卡塔尔世界杯常规比赛时间 research

are client services a fourth-rate priority?

there are a few barriers hindering expansion.

by 卡塔尔世界杯常规比赛时间 research

when the thomson reuters 2024 state of tax professionals survey asked 500 professionals in tax and accounting firms what their top priorities were, client services came in fourth, behind efficiency/automation, talent retention/hiring, and pricing/revenue.

more: revenues rising as pricing models evolve | 150 credit hours: helping or hindering? | can’t recruit? retain! | the accountant as a strategic business partner | report: efficiency still the top priority for accounting firms | is tech causing both cpa shortage and low salaries? | audit firms nervous about new tech | what accountants can learn from t-ball | staffing tops list of woes at cpa firms | to replenish the talent pipeline, go back to the classroom | beware the work-life/workload doom spiral | why the dry pipeline? it’s about time
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note how the top three all might be included in a category called “getting your act together.” they basically deal with fine-tuning the accounting firm machine.

putting that machine to work aims at offering more or better client services and, the fifth priority, growing the practice.
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pricing, fees & billing rates

revenues rising as pricing models evolve

boosting your bottom line could come down to better billing.

by 卡塔尔世界杯常规比赛时间 research

one thing cpa practices aren’t complaining about is revenue. according to a thomson reuters survey conducted in the first quarter of 2024, 72 percent of 500 respondents say their firms’ revenues increased over the previous 12 months.

more: 150 credit hours: helping or hindering? | can’t recruit? retain! | is tech causing both cpa shortage and low salaries? | staffing tops list of woes at cpa firms | why the dry pipeline? it’s about time | whole person retention: when it’s not just the money | seven enticements to keep talent on board | disruptors: talent crisis? what talent crisis? | seven steps to a stronger future | auditing standards ‘yellow book’ updated | compensation’s up, but up enough to retain staff?
exclusively for pro members. log in here or 2022世界杯足球排名 today.

average increase: 24 percent.

not bad, if you like money.
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politics & government

pause to praise the tax pro volunteers

they prepared 9.3 percent more returns this year.

by 卡塔尔世界杯常规比赛时间 research

卡塔尔世界杯常规比赛时间 hereby calls for a pause in the post-season doldrums to salute the 67,000 tax pro volunteers and other concerned citizens who helped the needy file their tax returns this year.

more: irs vs. fraudsters | imagine! the national tax advocate does | art werner: maximizing fringe benefits | is the irs mismeasuring phone service? | irs makes big progress but … | tax practitioners say happy days are here … again | the irs is coming! get your clients into compliance | end tax season meetings with clients … seriously | brandon hall: firms try to make too much on tax prep | eight steps to getting started with ai: a guide for tax professionals | ftc nails turbotax for ‘free filing’ scam | if only the irs’s tax pro were useful | id theft a problem for irs even when it doesn’t exist | the nightmare of non-credentialed tax preparers | taxpayer assistance centers: a good idea that should be better | irs still falling short on service | must the irs be a dark hole?
exclusively for pro members. log in here or 2022世界杯足球排名 today.

yes, 67,000. that’s really an impressive number of people. not only are they coming to the rescue of people who, despite their problems and limitations, really want to pay their taxes, but they are doing so during the tax season.
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politics & government

irs vs. fraudsters

the endless war is not going well.

by 卡塔尔世界杯常规比赛时间 research

the fraudsters of the world continue to see the u.s. treasury as a bountiful chest of riches just waiting to be plundered.

it doesn’t take much. a taxpayer’s name, a social security number, a bank account number, maybe an email address, a phone number and a little luck.

more: imagine! the national tax advocate does | art werner: maximizing fringe benefits | is the irs mismeasuring phone service? | irs makes big progress but … | business booming, but not as much as last year | busy season barometer offers clues for better business | tax practitioners say happy days are here … again | the irs is coming! get your clients into compliance | end tax season meetings with clients … seriously | brandon hall: firms try to make too much on tax prep | eight steps to getting started with ai: a guide for tax professionals | ftc nails turbotax for ‘free filing’ scam | if only the irs’s tax pro were useful | tax pros file 33% of early returns | can’t irs online accounts be more useful?
exclusively for pro members. log in here or 2022世界杯足球排名 today.

the irs is used to this. it knows what to do about it.

it just doesn’t do it very well.
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outlook & analysis

150 credit hours: helping or hindering?

one study suggests there is little if any upside but plenty of downside.

by 卡塔尔世界杯常规比赛时间 research

four decades ago, the american institute of cpas promulgated a rule requiring accountants to complete 150 credit hours to qualify for certification, an increase from 120 hours. basically, it required a fifth year of college education.

more: can’t recruit? retain! | the accountant as a strategic business partner | report: efficiency still the top priority for accounting firms | is tech causing both cpa shortage and low salaries? | staffing tops list of woes at cpa firms | to replenish the talent pipeline, go back to the classroom | beware the work-life/workload doom spiral | why the dry pipeline? it’s about time | whole person retention: when it’s not just the money | global trends show many dissatisfied cpas | more big firms shut their doors to new college grads | seven enticements to keep talent on board
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state boards of accountancy had discretion over when to enact the rule. by 2015, all states and u.s. territories had adopted it.

fun fact: the national rule did not impose any requirements on what courses the students had to take. it didn’t have to be courses on tax law or accounting standards. philosophy, music theory or basket-weaving would do. state boards, however, often mandate specific course requirements.
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pro member exclusive

can’t recruit? retain!

other options: outsourcing, m&a, even freelancers with different skill sets.

by 卡塔尔世界杯常规比赛时间 research

there’s no good news coming out of the talent pipeline. there are fewer accounting majors coming in at the college end, and fewer coming out at the cpa exam end.

the reasons are legion. kids these days have little interest in a career reputed to be boring and exhausting. they can make more money in some other area of finance or business. the extra credit hours take too long and cost too much.

more: the accountant as a strategic business partner | report: efficiency still the top priority for accounting firms | is tech causing both cpa shortage and low salaries? | audit firms nervous about new tech | what accountants can learn from t-ball | staffing tops list of woes at cpa firms | to replenish the talent pipeline, go back to the classroom | beware the work-life/workload doom spiral | why the dry pipeline? it’s about time | business model transformation: do it or die | misperceptions, corrections, accountancy and lemonade
exclusively for pro members. log in here or 2022世界杯足球排名 today.

the 2024 thomson reuters state of tax professionals report sums it up with illustrative stats.

39 percent say recruitment will be “highly challenging” in 2024.
another quarter say it will be “somewhat challenging.”
33 percent of firms with four or more employees say talent will be a top priority.

outlook & analysis

tax and accounting priorities shifting in turbulent times

three actions that firms can take.

by 卡塔尔世界杯常规比赛时间 research

a multinational thomson reuters survey of tax professionals has found accounting firms shifting their priorities after a year of unexpected developments and before a year of unexpected developments.

that’s a lot of unexpected developments.

more: report: efficiency still the top priority for accounting firms | is tech causing both cpa shortage and low salaries? | staffing tops list of woes at cpa firms | why the dry pipeline? it’s about time | whole person retention: when it’s not just the money | seven enticements to keep talent on board | disruptors: talent crisis? what talent crisis? | seven steps to a stronger future
exclusively for pro members. log in here or 2022世界杯足球排名 today.

in 2023, the annual survey saw firms and their clients hunkering down for a year of post-covid-19 unknowns, a recession that never came, inflation that wouldn’t quit and interest rates that persisted at uncomfortable heights.

this year, it looks like firms are reassessing where they stand and where they are going. times are turbulent – technologically, economically, politically, environmentally – so recovering from the past and preparing for the future are going to require some changes.
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politics & government

imagine! the national tax advocate does

(you may say she’s a dreamer, but she’s not the only one.)

by 卡塔尔世界杯常规比赛时间 research

one word keeps popping up in national tax advocate erin m. collins’s introduction to her annual objectives report to congress.

the word is “imagine,” and collins’s dream depicts an irs that is a only bit more feasible than john lennon’s dream of a world with no countries or religion.

more: art werner: maximizing fringe benefits | is the irs mismeasuring phone service? | irs makes big progress but … | business booming, but not as much as last year | busy season barometer offers clues for better business | tax practitioners say happy days are here … again | the irs is coming! get your clients into compliance | end tax season meetings with clients … seriously | brandon hall: firms try to make too much on tax prep | eight steps to getting started with ai: a guide for tax professionals | ftc nails turbotax for ‘free filing’ scam
exclusively for pro members. log in here or 2022世界杯足球排名 today.

but you can still sing along …

“imagine a taxpayer or a representative receiving a text message

… or email referring the taxpayer to their online account,
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outlook & analysis

report: efficiency still the top priority for accounting firms

tech’s the tool, but ai? not yet.

by 卡塔尔世界杯常规比赛时间 research

for the second year in a row, the thomson reuters state of tax professionals report finds that improving efficiency is the top strategy priority for accounting firms, but this year, for the first time, it ties with talent.

as the report notes, the two priorities are tightly linked in the sense that efficiency is linked to productivity. the former drives the latter.

more: is tech causing both cpa shortage and low salaries? | audit firms nervous about new tech | to replenish the talent pipeline, go back to the classroom | beware the work-life/workload doom spiral | why the dry pipeline? it’s about time | business model transformation: do it or die | whole person retention: when it’s not just the money | global trends show many dissatisfied cpas | more big firms shut their doors to new college grads | seven enticements to keep talent on board | let interns fix the staffing shortage? | disruptors: talent crisis? what talent crisis?
exclusively for pro members. log in here or 2022世界杯足球排名 today.

the report is based on an international survey of 500 respondents, about half in the united states, with the rest in the united kingdom, canada, australia, brazil and argentina. data comes from the first quarter of 2024.
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politics & government

is the irs mismeasuring phone service?

bad metrics are hiding problems.

by 卡塔尔世界杯常规比赛时间 research

if there’s one nice thing about phoning the irs, it’s the opportunity to take a nap.

taxpayer naps were a little shorter this year, especially for those calling 35 of the 102 toll-free lines, known as enterprise lines, that taxpayers can call for assistance. those 35 lines are for accounts management (am) issues.

more: is tech causing both cpa shortage and low salaries? | audit firms nervous about new tech | what accountants can learn from t-ball | staffing tops list of woes at cpa firms | to replenish the talent pipeline, go back to the classroom | beware the work-life/workload doom spiral | why the dry pipeline? it’s about time | business model transformation: do it or die | misperceptions, corrections, accountancy and lemonade
exclusively for pro members. log in here or 2022世界杯足球排名 today.

thanks to a mandate from the secretary of the treasury, the irs hired 7,000 customer service representatives to handle the am lines.
read more →

outlook & analysis

is tech causing both cpa shortage and low salaries?

dot chart — the number of accounting degree completions from bachelor’s programs from 1994-2021. source: 2023 aicpa trends report

there’s a paradox going on.

by 卡塔尔世界杯常规比赛时间 research

a working paper by three academics presents a paradoxical contradiction in the accounting industry. somehow, technology, which is starting to replace some accounting functions, is causing a shortage of accounting professionals. and despite the high demand for the few graduates who major in accounting, starting salaries are lower than in related professions.

more: audit firms nervous about new tech | what accountants can learn from t-ball | staffing tops list of woes at cpa firms | to replenish the talent pipeline, go back to the classroom | beware the work-life/workload doom spiral | why the dry pipeline? it’s about time | business model transformation: do it or die | misperceptions, corrections, accountancy and lemonade | whole person retention: when it’s not just the money | global trends show many dissatisfied cpas | more big firms shut their doors to new college grads
exclusively for pro members. log in here or 2022世界杯足球排名 today.

and in a related paradox, technology’s most powerful tools may be augmenting the accountant’s workload.

how can all this be concurrent?
read more →

politics & government

irs makes big progress but …

problems remain. (shocked, we are.)

by 卡塔尔世界杯常规比赛时间 research

national taxpayer advocate erin m. collins has plenty of good things to say about the irs in her annual objectives report to congress.

more: the irs is coming! get your clients into compliance | end tax season meetings with clients … seriously | brandon hall: firms try to make too much on tax prep | eight steps to getting started with ai: a guide for tax professionals | ftc nails turbotax for ‘free filing’ scam | if only the irs’s tax pro were useful | can’t irs online accounts be more useful? | id theft a problem for irs even when it doesn’t exist | the nightmare of non-credentialed tax preparers | taxpayer assistance centers: a good idea that should be better | irs still falling short on service
exclusively for pro members. log in here or 2022世界杯足球排名 today.

“the irs largely succeeded in 2024,” collins writes regarding this year’s tax season. “after several years of abysmal taxpayer service during the covid-19 pandemic, the irs has now delivered two filing seasons that demonstrate the agency has restored service to pre-pandemic levels and has improved in most, but not all, areas of service. this is excellent news for most taxpayers.”
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mergers & acquisitions

aprio sells majority stake to charlesbank pe

kopelman

aprio is breaking off its cpa firm after reportedly selling a majority stake to charlesbank capital partners, a private equity firm.

already on a growth-by-acquisition streak, aprio has logged dozens of deals in the last few years. with fresh cash on hand, this pace is sure to accelerate.

more richard kopelman talks with rob brown on accounting influencers

aprio plans to adopt an “alternative practice structure,” with aprio llp as the legacy licensed cpa firm and aprio advisory group llc as the new pe-backed acquisition engine. read more →

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