Thank goodness, you made it through the tax season home stretch! A vacation is well deserved! But will it improve your practice? Do you know what other firms are doing to keep ahead, and growing their business? Here are six things that “progressive-aggressive” accounting and bookkeeping firms will do. And no, these may not be…
DetailsItem 5: Brace for new work. You may need to start asking your clients about Bitcoin. New IRS guidance treats Bitcoins and other crypto-currencies not as money, but as property, for tax purposes and applies immediately to all returns. See the full text of Notice 2014-21 (PDF). Among other things, IRS advised that: As an…
DetailsMy wife and I recently dined at a restaurant at Bangkok, Thailand. It is one of those restaurants where you place order for the ingredients – like fresh vegetables, uncooked meat and seafood, eggs, tofu and what not – all uncooked. On your table is an electric appliance – with a wide pan pot. Once…
DetailsIf you are one of those who run from one task to another, checking emails every now and then, trying to keep things organized all the time, making calls that don’t achieve much, checking work by yourself to make sure there are no mistakes and so on; if you are the one who is super-busy…
DetailsHow to reduce your stress during tax season? You know that tax season is all about multi-tasking, to-dolists, workflow, stress, stretch and of course, earning. As a tax professional, your brain (and body) is really taxed during the tax season. As a service provider to the accounting and tax profession, I engage with several accountants…
DetailsIt’s time to start to start thinking about the tax and accounting ramifications of digital, virtual currencies. Bitcoin is virtual currency much in the news these days. It’s peer-to-peer so there’s no central bank or government. But, because it necessarily represents income or asset, it needs to be accounted for and hence will have tax…
DetailsIn a research study, research subjects read the words “coffee” and “perfume” and the part of their brains devoted to the sense of smell lit up. A new study suggests that reading doesn’t just make a fleeting impression. It may make long-term changes to the brain.As a tax preparer, what can you actually do based…
DetailsWhat if someone offers you free money, say $50? Will you take it immediately? In his bestselling book “Predictably Irrational”, celebrity Author Dan Ariely informs about an astonishing finding about “The Cycle of Distrust“. Several students set up a booth on the street giving away “Free Money.” Not vouchers for money, not rebates, but actual…
DetailsAnd Five New Age Technology Solutions to Help You Boost Earnings Busy = broke! I heard this at a recent seminar by a leading business expert. It sent me on a deeper exploration. My company provides services to Accounting, Bookkeeping and Tax Professionals. And so many of them tell me they are very busy but feel…
DetailsHere are some startling but recent research report backed headlines on CPATrendlines:Staff Turnover Escalates into Epidemic at CPA Firms: Professional staff turnover has jumped by as much as 50% in one year, averaging now almost 18%. These results were across all firm size ranges.Accounting Firms Launch New War for Talent: Firms are hiring, and many…
DetailsDo you feel your social media efforts are NOT really profiting you the way you expected?Ask the question “What is the one most important thing in the Internet world?” and the most common answer you will get is “relevancy.”Let’s take the example of what you are doing right now. You are on the CPA Trendlines…
Details
