Today's Features

Base Retirement on Today’s Operations

Page of calendar showing date of 15th5 critical issues and 4 behaviors of healthy organizations.

By Bill Reeb and Dominic Cingoranelli
CPA Trendlines / Succession Institute

Because many firms have some part of their compensation and often retirement or ownership as well tied to client book, it is important to lock in a fair retirement based on how the firm is operating today.

MORE ON PERFORMANCE MANAGEMENT: Who Decides What? | How Retired Partners Are Robbing their Own Firms | 4 Ways to Create More Capacity | Partner Retirement and the War for Clients | Succession: The Questions to Care About | 5 Harmful Management Attitudes (and How to Fix Them)

The reason is that when creating a strong succession plan, you are likely to ask all partners to agree to some changes. If you want to create an open dialogue with a senior partner about giving up some of his or her book for the betterment of the firm, which is also typically synonymous with asking that partner to give up some of their security regarding annual compensation and even more important their internal power, it is critical to give them confidence that their past efforts are being considered when creating the reward structure going forward.

Tax Season Productivity Hacks

Five good habits for getting things done.

The Best Time Management Tips:
Join the survey, get the answers

By Salim Omar

Tax time is widely considered the “busy season” for practitioners, but it doesn’t have to mean chaos and misery. A well-managed firm allows its owner to conduct business and live life at a reasonable pace no matter what the season.

MORE on PRODUCTIVITY: Does Busyness Really Mean Productivity?  | How Many Hours Should Accounting Staff Work?  |  When Everything Takes Too Long  | New Lessons in Time Management
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By employing a few clever and surprisingly simple productivity hacks, you, too, can a better tax time experience beginning this very season. Put these new habits to work for you now: READ MORE →

How to Turn Routine CPE into a New Marketing Opportunity

CPE: It's not just for staff.

By Jassen Bowman

As public accounting firms continue to make strides in the modernization of their business development processes, there is one unique opportunity that they might be overlooking: In-firm CPE offerings.

About half the accounting firms I speak with each week tell me that they produce a significant amount of their continuing education training in-house. These programs are most often created and delivered by the firm’s own subject matter experts, and are delivered to staff not just to fulfill CPE requirements, but to directly improve the skills of these accountants.

What most firms miss, however, is that these presentations are also an opportunity for the firm to showcase their capabilities to both prospects and existing clients.

In short, think of your in-firm CPE programs as a content marketing opportunity.


The Economy’s Biggest Winners & Losers from Immigration

CPA firms with clients in coastal and southern border states may be most vulnerable to loss of immigrant economic activity.

Economic impact of immigration, ranked by state. Source: WalletHub

By CPA Trendlines Research

If there’s ever any massive curtailment of immigration into the United States, CPA firms in states along ocean coasts and in major metro markets may be the most vulnerable to losing prospective clients and future job candidates.

A new study of demographic trends nationwide finds that immigrants play an especially key role in economic growth on both coasts with California, New Jersey, Florida, New York and Hawaii, ranking as the states with highest percentages of jobs created by immigrant-owned businesses.

The study, conducted by the personal finance advisory web site WalletHub , further finds that California, New Jersey, New York, Delaware and Massachusetts are where foreign-born people hold the greatest percentages of jobs in the fast growth technology science, technology and engineering fields.

Meanwhile, New Jersey, along with the District of Columbia and its neighbors Virginia and Maryland, are where households headed by immigrants have the highest incomes.


Staffing: The How and Why of Upward Surveys

Word "SURVEY" on computer screenIncludes 19 sample questions, industry norms and how to decide who evaluates whom.

By Marc Rosenberg
On Staffing

Why do firms conduct upward evaluations?

MORE ON STAFFING: Survey to Find Out What Your Staff Think | MPs Chime In on Recruiting, Development, Retention | How to Set Your Firm Apart to Recruits | Why Staff Scheduling Should Be Centralized | Compensation: Money and Beyond | How to Make Mandatory Saturdays a Thing of the Past | What Staff Mentoring Is and Isn’t | Do Flexible Hours Help or Hurt Us? | 8 Keys to Keeping Staff Engaged
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Many firms believe staff are just as important as clients. The No. 1 reason why staff stay with their firm is their relationship with the boss. In the case of a CPA firm, "the boss" is the firm's supervisory personnel, mostly partners and managers.

Monitor Real Estate: More Is Better

Empty office space with many monitorsNo, one big screen is not just as good as multiple smaller ones.

By Roman H. Kepczyk
Quantum of Paperless

The best place to start the discussion on hardware is with monitors as it is the easiest place to see an immediate return on your IT investment.

MORE ON TECH SPENDING: Keep Your Tech Budget Updated | Develop Monthly IT Flash Reports | Centralize Contact Administration | Is Your AP Digital Yet? | A Better Way to Handle Time & Expenses | How the Best CPA Firms Capture Best Tech Practices in Procedures Manuals | Workflow Systems Make Tax Season Less Tedious | Smart Firms Don’t Happen by Accident
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Your monitors are your windows into all digitally stored information and are the foundation for improving every aspect of firm production. Transitioning tax production processes from physical to digital requires that all input screens and source documents be simultaneously viewable in a convenient format, which today means more screen real estate per workstation.