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CPA PE Deal Tracker™: 57% Say PE Threatens the CPA Brand. But They’ll Take the Money.
Thirteen firms rolled up in May, 92 this year.
By CPA Trendlines
As the CPA Trendlines CPA PE Deal Tracker™ adds 13 more closings for the month of May, a new survey shows accountants worrying about PE tarnishing the image and reputation of the profession. But half say they might take the money anyway.
MORE Private Equity
Nearly half of the professionals surveyed— 49.5 percent — describe themselves as decidedly opposed to private equity investment: fiercely independent, not interested, never ever.
The rest, a bare but discernible majority, are not. They would do a deal for the right price. Or they are already in play. Or have already done a deal.
“It only makes sense to keep our options open,” says Michael Royer of Royer Advisors and Accountants in Falmouth, Maine. He is not opposed, and he is not sold, adding “it’s still a personal business — and we don’t know the full impact of AI.”
Chase Damiano: Good Operations Means Defining How the Hand-Offs Happen | The Disruptors
When leaders neglect to delegate, chaos reigns.
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The Disrupters
With Liz Farr
For CPA Trendlines
Chase Damiano, founder of Human at Scale, says that operations are the missing piece for many firms. “It’s sort of this bridge or glue that allows a business and a team to function well together,” he says. “I see it as the intersection of people and process and technology and culture.” What that looks like in practice, he said, is a firm where the team is happy, clients are satisfied, work is delivered on time and at high quality, and the owner has the freedom to focus on strategy and growth and has the time to spend on non-work things like family.
MORE DISRUPTORS: Candy Bellau: The $350 Pricing Mistake that Nearly Broke this Boutique Firm | The Disruptors | Poe: What P.E. Really Wants from Firms | The Disruptors | Blake Oliver: Build a Biz that Runs Without You | Daiber: Use Succession as a Growth Strategy | Cannon: Busy Season is Self-Inflicted | Carroll: When One Person Can Break the Firm | Rampe: Build a Roadmap Even When the Road’s Not There | Chang: Killing SALY, One Agent at a Time |
While many consulting firms “might just drop in the deliverables and then leave it up to the team to integrate that on their own,” Human at Scale has a different approach. “We actually embed within the accounting firm, we implement, and we execute alongside of the CEO and their team,” Damiano explains. READ MORE →
Art Werner: Intro to Trump Accounts | Quick Tax Tip
Trump Accounts provide new opportunities for families, employees and closely held businesses.
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Quick Tax Tip
With Art Werner
CPE Today
Tax expert Art Werner is launching a series of tax tip videos focused on Trump accounts.
MORE Art Werner | MORE CPA Trendlines Streaming Network
In the series, he provides a comprehensive overview of how these accounts work, how they compare to other investment options, the tax advantages they offer, potential issues practitioners should be aware of, and related fringe-benefit opportunities.
The goal is to help advisors become knowledgeable enough to confidently guide clients and evaluate whether Trump accounts may be a beneficial planning opportunity.
Ten Tax Issues That Add New Revenue
Plus four “how much” questions you can put numbers to.
By Ed Mendlowitz
How to Build a Stronger Tax Practice
As you see each tax prep client you should keep a list of additional services you can offer them. Also, continue this list when you review each return.
MORE by Ed Mendlowitz
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I prepare a list of follow-up items during a tax season on my Microsoft Outlook task list. These items are entered as the issue or idea arises. It is simple, quick and very satisfying. The next job will be to make the time to follow up with the client, and do your “good deed.”
READ MORE →
Unlock Accelerated Growth with 21 Questions
Don’t stay attached to traditional models that no longer suit you.
By Domenick J. Esposito
8 Steps to Great
When it comes to growth, two of my core beliefs are:
- size matters, and
- service line diversification (the professional services model) is better than the traditional accounting firm model.
MORE by Domenick J. Esposito
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The proof is in the pudding.