today's features
client accounting services

cas takes ‘trusted advisor’ to another level

businessman using internet on smartphone and laptop

true communication is the key.

by hitendra patil
client accounting services: the definitive success guide

a successful client accounting services practice requires increased interactions with clients. your usual non-cas methods of client communications are not sufficient to meet the demands and expectations of your cas clients. you must leverage new tech tools to reach out, communicate and collaborate with clients more frequently.

more by hitendra patil
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some accounting software can help you automate client notifications (by email/text) based on customized triggers set up in the software. similarly, automated payroll software can keep clients informed automatically. mobile apps of core accounting software are becoming a necessity to deliver client service and communications.

why?
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growth strategies

how to define your vision

build a practice, not just a job.

by jackie meyer

we’ve explored the spark that ignited your entrepreneurial journey. now, let’s give that spark direction and purpose. building a successful advisory practice isn’t just about working hard; it’s about working smart. and that starts with having a clear vision.

more: how i became an accidental entrepreneur  | build a seven-figure firm in four hours a week
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vision is more than just a lofty idea; it’s a necessity. it’s the guiding force that dictates not only what you want, but also what your team should strive for daily. your vision is the picture of your ideal practice, your ideal lifestyle and your ideal impact. it’s your north star, providing direction and inspiration – especially when day-to-day challenges feel overwhelming.
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mergers & acquisitions

behind sorren’s roll-up: $170 million, 1,000 employees, 85 partners

sorren seeks to redefine the profession’s future.

consolidated: sorren, member firms, kuramoto, and prager

by 卡塔尔世界杯常规比赛时间 research

backed by dfw capital partners, meridien, idaho-based harris & co. cpas is leading a roll-up with 12 other firms to create sorren, a new top-50 firm with $170 million in revenue, 85 partners, more than 1,000 employees, and 20 offices across the u.s.

more mergers & acquisitions | ira rosenbloom: m&a money’s easy – culture fit’s hard | the disruptors | how private equity is impacting accounting | deals 2024: over 100 cpa firm mergers and acquisitions | want to merge? here are 23 things to request | richard kopelman: inside aprio’s bold | allan koltin: how small firms can thrive against pe-powered competitors | gear up for growth makeover | accounting influencers | should you merge? here’s how to chart your path | exclusive: eisner ceo charly weinstein explains the private equity deal | flash briefing: a “call to arms” after private equity deal

see the private equity dealflow timeline here | more private equity ‘s incursion into accounting here

the sorren platform is backed by dfw capital partners, which acquired harris & co. in january 2024. the investment in harris remains the private equity firm’s only publicly disclosed deal in the accounting sector. dfw focuses on lower middle-market business services and is leveraging harris as the foundation for building a national accounting and advisory enterprise.

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about us

bissett bullet: change is an internal factor

today’s bissett bullet: “when an accounting firm wants to achieve positive change, we need to understand that the ‘change agents’ are in the firm already.”

by martin bissett

as good as a consultant, trainer, mentor, coach or speaker may be they will not be with you after 6 o’clock in the evening. the change that happens in your firm the next day, next month and the next quarter is carried out by the people who work in your firm, even if that’s just you on your own.

we must understand that external help is a catalyst. they accelerate the change but the change agents, the ones responsible for it, are found internally within the firm. never bring in outside help on the belief that everything is going to change by their presence. they will provide accountability, but it is you who will make it happen.

today’s to-do:

look at where your firm is weakest today in terms of practice growth. take a look at who is the best in the business at helping solve that problem, then make an inquiry.

see more bissett bullets here

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leadership

cancel culture or curious culture? you choose. | transformation talks

turn communication breakdowns into trust-building moments. 

sponsored by 卡塔尔世界杯常规比赛时间 pro membership, where accounting pros go pro  – see today’s special offer

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transformation talks
with donny shimamoto
center for accounting transformation

in the latest episode of transformation talks, host donny shimamoto, cpa.citp, cgma, leads a powerful discussion on “assumed discrimination”—the cultural collisions that happen when others project bias onto someone’s words or actions. 

more transformation talks

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

joining him are arianna campbell, coo of boomer consulting; ed kless, co-founder of threshold and co-host of the soul of enterprise; and amy welch, apr, cae, mission advocacy strategist with the center for accounting transformation and svp/executive producer for 卡塔尔世界杯常规比赛时间. 

the episode begins by reframing how we talk. “discussion” implies conflict, while “dialogue” is about listening. “the origin of ‘discussion’ is literally ‘to strike,’” says kless. “but dialogue means ‘twin telling.’ that shift in mindset is everything.” 

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personal financial planning

art werner: the hidden perk most miss | quick tax tip

the retirement planning hack can be a secret weapon for tax-free growth.

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

when most people hear “hsa,” they think of medical expenses and high-deductible health plans. but in the latest episode of quick tax tip, tax educator and attorney art werner urges tax professionals—and their clients—to look deeper.

click here for more art werner

in his signature style, werner reframes the health savings account (hsa) as one of the most underrated retirement planning tools available today.

“i don’t look at the hsa as a way to pay for medical bills,” says werner. “i look at it as a disguised retirement plan.”

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pro member exclusive

how firm decisions get made

four people seated around conference table, one with thumb pointed down

bonus: a voting decision grid.

by marc rosenberg
the rosenberg practice management library

“the force can have a strong influence on the weak-minded.” – obi-wan kenobi

there are a number of alternative approaches that firms use to make decisions.

more by marc rosenberg
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1. decision-making authority of the managing partner or executive committee (ec) granted by the partnership. the gold standard for the effective management of any organization is to establish a leader (president, executive director, managing partner, etc.) and bestow the position with sufficient decision-making authority, as contained in the organization’s operating charter or agreement, to manage the entity. this is the best practice for cpa firms’ decision-making.
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pro member exclusive

thirteen ways to demonstrate you’re committed

high angle view of business people stacking hands in a teamwork gesture

do you mean business? show it.

by martin bissett
passport to partnership

rising from senior manager to partner often means being promoted ahead of our peers and contemporaries. it creates a gap in earnings, stature and influence compared to those who were our colleagues on a level playing field just yesterday.

more by martin bissett
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it can also mean that if we are coming into a firm from the outside, we are being promoted over people who have served at that firm for many years and understand the firm’s culture much better than we do now. we may have to lead these people as the head of a department and if so, they’d better be on our side.
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innovation & change management

ditching corporate america: the bold story behind pbs accounting’s rapid rise | the disruptors

after years in corporate roles, samantha hallburn created a firm where people come before profits—and business thrives because of it.

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 卡塔尔世界杯常规比赛时间 pro membership  – see today’s special offer

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the disruptors
with liz farr

samantha hallburn, founder of pbs accounting and tax, didn’t set out to be an accountant. after a progression through sales, marketing, hr, pr, and a stint as ops manager for a telecom company, she was working in banking. her business owner clients needed loans, but when she asked for financials, “they had no idea what i was even talking about,” she recalls.  

more podcasts and videos: jean zick: happy team = happy clients | breslin & greathead: be a client advocate | dominic piscopo: clear pay=bargaining power | debbie kilsheimer: stop thinking small | dave kersting: collaborate with co-firming | 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

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instead of turning them away, she offered to help. “i started helping my banking clients by going to their offices on my lunch break, after work, before work, on the weekends, days off to help them be able to get me what i needed.” after one particularly bad day in the corporate world, she decided to “roll the dice” and create a full-time venture. 

“i absolutely had no idea what i was really getting into, and that it was just going to be this snowball. and we grew so fast because there was such a need and such a demand,” hallburn says.  

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podcast

amy vetter: reclaim time, energy, & purpose | the concierge cpa

“we’re afraid to communicate, we’re afraid to speak up.” 

this is a preview. the complete episode is first available exclusively to pro members | go pro here
sponsored by 卡塔尔世界杯常规比赛时间 pro membership, where accounting pros go pro  – 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

in a profession known for long hours and technical precision, amy vetter, cpa.citp, cgma, csp, ryt, offers a refreshing message.

there’s more to success than climbing the traditional career ladder.

more jackie meyer

the founder of the b3 method institute joins jackie meyer on the concierge cpa to share her journey from audit partner to yogi and mindful tech advisor—challenging firm owners to prioritize purpose and personal well-being.

“once i made partner, i thought i’d feel happier,” vetter says. “but success without alignment isn’t really success.”

read more →

advisory & consulting

ten more things to tell your high-income clients | listicle

//m.g005e.com/category/checklist/listicle/by 卡塔尔世界杯常规比赛时间 research

your high-income clients probably know most of the topics on this list, but are they keeping up with them? are they making good decisions? do they know how changes in their lives, finances and businesses affect plans?

more listicles here
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use these talking points to maintain contacts with clients.

  1. optimize business structure for tax efficiency: high-income clients are often involved in several businesses. they need to balance s-corp, llc, partnership and other structures to maximize deductions and minimize self-employment tax.
  2. use family limited partnerships (flps): for clients with large estates, flps can help shift wealth to younger generations, manage assets and reduce estate tax exposure. clients need to know all the options and to make periodic adjustments. you may want to get input from various family members.
  3. set up a private foundation or charitable trust: a private foundation allows control over charitable giving while providing immediate tax benefits with a legacy of philanthropy.
  4. consider long-term care insurance: with rising health care costs, high-income clients should evaluate long-term care insurance options for retirement planning. plans need adjustment as clients (and spouses) age and their income changes.
  5. plan for education expenses with 529 plans: are clients up to date on tax-advantaged 529 accounts to save for children’s or grandchildren’s education expenses while benefiting from state tax deductions? touch base with clients to check for changes.
  6. optimize insurance policies: review life, disability and umbrella insurance policies to ensure adequate coverage and cost efficiency as wealth grows.
  7. develop a multiyear tax strategy: use income averaging, deductions and deferral techniques to level income across high-earning and lower-earning years. as you monitor the client’s income, suggest adjustments to the multiyear tax strategy.
  8. invest in tax-advantaged investments: municipal bonds, certain real estate investments and qualified opportunity zone investments can reduce taxable income while generating returns. there are new opportunities every day. clients need to know about them.
  9. diversify investment holdings across tax buckets: continuously balance assets in tax-deferred, tax-free and taxable accounts to create tax flexibility and efficiency in retirement. don’t let clients leave this for the end of the year.
  10. stay updated on tax law changes: for high-income clients, staying informed on tax law changes is crucial to adjusting strategies and maximizing savings. clients need to know about the changes, including impending changes. they need to know what to do about changes, and they need their accountant to advise them.

high-income clients tend to be very busy, but they will always make time to talk money. their accountant needs to talk with them often. use these 10 topics as reasons to contact your highly important clients.

pro member exclusive

a question of trust: not just for the wealthy

keep an eye on the sunset of the tax cuts and jobs act.

portrait of danny lohrfink
lohrfink
 danny lohrfink is the co-founder and chief product officer of wealth.com. previously, he was business lead of sofi’s wealth management division, sofi invest, and held several roles at goldman sachs private wealth management, including vp on the pwm management team.

by danny lohrfink 
the holistic guide to wealth management

contrary to popular belief, a person’s net worth is not the only – or most important – factor when deciding if a trust is appropriate for them. after all a trust is simply an agreement between someone who owns an asset and a trusted person whom they choose to hold and manage that asset for them.

more: trust and estate planning is for clients of all ages | annuities and insurance growing more attractive | quantifying the value of an advisor | raise your rates to change your clientele | how wealthtech is reshaping the future of holistic advice | profile of a modern firm: putting the vision into practice | tsunami of m&a, pe is disrupting the accounting profession | introducing you to a fulfilling return on relationships
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this common misconception that trusts are only for the wealthy has long prevailed as a leading narrative because of the historically high costs associated with establishing and managing a trust. these costs presented a barrier for many individuals who lacked the financial resources to hire an expensive estate planning attorney. the result was that only the wealthy had these vehicles because they were the only people who could afford them.
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accounting influencers

adam lean: get un-stuck | accounting influencers

“this is your chance to make a real difference.”

sponsored by “holistic guide to wealth management” by rory henry, cfp, bfa  – see today’s special offer

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accounting influencers
with rob brown

millions of accountants and bookkeepers are stuck in a cycle of overwork, undercharging, and undervaluation. in this episode of the accounting influencers podcast, adam lean, ceo and co-founder of thecfoproject.com, delivers a wake-up call: the compliance model is broken—and the profession must change course to remain relevant.

lean explains that for most clients, every accountant “looks the same.” they expect the books to be done and the taxes to be filed, and they rarely see the difference between high-quality and mediocre service. this makes it nearly impossible for accountants to raise prices or grow sustainably.

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