CPA Trendlines

Tax Season 2007: Stress-O-Meter Update

Stress levels eased a little in the latest week, dropping to 25% of respondents reporting the most severe conditions, down from over 40% the week before.

How stressed are you this week?

Meanwhile, 32% say business operations are running “better” than the year-ago period, a slight uptick for the latest week, the seven days ended Sunday, March 11, 2007

Tax practitioners appear to be hitting their stride in the latest week, according to our latest surveys.

Among the key benchmarks:
– Revenue is running ahead of last year for about two-thirds of our respondents, unchanged in the week.
– Net Profit is up for 58% of accountants, also unchanged.
– Number of Clients is up at about 65% of respondents.
– Number on Extension stands at 27%, up from 21% the week before.
– Revenue per Client gained 6 points to hit 68% this week.
– Profit per Client jumped 10 points, to 59%.

VERBATIM COMMENTS and MORE CHARTS…
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Macdonald Consulting Group and Blytheco Inc. Announce Merger

Both organizations are award-winning Sage Select Partners and members of the elite Sage Software Presidents Circle and Chairman’s Club.

The combined organization will be named Blytheco LLC and will be owned by the existing owners of Blytheco & MCG. Blytheco LLC will have 85 employees and trailing twelve month revenues of $ 16.5 million.

The merger is a natural expansion of the already successful partnership that both firms have enjoyed for many years. This is the first step in a series of planned combinations that will create a national Sage Software business partner, which can offer a comprehensive suite of Sage Software solutions. The new Blytheco LLC will provide its clients with the benefits and expertise of a national partner while still preserving the personal touch from a local staff.

“National reach with a local touch is what Sage Software delivers through our dedicated group of highly-skilled business partners,” said Ron Verni, president and CEO of Sage Software. “The combination of Blytheco and Macdonald Consulting, two of our most outstanding partners, creates a natural extension of this philosophy. We’re extremely pleased to see two organizations with a keen eye on satisfying the needs of small and mid-sized business owners pool their respective resources to the benefit of our mutual customers.”

“Joining forces is a very positive move for our clients, the industry, the companies, and our employees”, remarked Ruth Menter, president of MCG. “This is the trend our industry is heading and Blytheco and MCG are leading the way. We are extremely pleased to be combining our 17 years of experience, our regional expertise, and the diverse backgrounds of our accounting and technology staff. This combination should prove invaluable in helping our clients realize their business goals.”

MCG has offices in Atlanta GA, Nashville TN and Tampa FL serving thousands of clients in the Southeastern United States. Blytheco has its primary offices in Orange & Los Angeles counties CA and satellite offices in nine states through the Midwest and Northeast. Blytheco LLC will continue to provide sales & implementation consulting and support for the eleven Sage Software products including Sage MAS 90, Sage MAS 200, Sage MAS 500, Sage Abra HRMS, Sage MIP Fund Accounting, Sage MIP Fundraising, Sage BusinessWorks, Sage FAS, Sage SalesLogix, Sage CRM and ACT! By Sage.

“The commitment that Blytheco and Macdonald Consulting have made to Sage Software and to our mutual customers over the years is admirable,” said Himanshu Palsule, Sage Software senior vice president and general manager, Mid-Market Accounting Solutions. “Exemplary customer service and award-winning solutions have earned them well-deserved recognition as leading members of our business partner community, and the combined resources will enable the new Blytheco to extend this excellence to even more clients.”

“This is a major benefit for our clients, employees and our companies. We see Blytheco LLC providing a leadership role in the Sage Software VAR industry,” commented Stephen P. Blythe, CEO of Blytheco. “Our clients will have access to the largest pool of experienced Sage Software consultants and developers with 12 hours of available daily support. Our employees will receive the best training in software implementation and business consulting practices. Working with the best of the best is a real advantage for our team. The combined expertise of this new national organization will allow us to be better positioned to support the growth of our clients, locally, regionally or on a national basis.”

About Blytheco LLC (www.blytheco.com)
With regional Headquarters in Laguna Hills CA, and Atlanta GA, Blytheco provides the competitive edge of business software and service solutions from entry level accounting and contact management software to uninterrupted and continuous solutions integrating ERP, accounting, distribution, manufacturing, CRM and HR, all of which come with professional advice, installation, training, plus ongoing service and support.

About Sage Software (www.sagesoftware.com)
Sage Software supports the needs, challenges, and dreams of more than 2.7 million small and mid-sized business customers in North America through easy-to-use, scalable and customizable software and services. Our products support accounting, operations, customer relationship management, human resources, time tracking, merchant services and the specialized needs of the construction, distribution, healthcare, manufacturing, nonprofit and real estate industries. Sage Software is a subsidiary of The Sage Group plc, a leading international supplier of accounting and business management software solutions and related products and services for small and mid-sized businesses. Formed in 1981, Sage was floated on the London Stock Exchange in 1989 and the Group now has 5.2 million customers and employs over 13,000 people worldwide. For more information, please visit the Web site at www.sagesoftware.com/moreinfo.
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Job Confidence Drops in Accounting and Finance

The Hudson Employment Index Falls 7 Points

After a large jump in January, worker confidence among accounting and finance workers cooled in February, as the group’s Hudson Employment Index fell 7 points to 113.5. Decreased job satisfaction and increased worry about job loss fueled this drop. The latest reading for this group of workers is virtually unchanged from last February’s 113.0. The national Index, based on responses from approximately 9,000 workers across all sectors, climbed up 2.9 points to 107.1.

The Hudson Employment Index for accounting and finance workers showed:
– Fewer employees said they are happy with their job (70 percent) than in January (78 percent).
– Thirty-five percent of employees reported that their company will be hiring in the coming months, a three-point increase since January (32 percent).
– A greater number of workers reported that they are worried about losing their job in February (18 percent) than in January (13 percent).
– However, 35 percent of employees reported that their company will be hiring in the coming months, a three point increase since January (32 percent). READ MORE →

Key Advantages of Vista and Other Upgrades

Consider the upgrades that can improve your work experience

by Rick Telberg
for Hewlett Packard
March 2007

Do you get tempted when you look at all the low priced PCs being advertised in the Sunday circulars? Especially when you think of how much work you have at certain times of the year?

Should you upgrade or replace your PC?

If your PC is only a couple years old, and you are running a current operating system like Windows XP or even Windows 2000, your money may be better spent on other computer components. However, considering the affordability of new PCs and notebooks, plus the advent of the new Vista operating system and Office 2007, maybe it’s worth scrapping that old heap and stepping up a notch with a new CPU. READ MORE →

Taxes, Taxes, Taxes. What Else?

Dreaming about the post-tax-season slowdown?

Join the tracking survey. Check the Stress-O-Meter.

by Rick Telberg
At Large

Here at the height of tax season, accountants have only one thing on their minds — taxes.

Wait, I’m wrong. There is, indeed, one other thing on their minds — apre-tax.

Public practitioners, at small firms especially, seem more inclined to want to slow things down a bit, take more time off and shift their emphasis away from the office to their personal lives. Indeed, taking more time off is becoming a mainstream business strategy. READ MORE →

TAX SEASON: Feeling ‘Crazed?’ You’re Not Alone

Almost twice as many tax pracs are sweating bullets this week, compared to last week.

Latest week

The number of pro’s reporting the highest stress levels about doubled to 43% from the week before.

Are you feeling relatively “cool?” Congratulations: You’re the lucky 5%.

Top comments:
• work/home life balance
• Too much work, not enough experienced help. READ MORE →

IRS: Consumer E-Filing Up 7%; Pro E-Filing Up 2%

2007 FILING SEASON STATISTICS
Cumulative through the weeks ending 2/24/06 and 2/23/07

Source: IRS

WASHINGTON (IRS News Release) — The Internal Revenue Service announced today that taxpayers are continuing to file their tax returns electronically from home computers at a record pace, up almost 7 percent from the same period last year.

Overall, e-file has increased by nearly 4 percent since last year. In addition to a 7 percent increase in self-prepared electronically filed returns, e-filed returns from tax professionals climbed by more than 2 percent. READ MORE →