Today's Features

Go Ahead, Use Your Own Router

It’ll probably take some legwork to make the fees stop.

By Rick Richardson

Many Americans are very frustrated that they have to pay a mandatory router rental charge every month as part of their internet service provider bill. It gets added even if you purchase and use your own router in many cases.

MORE TECH THIS WEEK: 5G Delivered Via Hydrogen-Powered Aircraft | Five Edge Computing Predictions for 2021 | What You Need to Know About Amazon Sidewalk | AI Is Open to Anyone with Passion | Microsoft Takes Down Malware Network | Alexa’s Moving into Your Next Apartment
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

But as of Dec. 20, the practice is now illegal, and you can demand your ISP stop the charge.

COVID-19 Brings High-Net-Worth Opportunities

You (and only YOU) are in charge of your success.

By Anthony Glomski and Russ Alan Prince
Your $5-Million High-Net-Worth Practice

We have presented the following equation:

Conviction + Process + Expertise + The COVID-19 Crisis =

$5 Million High-Net-Worth Practice Built Quickly

MORE: Working with the Super-Rich and Single-Family Offices | The Power of Stress Testing | Guiding Clients through COVID | Maximize Referrals from Wealthy Clients | Building a High-Net-Worth Practice During COVID-19 | Setting Financial and Practice Goals During COVID-19
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

So, let us review. Working backward …

How to Get the Most from CPE

Young businessman sleeping on the keyboard in the officeYour mindset makes a difference.

By Ed Mendlowitz
The CPA Trendlines Practice Doctor

QUESTION: Like every CPA I need to take continuing education courses. However most of what I take

  • are not relevant to me,
  • are things I know or
  • are things I don’t really want to know.

MORE: How Improv Can Help Accountants | Strategic Planning for the Small Firm | Before You Sell Your Practice | Work the Client Needs … But Won’t Pay For | 14 Better Uses for Timesheet Data | 9 Must-Haves for Firm Growth | 5 Ways to Build Teamwork
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

Also, many of the speakers are boring. Yet, CPE is big business. Are there any suggestions you can give me to get better use of that time?

Optimize Your Scanning Procedures

Woman in business attire with papers flying around behind her backBONUS: Specific tool suggestions.

By Roman H. Kepczyk
Quantum of Paperless: Technology Guide & Checklist

For the next few years it is anticipated that accounting firm clients will continue to deliver a significant amount of their organizers and supporting tax documents to the firm in a physical format. To utilize this information in a paperless environment, it must be effectively scanned and managed at the lowest possible cost.

MORE: Why You Want a Digital Tax Workflow System | Retaining Documents: How Long and Who Decides? | The Case for Wireless Broadband Access | Maximize Your Office 365 ROI | How the Cloud Impacts Server Replacement | Capturing Documents at the Source
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

Early paperless adopters scanned the tax return and the supporting documents at the back end of the process when a return was complete. This is still usually the first step when firms transition from a completely manual environment.

Identifying the Right Clients for CAS

An organization chart in a ball shapeShow your highest-priced package first.

By Hitendra Patil
Accountaneur: The Entrepreneurial Accountant

Will your existing clients or prospects buy higher-priced and more services from you? If you ask them to, will they feel put off?

MORE: Communicating CAS to Clients and Prospects | 21 Ways to Adjust Your Practice in 2021 | The Services That CAS Clients Want | Six Reasons CAS Is King | How to Develop the CAS Mindset
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

If you do not ask, will you leave real money on the table? If you do not tell them about more services your firm is capable of providing, will they switch to another accounting firm simply because they were not aware of your other services?

A Rapidly Changing Business Environment Requires Flexibility

notepad with word "hire" crossed out and "outsource" written in underneathThis includes outsourcing.

By Steven E. Sacks
The NEW Fundamentals

One of the revelations arising from the Great Recession was that CPA firms found they could do more with less human resources, or at least maintain the same level of productivity. We are now operating in what is referred to as the gig economy, in which important functions can be outsourced and firms and companies can still focus on core competencies that impact growth and profitability.

MORE: Organizational Change Starts and Ends with People | SWOT’s the Purpose? | Is Your Firm’s Culture a Magnet or a Repellent? | Building Teamwork under COVID Pressure | Make Your Writing Count
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

Because it is increasingly challenging to maintain high standards in all functions while still focusing on core competencies that drive growth, seeking outside help is becoming an attractive option. So, when should you outsource services?

When to Cut Your Losses

Man with head down on desk, sticky note with "HELP" writte on it on baseball capTenacity and persistence can be friends … or foes.

By Bill Reeb

You are now at the final leg of the Process. To be here, you had to kick out of the Try (Work)-Evaluate loop because you were either feeling unsuccessful or unhappy about your progress or priorities. This negative evaluation occurs as you are either starting to get stuck or you are already stuck.

MORE: Heading Off Course? Time to Correct | It’s All Right to Enjoy Success | Failure Paves the Road to Wisdom | Are You Paralyzed by Fear? | How to Change the Way You Think (and Why) | Have Your Beliefs Stopped Serving You?
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

Because you have already worked through the techniques of “What You Are Thinking,” it’s time for us to walk through the other side of this evaluation, which is “What You Are Doing.” These techniques should help you find ways to get unstuck from what you are doing so that you can once again start regaining momentum toward whatever goal you are trying to accomplish.

How the Managing Partner Manages the Partners

Silhouettes of three business partners talking against a window in an officeIt’s a people job.

By Marc Rosenberg
The Role of the Managing Partner

This is a saying I developed about partners that stands as tall today as it did 20 years ago: “As the partners go, so goes the firm.”

MORE: Overarching Authority That Managing Partners Must Have | Exceptional Managing Partners Offer Their Advice | Why Management Is the #1 Key to the Firm’s Success | Herding Cats: Advice for Managing Partners
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

This means that the partners are the drivers of the firm’s success. To be sure, nonpartner personnel are critically important to the firm’s success, but nowhere near the level of the partners, who

  • Bring in the clients
  • Keep the clients
  • Help clients grow
  • Satisfy clients’ needs by cross-selling services
  • Mentor staff, helping them learn and grow
  • Embrace the firm’s core values and spread the word to others
  • Manage the firm and provide leadership to all