Getting Bonuses from Clients

Man putting dollars into suit pocketALSO: Value pricing vs. value billing.

By Ed Mendlowitz
Call Me Before You Do Anything: The Art of Accounting

I’ve written about being independent and not selling financial services or products to clients. Quite a few people called me to ask about “value billing” and how that fits in. Here are some comments.

MORE: Yes, Christopher Columbus Had an Accountant | My ‘Brand’ Is the Exciting History of Accounting | Social Security Is an Asset Class | How to Waste Lunch Hour | What’s Your Negotiating Style? | How to Make Your Own Opportunities | How I Became a Published Author
GoProCPA.comExclusively for PRO Members. Log in here or upgrade to PRO today.

To start, value pricing is a pretty straightforward issue for those who truly value price and a misunderstood issue for most who do not. I cannot treat it completely in a short article and refer my readers to Ron Baker’s book, “Implementing Value Pricing.” However, today I will address the focus of my caller’s questions about value “bonuses” from clients.

Already a PRO Member? Click Here to Login & Continue Reading →

Go PRO Today: Choose one of these great offers

EASY!

Monthly Plan, $24.97
Save $5/month (17%)!

CLICK HERE
FOR
THE EASY MONTHLY PLAN

7-day, no-risk free trial
then billed to your credit card monthly.
(Cancel any time)
Regular monthly rate: $29.97

BEST VALUE!

Yearly Plan, $249.95
Save $110/year (30%)!

CLICK HERE
FOR
THE BEST SAVINGS

7-day, no-risk free trial
then billed to your credit card annually.
Regular annual rate: $359.95

See our Special Covid Crisis Special Offer!

24-HOUR DAY-PASS

One-Time, $12.99
Some limitations may apply.

CLICK HERE
FOR
ONE-TIME ACCESS

Get instant access, expires in 24 hours.
One-time, non-recurring, charge of $12.99

Edward Mendlowitz

Ed Mendlowitz, The CPA Trendlines Practice Doctor

About the Author

Edward Mendlowitz, CPA, ABV, PFS, is a partner in Withum Smith + Brown’s New Brunswick, NJ, office and has over 40 years of public accounting experience. He's CPA Trendlines' "Practice Doctor."

Click here to send Ed your toughest questions and comments.

 

Ed Mendlowitz in the CPA Trendlines Store:

More by Ed Mendlowitz

He is a licensed certified public accountant in the states of New Jersey and New York and is accredited by the American Institute of Certified Public Accountants (AICPA) in business valuation (ABV), certified in financial forensics (CFF) and as a personal financial specialist (PFS). Ed is also admitted to practice before the United States Tax Court and has testified as an expert witness in federal and state court regarding business valuations, and twice at the House Ways and Means Committee on tax reform, fairness, and reduction. A graduate of City College of New York, Ed earned his bachelor of business administration degree.

He is a member of the AICPA, the New Jersey Society of Certified Public Accountants (NJSCPA) and the New York State Society of Certified Public Accountants (NYSSCPA). In addition, Ed was a founding partner of Mendlowitz Weitsen, LLP, CPAs, which merged with WS+B in 2005. Currently, he serves on the NYSSCPA Estate Planning Committee and was chairman of the committee that planned the NYSSCPA’s 100th Anniversary. The author of 19 books, Ed has also written hundreds of articles for business and professional journals and newsletters.

He is the contributing editor to the Practitioners Publishing Company’s 706/709 Deskbook, and the AICPA’s Management of an Accounting Practice Handbook, Corporate Controller’s Handbook and Wiley’s Handbook on Budgeting and is on the editorial board of Bottom Line/Personal newsletter and the Journal of Accountancy Member Panel on Business Valuation. Appearing regularly on television news programs, Ed has also been quoted in numerous major newspapers and periodicals in the United States. He is the recipient of the Lawler Award for the best article published during 2001 in the Journal of Accountancy.

Ed is a frequent speaker to many professional and business groups, including the AICPA, NJSCPA, NYSSCPA, American Management Association, the National Committee for Monetary Reform, University of Medicine and Dentistry in NJ and many more. For 11 years, he taught courses on financial analysis, corporate financial policy and theory, monetary and fiscal policy and managerial accounting in the MBA program at Fairleigh Dickinson University.

Click here for more by Edward Mendlowitz