the recession catches up with accountants
the crashing economy is starting to show it’s effects on tax and accounting employment, typically among the last of the economic sectors to be hit in a recession.
economic trends
webcpa reports on bay street group research: cpa firms to expand despite recession
by webcpa staff more than a third of cpa firms plan to supplement their workforce in the next 12 months, according to a newly released survey. the survey, by the american institute of cpas’ cpa2biz unit and the bay street … continued
happy new year! now let’s get to work…
cpas list goals for 2009 – both personal and professional. comment here: what are your new year resolutions? by rick telberg/at large accountants the world over seem to be breathing a sigh of relief that 2008 is finally over. they’re … continued
cpa firms gain amid dismal jobs report
your mother was right: “become an accountant and you’ll always make a living.” take a look, for instance, at the latest jobs report from the u.s. department of labor, which showed the overall economy lost 533,000 jobs in november – … continued
will small business surge in this recession too?
small business formations actually accelerated in the last two recessions. it’s more evidence that the cpa profession is counter-cyclical. but can it happen this time?
turbotax responds to price hike outrage
will this calm the first storm of the tax season? intuit inc. has announced that customers using its turbotax desktop software products can now prepare and print multiple returns at no additional cost. “we’re responding to changing market conditions and … continued
look to small biz to lead the economic recovery
you’d think the small business market must shrink in a recession. but you’d be wrong. and it can be a fatal mistake, according to warrillow & co. researchers. the net number of small businesses actually grows during a downturn. the … continued
the big 4 as frankenstein’s helpers (happy halloween!)
paul samuelson: financial crisis work of ‘fiendish monsters.’ with the financial crisis that started in the united states triggering a global recession, a japanese newspaper reporter interviewed distinguished american economist paul samuelson (pictured) for his insights on what the world … continued
art bowman: cpas must hold themselves “above the fray”
in his the latest edition of his newsletter, the veteran accounting journalist and commentator art bowman says… we go through cycles of self-delusion, sometimes too giddy and sometimes too glum. the next recovery lies in the ruins of the last … continued
taxmama’s money tips
we asked: what should small business do in an economic slowdown? eva “taxmama” rosenberg answered! by eva rosenberg, mba, ea publisher, taxmama.com, “where taxes are fun!” …just some quick ideas before i actually wake up and start producing today’s taxquip. … continued
gloria birnkrant: money tips
here are eight tips for minimizing the effect of a recession on a small business…
by gloria birnkrant
partner, nsbn
1. clean up your act now, before you start feeling the pinch. be sure you are getting current and good financial information on how your business is doing. waiting till the end of the year to see how you did will not do it. you need to know, as up to date as possible, how you are doing, month by month.
2. take a look at your expenses and see where you may be able to cut costs, without cutting service to clients/customers. clients/customers are hard to get and if lost, almost impossible to get back.
3. secure your credit now. credit is already very tight and will probably get tighter. read more →
thirteen fresh recession-busting ideas
and one thing never to cut back on.
add your best advice for small business owners and accounting firms: leave a comment.
by rick telberg/at large
with energy prices surging, credit markets frozen and the economy slowing, cpas are getting more questions and listening to more client concerns than ever before. fortunately, they have answers.
in fact, cpas have plenty of answers. good answers.
“many clients are noticing a growing concern among their customers, and, consequently, are beginning to prepare for tougher times,” says kevin ryan, a partner in the philadelphia office of citrin cooperman.
fernando gomez | money tips
3 cost-control ideas for small business. fernando gomez, cpa jackson heights, n.y. fgomezcpa.com. 1. a business should have appropriate insurance coverage. consider increasing the insurance deductible, where permitted, on all types of business insurance in order to reduce the premiums … continued