Accountants Gear Up Marketing Efforts in Battle for New Business

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By CPA Trendlines Research
Gear Up for Growth: The Marketing Trends Manual for Accountants

The American economy is booming, the tax code is changing, and there’s a lot of new and expanding business for tax and accounting firms to serve.

So it’s no surprise that firms are ramping up their marketing efforts to compete for the bounty that’s out there.

About 73 percent of firms are planning additional increases in their marketing efforts, according to "Gear Up for Growth: The Marketing Trends Manual for Accountants," conducted in collaboration with Capstone Marketing. Barely 4% are cutting back.

The survey remains open and participants receive a special executive summary of the topline results at no charge, just for taking the survey. Join the survey. Get the results

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Should the IRS Go Down in History?

Stock image of businessman pushing a giant stack of documents isolated on white background3 reasons an agency historian would be a good idea.

By CPA Trendlines Research

Karl Marx may have been wrong about workers rising up against their capitalist overlords, but he was right in observing that much of history can be explained by economics.

MORE: 5 Easy Ways That Congress Could Fix Tax Collection | 4 Ways to Fix IRS Collections | Taxpayers Deserve Better Receipts | What’s the Real Impact of IRS Audits?
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If history and economics go hand in hand, it makes sense  that the Internal Revenue Service, an entity through which trillions of dollars pass in a constant flow, should have an in-house historian. Its policies, programs, decisions, managers, records, cases, controversies and artifacts are an important part of American and world history – but only if they survive for historical analysis.
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4 Ways to Fix IRS Collections

Home foreclosure? Put on the brakes.

By CPA Trendlines Research

Tax assessment and collection – this is the juncture where taxpayers really get to know their favorite federal agency ... or, if not favorite, the only one that touches virtually every working American.

MORE: 3 Ways to Improve IRS Levies | How the IRS Abuses ‘Math Errors’
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It can be a heavy touch to a tender area, the one in the vicinity of the wallet. So it’s a touch that can always use improvement.

Fortunately for taxpayers, the Tax Advocacy Service  suggests 16 ways Congress could make the assessment and collection touch a touch softer.
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3 Ways to Improve IRS Levies

Hand drawing a rainbow-colored 3Because common sense isn't always common.

By CPA Trendlines Research

There’s a rumor that the pillared citadel of the Internal Revenue Service on Constitution Avenue has a secret room where no one ever goes. It’s the largest room in the building, yet empty save for distant echoes in the dark. The room has a name. It’s called The Room for Improvement.

MORE: How the IRS Abuses ‘Math Errors’ | Taxpayers Deserve Better Receipts | Troubles with IRS Private Debt Collection | What Difference Does One Word Make? | What’s the Real Impact of IRS Audits? | Data Divers Profile Taxpayer Filing Styles
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OK, that’s an exaggeration. The IRS is constantly improving, at least when Congress gives it the funds to do so.

But that doesn’t mean The Room isn’t there.
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How the IRS Abuses ‘Math Errors’

Businesswoman with headache at laptopOIC fees, partial payments are counterproductive.

By CPA Trendlines Research

Improve the Internal Revenue Service?

Yes, it is still possible.

One general area that could use some big-time tweaking is that of tax assessment and collection procedures. The National Tax Advocate has found no fewer than 16 ways to make the IRS more fair and more efficient.

Which ones would you recommend? READ MORE →

Are You Ready for the New Lease Accounting Standard?

Dart stuck in bull's-eye of dartboard8 steps to take.

At the start of 2019, the implementation deadline for the Financial Accounting Standards Board’s (FASB) new lease accounting standard passed for public companies.

Now, the focus – and pressure – is on privately held organizations, which must adopt the requirement by 2020.

And new research suggests that many of these firms may find themselves scrambling to meet the deadline for compliance.
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The #1 Problem: Staffing, Staffing, Staffing

CLIENT

Smallest firms plagued most by growing tax complexity. 

via AICPA

Staff recruitment remains the top issue for most CPA firms, while growing tax complexity and risk management regarding privacy and data security are rising challenges, new research by the AICPA shows.

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“Finding qualified staff” is the No. 1 issue for every firm-size segment except sole practitioners, according to the 2019 PCPS CPA Firm Top Issues Survey, matching the topline results from the last survey two years ago.

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The ABCs of Building a Financially Healthy Medical Practice

Portrait of Reed Tinsley
Tinsley

Checklist: 24 practice statistics you should benchmark for medical-office clients.

By Reed Tinsley

Reed Tinsley, CPA is a Houston-based CPA, certified valuation analyst and health care consultant at rtacpa.com. He works closely with physicians, medical groups and other health care entities with managed care contracting issues, operational and financial management, strategic planning, and growth strategies. His entire practice is concentrated in the health care industry.

As changes continue to occur in the health care industry, physicians are taking a hard look at the numbers of a medical practice and gauging whether the year at hand will be economically successful.

To analyze the productivity of the practice, physicians depend on accurate and timely information. However, with the focus of every practice on delivering quality health care, the financial side often becomes neglected or ignored. This is where you, as their CPA, come in. READ MORE →