GROWTH STRATEGIES

Art Werner: Just Don’t Call it a Trump Account | Quick Tax Tip

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Trump accounts can be “one of the best” long-term planning options, despite their name, says Werner.

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Quick Tax Tip
With Art Werner
CPE Today

More Werner on Trump accounts.

Trump accounts are “one of the best provisions that we have seen,” tax expert Art Werner says in this Quick Tax Tip.

Acknowledging that the name itself may create resistance among some taxpayers, he says that for people who are not fond of President Trump, “when they hear the name Trump account, it turns them off.” But if they dismiss the account because of its name, he adds, “they are walking away from a tremendous opportunity.”

MORE Art Werner | MORE CPA Trendlines Streaming Network

Werner explains that funds in a Trump Account are effectively locked away until the child reaches age 18. Once the beneficiary reaches adulthood, the money can be used for specific purposes that he describes as major life milestones, including higher education, purchasing a first home, starting a business, and ultimately retirement planning.

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Nancy McClelland: Bookkeepers Need a Safe Space to Collaborate | The Disruptors

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Bookkeepers often feel less empowered than tax professionals.

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The Disruptors
With Liz Farr
For CPA Trendlines

Nancy McClelland wants to do more than just run her firm, The Dancing Accountant. She has two big passion projects that are creating the conversations and collaborations this profession desperately needs. Her community, Ask a CPA, aims to bridge the gap between bookkeepers and tax professionals. She also co-hosts a podcast with Questian Telka, She Counts, which provides a safe space for women in accounting to discuss real issues.

MORE STREAMING: 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 | Vanover: 5-Star Firms Don’t Bill by the Hour | Kless: Profit Is a Result. Flourishing Is the Purpose | Whitman: Build Culture on ‘Progress,’ Not Change | Shein: No PE? No M&A? No Problem | Hood and Weber: Time to RISE | Proctor: Turn Dumb Ideas into Brilliant Solutions | Carter-Gray: How 1 Poor Review Strengthened the Firm | Hartman: Upwork to “40 Under 40” in 3 Years |

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McClelland started the Ask a CPA Community when she noticed “this big gap that wasn’t about technical knowledge. It was about permission, about permission to collaborate.” While “bookkeepers are often the closest person to the financial truth of a business,” historically, “they’ve been positioned as subordinate to tax preparers, just sort of expected to hand off things and hope that they did it right,” McClelland explains.

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Unlock Accelerated Growth with 21 Questions

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Business hand holding hot chart in crystal ball

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.

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Find the Right Advisory Opportunities Faster

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Leading firms move from fishing to targeted.

By Eric Eager
10X Advisory

Most CPA firms trying to grow advisory services fall into the same trap: they go fishing.

They cast a wide net – checking in with clients, holding open-ended discovery meetings and hoping something useful comes up. This manual, relationship-driven approach can work, but it’s painfully slow, hard to scale and hit-or-miss in identifying who actually needs help now.

MORE by Eric Eager
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The intent is good. But in a world moving faster than ever, it’s no longer enough to wait for clients to reveal their needs. The firms that are winning aren’t just listening better – they’re looking smarter.
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