Four in five expect the same or better than last year’s busy season. by Rick Telberg As Busy Season 2012 gets into full gear, tax and accounting professionals are holding steadfast to their confidence that this year’s results could show a marked improvement over last year’s, according to current readings of the profession by CPA Trendlines. With January 2012 just beginning, 55% of accountants expect 2012 to be overall “somewhat” or “much” better than 2011, which is relatively unchanged from readings in November and December. To be sure, 26% expect no change from last year, and 19% are bracing for “worse.” In other findings from the CPA Trendlines busy season barometer and related reports: Accountants Expecting a Better Busy Season [...]
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The economy turns a corner. According to a survey of U.S. accounting firms by Sageworks, 92% of financial professionals believe that businesses will either maintain or increase their employee count in 2012.
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Strategy 2012: Battling for Market Share What are your critical challenges for 2012, and what can do you about them? A number of the profession’s leading lights have been sharing their thoughts with Accounting Today. Here’s one: Charles Postal Santos Postal & Co. We see a shrinking market share of small and medium-sized businesses with the need for premium accounting services caused by increased competition from larger firms with greater resources.
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But no new hiring. via AICPA The outlook for the U.S. economy improved in the fourth quarter, but broad pessimism about the progress of a recovery persists, according to the fourth quarter AICPA Economic Outlook Survey, which polls chief financial officers, controllers and certified public accountants in executive and senior management accounting roles.
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October’s performance represents a third straight month of gains and a year-to-year gain of 60,800 jobs, bringing the industry’s payroll to 932,200 employees.
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52% support personal tax increase to help balance the budget.
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Open “accountant” jobs has increased 64% and the number of open “CPA” jobs has declined 11%
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Get the briefing paper on the “American Jobs Act.” With hopes of stimulating national job growth in the near future, President Obama is urging Congress to pass a $447 billion jobs package. But many tax practitioners just want to know: Will all the rules, regs and forms be ready in time for the 2012 filing season? “The administration wants Congress to act on this fast,” says CCH Principal Federal Tax Analyst Mark Luscombe, JD, LLM, CPA. “Tax relief aimed to help small businesses may be a key point for lawmakers to find common ground on this bill.” “But it may be difficult for the IRS to administer some of the tax provisions if the package is passed,” he says. GET [...]
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Sixth month of year-over-year gains. by Rick Telberg Employment in the accounting and bookkeeping sector slipped by a statistically insignificant 800 jobs in August, to 922,400 people. That was barely a change from June’s 923,200-jobs level, and it represents the third straight month of declines. But it also represents the sixth month of year-over-year gains.
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