Practice Management news February 2014

Practice Management

Wristbands Get Indiana CPA Firm Moving at Tax Time

On any normal day Katie Bailey, audit manager at CPA firm Dauby O'Connor & Zaleski, LLC (DOZ) in Carmel, Indiana, would definitely consider herself an active person. But during tax season, Bailey, who like most CPAs logs 12- to 13-hour days from January to April, it’s no longer a matter of how much she moves in a given day, but if she moves—at all. Now, that's changing.
Practice

Seven Tips for Helping to Ensure Reliable Hiring Results

For a employee selection process to be effective, it must consistently identify the candidates with the skills and attributes that are critical for the job at issue. Asking the right questions in a job interview can go a long way in achieving this goal.
Practice

Don't Forget to Hit the Pause Button This Busy Season

We're still uncool at our house. We have three remotes to control our TV, BlueRay, sound system, Apple TV, etc. Our son comes to visit and asks why we don't get one of the new-type remotes where you can do it all from one or why don't we use our iPad or iPhone.
Practice

It’s Not Too Late to Make Tax Season Less Taxing

Busy season has begun, but most CPAs likely have not reached that stage of eighty-hour workweeks and gallons of coffee. It’s still early enough to make a few adjustments to your processes and client management strategies to avoid excess stress.
Practice

PwC Survey: No Let Up In Fraud at US Companies

Forty-five percent of organizations in the United States experienced some type of fraud in the past two years, more than the global average of 37 percent, according to a recent global survey from Big Four firm PwC. In addition, two types of economic crimes are particularly on the rise: accounting fraud and bribery and corruption.
Practice

Three Problems Caused by Employee Turnover and Implications of an Inefficient Hiring Process

Employee turnover, in industries like accounting, has always been a problem. Too often, revolving workforces lead to increased training costs, inconsistent production, poor morale, and, consequently, reduced or limited profits.
Practice

Unresolved Client Issues Take Money Out of Your Pocket

In my February 18 webinar on "Understanding the Client Experience," a participant asked what can be done about negative customer comments on the web, that "may or may not be true."
Practice

Here Are Some Risks to Consider Before Using Social Media for Your Business

The noise about using social media as a means to grow your business has become so constant it almost blends into the background at this point. With Facebook, Twitter, and LinkedIn pushing their advertising platforms and Google+ touting better search optimization, it’s inescapable.
Practice

Use a Validated Hiring Process to Help Reduce Employee Turnover

It may seem counterintuitive, but it is during the worst economic times that finding and retaining quality employees is the hardest. There are several reasons for this, but the most candid is simply that good employees aren’t laid off first. In addition, most people are less likely to take a risk and seek a new job when the economy is struggling.
Practice

HARO: Easy-to-Use, Low-Hanging PR Fruit

Scott Cytron has a public relations tip for you that has brought success to one of his clients no less than three times in the last month. It’s HARO (Help a Reporter Out), a database that enables you to respond to reporter queries that you normally would never know about, all for free and with a very minimal time commitment.
Practice

ParenteBeard Adds 26 Employees in Recent Acquisition of Invotex

Philadelphia-based CPA and business consulting firm ParenteBeard LLC will open a new office in Baltimore after acquiring specialized consulting business Invotex. As part of the deal, twenty-six Invotex employees, including four partners, will join ParenteBeard, which now has nineteen offices in the United States.
Practice Management

Tax Professionals: How Do You Respond When Someone Asks About Your Fee?

There’s a discussion going on in the Tax Business Owners of America LinkedIn forum about fees. It’s quite lively and has a lot of voices joining in.
Practice

Small Business Is Halfway to Hiring

When you talk to your small business clients, are about half of them hiring? The other half aren’t?
Practice

Obamacare Shocker: Mandate Delayed Again for Some Employers

On February 10, the US Treasury Department issued new final regulations pertaining to the employer mandate under the Patient Protection and Affordable Care Act of 2010. But the government dropped a bombshell in the new regulations: It postponed the start date of the employer mandate for certain employers to 2016 – the second extension approved in less than a year.
Practice

How Is Your Accounting Firm Protecting Its Intellectual Property?

Have you ever stopped to think that you have valuable property right on your hard drive?
Practice

We Need More Super CPAs Like Greg Padgett

Ours is an unusual business, in that very few CPAs are actively involved in their communities and giving back compared to other professions. Many of my nonprofit clients over the years would ask, “Where are the CPAs?” I have a pat answer; they are “busy.”
Education & Careers

NJSCPA Unveils New Compensation Study

The New Jersey Society of CPAs (NJSCPA) just released its "2013/14 NJSCPA Compensation & Benefits Study of Public Accounting Firms in New Jersey." Not limited to just salary, the report also covers such topics as incentive plans, health insurance, and training/development.
Practice

Nominate Your Accounting Firm for Awards to Earn the Recognition You Deserve

In today’s competitive climate, one way for you to distinguish your firm is for you to be honored or recognized in the community.
Practice

21 Work-life Balance Reminders for Tax Season

Tax season is upon us and the challenges of maintaining work-life balance become acute. With that in mind, here are twenty-one ways that professionals with work-life balance are different from others.
Education & Careers

Can the Philanthropic Ambitions of Baby Boomers Meet Those of Gen X and Y?

As professionals and executives become more senior, there’s often a desire or expectation that they will want to devote themselves to "good works" as a legacy.