{"id":5495,"date":"2009-11-16t23:28:31","date_gmt":"2009-11-17t03:28:31","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=5495"},"modified":"2024-11-19t21:49:19","modified_gmt":"2024-11-20t02:49:19","slug":"economy-weighs-on-busy-season-outlook","status":"publish","type":"post","link":"\/\/www.g005e.com\/2009\/11\/16\/economy-weighs-on-busy-season-outlook\/","title":{"rendered":"economy weighs on busy season outlook"},"content":{"rendered":"

still, many cpas see a better year ahead. <\/strong><\/p>\n

by rick telberg<\/em><\/p>\n

cpas appear to be headed into busy season 2010 with cautious optimism that this year will be better, or at least no worse, than last year\u2019s, when the economy seemed to be careening out of control.<\/p>\n

a survey of 151 professionals shows that 38 percent of respondents expect the 2010 busy season to be \u201cbetter than last year,\u201d compared with 22 percent who are bracing for one \u201cworse than last year.\u201d the rest, 40 percent, expect \u201cabout the same\u201d according to the 卡塔尔世界杯常规比赛时间 poll by bay street group llc for the aicpa insider.<\/p>\n

michael kelfer of kelfer & associates in granada hills, calif., may not be typical of every tax practitioner when he reports a surge in referral business buoying his outlook for tax season. yet, he\u2019s wary. \u201ci think the economy is still suffering and i do not see any relief in the near future.\u201d his strategy is simple: \u201cservice. service. service.\u201d<\/p>\n\n\n\n
\n

busy season 2010: what to expect?<\/strong><\/p>\n

how to get ready?<\/strong><\/p>\n

join the survey; get the results<\/a>.<\/strong><\/p>\n

(free. confidential.)<\/strong><\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

among those preparing for a more difficult year is jerry l. eden, at eden, sprowls & co. in elk city, okla., which, he describes as \u201can area where oil and gas activity dictates revenue.\u201d<\/p>\n

eden\u2019s anxiety and anger surfaces easily when you ask him about the business situation. \u201cthe downturn seems to be leveling out, depending on what segment of the business world you\u2019re in.\u201d but he\u2019s \u201cnot sure how things can improve substantially if jobs continue to be shifted to foreign countries.\u201d jerry is going to do what he knows how to do best: focus on \u201ccontinued hard work and knowledge.\u201d<\/p>\n

at this early stage of planning, it\u2019s clear that the general economic situation tops the list of chief concerns this year, with 62 percent of practitioners mentioning it, followed by late or unprepared clients and getting up-to-date on the new tax issues.<\/p>\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
chief concerns for busy season 2010<\/strong><\/span><\/td>\n<\/tr>\n
general economic situation.<\/span><\/td>\n62%<\/span><\/td>\n<\/tr>\n
clients late or unprepared.<\/span><\/td>\n48%<\/span><\/td>\n<\/tr>\n
getting up-to-date on new tax issues.<\/span><\/td>\n41%<\/span><\/td>\n<\/tr>\n
tax code changes.<\/span><\/td>\n38%<\/span><\/td>\n<\/tr>\n
setting aside enough time to plan.<\/span><\/td>\n30%<\/span><\/td>\n<\/tr>\n
late or erroneous k1s, 1099s, etc.<\/span><\/td>\n26%<\/span><\/td>\n<\/tr>\n
personal or family issues.<\/span><\/td>\n23%<\/span><\/td>\n<\/tr>\n
getting up-to-date on new office, technology or software\u00a0processes.<\/span><\/td>\n21%<\/span><\/td>\n<\/tr>\n
finding good staffers.<\/span><\/td>\n20%<\/span><\/td>\n<\/tr>\n
irs operations.<\/span><\/td>\n17%<\/span><\/td>\n<\/tr>\n
partner or office issues.<\/span><\/td>\n17%<\/span><\/td>\n<\/tr>\n
making plans correctly.<\/span><\/td>\n16%<\/span><\/td>\n<\/tr>\n
technology\/software problems.<\/span><\/td>\n15%<\/span><\/td>\n<\/tr>\n
competition from others.<\/span><\/td>\n12%<\/span><\/td>\n<\/tr>\n
getting up-to-date on new accounting and auditing issues.<\/span><\/td>\n12%<\/span><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

(source: cpa trendlines survey by bay street group llc for the aicpa insiders)<\/span><\/em><\/p>\n

as uncertain as the economy appears, and as difficult as it may be, accountants remain more optimistic for themselves than the economy-at-large or even some of their own clients. only 12 percent rate busy season at all positively for the nation\u2019s economy in general, with more than half (54%) expecting further deterioration.\u00a0 less than a quarter (19%) see upticks in the next few months for their clients and customers, but more than a third (39%) see declines.<\/p>\n

that said, more than one in three (38%) accountants see improvements in their own firms and businesses, while less than one in four (22%) are bracing for tougher times. and, personally, when it comes to their own families and themselves, more than one in four (29%) accountants are optimistic for their economic lives at home, with 23 percent expecting conditions to worsen.<\/p>\n

terence niewolny of white bear lake, minn., doesn\u2019t claim to be an economist or even to own a crystal ball. but he voices a common opinion when he says, \u201c2010 will be fairly flat,\u201d and the \u201ceconomy won\u2019t turn around until the second or third quarter of 2011.\u201d<\/p>\n

on the other hand, he\u2019s still hoping to get enough business this tax season to put on some additional part time help. let\u2019s hope he\u2019s wrong about how long it will take the economy to get going and that he\u2019s right about needing more help this tax season.<\/p>\n

copyright 2009 aicpa<\/h6>\n","protected":false},"excerpt":{"rendered":"

still, many cpas see a better year ahead. by rick telberg cpas appear to be headed into busy season 2010 with cautious optimism that this year will be better, or at least no worse, than last year\u2019s, when the economy … continued<\/a><\/p>\n","protected":false},"author":17,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_relevanssi_hide_post":"","_relevanssi_hide_content":"","_relevanssi_pin_for_all":"","_relevanssi_pin_keywords":"","_relevanssi_unpin_keywords":"","_relevanssi_related_keywords":"","_relevanssi_related_include_ids":"","_relevanssi_related_exclude_ids":"","_relevanssi_related_no_append":"","_relevanssi_related_not_related":"","_relevanssi_related_posts":"","_relevanssi_noindex_reason":"","footnotes":""},"categories":[2303,1908,5,2246,2306],"tags":[98,700,252,93,1124,77,120],"class_list":["post-5495","post","type-post","status-publish","format-standard","hentry","category-tax-season","category-management","category-outlook","category-busy-season","category-tech-and-fintech","tag-busy-season","tag-client-service","tag-recession","tag-management","tag-partnership","tag-tax-season","tag-tech"],"acf":[],"yoast_head":"\neconomy weighs on busy season outlook - 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