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Inside Views

  • Connecting to the Next Generation of Clients

    November 14, 2014

    Accounting and financial services firms take pride in winning new clients through referrals and word-of-mouth. In a profession that demands a high level of trust, positive client relationships are essential to building a strong base of repeat business.

  • How to Hire Seasonals for Tax Prep

    November 13, 2014

    For the tax preparation office that relies on seasonal hires, this is the make or break time of year.

  • Accountants Win More Clients Doing These 3 Things

    November 12, 2014

    Have you ever wondered why your accounting firm lost out on a recent engagement? Do you get frustrated when clients show little interest in utilizing the firm’s additional services that are offered?

  • Don't Believe Everything a CPA Says

    November 11, 2014

    These five quotes were pulled directly from a random selection of CPA firm websites (if you go to your website, I bet something like this is on there too):

  • Art of Accounting: I Always Want to be "the Other Guy's Accountant"

    November 10, 2014

    I once worked for someone who told me he lost clients that went into a partnership with the partner’s accountant. He said he then started working hard to be “the other guy’s accountant!” Me too!

  • Does Your Firm Shun Marketing?

    November 7, 2014

    It all began during a recent strategic planning assignment with a small business in Illinois when I asked the executives this question: “I see your sales units on the chart, but who is accountable for marketing?”

  • Top Mistakes Accountants are Making with Existing Clients

    November 6, 2014

    Singer-songwriter Joni Mitchell was referring to environmental impacts when she sang, “Don’t it always seem to go/That you don’t know what you’ve got/Till it’s gone” in Big Yellow Taxi. But chances are, many accountants have the same thought after a client leaves the practice—especially someone who was with the firm for several years.

  • Top 4 Considerations When Evaluating Payroll’s Role in Your Firm

    November 5, 2014

    Is there anything people take more seriously than getting paid accurately and on time? Probably not. That’s why your firm’s approach to payroll is of such great importance.

  • Offshore Voluntary Disclosures: To Certify or Not to Certify

    November 4, 2014

    Taxpayers with undisclosed foreign assets face an even greater risk of detection than ever before.

  • Art of Accounting: Some Mistakes I Made

    November 3, 2014

    I’ve been around a long time and did some really great things. I’ve also made some mistakes. The mistakes linger on my mind more than many of the great things, and I am sharing some of the mistakes here.

  • Humpty Dumpty Made a Great Call

    November 1, 2014

    The shift from CPA to financial advisor requires a shift in mindset.

  • IRS Offshore Voluntary Disclosure Program Offers Stark Choices for Taxpayers

    October 30, 2014

    New choices between a new streamlined version of the OVDP and the regular program will require careful consideration and advice from practitioners.

  • What Accountants Need to Know about Trust Compliance Issues

    October 29, 2014

    CPAs who are involved in trust issues must become aware of the fiduciary trust accounting rules that apply to a given trust.

  • Are You the Smartest Person in the Room?

    October 28, 2014

    An astute observer of human nature once stated, “People don’t care how much you know until they know how much you care.”

  • Art of Accounting: Why We 'Kill' to Get Partnership Returns out Quickly

    October 27, 2014

    Many real estate and venture capital partnerships and LLCs have investors that need their K-1 tax statements to file their individual returns. Depending upon the way they are managed, some never have their books up to date and ready for tax filing until late in the summer, while others are maintained monthly and are closed and ready for tax preparation the end of January or beginning of February.

  • Running the Waterfall Calculation

    October 24, 2014

    How can fund administrators efficiently walk general partner CFOs through the waterfall calculation?

  • Careful Handling of Capital Gains and Losses Can Save Taxes

    October 23, 2014

    Individuals who lost money in the stock market in 2014 may have other investment assets that have appreciated in value. These taxpayers should consider the extent to which they should sell appreciated assets before year end (if their value has peaked) and thereby offset gains with pre-existing losses.

  • Why Your Firm’s Change Initiatives Fail

    October 22, 2014

    Here’s a scenario that occurs in too many firms. Does it sound familiar to you?

  • Auditors Face a Crisis of Relevance in the Capital Markets

    October 21, 2014

    Let’s not kid ourselves. Financial statement auditing as we know it is facing a crisis of relevance in today’s capital markets.

  • Art of Accounting: Growing with a Client

    October 20, 2014

    Last week I told the story of how we were hired to prepare corporate tax returns at a much higher fee than the client said they wanted to pay. This client grew to become our largest client. Here is how it happened.


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