Today's Features

34 Ways to Make More Money

How many of these can you begin right now?

By Ed Mendlowitz
The CPA Trendlines Practice Doctor

QUESTION: Do you have any tips on how I could make more money?

MORE PRACTICE DOCTOR Q&A: The Six Rules To Get the Most Out of CPE | Hate Meeting People? Try Improv (No Joke) | Help Clients, Increase Revenue: Make Sure Everyone on Staff Knows Your Firm’s Full Menu of Services | How to Sell Your Practice | When a Client Balks at Necessary Work | Why More Firms Are Trashing Timesheets | Clear Billing Procedures Make Collecting Easier | How to Make Staff a Team Again

ANSWER: There are always ways to make more money. This includes managing every aspect of your practice and striving for productivity growth. Here is a checklist with quite a few ways you can make more money.

The Puck That Tracks Your Time

Tiller in actionBilling by the hour? This could help.

By Rick Richardson

Do you ever wonder how long you spend reading emails or doing research?

MORE TECH THIS WEEK: Robots Invade News Reporting | Check Devices for BlueBorne, a Silent Bluetooth Vulnerability | Magnify Your Smartphone Screen | Hackers Using Hotel WiFi to Spy, Steal Data
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A little device named Tiller may be able to get you an answer.

Your Clients on Your Terms

Two businesswomen shaking handsWho should dictate how to run things? And are your accountants doing too much admin work?

By Rob Nixon

It’s interesting how accounting practices evolve with their clients. It seems that over the years, the clients have just turned up (via referral mainly) and you have accepted all who walk through your door – almost like your firm is a community service or a charity.

MORE ON STRATEGY: Mindset Is Everything | Accountants Are the Last Trusted Advisors | Why Average Project Value Matters | The Bizarre Habits of Accountants | Sales Is Like Workflow Management | Marketing Objectives Determine Marketing Amount | Turn Your Knowledge Into Products | How to Create 4 New Billable Hours per Day | Is Your Business By Design or Default? | The World Is Flat | The Profession Disrupted: Compliance Commoditized
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As time passes, the clients stay with you and many of them are not that enjoyable to deal with. Many of your current clients do not fit your direction and they supply information in a format and timeframe that suits them. It’s not your clients’ business, it’s your business!

Use Checklists to Manage Your Tax Firm

Green checks being made on checklistDon't let marketing be an afterthought.

By Jassen Bowman
Tax Resolution Systems

In an ideal world, every business day would feel like the movie "Groundhog Day."

MORE: Checklists for Your Tax Resolution Office Setup | The Ins and Outs of Hiring and Firing | Market to Your Ideal Clients | One-Step vs. Two-Step Marketing | Tax Resolution: A Lucrative Opportunity | 5 Reasons Your Firm Training Needs Nano Learning
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The same things would happen at the same times, day in and day out. Your business would run like a well oiled machine that simply puts out marketing, takes in clients and cashes checks.

Make the Most of Trade Shows

Trade showPlus some mistakes to avoid.

By Sandi Leyva

Events are fabulous ways to leverage face-time selling activities. If you have eight leads, it can take you eight hours or more of one-on-one selling before they have had a chance to get to know you.

MORE SMALL FIRM GROWTH STRATEGIES: Speaking: How, Where and Getting Leads from It | Build Your Community Reputation | Build Reputation through Credentials, Testimonials | 5 Ways to Get More Referrals | Use Feedback for Service Innovation | Create Your Marketing Plan
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In an open house, speaking or at trade shows, you have the chance to meet hundreds of people in a compressed amount of time. That’s why marketing at events is so effective. It’s a great use of your marketing time.

Jordan Cornelius: Guiding Cannabiz Clients through Minefields

    Cornelius: "I’ve seen operators get angry, cry, put their businesses up for sale."

Archaic laws and regulations plague booming new industry.

By Liz Gold

The two biggest challenges facing businesses following the green rush in Colorado today?

Taxes and banking.

GoProCPA.comMORE CANNABIZ for PRO MEMBERSA CPA’s Unexpected Journey into the Cannabis Industry  |  The Two Crippling Compliance Issues for Cannabis IndustryWayne Harding: From Tech Boom to Cannabis Boom   |  Billion-Dollar Questions: Cannabis FAQ for Accountants   |  Ready or Not: CPA Firms Find New Opportunity in Booming Cannabis Industry  |  America’s New Breed of Cannabis CPAs [VIDEO]  |  Pioneering Cannabiz CPA Warns: Tread Softly  |  IRS Section 280E & Marijuana: Tax Limbo or Hell?  |  The Rise of a Cannabiz CPA  |  CPA Cannabiz Boom  | The Wild World of Weed: Tax Season Never Ends |  What’s a Cannabiz Worth? Ask a CPA.

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When operators first get into the industry, everybody is looking at the top line and are not too concerned with taxes, says Jordan Cornelius, owner of Cornelius CPAs in Denver, Colorado.

“It’s a problem, taxes are a huge deal,” he says.


Technology Playing Center Stage in CPA Profession

Woman using midair interfaceAlso: Retirees who want their buyouts had better transition their clients.

By Marc Rosenberg
Rosenberg MAP Survey

Anyone knowledgeable about the state of the CPA firm industry would agree that technology is playing center stage

The potential of blockchain, artificial intelligence and data analytics is set to transform CPA firm technology in the same way that previous blockbuster inventions – PCs, laptops, the Internet and software – did that almost instantly made obsolete the manual work CPAs painstakingly performed for decades.

Every year, the authors of the Rosenberg MAP Survey ask the industry’s top consultants to share their observations of what they are seeing at CPA firms. Specifically, they are asked the following questions: READ MORE →

You Don’t Need More Clients. You Need Better Clients.
Click to learn more

AccountantsWorld sets N.Y., N.J. conferences on client accounting services.

AccountantsWorld plans to show practitioners how to grow and streamline accounting and payroll offerings with strategies for delivering more value to clients through two three-hour conferences in the New York and New Jersey area.

The live in-person events are scheduled at 8:30 a.m. to 11:30 a.m. Oct. 20 at the Melville (N.Y.) Marriott Long Island, 1350 Walt Whitman Rd. Melville., NY 11747; and Oct. 27 at the Hilton Newark (N.J.)  Penn Station, 1048 Raymond Blvd., Newark,  NJ 07102. Each provides 2.5 hours of free CPE. Learn more and sign up here

"When clients can do what you do, your value and relevance go down," says Hitendra Patil, a CPA Trendlines expert author and AccountantsWorld director of practice development. "What is left is a fee and price pressure."