As many busy season clients – individual and corporate alike – get hammered by a crashing economy and uncertain business conditions, CPAs are doing their best to help. by Rick Telberg “Clients are overwhelmed by the current state of the economy, imploding asset values and credit issues,” according to Daniel J. Domancich, a CPA and CFP in Huntington Beach, Calif. The best you can do, he advises other CPAs, is: “Stay positive.” “Make sure you are adding value to your services,” Domancich says, “by offering personal, attentive, proactive and knowledgeable services.”
Some CPAs are ahead of the curve. Here’s one of them. Kathleen Huston, head of McGuire Williams CPAs, posts: Ah, how do you make tax meetings less painful and less dry?Â Meet and greet at Starbucks. You get to swill some tasty java while giving some sage tax advice. This is the new meeting place chosen by the Gen-X society. So, I decided to GO WITH THE FLOW. On Wednesday or Friday when I am already working remotely, I schedule meetings with those clients who are the city dwellers and many don’t even own a car. First thing they want to know when scheduling a meeting is where the nearest Metro station is. Of course, our office is about 1 [...]
Most tax professionals are having at least as good or better season this year. But the economy threatens fees and collections. Join the survey; get the updates. The latest data show for the week ended March 15, 34% of practitioners report the season is running “better” than last year’s season, up from 25% in the previous week, ended March 8. Meanwhile, the number reporting “worse” conditions dropped to 21% from 27%. And the “about the same” has remained, well, aboutÂ the same. Economic problems seem to be characterizing Tax Season 2009, with about 73% of accountants now calling it a real challenge, compared to about 62% a month ago. Clearly, accountants are more worried about matching last year’s revenues and [...]
The recession may be the single biggest factor affecting tax professionals in this year’s busy season. But, in the end, it’s all about clients. Ask a CPA, “What the biggest difference about your tax season this year?” And, collectively, they’ll draw you a picture that looks like this: No doubt, the deepening recession is the biggest problem for CPAs this year. By comparison, last year at this time, the economy was a major problem for only about 26% of professionals. Clients are coming in later than usual, usually more more disorganized and worried about covering the fees. Professionals are racing to stay up to date with all the breaking news and worrying about billing and collections. Howâ€™s busy season for [...]
The American Institute of Certified Public Accountants announced that Barry Melanconâ€™s term as president and CEO has been extended for an additional five years by the Instituteâ€™s Board of Directors.
Early results from a new survey into how CPAs spend their time online, shows that they shop regularly and attend webinars. But ask them what they enjoy doing online, or where they “hang out,” and you get a different picture… This one: This wordle.net pictograph is drawn from the verbatim responses of 137 CPAs on Feb. 19 and 20, 2009. To get the updates and complete results, join the CPA Trendlines survey panel here. Meanwhile, leave a comment here: Where do you like to hang out online and what do you do there? (CPA Trendlines research by Bay Street Group LLC. Data copyright 2009 AICPA.)
A few years ago Scot Justice was working for a printing company in Nashville and hoping, someday, to open his own CPA firm. He started blogging as an introductory web presence and marketing tool. A year or so later the company was sold and he was out of a job — and he couldn’t have been happier. Scot says today: Fifty-percent of the prospects who contact me mention this blog and how the topics I’ve written about directly relate the financial management and accounting help their business needs. Scot’s marketing consultant Bill Seaver has the rest of the story, and the video, here: Blogging and Twitter Send CPA 75% of His Business. Read Scot’s blog here.