Ed Mendlowitz

I’ve spoken to many owners of, and partners in, small firms and see an optimistic future.

Keeping in touch with clients is very important, especially during this period of isolation. Here is a way to provide updates to clients regarding their tax returns and to keep in touch generally.

We are on new ground with the coronavirus pandemic, and we need to adapt as much and as quickly as possible.

What we did yesterday is no longer relevant during the coronavirus pandemic, and we need to adapt and quickly. Here are some issues to consider.

When a client has a problem or wants something from you, he or she needs your attention. Are you as responsive as you need to be?

Tax season can be one of your best opportunities or a miserable war.

Many firms think they have the 'finding the errors' situation worked out, when in reality they should be concentrating on error reduction or elimination.

The first black CPA and the first woman CPA made history in the profession.

The AICPA president and CEO gave his annual update at the Accountants Club of America at a sold-out breakfast.

I recommend eliminating the tick and tie review in favor of an issue review.

Teach preparers how to prepare error-free returns that will elevate their overall quality and that of the entire practice.

My tax season checklists have been updated and are ready for you in a Word file so you can use them as you want.

Withum’s annual State of the Firm (SOTF) event, attended by over 1,000 Withum team members, was held at the New Jersey Performing Arts Center last Monday.

I always prepare for client meetings. Sometimes I overprepare because I don’t want to be unprepared and also because I want to control the pace, direction and timing of the meeting.

Start 2020 by firing yourself as the boss, CEO or managing partner. Then rehire yourself. As the new, CEO what would you do to justify the confidence you had in you?

How about a “Christmas” letter about your practice, describing how you did professionally, what you wish you had done and what you now resolve to do next year?

Accountants spend a lot of time learning their craft and keeping current. What many do not do as well is keep up with practice management. An easy way is to read some of the many books on that topic.

Mergers take numerous forms.

Frequently we are asked to prepare a formal proposal. This is usually done when the client or prospect is considering multiple firms and the decision will either be made by a board of directors or when the person making the decision feels the need to tangibly back up their decision.

Withum’s managing partner and CEO sends a weekly Monday morning email and at least one new client email a week to everyone in our firm.