by ed mendlowitz, cpa, abv, pfs
the 30:30 training method
question: i know you have a lot of advice on how to review tax returns. what’s your single best tip?
response: i had never thought about this until this question was asked.
five things you need to know and three things you need to do.
by frank stitely, cpa
stitely and karstetter
get ready for a transformation in the tax business unlike anything we have experienced since turbotax. the transformation will force many of your colleagues to sell, retire, or go out of business. it will force many of your staff out of the profession. it will change the way you serve clients. and, it will either result in tremendous opportunity for you or end your practice. this transformation is zero data entry.
more stitely: three trends that will transform your tax practice or eliminate it | value, billem & dunn: a value billing case study | why value billing won’t transform your life | the problem with frank stitely? we need more frank stitelys! | the problem with timesheets? not enough timesheets! | who’s missing in action from your workflow processing system? | how to make an extra $72,000 by working smarter read more →
“worst tax season ever.” “the death of the 1040 practice.” “i’m retiring.”
by frank stitely
since the end of tax season, cpas voiced apocalyptic concerns. you can blame this latest meat grinder of a tax season on congress, competition from turbotax, and the irs.
or you can recognize that three trends are converging that will either transform your practice or eliminate it. read more →
taxpayers surge into e-filing.
growth in do-it-yourself electronic filing of tax returns is advancing by more than 4% this year. but among tax professionals, it’s flat this year, after a 3% decline last year.
seven hot topics that “pushed a button.”
tax guru bob jennings (cpa, ea, cfp, and rtrp) has been polling past attendees of his cpe seminars about tax season 2013.
clearly, tax professionals are still seething. “we sent our survey out and it must have pushed a button because the responses overwhelmed our servers,” says jennings, taxspeaker.com.
the results may not surprise you. but they are sobering nevertheless.
he offers new data on
here are the highlights so far: read more →
a new 卡塔尔世界杯常规比赛时间 analysis of long-term tax season activity shows how tax professionals may be working harder and enjoying it less. we’ll let two charts speak for themselves.
– rick telberg
even as tax professionals have been increasing the number of e-filed tax returns…
the nation’s tax accountants failed in the final days leading up to april 15th to close the gap commonly attributed to early-season delays and confusion, according to the latest data available.
but if the shortfall holds through coming weeks of data gathering, 卡塔尔世界杯常规比赛时间 believes it could mark a significant and serious downturn in the future of the tax prep industry.
in this report:
true or false: you had the worst tax season of your life this year.
new data obtained by 卡塔尔世界杯常规比赛时间 shows that 84 percent of small-business owners are now paying an independent tax practitioner or accountant to handle their taxes.
in addition, an increasing number of small business taxpayers appear to be taking advantage of sec.179 expensing and bonus depreciation.
the new report available from 卡塔尔世界杯常规比赛时间 includes information on:
those who know ed mendlowitz, author of the 卡塔尔世界杯常规比赛时间 tax season opportunity guide, know that he doesn’t like extensions. however, there are valid reasons for extensions.
ed grudgingly admits to 12:
at this rate, practitioners may be on track to make the april 15 deadline, but just barely. at the same time, the number and proportion of self-prepared returns continues to rise. it has been estimated that between 2010 and 2012 some 12 million taxpayers dropped out of the paid-preparer market to go to do-it-yourself software programs. and that trend is clearly continuing.
in this report: the box score so far this season, compared to year-ago periods. read more →
practitioners should consider how many of these mistakes they might be making right now, from ed mendlowitz, cpa and author of “the tax season opportunity guide.” read more →
by ed mendlowitz
adapted from the 2013 tax season opportunity guide
one way to guarantee extra work is to have everything always done differently each time it is done.
not establishing uniform procedures is bad business and unnecessarily consumes part of your life.
consistency in performance reduces work and review time and creates a greater reliance on the staff people.
checklist: read more →
