Today's Features
AUDIT & ASSURANCE

Be Flexible about Your Audit Team

Four businesswoman having a meeting around a table

Not everyone needs an accounting degree.

By Alan Anderson, CPA
Transforming Audit for the Future

Firms these days are throwing technology at audit and calling it innovation. But if you try to roll out too much at one time, that’s a disaster. Your people won’t have any time to talk to the client and figure out what’s going on in the business if they’re too busy trying to figure out how all the pieces of technology all work together.

MORE by Alan Anderson
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A better approach is to prioritize the technology rollouts and cut those in half. Focus on the two or three that are the most important. If you try to do too much, your implementation will fail. A partial implementation won’t get you anywhere. Partial implementations tend to result in complicated workarounds, so the new tech not only doesn’t save time or effort, but it actually makes it harder to get the work done.
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ADVISORY & CONSULTING

Ten Travel Expense Deduction Tips | Listicle

https://cpatrendlines.com/category/checklist/listicle/By CPA Trendlines Research

Clients can realize significant tax benefits by deducting travel expenses, especially those who travel frequently for business.

MORE Listicles here
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Here are 10 tips to help navigate the complexities of travel expense deductions:

1. Shipping of Baggage and Materials: Costs for shipping baggage, samples or display materials over to your destination are deductible.
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ADVISORY & CONSULTING

Master the ROI Method: Price for Value, Not Time

If you can save a client $30,000, isn’t that worth $10,000?

By Jackie Meyer

We already set the foundation for moving to high-value advisory services. Now let’s talk about how to price those services in a way that reflects their true value and empowers you to achieve the Balanced Millionaire lifestyle.

MORE: From Compliance to Advisory: Shifting the Value Proposition | Niche Down to Scale Up | 7How to Define Your Vision | How I Became an Accidental Entrepreneur | Build a Seven-Figure Firm in Four Hours a Week
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This is where the ROI (Return on Investment) Method comes in.

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PRO Member Exclusive

Use Goodwill to Maximize Exit Readiness 

portrait of Randy Fox
Fox
 Randy A. Fox, CFP, AEP is the founder of Two Hawks Consulting LLC. He is a nationally known wealth strategist, philanthropic estate planner, educator and speaker.

Three steps to get you started.

By Randy A. Fox, CFP, AEP 
The Holistic Guide to Wealth Management

For many of your clients who are successful entrepreneurs, their business represents 80 percent to 90 percent of the value of their estate.

MORE: An Accountant’s Role in Exit Planning | How to Prepare Your Clients’ Kids for Their Inheritance | Annuities and Insurance Growing More Attractive | Quantifying the Value of an Advisor | Raise Your Rates to Change Your Clientele | How WealthTech Is Reshaping the Future of Holistic Advice | Profile of a Modern Firm: Putting the Vision into Practice | Tsunami of M&A, PE Is Disrupting the Accounting Profession | Introducing You to a Fulfilling Return on Relationships
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While it seems like a large number on paper, it’s often illiquid, preventing the owner from enjoying the rewards of all their hard work. The lack of liquidity can also make owners reluctant to do the right kind of planning to maximize their “walk away” money post-sale.

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ACCOUNTING INFLUENCERS

Brannon Poe: PE Drives Prices–And Change | Accounting Influencers

What forces are really driving firm sales—and what separates the sellable from the stagnant?

Sponsored by “Holistic Guide to Wealth Management” by Rory Henry, CFP, BFA  – See Today’s Special Offer

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Accounting Influencers
with Rob Brown

The great reshuffle in accounting is underway.

With three-quarters of the profession approaching retirement age and M&A activity reaching historic highs, many firm owners ask the same question: What’s my practice worth?

Brannon Poe, CPA, founder of Poe Group Advisors, joins the Accounting Influencers to offer a rare, inside look at how deals are being made, what buyers are looking for, and how firm owners can prepare for a successful exit, whether it’s five weeks or five years away.

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