Daily Archives: April 3, 2011

Tax Season 2011 Disappoints Some

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Despite economic recovery, many firms seem unable to capitalize on new opportunities. Click here to join the Tax Season 2011 survey; get the results.

March survey results show 18% of accountants reporting "much" better overall results than a year ago and 26% reporting "somewhat" better results. Source: CPA Trendlines Research

Tax accountants are finishing the 2011 busy season with stronger results than they expected, but – perhaps surprisingly — not as strong as last year, despite somewhat improved economic conditions.

CPA Trendlines research suggests that many accounting firms may have over-reacted to the 2007 market crash by cutting staff and billing rates, leaving them unprepared to capitalize on the opportunities of the 2011 recovery.

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No Surprise: The Best Firms Pay More

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But they bill for it too.

Annual compensation. Source: INSIDE Public Accounting via CPA Trendlines

The best firms, according to INSIDE Public Accounting, start paying more from the first day and from the bottom up. For instance, IPA’s Best of the Best pay new graduates about $55,000, compared to $50,000 at their competitors — a 10% advantage that generally carries through every job level. READ MORE →