{"id":80955,"date":"2021-02-05t11:00:27","date_gmt":"2021-02-05t16:00:27","guid":{"rendered":"https:\/\/48e130086c.nxcli.net\/?p=80955"},"modified":"2021-03-01t09:10:36","modified_gmt":"2021-03-01t14:10:36","slug":"4-big-issues-that-firms-face","status":"publish","type":"post","link":"\/\/www.g005e.com\/2021\/02\/05\/4-big-issues-that-firms-face\/","title":{"rendered":"4 big issues that firms face"},"content":{"rendered":"
<\/a><\/em>plus: how the merger picture hasn\u2019t changed.<\/strong><\/p>\n by marc rosenberg<\/em> an extraordinarily perfect storm was experienced by cpa firms in 2020: the endless tax season plus<\/strong> the virus. in mid-july, five months after the virus\u2019s onset, no one knew anything<\/strong> for sure going forward \u2013 neither the science of the virus and people\u2019s health nor the economic impact of the virus on the business world.<\/p>\n more:<\/b> pandemic highlights value of digital files<\/a> | remote work success helps solve staffing shortages<\/a> | you like being remote, but what about your clients?<\/a> | covid-19 shakes up m&a activity<\/a> | we adapted to remote work \u2026 now what?<\/a> here is data from a survey we took of 61 cpa firms in mid-june. virtually all firms had annual revenue of $35 million or less, with the average being about $10 million. it is important to understand these firm sizes because the top 25-50 firms were making more drastic operational moves (mainly layoffs and partner draw reductions) than typical local cpa firms.
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