OUTLOOK & ANALYSIS

Payroll Leads Job Gains in Tax & Accounting Sector

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line chart
Overall accounting profession employment

 

Everyone is earning more this month, and most downs are slight.

By Beth Bellor
CPA Trendlines Research

The tax and accounting profession is not a bad place for job seekers, it seems. A new analysis by CPA Trendlines shows a lot of up notes, including some in the double digits.

MORE ON JOBS: Let Interns Fix the Staffing Shortage? | Accountants Bullish Locally, Bearish Nationally | Accounting Hiring Hits Another High | Compensation’s Up, but Up Enough to Retain Staff? | Staff Wages Hit Record High | Despite Staffing Crunch, Firms Freeze Pay Raises | Tax & Accounting Firms Grow for 9th Straight Month | Tax & Accounting Profession Grows, but Wages Don’t
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New highs are coming in:

  • The accounting profession overall
  • Staff earnings
  • Payroll staff
  • Payroll staff earnings
  • Women overall and in CPA firms

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Disruptors: Talent Crisis? What Talent Crisis?

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Disruptors Wiley, Deshayes, Satterley, Etienne, Penczak and Vanover offer their takes on staffing in the accounting profession.

By Amy Welch

In a post-pandemic gig economy, the rest of the world laments the staffing crisis. However, while the solutions may not be easy, they seem to be pretty simple.  

Follow the Disruptors here

MORE THOUGHT LEADERS: James Graham: Drop the Billable Hour and You’ll Bill More | Karen Reyburn: Fix Your Marketing and Fix Your Business | Giles Pearson: Fix the Staffing Crisis by Swapping Experience for Education | Jina Etienne: Practice Fearless Inclusion | Bill Penczak: Stop Forcing Smart People to Do Stupid Work | Sandra Wiley: Staffing Problem? Check Your Culture | Scott Scarano: First, Grow People. Then Firm Growth Can Follow | Jody Padar: Build a Practice that Works for You, Not Vice-Versa | Ira Rosenbloom: With M&A, Nobody Wants a Fixer-Upper | Peter Margaritis: The Power Skills Every Accountant Needs | Joe Montgomery: Find the Sweet Spot of the Right Clients, Right Services and Right Prices | Marie Green: Your Bad Apples Are Ruining You | Megan Genest Tarnow: Hire for Curiosity Rather Than Compliance | Clayton Oates: One Way to Keep Clients for Life |

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In the CPA Trendlines Disruptors one-on-one interview series with Liz Farr, some of the profession’s most innovative thinkers suggest solutions ranging from re-examining your firm’s culture to tapping into two-year colleges for new talent. Here, several weigh in on what they see as the potential answers to one of the most troubling issues in the accounting profession.

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Tax Refunds Up About 4%

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data table

Visits to IRS.gov top half a billion.

By Beth Bellor
CPA Trendlines Research

The tax season has overcome its later start, with all the IRS’ weekly markers surpassing 2023 figures except for the total numbers of refunds and direct deposit refunds.

MORE: Tax Pros Own 53% of E-filings | Tax Stats Still Playing Catchup | Tax Pros Take the Edge in E-Filings | Tax Pros Gain Ground, and DIYers Maintain Lead | Tax Pros Handle 46.4% of E-filing | Tax Refunds, Tax Pro Market Share Trending Up | Refunds Up as Tax Pros Tackle 41.5% of E-filings | Tax Pros Handle 37.7% of E-filings | Tax Pros File 33% of Early Returns
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As of April 12, the latest data available, the agency had received 119.6 million individual income tax returns, up 1.9 percent from the same period one year ago. It had processed 118.1 million returns, up 1.7 percent.
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CPA Profession Facing More Battles Across the Country

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Disputes revolve around required hours, definitions and “substantial equivalency.”

By Steven Sacks
The NEW Fundamentals: Thriving in Disruption

Of all the states whose legislature has run amok this past year, the Florida legislature passed House Bill 813 – Certified Public Accountants – by both the Florida House and Senate. This bill creates a new “retired status” license category for CPAs. The legislation will now be sent to Gov. Ron DeSantis for consideration for being signed into law.

MORE: 150 Hours Revisted: The Profession Needs a Makeover | How Do You Value Your Most Important Asset? | Which is Better: A Year of Education or A Year of Experience? | Sell Service, Not Hours | Private Equity vs. the CPA Firm Partnership | CAS or CAAS? Getting Clarity | Fine-Tuning the Subscription Fee Model | When Cyber-Crime Hits Close to Home | How to Build a Winning Proposal | Six Ways to Fix Your Firm Agreement
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According to the Florida Institute of CPAs CEO, the thinking behind this is to “… uphold retired CPAs’ profound sense of pride and accomplishment and preserve their professional identity.” However, they cannot reflect to the public that they have an active license because many believe the public thinks that if you have “CPA” after your name, you have an active license. If an individual wants to return to public practice, they can complete 80 hours of CPE every two years as part of renewing their license.

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