economic trends

Tax and Accounting Industry on Hiring Binge

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Profession adds 1,400 new jobs in latest month.
Next question: Who’s hiring; who’s not. Join the survey; get the answers.

By CPA Trendlines

Jennifer Dizon
Dizon

With practitioners across the country reporting strong demand for new hires, the nation’s tax, accounting and bookkeeping industries added 1,400 new jobs last month, with some sectors marking new highs for 2014 and approaching the pre-crash peak six years ago.

Jennifer Dizon, an audit and advisory partner at Hood & Strong’s San Jose, Calif., office, tells CPA Trendlines her firm is looking to hire.

“We need more staff to service business growth,” says Dizon, who is also the newly elected state chapter president of the National Association of Women Business Owners.

Terri Ryman
Ryman

In Elkhart, Kan., enrolled agent Terri Ryman at Southwest Tax & Accounting says the office is “getting busier.” She “can’t keep up.”

In Northridge, Calif., Gene Wechsler at Wechsler Accountancy reports a similar trend. “The firm continues to grow at the rate of 1 to 2 new clients per week.”

Needs vary though. “We need an additional tax preparer and accountant for small business monthly work,” says one of the owners of a seven-person firm in Prescott, Ariz., which is “currently advertising for an accountant/tax preparer.”

Marc Hutchinson
Hutchinson

In Bellevue, Wash., managing partner Marc Hutchinson at the six-CPA Bashey, Hutchinson, & Walter reports, “We need experienced accountants, and ones that can take over the firm’s clients over the next 10 years.”

In this study, CPA Trendlines reports on:

  • Current hiring trends in each of the bookkeeping, tax, payroll and CPA firm segments of the industry.
  • Average hourly wages for key segments.
  • Typical hours worked per week.
  • And trends concerning women in the accounting workforce.

The CPA Trendlines Careers and Hiring Outlook
Join the survey; get the results.

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NEW DATA: Strong, Steady Hiring at Tax, Accounting Firms

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Tax, accounting and bookkeeping employment, through August 2014
Tax, accounting and bookkeeping employment, through August 2014

The U.S. tax, accounting and bookkeeping industry remains a bright spot in the nation’s economy, according to CPA Trendlines sources.

Here CPA Trendlines reports on:

  • Current hiring trends in each of the bookkeeping, tax, payroll and CPA segments of the industry.
  • Average hourly wages for key segments.
  • Typical hours worked per week.
  • And trends concerning women in the accounting workforce.

Overall, the U.S. economy added 142,000 jobs last month, 47,000 of them in professional and business services. Meanwhile, the unemployment rate was little changed at 6.1 percent.

CPA Trendlines Careers and Hiring Outlook
Job Satisfaction and Retention Benchmarks

Join the survey Get the results button 24pt

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Accounting Sector Tops 5% Annual Growth Rate

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Firms now recovered about 9 in 10 jobs lost in financial collapse.

By CPA Trendlines

The U.S. tax, accounting and bookkeeping industries have recovered nearly 89 percent of the jobs lost in the economic crisis, according to CPA Trendlines sources.

CPA Trendlines Careers and Hiring Outlook

Job Satisfaction and Retention Benchmarks

Join the survey Get the results button 24pt

 

Here CPA Trendlines reports on:

  • Current hiring trends in each of the bookkeeping, tax, payroll and CPA segments of the industry.
  • Average hourly wages for key segments.
  • Typical hours worked per week.
  • And trends concerning women in the accounting workforce.

The U.S. economy as a whole added 209,000 jobs in July. In addition to the growth of 47,000 jobs in professional and business services, increases were seen in the manufacturing, retail trade and construction sectors. The unemployment rate remained stable at 6.2 percent, down from 7.3 percent a year earlier. READ MORE →

New Surge in Wages, Hours, Hiring

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Screen Shot 2014-03-10 at 4.08.47 PM
Tax, accounting and bookkeeping employment, through February 2014

The U.S. tax, accounting and bookkeeping industries are turning out to be one of the brightest spots in the nation’s economy, adding jobs faster than all but a handful of sectors, according to CPA Trendlines sources.

Here CPA Trendlines reports on:

  • Current hiring trends in each of the bookkeeping, tax, payroll and CPA segments of the industry.
  • Average hourly wages for key segments.
  • Typical hours worked per week.
  • And trends concerning women in the accounting workforce. READ MORE →

The Real Election Day Winners? Accountants

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What the election means for busy season:  Join the survey, get the answers.

by Rick Telberg 

The re-election of President Obama may sweep away a few uncertainties in tax and economic policies that have been stymieing business decision-making. But it also sets the stage for a very busy busy-season, complete with last-minute changes in code and forms.

And I’d be surprised if the partisan gridlock in Congress suddenly loosens. READ MORE →

Billing Rates Jump Sharply at CPA Firms

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A sign of a full economic recovery for the profession?

PRO Members: Click for details, charts, analysis

by Rick Telberg
Exclusive to CPA Trendlines

CPA firms are shaking off the effects of years of a fee-cutting death-spiral that halted growth, pinched profits and forced painful staff reductions.

Instead, firms are now pushing through some of the most aggressive price increases in years, led by audit services, followed by tax prep, bookkeeping and compilations. READ MORE →

Why 9% of Firms Flourish Even in Bad Times

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A four-pronged approach to weathering any economic storm.

By Sandi Smith, CPA

According to an article published in Harvard Business Review, three scientists, Ranjay Gulati, Nitin Nohria, and Franz Wohlgezogen, conducted a study to discover the strategies that generated the most – and the least – profits in lean times.

More small-firm success tips at CPA Trendlines:   ‘There Is No Such Thing as a Time Problem’  •  15 Off-the-Hook Ideas for Accountants to Dream Big  •   3 Money Leaks that May Need Plugging in Your Business  •  Seven Tips to Keep the Clients You Have • How to Attract Clients Like a Magnet • Eleven Easy Ways to Deliver More Value to Clients • Five Things Accountants Take for Granted That Costs Them Revenue  • What’s in Your New Client Funnel? • What’s In Your Welcome Kit for New Prospects? • Five Fun and Easy Ways to Wow Your Clients • Six Ways to Give Yourself a Raise • Strategies to Stop Losing Business to Competitors  • Five Tips to Manage Your ‘Overwhelm’ Level • Easy Ideas for a Quick Business Boost • Four New Mega-Trend Marketing Strategies • How to Stop Leaving Money on the Table

First, here’s a list of sure-fire ways to kill your business: READ MORE →