the chart means either."bonus checklist: 25 best practices for managing partners.

by marc rosenberg
cpa firm retreats

in firm management and governance, we find two distinct management styles: partnership vs. corporate.

partnership style. democracy heavily impacts the way partnerships are governed. in a democracy, every partner has a vote and there is a “majority rules” mentality. a system of checks and balances prevents leaders from becoming dictators. the “citizens” want a reasonable amount of input into decisions.

more on retreats: 30 marketing and growth questions to cover at a retreat | how marketing for cpa firms is different | why create a marketing plan? | thinking of merging? discuss it at a retreat | how to take action after a retreat | 12 simple rules for a retreat | leave your retreat with a to do list | every retreat needs a leader, but who? | retreats are no place for clowns | who should participate in a retreat? | retreat logistics: how long, what kind? | what should cpa firms discuss at retreats? | why do cpa firms conduct retreats?

in a partnership style, partners have “certain inalienable rights” like:
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be happy with your tax practice

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businesswoman holding green folderor target the source of your discontentment.

by ed mendlowitz
tax season opportunity guide

successful people are happy with their practices and what they do and get joy from interacting and helping clients.  i know a lot of accountants who continuously complain about tax season – yet they make most of their money during the period.

more on tax season: 10 questions every reviewer should be able to answer | 16 qualities of a good tax season client | 8 ways to delight tax season clients | small tax season leaks can cause great damage | 5 ways thorough beats sloppy in tax season | here’s your new tax season marketing plan | 5 personal touches for tax season | 11 clear client instructions to make your tax season easier

do they expect someone to knock on their door with a wheelbarrow of money to hand them? if they are financially secure, why do they keep working? if they are not, then, duh! either do it or find something else, but stop complaining. better yet, look at all the benefits from what you do (if you need me to tell you the benefits then find something else to do).
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