Busy season this year comes amidst the worst economic crash in a generation. How are CPAs handling it?
Actually, not too badly. At least not yet.
True, the economy remains the biggest worry, and collections could become an issue. But CPAs are focusing like lasers on their clients. Here’s a pictograph of the verbatim answers we’ve been getting to our Busy Season 2009 survey (Join the survey; get the updates):
It shows clearly that CPAs remain more focused on service than cuts – although those could come eventually.
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How big a problem will it be? Leave a comment, then join the survey; get the answers.
by Rick Telberg/At Large
The economic crash is taking its toll on CPAs this busy season, with clients running late, coming in disorganized and worried about paying their fees.
As a result, CPAs are working as hard as ever, but remain concerned about collections from tax-season business and a post-season drop-off in new billings.
Indeed, last year at this time, when the economic downturn looked like a mere blip, only about a quarter of accountants in our surveys mentioned general business conditions as an issue. So far this year, it’s the single biggest concern for accountants, with almost two-thirds citing the general economic situation as one of their chief concerns.
“Clients are slower than in prior years in bringing in their information,” says the owner of one small firm, who worries “that I will be unable to collect from clients for work performed.”
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