From:
Dax Stoner, CPA/ABV, CVA
St. Paul, MN
“As a single member firm, I have to be very efficient with my time. The problem is not getting the business, it’s getting TO the business. Your articles on time, client and stress management are of tremendous benefit.
“You boil it down and give real-life examples of what’s working and what isn’t for other professionals just like me. That’s why I rely on what you do. Nowadays, we get all the technical writings we want with ease; in fact, we are inundated with technical teachings. You talk about soft issues that matter as much or more, like how to use one’s time better, balance work and personal life, and craft strategies for dealing with challenging client situations. In short, you help me run my business better.”
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Foundation Construction Software To Add Audit/Review Module
Foundation Software, a developer of construction accounting systems, is pushing ahead with plans to add a CPA Audit/Review Module that would compliment their FOUNDATION for Windows construction accounting software program. The company said it is working jointly with various construction-focused CPA firms to design the add-on.
?After speaking with thousands of contractors and their CPA firms over the years, a common request has been for a quick and accurate method to gather the necessary information easily from a client?s accounting software,? stated Fred Ode, Foundation Software CEO/Chairman. Details at www.foundationsoft.com. READ MORE →
First the Good News: Small businesses that are less than 3 years old plan to increase technology spending in the $5,000 to $24,999 range this year, according to Jupiter Research, representing a business development opportunity.
Now, the Bad News: Tech spending will be relatively flat for the rest of the small and mid-size business economy. Forty-four percent earmarked less than $5,000 for technology purchases this year, same as last year.
On the Other Hand: That’s still $5,000 per business.
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By Rick Telberg/At Large
Join the Tax Season tracking study here.
While we catch our breath to assess what went right and what went wrong with Tax Season 2005, many are asking “How did we do it, and remain sane and in one piece?”
“Pace yourself,” says one practitioner. But he doesn’t stop there. It takes more. “Keep a good sense of humor, keep your staff energized and focused on the task at hand, hold monthly staff outings, maintain business as usual as it relates to marketing, attendance at business functions etc., have the staff plan firm events during and after tax season.”
John Pezzullo of Wheaton, Ill., has jumped on the e-filing bandwagon, and improved his cash flow by accepting credit cards. “Everyone has plastic,” he says.
“Who says I’m sane?” says a small-firm owner. “It takes me a month to recover. Nobody in his or her right mind would willingly do this for a living,” he quips. READ MORE →
SurePrep is rolling out a tax preparation workflow system that it says could cut the time required to prepare returns by 35% to 50%. And, they note, “without outsourcing a single return.”
Originally developed by SurePrep to automate its own tax processing operations, SurePrep Express might help accounting firms double the volume of returns they prepare without increasing professional staff and without sacrificing quality or control, the company says.
Here’s how it works…
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Tax Season 2005 came to a close today with practitioners reporting about as many positives as negatives. Late K1s and tardy clients were again the main frustrations. But all key financial and operating indicators were showing gains.
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Tracking studies suggest few major glitches.
Tax season is coming to a smooth, successful close for most CPAs. But balky clients, staff shortages and frayed nerves have clearly taken their toll. Six in 10 practitioners say the season went better than or at least as smoothly as last year. And the rest — a sizeable four in 10 — say conditions were worse.
Going into the final week, our readers called conditions:
Better than last year: 24%
About the same: 34%
Not as good as last year: 42%
Interestingly nevertheless, most of our practitioners are reporting advances in all key operational and financial measures — revenues, profits, clients and more. (CONTINUED…)
How Was YOUR Tax Season?
Get your own sneak preview of the key benchmarks and ideas for improvement. Join the tracking panel. (Free. Confidential.) READ MORE →
