the small firm and solo practice

pandemic? what pandemic?

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how some firms are flourishing in the new normal.

the accounting firm operations and technology survey

one of the benefits of an annual report such as the accounting firm operations and technology survey is the opportunity to see not only the current sentiments but those from years before. sometimes, though, new issues arise and are momentous to warrant inclusion via a new question … as when covid-19 crashed onto the scene.

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more: m&a looms large for 30% of firms | today’s top 3 tech problems: security, client onboarding and workflow | today’s top 3 management problems: staffing, workflow and tech
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of those working at home for the first time, by far the largest group fell into large firms of 51 to 100 employees, where 93.3 percent were new to remote work. medium and extra-large flanked them in those results, at 51.9 percent and 47.1 percent respectively. see table: read more →

m&a looms large for 30% of firms

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most solos are happy as they are.

the accounting firm operations and technology survey

mergers and acquisitions for growth are on the minds of 30% of accounting firms, whether within the next year or further out. however, 56% have no such inclination and say a flat “no” to the prospect.

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more: today’s top 3 tech problems: security, client onboarding and workflow | today’s top 3 problems: staffing, workflow and tech
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for some firms, of course, these activities are options to be acquired. medium firms (11-50) top that interest at 9.6%, while 5.1% of small firms and 3.1% of solos are investigating their options, in the table below.

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today’s top 3 tech problems: security, client onboarding and workflow

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process automation and tech strategy make the list.

the accounting firm operations and technology survey

security and risk management top the list of technology issues challenging accountants, but they’ve dropped over the past year. meanwhile, there’s growing concern over business process consistency and cost reduction.

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firm size plays a role. the largest firms register uniform business processes and integration challenges as their roughest points, while those rank at the low end for solos, who fret more over security and risk management.

both ends call out application updates more than those in the middle, and training worries mid-size firms more than anyone else.

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today’s top 3 problems: staffing, workflow and tech

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cybersecurity, competing for clients and lagging profits make the list.

recruiting and retention may lead the list of issues accountants are facing. but problems in managing workflow have almost doubled in the last year.

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and, while firms of all sizes share many of the same problems, there are stark differences through the spectrum of solo operators to the largest firms. for instance, about two-thirds of firms with 11 to 100 employees rate staffing as their chief concern, but larger firms aren’t having nearly as much trouble. the mid-size firms are leading in solving the workflow dilemmas, while the largest and smallest firms at opposite ends of the spectrum are having considerably more trouble.

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five skills that spell success

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and none are tax or accounting.number 5 drawn in sand

by sandi leyva
the complete guide to marketing for tax & accounting firms

we’ve worked hard on gaining our accounting tax and auditing skills. those skills alone will keep us working as employees for someone else, but what if we want to go out on our own or grow our business beyond what we have now?

more: the seven-step plan for marketing by spreadsheet | five things clients have taught me | beyond compliance: what more you can provide
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here are five skills to consider adding to your toolbox to get ahead faster.

how do you rate in each of these areas?

read more →

the growing pains of a small firm

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the lessons every firm needs to learn.

by ed mendlowitz
call me before you do anything: the art of accounting

“cpa firm grows prosperous by heeding its own advice.” the wall street journal published an article with that title in their may 18, 1981 issue about my firm, and this column describes some of what we did.

more: giving clients the best you’ve got | why map programs are essential | making sure the son got proper credit | family trees of clients | why accountants quit | when siblings battle over the family business | how bickering can ruin a family business
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the article began by stating there were about 28,000 cpa firms in the u.s., with about 19,000 being sole practitioners and many others with just two or three cpas. these numbers are lower than now, so the profession and small firms have grown significantly in the last 40-plus years.
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the seven-step plan for marketing by spreadsheet

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using excel spreadsheets, with a bunch of numbers, adding in some deadlines, and creating a very organized process, is just how we accountants like things.

by sandi leyva
the complete guide to marketing for tax & accounting firms

it’s quite common for accounting firms – even the regionals – to have no marketing plan in place.

more: five things clients have taught me | beyond compliance: what more you can provide | the biggest seo secret of all: google business listings | five ways to get better clients | how clients get underserved and accountants get underpaid
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the marketing plan might very well be, “get as many referrals as we can.”

or it might be a number for each partner – which is not a marketing plan.

or it might be, “if it’s not busy season, i’ll go to my networking group.”

none of these are plans. they are individual marketing tasks and components.

read more →

five things clients have taught me

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they’ll tell you what they want if you just listen.

by sandi leyva
the complete guide to marketing for tax & accounting firms

i feel extremely fortunate to have such a wonderful set of clients that i have learned much from the last few years.

more: boost your cross-selling in two easy steps | why your social media is a flop | the biggest seo secret of all: google business listings | beyond bookkeeping: five value-add service areas | beyond quickbooks: wowing your clients
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

here is a list of lessons learned that i hope will inspire you to work with your clients in new ways.

lesson 1: help clients with what they dislike

although not all clients dislike writing, i’ve found that the majority of professionals in financial fields appreciate getting help with their writing. what took me a while to learn was the degree to which many wanted help, and what worked the best is to provide sample letters, emails, and marketing materials that was as close to their situation and as complete as possible.

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beyond compliance: what more you can provide

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businesspeople having a meeting over coffee sitting together at a table discussing a document, young man and two middle-aged women presentbeat the billable hour … and let your clients know all your offerings.

by sandi leyva
the complete guide to marketing for tax & accounting firms

as compliance services become more commoditized and automated, accountants face the impacts on their practice and bottom line. they can:

more: boost your cross-selling in two easy steps | why your social media is a flop | the biggest seo secret of all: google business listings | how clients get underserved and accountants get underpaid
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

  1. serve a higher level client that requires greater complexity, making themselves fairly immune to these changes
  2. serve a larger number of clients to offset a drop in revenue per client averages
  3. add new services to their practice to boost revenue per client

read more →

four ways to reboot for the new realities

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dollar being built of blockswhen things aren’t turning out the way you dreamed, it’s time to think about an overhaul. here’s how to start

by sandi leyva
the complete guide to marketing for tax & accounting firms

how does your current business look compared to the one you dreamed about before you started your entrepreneurial journey?

more: boost your cross-selling in two easy steps | why your social media is a flop | the biggest seo secret of all: google business listings | beyond bookkeeping: five value-add service areas
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

do you now have clients you love, a dream team, the financial rewards you are comfortable with, and plenty of free time?

if not, don’t give up. you can still get there, and a little business clarity may help you get there even faster.

here are four steps:

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the hidden cost of interstate sales tax

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most small businesses are probably paying too much. or, too little. who knows?

s.a.l.t. for the wounds: the total estimated hours per month spent on tax management activities, by industry, with retail the highest at 209 hours. (avalara/potentiate)

by 卡塔尔世界杯常规比赛时间

the true cost of interstate sales tax compliance borne by small businesses is fast mushrooming into a problem of national proportions, according to new research. and while it may be a big opportunity for accounting firms, most small business owners are probably spending too much, or just as worrisome, too little.

more on salt: when tax collectors go digital | tax regs for the metaverse | sales & use tax costs are higher than anyone thought | survey: nobody loves the wayfair decision | accountants to small biz: ‘be nimble, be quick, be careful’ | turn client wants into needs | the 15 absolutely necessary services for cas clients | a job description for client accounting services | salt: the small business disaster waiting to happen | survey: rough seas ahead for small business |

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according to a 卡塔尔世界杯常规比赛时间 survey, 39 percent of accountants believe their small business clients were “mostly not in full compliance” with cross-border collection and remittance requirements. each of those non-compliant clients is a potential problem and an opportunity for their accounting firm.

now a new avalara-sponsored survey looks more closely at “emerging small businesses” (esbs) with under 20 employees, and small and medium-sized businesses (smbs) with 20-50 employees. read more →

boom! covid drives startups

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small-business start-up rate running 50% higher than pre-pandemic. (via zapier)

71% plan to continue with their new ventures.

by 卡塔尔世界杯常规比赛时间

as the world bemoaned the cruelty and inconvenience of the covid-19 pandemic, a lot of entrepreneurs were making the best of times in the worst of times.

the result: a lot of new small businesses. and each one is an opportunity for an accountant.

more outlook & analysis: accountants critical of competitor price-cutting | are you under-pricing your client accounting services?  | stop complaining and start innovating | five tough-love strategies for 2022 | survey: tech is the path to a better tax season | private equity at the gates | top 20 trends for the year ahead | sales & use tax costs are higher than anyone thought |

goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

the pandemic years have seen a huge spike in not just covid-19 cases but new business creation, a breathtaking increase of 50 percent, according to a survey from zapier, the software automation company. it started just as existing businesses went into lockdown, and the trend isn’t stopping any more than the virus is.
read more →