Today's Features

Oct. 6: How to Build a Pipeline of New High-Value Clients

With Anthony Glomski and Russ Alan Prince
Live 1-hour webinar
Tuesday, Oct. 6 at 1 pm ET.
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For most accountants, the toughest part of building a highly successful practice is bringing in new business.

But sourcing high-value clients is a cornerstone of only the most accomplished accounting practices.

In this exclusive live 1-hour video workshop, you’ll learn how to:

  1. Identify Promising Referral Sources: Learn how the professionals you select will become your advocates and endorse you exclusively.
  2. Effectively Evaluate Other Professionals: Learn how to evaluate the most promising sources of new referrals.
  3. Build a Pipeline of New High-Value Clients: Clients who are interested in your services – without ever having to make a referral.

Prince and Glomski will explain a proven methodology for producing a steady stream of new high-value accounting clients for your practice — no matter what kind of accounting practice you have.

They will walk you through the process and show you how to build a pipeline of great clients exclusively interested in working with you, above all others.

(Sorry, no CPE for this exclusive 1-hour video workshop)

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$59 General Admission

Only $39 for CPA Trendlines PRO Members with the Members-Only link below (login required):

(Not yet a PRO Member? Click here to go PRO today for instant savings.)


The Essential Process for Building a High-Net-Worth Practice

Businessman working netbook outdoors, wearing sunglassesVital to coping with the COVID-19 crisis.

By Anthony Glomski and Russ Alan Prince
Your $5-Million High-Net-Worth Practice

A lot goes into building a $5 million high-net-worth practice.

MORE: What the Wealthy Need | Setting Financial and Practice Goals During COVID-19 | 4 Components of a High-Net-Worth Practice | Life Insurance as Part of Wealth Management | Mistresses, Mister-esses and Accountants | The Coming Boom in Tax Services for the Super-Rich
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It is a given that you will need wealthy clients. For most accountants, most of these wealthy clients are very likely to be successful business owners. But that is not always the case. You can potentially achieve your financial end goals with wealthy inheritors, for example.


Alexa’s Moving into Your Next Apartment

Another step by Amazon into the service space.

By Rick Richardson

Amazon has become a ubiquitous part of the modern world, but now it may even make its way into rental properties.

MORE TECH THIS WEEK: Global Tokenization Standards in the Works | Three COVID-19 Opportunities for Robots | FBI Warns of Back Doors in Chinese Tax Software | Zoom Will Offer End-to-End Encryption to All Users | castAway Gives Your Smartphone an Extra Screen | An Aging Satellite Returns to Service
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Amazon is unveiling a program to make it easy for landlords to include Amazon and Alexa-powered devices in rental units across the country, including the Echo Dot and other Amazon smart products.

PPP Traps: 1 in 5 Accountants Report Shady Dealings

Fake employees, fake businesses, and lavish spending mar the COVID relief program.

Have you walked away from any PPP engagements?
PPP Practice Management Do’s and Don’ts:
Join the Survey. Get the Results.

By Sandi Leyva

With fast money comes fast fraud, and the arrests and jail terms are only just beginning for individuals who applied for PPP money under false pretenses and have already been caught. You’ve seen the headlines, where people from every walk of life including reality TV stars, rappers, a Wal-Mart manager, and even an NFL player have been arrested on charges of PPP loan fraud.

Bradley Burnett: Bracing for more audits.

Join the Next Webinar: PPP Loan Forgiveness – Choosing the Right Covered Period and Filling Out the Form: Cases, and Examples, with Bradley Burnett. Friday, Oct. 2, 2 pm ET / 11 am PT. 3 hours, 3 CPE.
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PPP fraud has likely already impacted your firm. The extent of the fraud is the real story.

One thing is fairly predictable: “Audits will pick up,” says Bradley Burnett, tax attorney and instructor of the PPP Forgiveness webinars being conducted by Accountant’s Accelerator and CPA Trendlines.

According to respondents of an ongoing survey being conducted by CPA Trendlines and Accountant’s Accelerator, preliminary results show that just over 1 out of every five accounting professionals offering PPP services (22 percent) has had to walk away from at least one PPP engagement.  And one firm has had to walk away from more than five PPP engagements.


Don’t Get Burned by These PPP Pitfalls

Three ways to get it wrong and only have one chance to get it right.

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By Stephen Nelson

Over the last few months, I’ve answered hundreds of questions about PPP loans. And I’ve written a short e-book, “Maximizing PPP Loan Forgiveness” for the accountants who will help small businesses with their forgiveness applications.

Stephen Nelson’s new e-book Maximizing PP Loan Forgiveness is available through CPA Trendlines directly from his website for instant download. |  More from Stephen L. Nelson

Learn more here: New e-Book: ‘Maximizing PPP Loan Forgiveness

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And, here’s an insight from all this frenzied PPP activity: Big surprises await many borrowers.


With 1040 Work Dwindling, Tax Resolution Moves to the Forefront

More money in tax resolution every year.

By Eric Green

The demand for tax resolution has exploded in the last several years, and our current situation is only going to increase that demand.

Join Eric Green for the “Payroll Tax Resolution Workshop,” Oct. 22, 12 Noon ET, 3 hours, 3 CPE, 3 IRS CE. Details here.

There’s never been a better time to get into doing this work, and there is a shortage of CPAs who can do this work really well.

As an introduction, here are six tax resolution services that are money-makers for firms with CPAs and EAs that can deliver results to taxpayers with these problems.


Developing Your Office 365 Deployment Strategy

Don’t treat it as just an extension of your desktop applications. That’s a waste.

By John Higgins
CPA Crossings

Once you have made the decision to commit to deploying Office 365 in your organization, it is important that you develop a deployment strategy. This will determine whether you achieve success or failure.

Join the next webinar: Office 365 – Ready, Set Go! – Developing Your Strategy, 2 hours, 2 CPE

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There are countless examples of organizations that treat Office 365 as simply an extension of the Microsoft Office desktop applications. They simply make Office 365 available to their staff without any advanced planning or training. A sure recipe for disaster.

My goal is to provide you with some insight into how to effectively plan for your Office 365 deployment to maximize the return on your investment and optimize the efficiency in your workflows. READ MORE →

New Job Cuts at CPA Firms and No Recovery in Sight

Payroll remains the hardest-hit sector.

By Beth Bellor

After shedding 77,800 jobs in April, tax and accounting employers have added back 45,300 employees, but the total headcount has dipped again and remains down by 32,300 from the pre-COVID level, according to the latest data reviewed by CPA Trendlines.

MORE ON JOBS: COVID Job Toll: Tax & Accounting Cuts 17,500 Employees | Firms Recall Half of Furloughed Staffers | Covid Kills 67,600 Jobs in Tax and Accounting | Pre-COVID-19, Accounting Profession Hits New Highs | Planning for the Coronavirus Recession
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In this report, CPA Trendlines highlights:

  • Current and long-term hiring trends in each of the bookkeeping, payroll, tax, and CPA segments of the industry (all data seasonally adjusted)
  • Average hourly wages for key segments
  • Typical hours worked per week
  • Trends concerning women in the accounting workforce


Tossing Timesheets Is Just the Start

Pen ready to fill in blank timesheetRECOMMENDED: Two books to read.

By Ed Mendlowitz

QUESTION: I’ve read that many firms are no longer using timesheets. How do you feel about that?

MORE: How’s Your Overhead? | 9 Must-Haves for Firm Growth | Collect More by Clearing Up Billing | Envision Your Future, Then Plan for It | 5 Ways to Build Teamwork
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ANSWER: There is a growing group of firms that no longer use timesheets.