today's features

tax season memo from staff to managing partner

what if your staff didn’t write this email?

by hitendra patil

congratulations if your staff wrote such an email to you. (but what if they wanted to and didn’t?)

join the study: are you an owner, partner, or managing partner with talent challenges? we’re conducting research to uncover answers. if you’re interested, please email me here. 

dear [managing partner’s name],

as we start thinking about the next tax season, i am reaching out with a request that reflects the sentiment of many of us in the firm. i know tax season is crucial, and we all understand its importance. however, after all these years, we’re in a never-ending marathon. the long hours, the constant pressure—it’s draining. what if we could flip the script this year and make the next tax season, dare i say, a little less soul-crushing?

i have a few ideas—some might seem unconventional, but we must get creative to avoid the same burnout cycles. hear me out, in no particular order: read more →

tiktok fraud exposes gaps in financial literacy | accounting arc

social media users jumped on a chase atm “free money” scheme—but the consequences were severe. 

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more arc: analysis, reaction, comedy

accounting arc
with liz mason, byron patrick, and donny shimamoto.
center for accounting transformation

in the age of social media, financial misinformation can spread as rapidly as it’s created, and the recent chase bank atm scam exemplifies this.

more accounting arc: how accounting pros own the stage in public speaking | greg kyte: being a cpa is like being the marie kondo of numbersrachel bashore: a lawyer’s case for reinventing accounting | beyond the basics in ethics eduction | bailey lenart: from ledger sheets to transformational change | election tax plans: what cpas need to know | leadership for the future: stakeholders, sustainability, and strategic vision |

a supposed “glitch” that allowed users to deposit checks and withdraw amounts above the federally set limit for immediate withdrawals became a viral trend on tiktok, leading many to commit fraud unknowingly. in a recent accounting arc episode, hosts liz mason, cpa; byron patrick, cpa.citp, cgma; and donny shimamoto, cpa.citp, cgma; analyze the scam’s implications and highlight the lack of financial literacy that may have facilitated its spread.

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sy goldberg’s guide to the new retirement distribution rules

sy goldberg at his best: frank. outspoken. unfiltered. unreserved. unvarnished. unedited.

preview: unmute for sound

卡塔尔世界杯常规比赛时间 research is pleased to present sy goldberg’s 112-minute program covering the new required beginning date for starting distributions from retirement accounts.

buy now | learn more

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accounting firms upshift to corporate model

three people standing and talking around table in brick conference room

expect competition from non-cpa firms.

by terry putney
the rosenberg national survey of cpa firm statistics

the private equity influence and activity clearly will continue to dominate mergers and acquisitions in the profession in the near future. at this point there is likely over $10 billion in fee volume generated by firms pe has invested in. even more if you include esop-based firms (an alternative form of investment). contrast that with less than $2 billion at the height of the consolidation phase in the early 2000s. it seems likely that the fee volume generated by pe-backed firms could exceed $20 billion within at most 18 to 24 months.

editor’s note: every year, the 2024 rosenberg national survey of cpa firm statistics asks the profession’s top consultants two sets of questions:

    • how do you think the next 12 months will unfold? trends? predictions? other thoughts?
    • how would you assess the last 12 months? trends? observations? struggles?

more: tech anxiety paralyzing some accounting firms | what’s going to happen? lots, say consultants | growth and complacency must concern accounting firms this year | solving staffing requires intention | how accounting firms are handling the staff shortage | the future of fees | as private equity closes in, firms seek new answers to staffing problems | when staffing falls short, clients get culled | how accounting firms are dealing with retirement | next five years are critical for accounting firms | staffing turnover’s down, but why? | what’s your firm worth? private equity wants to know | the new pipeline: outsourcing and offshoring | is this the last year of accounting’s golden age?
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

 

one of the trends that is already happening is firms are moving from the partnership model to a more corporate model with respect to ownership and owner compensation. this means compensation systems will include elements of ownership as part of the currency. it also means the concept that a professional is expected to commit to a full career with a firm with the reward being in the form of a 10-year deferred compensation buyout after 30 years of service is likely to start to wane.
read more →

jody padar: make radical changes now if you want to be relevant in 2030 | the disruptors

your pricing isn’t aligned with the future, and neither is your business model. plus 18 more takeaways!

this is a preview. the complete 1-hour video episode, with commentary and transcript, is first available exclusively to pro members | go pro here

subscribe to 卡塔尔世界杯常规比赛时间 podcasts anywhere: applegoogle/youtubespotifyiheartdeezer, amazon music, audibleplayer fmaudacy, rss.

the disruptors
with liz farr

jody padar, the radical cpa, has been pushing for big changes in accounting for years. her latest book, radical pricing, is a blueprint for firm owners who want to fully transform their businesses to serve clients better, make employees happier, and be more profitable. padar maintains that combining pricing with standardization and productization drives firm profitability.  

more disruptors here | more podcasts and videos: rebecca driscoll: amplify reach by helping other firm owners | rory henry: create the return on relationshipsmike maksymiw: be the leader you wish you hadterrell turner: build a solid business showing up as yourselfkelly mann: be the bull in the china shopalicia katz pollock: create a human-centric businessnancy mcclelland: be the one your clients ask first |alan whitman: stop accepting the status quo | sean duncan: discover your own genius | ingrid edstrom: true wealth is not financial | caleb jenkins: firm growth requires owners to shift roles |

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

this handbook isn’t just about “putting pricing on something,” padar says. “that’s putting lipstick on a pig.” many firms that have tried value pricing say it doesn’t work, but padar says that’s because their business model isn’t aligned with their pricing. “if you leave the old school model and you just put pricing on top of it, you’re going to struggle,” she says. radical pricing walks readers through a process of standardizing and productizing services, defining the ideal customer, developing pricing, and even explaining how to bring legacy customers on board.  

read more →