There’s a romance associated with startups. There is a person with the big idea. They get started in their garage. Venture capitalists buy into their idea. The business takes off. It goes public. Everyone gets rich. Now comes reality. Many startups fail. Accountants can help shift the odds in favor
CPAs have to handle pressures from a variety of sources, those that come from banks and other lenders wanting reasonable assurance of a client’s financial strength are unfortunately quite common. As tempting as it may be to comply with such requests, CPAs who provide the requested assurances could actually put
Botkeeper, a machine learning-powered bookkeeping business solution for accounting firms, has a new pricing model intended to break down cost barriers, increase scale and provide greater access for firms of all sizes. Botkeeper’s packaging has been reworked into a scaling model that provides a more consumable approach to the Botkeeper
After the tax season we’ve all endured, as tax professionals you can take a few critical steps to ensure you and your firm are set up to thrive this year, and beyond. Here are three critical measures that you can take and even expand on post-busy season. 1. Stay in
Accountants and tax pros simply can’t help tackle sales tax compliance without first understanding nexus — a company’s economic “connection” to a state based on qualifying sales activities. Businesses in just about every industry must deal with sales tax in some way, but high-growth companies often struggle the most, and for
For those of you who’re just joining in, part one explained Form 1040’s Schedule A allows itemizers to deduct state and local income taxes or state and local general sales taxes. They can’t write off both in the same year (line 5a of 2020’s Schedule A for itemized deductions). Part
As another tax filing deadline looms, CPAs across the country are going to deal with one of the harder parts of the business: retaining clients. As the usual loss of clients occurs, many firm owners begin to ask, “What can we do to keep our clients?” Rather, the question you should be asking is: “How can we
There is a general perception across corporate America that middle managers have a tough job. In their article “Why Being a Middle Manager Is So Exhausting,” I think Eric M. Anicich and Jacob B. Hirsh describe it best: By virtue of their structural positions, [managers] are simultaneously the ‘victims and
If you aspire to be an influential strategic business advisor to your clients, you must learn how to ask the questions that help you drill down into how they’re really doing so that you can help them navigate that reality. The first step to asking the right questions is approaching
Some sales are easier than others. Take selling a car, for instance: The dealer quotes a price, you negotiate a bit, and then you walk away after making a payment and receiving the vehicle. Your responsibilities are over. Selling a business isn’t as simple, however. You may have clients considering