Tax season is here again. It happens every spring and it is typically met with varying degrees of mixed emotions. While paying taxes isn’t optional, we do have choices and actions available to change the outcome on our tax forms each year. This year, in response to the Coronavirus public health emergency, the federal tax filing date has been pushed to July 15th. While this extension may provide some the chance to procrastinate a bit longer, it is also provides a unique opportunity to elevate your understanding of your overall financial health.(more…)
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.
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…)
Integrating financial services into your practice can help broaden and expand your client base and profitability.
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.