busy season barometer

getting a handle on covid

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views from the front lines: victoria martin, elaine kovner, gary zeune

accountants show new signs of optimism as fears of covid chaos wane.

how to battle the coronavirus recession
join the survey. get the answers.

by 卡塔尔世界杯常规比赛时间 research

the turning of a terrible tide of covid pessimism has been neither quick nor clear-cut as the endless busy season of 2020 drags on, according to new findings and analysis from the 卡塔尔世界杯常规比赛时间 busy season barometer.

more trends in surveys & research: covid crushes cpa business outlook |  is the worst over? 63% of small business say so | beat the covid crisis with these 20 steps for your firm and your clients | clients, revenues, profits – trending down, down, down | covid crushes rosey forecasts | the seven factors keeping accounting firms afloat amid covid-19 | feeling the pain? the biggest job losses by client sector | tax season pivots to covid rescue season | planning for the coronavirus recession | how accountants are coping with covid-19 |

more coronavirus coverage here

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the outlook certainly isn’t back to where it was in the sunny days of february. but hopes for a better year have edged up from 23 percent in april to 27 percent in may.

read more →

beat the covid crisis with these 20 steps for your firm and your clients

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the ultimate checklist for focusing on cash, communication, continuity – and accepting uncertainty.

卡塔尔世界杯常规比赛时间 business barometer
your best advice to colleagues and clients?
join the survey. get the results.

by 卡塔尔世界杯常规比赛时间 research

the toll of covid-19 on business will be an ongoing trauma. it ain’t gonna be over ’til it’s over, and that ain’t gonna be for a long, long time.

more on covid crisis management: how to inoculate your firm against covid competition | pro tax prep stalls to a crawl amid covid-extended season | covid kills 67,600 jobs in tax and accounting | client accounting services poised to surge in post-corona world | clients, revenues, profits – trending down, down, down | andrew argue is on a mission | 3 questions for determining your value | covid crushes rosey forecasts | the seven factors keeping accounting firms afloat amid covid-19 | feeling the pain? the biggest job losses by client sector |

see: all 卡塔尔世界杯常规比赛时间 special coronavirus crisis coverage

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to survive, tax and accounting practices are going to need to take precautionary and proactive measures to ensure their financial continuity. those measures must necessarily include guidance for clients to help them survive. because failing clients mean failing firms.

crisis management is a lot easier if it starts before the crisis hits. here are some steps that accountants can take for themselves and their clients, gleaned from the thousands of accountants and advisors we’ve been hearing from over the past several weeks. read more →

covid kills 67,600 jobs in tax and accounting

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two years of steady gains wiped out in one month

profession loses four years of job growth in the first month of the coronavirus recession, reversing years of steady gains.

by beth bellor

crushed by the covid-19 pandemic, the tax and accounting profession has fallen below 1 million employees for the first time in two years – way below, and that may be just the tip of the iceberg, according to 卡塔尔世界杯常规比赛时间 research.

more on jobs and hiring trends:  planning for the coronavirus recession  |  pre-covid-19, accounting profession hits new highs  |  the fight for new tax clients  |  tax & accounting headcounts hit record high   |  hiring growth rate shows signs of leveling off   |  what staffing shortage?   |  payroll agencies lead jobs growth in the tax & accounting industry   |
goprocpa.comexclusively for pro members. log in here or 2022世界杯足球排名 today.

in this report, 卡塔尔世界杯常规比赛时间 highlights:

  • current and long-term hiring trends in each of the bookkeeping, payroll, tax and cpa segments of the industry (all data seasonally adjusted)
  • average hourly wages for key segments
  • typical hours worked per week
  • trends concerning women in the accounting workforce

the data comes with a big asterisk.

read more →

clients, revenues, profits – trending down, down, down

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eckelkamp, neilson, blank: clients late, clients new, clients in need

pandemic cuts profits at 42% of firms, client numbers off at 29%, and revenues down at 38%.

the 卡塔尔世界杯常规比赛时间 business barometer
how accountants are managing:
join the survey. get the results.

by 卡塔尔世界杯常规比赛时间 research

like just about every other business in the world, cpa practices are hunkering down for a year of hard times. yet a third of them think they can buck the odds and see some increase this year.

more:  saving 10,000 businesses from the covid crash  | the seven factors keeping accounting firms afloat amid covid-19 [survey results] |  feeling the pain? the biggest job losses by client sector  |  tax season pivots to covid rescue season  |  how accountants are coping with covid-19 |  survey: confronting coronavirus chaos | planning for the coronavirus recession | tax season turns ugly under coronavirus | tax season turns ugly under coronavirus | coronavirus culture-shift hits accounting firms | 41 items to check on business tax returns | tax season funnies: the poetic versions | how to stop drowning in covid tax deadlines [webinar]

卡塔尔世界杯常规比赛时间 is providing free access to some of our latest coronavirus crisis updates: start here for a guide to all our free coverage.

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

back in the bullish days of february, the 卡塔尔世界杯常规比赛时间 2020 busy season barometer was reflecting expectations of more clients, burgeoning revenue, and increased profit, with a medium-chance of more extensions.

but these bearish days see most practitioners expecting a year stagnant at best and quite likely worse than stagnant in all benchmarks of success.

read more →

covid crushes rosey forecasts

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survey shows hopes for a smooth and profitable 2020 are destroyed by a floundering economy.

卡塔尔世界杯常规比赛时间 business barometer:
how accountants are managing:
join the survey. get the results.

by 卡塔尔世界杯常规比赛时间 research

the resilience of the coronavirus and the continued spread of covid-19 has accountants shifting the focus of their concerns.

more: the seven factors keeping accounting firms afloat amid covid-19 [survey results] |  feeling the pain? the biggest job losses by client sector  |  tax season pivots to covid rescue season  |  how accountants are coping with covid-19 |  survey: confronting coronavirus chaos | planning for the coronavirus recession | tax season turns ugly under coronavirus | tax season turns ugly under coronavirus | coronavirus culture-shift hits accounting firms | 41 items to check on business tax returns | tax season funnies: the poetic versions | how to stop drowning in covid tax deadlines [webinar]

卡塔尔世界杯常规比赛时间 is providing free access to some of our latest coronavirus crisis updates: start here for a guide to all our free coverage.

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

ages ago—back in february, b.c. (before covid)—the 卡塔尔世界杯常规比赛时间 2020 busy season barometer survey found that out of 14 common concerns, economic conditions were of the least concern, the bottom of the list, worrying just eight percent of respondents.

covid changes everything.

read more →

the seven factors keeping accounting firms afloat amid covid-19

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and the top five survival strategies, according to 卡塔尔世界杯常规比赛时间 research.

confirmed cases. source: jhu.edu

卡塔尔世界杯常规比赛时间 business barometer:
how accountants are managing:
join the survey. get the results.

by 卡塔尔世界杯常规比赛时间 research

under the historically unprecedented pressures of the covid-19 pandemic, u.s. accounting firms large and small are adapting as fast as they can—or rather, as fast as they must.

more:  feeling the pain? the biggest job losses by client sector  |  tax season pivots to covid rescue season  |  how accountants are coping with covid-19 |  survey: confronting coronavirus chaos | planning for the coronavirus recession | tax season turns ugly under coronavirus | tax season turns ugly under coronavirus | coronavirus culture-shift hits accounting firms | 41 items to check on business tax returns | tax season funnies: the poetic versions | how to stop drowning in covid tax deadlines [webinar]

卡塔尔世界杯常规比赛时间 is providing free access to some of our latest coronavirus crisis updates: start here for a guide to all our free coverage.

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practitioners are striving, struggling, scrambling to do what they have always done, and on top of that, to learn what they never knew in order to serve clients as in ways they needed to before.

less than three months from when the first cases were reported, the pandemic has taken the lives of over 70,000 americans and is approaching 3,000 deaths a day. while the pandemic has been a shock to the economy, tax and accounting practices appear to be maneuvering through it better than many other businesses.

read more →

feeling the pain? the biggest job losses by client sector

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jobs survey pinpoints client niches suffering the most under covid. bonus: infographic.

卡塔尔世界杯常规比赛时间 business barometer:
how accountants are managing:
join the survey. get the results.

by 卡塔尔世界杯常规比赛时间 research

private sector employment decreased by 20.2 million jobs from march to april according to the april adp national employment report, and that doesn’t reflect the full impact of covid-19.

a quick scan of the data shows the hardest hit client sectors, with the smallest businesses hit particularly hard.

more staffing and hiring trends:  planning for the coronavirus recession |  automation and the future of accounting  |  getting and keeping the best: the struggle continues |  headcounts dip by 3,500 in tax & accounting |  creative perks for remote employees |  what staffing shortage? |  hiring trends flash warning signs of slowdown in tax & accounting |  salary survey: top skills getting top pay

see: all 卡塔尔世界杯常规比赛时间 special coronavirus crisis coverage

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“job losses of this scale are unprecedented. the total number of job losses for the month of april alone was more than double the total jobs lost during the great recession,” says ahu yildirmaz, co-head of the adp research institute. “additionally, it is important to note that the report is based on the total number of payroll records for employees who were active on a company’s payroll through the 12th of the month. this is the same time period the bureau of labor and statistics uses for their survey.”

the details by company size and business sector:

read more →

tax season pivots to covid rescue season

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shifting from tax prep to covid relief: karyn vaughn, deann hill, and joanne bryson.
shifting from tax prep to covid relief: karyn vaughn, deann hill, and joanne bryson.

it ain’t pretty: 62% of accountants switch outlook from “better” to “worse.”

busy season barometer
how’s covid-19 impacting accounting firms?
join the survey. get the answers.

by 卡塔尔世界杯常规比赛时间 research

the sentiments of accountants this busy season have been as up and down as the dow jones.

more on tax season: how accountants are coping with covid-19 |  survey: confronting coronavirus chaos | planning for the coronavirus recession | tax season turns ugly under coronavirus | tax season turns ugly under coronavirus | coronavirus culture-shift hits accounting firms | 41 items to check on business tax returns | tax season funnies: the poetic versions | how to stop drowning in covid tax deadlines [webinar]

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the year started off on an optimistic note. but by the time the coronavirus got real, all hope had been abandoned.

read more →

irs web traffic doubles over year-ago

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data chart
^ data for the week ending april 24, 2020

as filers seek stimulus checks.

busy season barometer
how’s covid-19 impacting your firm?
join the survey. sound off. get answers.

by beth bellor

want a bright spot in the irs’ weekly updates on tax filings? it’s website traffic, more than double what it was a year ago.

more: covid drowns irs in new filings | 2020 tax season comes to a screeching halt | the tax season 2020 dumpster fire | tax pros fall behind 6.2% in returns filed | tax pros trail by 908,000 returns | tax pro irs filings lag by 532,000 | tax pro e-filings lag by 512,000 returns | tax pros kick into high gear
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everything else? a sea of red.
read more →

planning for the coronavirus recession

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if past recessions are any guide, the profession could lose up to 100,000 jobs.

busy season barometer:
bracing for the coronavirus recession
join the survey. get the facts.

by beth bellor

the tax and accounting profession was adding new jobs at a rate of 2.3 percent per year before the coronavirus outbreak, according to 卡塔尔世界杯常规比赛时间 research.

see: all 卡塔尔世界杯常规比赛时间 special coronavirus crisis coverage

more staffing and hiring trends: automation and the future of accounting  |  getting and keeping the best: the struggle continues |  headcounts dip by 3,500 in tax & accounting |  creative perks for remote employees |  what staffing shortage? |  hiring trends flash warning signs of slowdown in tax & accounting |  salary survey: top skills getting top pay

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

but with a new recession looming, 卡塔尔世界杯常规比赛时间 estimates the profession could lose up to 100,000 jobs and take up to seven years to recover.

the latest data available show more than a million employees in the profession, and growing at about 2,800 new jobs per month. at the same time, wages are hitting record highs.

but with the coronavirus crisis threatening a new recession, 卡塔尔世界杯常规比赛时间 conducted a long-term, 30-year analysis, focused on the job losses caused by the dot-com crash of 2001 and the financial meltdown of 2007. from the analysis, 卡塔尔世界杯常规比赛时间 calculates the profession could shed up to 10 percent of its current workforce, and not fully recover for two to seven years.

all employees, thousands, accounting and bookkeeping services, seasonally adjusted
^ showing dips after the dot-com bubble in 2001 and financial crash in 2008: all tax, accounting, and bookkeeping services, all employees, in thousands, seasonally adjusted. (卡塔尔世界杯常规比赛时间 research)

in this report, 卡塔尔世界杯常规比赛时间 highlights:

  • current and long-term hiring trends in each of the bookkeeping, payroll, tax and cpa segments of the industry (all data seasonally adjusted)
  • average hourly wages for key segments
  • typical hours worked per week
  • trends concerning women in the accounting workforce

read more →

how accountants are coping with covid-19

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coping with the covid crisis- robert jones (left), and stephen backman
coping with the covid crisis: robert jones (left), and stephen backman. more crisis management strategies: join the survey. get the answers.

new methods, new mindsets.

the busy season barometer
coronavirus crisis management strategies:
join the survey. get the answers.

by 卡塔尔世界杯常规比赛时间 research

the coronavirus sure did hit quick. it seems like it’s been here since forever, but it didn’t really strike until halfway through the busy season. there were ominous clouds on the horizon in january, but early respondents to the 2020 卡塔尔世界杯常规比赛时间 busy season barometer were generally expressing optimism.

more on tax season: survey: confronting coronavirus chaos | planning for the coronavirus recession | tax season turns ugly under coronavirus | tax season turns ugly under coronavirus | coronavirus culture-shift hits accounting firms | 41 items to check on business tax returns | tax season funnies: the poetic versions | how to stop drowning in covid tax deadlines [webinar]

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then things went downhill fast. but despite the pressures of the tax season, cpas have been equally fast at adjusting to the new world. they really had little choice. they could innovate. they could close up shop. or they could get really, really sick.

innovation seems to be the most popular choice. read more →

covid drowns irs in new filings

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data chart
data for the week ending april 17, 2020.
* total includes returns filed to obtain economic impact payments by those who would not usually file income tax returns.

why not? submissions are way down.

busy season barometer
how’s covid-19 impacting your firm?
join the survey. sound off. get answers.

by beth bellor

coronavirus hit irs data in a couple of ways this week.

people who don’t ordinarily file income tax returns, but did so to obtain economic impact payments, boosted filings higher than they might have been for the week ending april 17, the latest data. in addition, visits to irs.gov shot up 77 percent over 2019 – the get my payment link surely was part of that picture.

more: 2020 tax season comes to a screeching halt | the tax season 2020 dumpster fire | tax pros fall behind 6.2% in returns filed | tax pros trail by 908,000 returns | tax pro irs filings lag by 532,000 | tax pro e-filings lag by 512,000 returns | tax pros kick into high gear | slow start for tax pro e-filing | data points down as tax season opens | the fight for new tax clients
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the internal revenue service reported receiving 116 million individual income tax returns, down 15.5 percent. it had processed 106.6 million returns, up 18.5 percent.
read more →

3 measures of the effectiveness of your team

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illustration with 3 thermometersthey work in harmony.

by jody grunden

once you’ve systemized the processes for your accounting team, it’s important to evaluate the effectiveness of your process on a regular basis. you want to be aware of what’s working well and what’s not. you also want to continually be improving upon your services over time.

more: transferring clients to a new employee | how to evaluate workflow management software | when the irs and fbi come knocking | 5 questions to evaluate new tech tools | the hidden cost of running a distributed company | how to develop your leadership team
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there are three things you can specifically monitor when it comes to the effectiveness of your team, as shown in the illustration at right.
read more →