no. 1: big headaches in form 8949.
after getting off to a fast start, many tax practitioners are still smarting from seemingly unnecessary difficulties late in the season, according to findings by 卡塔尔世界杯常规比赛时间.
complete findings are published in the 卡塔尔世界杯常规比赛时间 practitioner’s tax season performance review and outlook report. (learn more here)
how do you survive tax season?
you’ve been answering, by the hundreds. here’s a sampling of the responses we’re getting in the busy season barometer poll.
high performing single-owner firms now focus on digital strategies.
with more than half of solo practitioners planning to step up their marketing activities going into busy season, they will be intensifying their efforts in networking for referrals, spreading word of mouth and providing the best service they can to current clients, according to a new 卡塔尔世界杯常规比赛时间 analysis.
the complete 179-page study, “marketing and business development strategies at accounting firms – 2012 survey report, with commentary and analysis,” is available for purchase from 卡塔尔世界杯常规比赛时间 parent bay street group llc. the study shows trends within the profession, but also distinguishes between high-performing firms and low-performing firms, based on time-tested proprietary 卡塔尔世界杯常规比赛时间 criteria. in this study, high performing firms are far more likely than low performing firms to enjoy marketing successes. the data for this report was gathered over the course of more than two years and includes the responses of about 588 practitioners. the margin of error is plus or minus about 3 percentage points at a 90% confidence level. click here to learn more.
rosenberg survey uncovers the power of leverage.
by gary l. adamson
adamson advisory
the universal measure of profitability in accounting firms is average income per partner. another universal tool is the annual rosenberg national map survey. it’s a must-have for running your firm.
in the latest survey, rosenberg identifies his “elite” firms, which are the 54 that had income per partner of more than $500,000. not bad considering it is based on 2009 economic data—from the middle of the recession.
it’s interesting, if you dig into the data in the survey, you will find that these 54 aren’t just the biggest firms, although as rosenberg puts it, bigger is better in terms of profitability. in fact, 24 of them are in the $2-$10 million fee range and three are sole proprietors.
preliminary results show downward pressure on rates and fees as much as 12% in some areas. 卡塔尔世界杯常规比赛时间 is working with intuit to track the trends. “this is the first time we’ve seen downward pressure since 2005 when we started … continued
mid-sized accounting firms step up competition for the heart of the market.
by rick telberg
no one is fighting harder for every new client and every new dollar than the accounting firms in the middle of the market, according to new 卡塔尔世界杯常规比赛时间 research.
nationwide, an astonishing 86% of mid-sized firms (those with five to 15 partners or about 51 to 100 employees) have been stepping up their marketing efforts, according to the new study.
to be sure, firms of all sizes are increasing their marketing activities — from solosists (about 47%), to 2-to-10-person offices (55%), through 11-to-50-person offices (73%), and the more-than-100-persons offices (77%). but it’s in the 51-to-100-person category that the battle seems most heated these days.
digital emerging as chief weapon.
results for the new 卡塔尔世界杯常规比赛时间 study of marketing trends are eye-opening:
accounting firms are rapidly escalating their business-building efforts:
66% of accountants say their firms have been increasing their marketing and business development activities in the last 12 months.
get the full report…
leaving the recession behind with new hiring.
software company ceos and cfos say in a new survey that cloud computing and software-as-a-service will drive spending in their industry over the next 12 months.
the survey also finds most expect their company’s business will grow by at least 20 percent in 2011 and that hiring will increase significantly. the software ceo/cfo outlook 2011 study was conducted by sand hill group and underwritten by adaptive planning and intacct.
other key findings include: read more →
practitioners close the books on a tough tax season.
granted, it wasn’t as bad as the months and years immediately following the financial crash of 2007. but the reviews are mixed.
what was your season like?
join the survey. get the results
we’re still sifting through your comments to add it all up. but here are a few:
read more →
after 0.5% in 2010.
despite what the economists say, a return to “healthy” growth rates and profit increases for accounting firms is “nowhere in sight,” according to marc rosenberg of the rosenberg associates.
based on a nationwide survey of 49 managing partners at “successful, mid-sized firms,” rosenberg tells cpa leadership forum report:
there is no excerpt because this is a protected post.
clients seek broader array of services via cch few concerns weigh more on the minds of accountants than the desire to satisfy, and retain, clients. as cpa firms look to build client loyalty and grow profitability, a new cch nationwide … continued