bissett bullet: it’s free, now will you buy it?
today’s bissett bullet: “giving away your knowhow for free to potential clients can be dangerous.”
by martin bissett
see more bissett bullets here
surveys & research
price advisory work by value delivered, not time spent
accept your inherent value and don’t compromise.
by jody padar
the radical cpa
as a professional in the industry, you may find some of what you do easy. just because you find it easy doesn’t mean it isn’t valuable and worth more than the time you put into it. if it were truly easy, your clients would be doing it themselves rather than paying you.
more by jody padar
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undervaluing ourselves and what we bring to the table is a chronic problem plaguing accountants and cpas. why do i say this? because people pay more for the luxuries they value. let’s look at a comparison:
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art werner: empower strategic giving | quick tax tip
unlock the full value of charitable contributions with one of the tax code’s most underused tools.
sponsored by “turbocharge your profits: how to thrive in the new economy,” by frank stitely, cpa, cva – see today’s special offer
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quick tax tip
with art werner
cpe today
what if you could give more, support your favorite causes for years to come, and still walk away with a sizable tax deduction—all in one smart move?
that’s the opportunity donor-advised funds (dafs) present, and the latest quick tax tip brings clarity to a concept many donors and advisors overlook.
“a donor-advised fund, by itself, is a charity,” werner explains. “but the contribution we make to it is deductible within irs limits—and what’s really nice is you can lump your giving up front and spread it out over time.” read more →
tax pros rev up filing pace as diyers lag
the irs changes how it tallies website traffic.
by beth bellor
tax professionals have held the e-filing edge over diyers this season, and now they’ve surpassed their own 2024 rate for the first time.
more: tax returns nearly match 2024 rates | tax pros edge diyers in e-filings | tax refund totals up 7% | tax pros handle 46% of e-filings | tax refund totals up 10% | tax refunds plummet, but no worries | tax refunds up 18% early on | first tax filing reports are in
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the irs received 89.6 million individual income tax returns, down 0.8 percent from the comparable period in 2024 ending march 28. it processed 88.5 million returns, down 0.3 percent. tax professionals are holding on to a half-point lead in market share over diyers, with about 51.3 percent of total returns filed so far this year against 51.8 percent a year ago. read more →
sixteen qualities of the best tax clients
do you appreciate what you have?
by ed mendlowitz
tax season opportunity guide
clients are our customers who pay our salaries and present us with stimulating opportunities, allowing us to grow.
there is no such thing as a bad or nuisance client – although there are clients who sometimes do bad or nuisance things.
more by ed mendlowitz
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following is a listing of what makes a good client.
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shorter turnaround = happier tax clients
do you know your turnaround time?
by frank stitely
the relentless cpa
todd rundgren sang, “i don’t want to work. i just wanna bang on the drum all day.”
i agree with half of that. i don’t want to work. however, i want someone else to bang on the drum all day for me. i’m not that ambitious.
the key to achieving hall of fame-level laziness is delegation.
more by frank stitely
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if i have no ambition to do anything, but want things to get done, someone else must do them. similarly, effective practice management is putting the right people in the right places accomplishing the right tasks at the right times. that’s a pretty damn good definition of effective laziness as well. there’s a subtle genius in that.
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six keys to successful proposals
plus seven things you should not do.
by martin bissett
passport to partnership
liz scott: bookkeepers may beat cpas in the race to advisory | the disruptors
the real value of accounting isn’t in the numbers but in the conversations we’re not having.
this is a preview. the complete 1-hour video episode, with commentary and transcript, is first available exclusively to pro members | go pro here
sponsored by “turbocharge your profits: how to thrive in the new economy,” by frank stitely, cpa, cva – see today’s special offer
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the disruptors
with liz farr
liz scott, like many other disruptors, prefers keeping her firm small. “i did try and grow my firm to this million-dollar firm. and i found myself in a spot where i was managing 10 team members, and that’s all that i had time for,” she recalls. “so i wasn’t able to do the thing that i actually really love, which is the tech development. i love that piece.”
more podcasts and videos: ashley francis: ai’s a partner, not a replacement | richard roppa-roberts: collaboration over competition | ira rosenbloom: m&a numbers are easy – culture fit is hard | roman villard: ditch the suit & shine | monique swansen: align firm values with services | tina mcgill: how to create lasting client impact | stefan van duyvendijk: develop operational mindset | steve evans: why traditional hiring methods fail | roger knecht: can you be an accountrepreneur? | beth whitworth: focus on outcomes not hours |mike sylvester: learn to say no | salim omar: identify your client’s $100,000 problem | jackie meyer: earn more with fewer clients | jack fleherty: don’t be a ‘yes’ person | greg adams: from finance to storytelling | the disruptors | jody padar: make radical changes now if you want to be relevant in 2030 | rebecca driscoll: amplify reach by helping other firm owners | rory henry: create the return on relationships | mike maksymiw: be the leader you wish you had |
her firm, accounting lifeline, serves as an incubator across various industries and technologies so she and her team can test different apps. at the same time, the consulting side of her business, liz scott training and consulting, dives in deeper to spend time testing apps and giving feedback to developers.
scott was attracted to accounting because she wanted to help other entrepreneurs in her family understand and grow their bottom lines. “if you’re going to be spending time working, how do you maximize your efforts? so how can you make the most money in the least amount of time?”
rethinking audits: shift to advisory
move from quality control to quality assurance.
by alan anderson, cpa
transforming audit for the future
for decades, a&a has stood for audit and accounting. it’s been focused on compliance. but sooner than we may want to believe, business owners and stakeholders will be using technology to provide the assurance they need.
this is already happening. to remain viable, we need to move a&a from audit and accounting to assurance and advisory.
more by alan anderson
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now all auditors take the quality control standards of our profession seriously. but quality control that only happens at the end is more about satisfying the minimum requirements for compliance. it won’t let you move out of providing the commodity service that clients need to keep their stakeholders happy. quality at the end doesn’t provide an opportunity to really look under the hood and think about what the client really wants.
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divakar vijayasarathy: breaking barriers and scaling success | the concierge cpa
“every problem looks big from a distance, and every opportunity looks small.”
this is a preview. the complete 1-hour video episode, with commentary and transcript, is first available exclusively to pro members | go pro here
sponsored by “turbocharge your profits: how to thrive in the new economy,” by frank stitely, cpa, cva – see today’s special offer
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the concierge cpa
with jackie meyer
for 卡塔尔世界杯常规比赛时间
for many, the road to success is paved with incremental progress. for divakar vijayasarathy, it was forged through sheer resilience, entrepreneurial grit, and an unyielding vision. in this episode of the concierge cpa podcast, the founder and ceo of dvs advisory group discusses his inspiring journey from the slums of chennai to leading a multimillion-dollar international firm operating across four countries.
vijayasarathy’s story is nothing short of remarkable. raised in challenging circumstances in india, he excelled in accounting, passing one of the most grueling exams with a pass rate of just 0.3%. after securing high-profile positions, including at citibank, he felt stifled in employment and pursued his entrepreneurial aspirations.
ten tax deductions for senior citizens | listicle
subscriptions beat aum and hourly fees for wealth management
make clients feel like members.
by rory henry
the holistic guide to wealth management
recently i listened to a lively debate about financial advisor compensation between ramit sethi, author of the best seller “i will teach you to be rich,” and michael kitces, host of the financial advisor success podcast. sethi was highly critical of the traditional 1 percent of assets under management (aum) model that so many wealth advisors charge. instead of 1 percent of aum, sethi argued that advisors should think of themselves as accountability partners (i.e., personal trainers for clients’ money) and instead charge them based on how they help them modify their behaviors to produce better outcomes.
more: tax advisory services: a pathway to greater financial freedom | raise your rates to change your clientele | pursue excellence to win the battle for talent | leverage ai to grow and protect revenue: six steps | how wealthtech is reshaping the future of holistic advice | seven tech keys to a holistic service model | four ways to provide wealth management in your accounting practice | profile of a modern firm: putting the vision into practice | toward a 21st-century cpa: a dynamic vision | why cpas are best positioned to become financial advisors | introducing you to a fulfilling return on relationships | rory henry upends the traditional accounting firm | why now is the time for cpas to embrace wealth management
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for instance, a good advisor can help clients adopt good behaviors such as saving more of every paycheck and sticking to their investment plan during volatile times. good advisors, said sethi, also help clients from engaging in their old wealth-destructive behaviors such as speculating on hot stocks in the news or cashing out of the market at the first sign of trouble. by the way, helping clients modify behaviors and produce better outcomes is what an advis-ror™ does.
let’s explore how an aum/subscription model using a virtual family office is a win for both firms and the clients they serve.
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john fenton: unlock leadership gold | accounting influencers
sought-after coach shares key philosophy and four daily rituals for effective leadership.
sponsored by “max: maximize productivity, profitability and client retention” by august j. aquila – see today’s special offer
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accounting influencers
with rob brown
leadership is a journey that starts within.
in the latest episode of accounting influencers, john fenton, a former managing partner at bdo usa and a seasoned leadership consultant, discusses what it truly takes to lead in today’s complex professional environment. known as the “ceo sensei,” fenton brings a unique blend of corporate leadership, athletic experience, and martial arts mastery to his philosophy on leadership.
fenton’s insights go far beyond traditional management techniques, diving into the inner game of leadership, mindset, and self-awareness. as he puts it, “everything starts with you as a leader—the mindset you convey shapes your team.”