Growing Your CPA Practice

Integrating financial services into your practice can help broaden and expand your client base and profitability.

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The top issues facing the majority of CPA firms today can be broken into three major areas:  finding and keeping good talent, succession planning and pressure to increase revenues and profitability.

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How CPA Firms Can Make Money Unrelated to Their Time

My experience has been that 90% of bottom line profits for CPA firms are earned between January 1 and April 15.  From May to December, they try to keep their best people on the payroll without spending down all of their profits.  To accomplish this, many firms encourage their staff accountants to take vacations, complete their CPE requirements, or take additional courses – all to avoid having to pay for excess capacity.CPAandclient_iStock_000052126712_Large

Wouldn’t it be easier to find new services you could offer–services your clients already need–and begin incorporating them into your practice? (more…)

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