Today's Features

4 Best Things About Being a ‘Dope’ Accountant

Clients are easy to find.

By Andrew Hunzicker
Cannabizcpa.pro

Serving the cannabis niche in today’s world is a once-in-a-lifetime event for an accountant, as this industry as it appears is rapidly moving toward federal legalization. The industry is filled with issues and headaches around banking, software, cash management, risk management, merchant services, compliance, continuous regulatory (state, county, city) changes, and last but not the least: accounting.

MORE: 5 Biggest Mistakes Cannabis CEOS Make | Five Secrets to Launching Your Own Cannabis Accounting Firm | Five Reasons Accountants Should Serve Cannabis Clients | CPA Andrew Hunzicker Creates Course in Cannabis Accounting
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In any industry, accountants and bookkeepers are often given the extra roles around insurance, HR, compliance and anything else the CEO doesn’t enjoy. Because most of mainstream accounting is still waiting for federal legalization, this provides a great opportunity for us who want to enter the fastest growing niche in the U.S., with over 10,000 new companies being launched this year alone. So what is so great about serving this niche?
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Why Voting Isn’t Such a Big Deal

Overhead view of five businesspeople discussing something at a table with an open laptop nearbyWhat about non-equity partners?

By Marc Rosenberg

Voting is a highly overrated privilege of being a partner.

MORE: Why and How New Partners Buy In | Ownership Percentage and Capital Accounts | 5 Key Reasons to Have a Partner Agreement
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When you don’t have a vote, it seems desirous and enviable. It appears to be a very special privilege enjoyed only by the firm’s elite. Having a vote is synonymous with ownership, power and prestige.
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Accountants Can Change the World

Networks of firms will be the future.

By Rob Nixon

I am very excited about the accounting profession. It’s a noble industry that has a general perception of being a bit boring, staid and dull.

MORE ON STRATEGY: Design Your Business Model – It’s Yours! | 9 Steps to Implementing Anything | 5 Steps to Building a High-Performing Team | How to Turn Prospects Into Clients | Get Rid of All Your Rates | Your Clients on Your Terms | Why ‘Steady as She Goes’ Isn’t Enough | The Final Critical Traits: How Do Your Tires Look?
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I disagree. I think if the business is run correctly it can be a fabulous business that provides an awesome lifestyle for everyone in it.
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TRPIF Is One of the Best Kept Secrets in Planning

Businessman talking with older coupleThey're like CRTs, but with more flexibility.

By Randy Fox
Ez Charitable

The best kept secret in planning has only been around since 1969.

Best kept secret? What do you mean?

ALSO: 1031 and Done: What CPAs Need to Know about the New 1031 Changes
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How about a strategy that completely eliminates capital gains tax, provides a gigantic income tax deduction, distributes all its income (maybe for three generations) and is completely legal. And, by the way, if you’re the advisor managing the family’s money, you get to keep doing that.
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Checklists for Tax Resolution Sales

Includes consultation questions.

By Jassen Bowman
Tax Resolution Systems

After marketing, your next most important job is sales. Sales and marketing are intimately connected, because the leads you generate and nurture through marketing become the prospects you sell to in the sales process.

MORE ON TAX RESOLUTION: Quoting Tax Resolution Fees | Basics of Tax Season Work Flow | When to Follow Up on Prospects | Checklists for New Lead Generation |Client Management Checklists for Tax Resolution | How to Handle Client Complaints | Case Study: Building a Tax Resolution Business | Marketing Requires Ruthless Accountability
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Most tax professionals dislike the idea of seeing themselves as salespeople. However, you need to accept the fact that if you can’t close a sale, you’re going to be broke, no regardless of your statewide high score on the CPA exam, regardless of the prestigious law school you went to, regardless of any other certifications you’ve earned. If you don’t sell, you don’t eat.
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The First Thing You Need to Know for Success in the Tax Business

And it's not about how to do taxes.

By Chauncey Hutter Jr.
Real Tax Business Success

Here’s a secret that the vast majority of tax professionals get wrong. (In fact, it's true of most every struggling small business on the block.) Selecting the “right or wrong” target market can be the single most important factor which determines success or failure.

Meet Chauncey Hutter live and in-person at The Real Tax Business Success Summit, Orlando, Fla. June 7-9 (Save $200 as a CPA Trendlines reader)

Marketing means: Market first, message second, and media third, in that order. (And the order is important.) The market is critical. It’s the number one concern. If you don’t get it right, the rest of your promotion won’t matter. (You might as well save your money and go home.)

You see, if you don’t have the right market, but your advertising message is outstanding and the media you choose is the most cost-effective in the world, you’ll still lose money.) If they don’t want what you got, it just doesn’t matter what you tell them, how often you tell them or even how you tell them.

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5 Biggest Mistakes Cannabis CEOS Make

... and how to use them to land a client.

By Andrew Hunzicker
Cannabizcpa.pro

The single biggest mistake cannabis CEOs make is not paying enough attention to compliance.

MORE: Five Secrets to Launching Your Own Cannabis Accounting Firm | Five Reasons Accountants Should Serve Cannabis Clients | CPA Andrew Hunzicker Creates Course in Cannabis Accounting
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That’s not surprising, considering many cannabis companies – especially those that have evolved out of the black market – are going from a completely unregulated black market to one of the most regulated industries in the U.S.
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Make Direct Mail Work for You

Woman reading letter by wall of mailboxesBONUS: Several sample letters.

By Sandi Leyva
The Complete Guide to Marketing for Tax & Accounting Firms

One of the first things a new business owner asks me about is direct mail. I don’t know why so many people go there first, but they do.

MORE SMALL FIRM GROWTH STRATEGIES: How to Use ‘Warmed-Up’ Telemarketing | Content Marketing Types and Tips | Are You Newsworthy? | Why CPAs Need Video | Make Google AdWords Work for You | Make the Most of Trade Shows | Track Your Online Reputation
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Twenty years ago, the response rate for direct mail was pretty good. Out of every 100 pieces you sent, you would get three responses back. It didn’t matter how bad you were at direct mail.
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Why and How New Partners Buy In

Businessman signing document as another looks on7 key provisions.

By Marc Rosenberg

Let’s start with a very basic, standard concept in the business world: A partner is an owner.

MORE: Why and How New Partners Buy In | Ownership Percentage and Capital Accounts | 5 Key Reasons to Have a Partner Agreement
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In any business, not just CPA firms, ownership is not free. Because partners are owners, they have to purchase a part of a company, for money, to acquire an ownership share.
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CSH’s Brad Self on Revolutionizing HR

Portrait of Brad Self
Self

"We need to make sure we're engaging our employees."

By Kayleigh Padar

Brad Self, CPM, Ed.E, MAS is the chief talent officer at the accounting firm Clark Schaefer Hackett. CSH has worked extensively on revolutionizing processes in the HR space.

MORE ON RADICALISM: 3 Challenges in Shifting to Product Management | Product Management Meets Strategy | Transitioning to Radical: How Carl Famiglietti Did It | How to Develop Productized Services | Firm Product Management Is the Way to the Future | 10 Steps to Start Innovating | The Value of New Ideas
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“We wanted to be a firm where people feel like they can come and they are,” said Self. “They can thrive, they can grow. Our growth model was always, in past years, clients first, but the relationship with our people in the offices always was subpar. For many different reasons. And the focus was never on our own people, but always on the clients.”
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