April 2022 - CPA Practice Advisor

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In this issue

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Firm Management

The Future of Virtual Meetings

Whether you are a fan of video conferencing, look forward to returning to in-office meetings, or stand somewhere in between, you can be sure the process is here to stay. And thanks to the speed at which modern technology moves, I believe it’s safe to ...

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Advisory

Your Firm and Your Staffing

Having a somewhat "normal" tax season behind us certainly feels good. While it would be nice to have COVID behind us and the IRS caught up, these issues may be part of our "new normal." Unfortunately, staffing issues also seem to be part of the new ...

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Small Business

New QuickBooks Business Network Automates and Streamlines Collaboration for QuickBooks Online Customers

The network and its features are currently rolling out in phases to accountants and their small business clients. It is expected that all U.S. accountants will have access in summer 2022, making the network one of the largest communities of ...

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Advisory

How Firms Can Retain Top Talent During the Labor Crunch

Today’s accounting world faces an unprecedented challenge: How can firms scout and retain top talent from a perpetually shrinking pool of accounting professionals while avoiding undue burdens brought by inflation?

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Accounting

The Votes Are In: 2022 Readers’ Choice Awards

Now in their 18th year, the CPA Practice Advisor Readers' Choice Awards give our readers the chance to spotlight the technologies they most respect and trust to provide client services, to manage their firms, and to help their clients run ...

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Artificial Intelligence

The State of AI in Professional Firms

Because AI can be a useful solution for accounting firms struggling with increasing amounts of data, using AI can significantly reduce the amount of time spent on tedious tasks, allowing staff to focus on areas that require their expertise, such as ...

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Firm Management

How Featured Snippets Can Get You On Page 1 of Search

If you’ve been using search engine optimization (SEO) to land on page one of Google, you know it takes time…a long time. I often tell clients it’s a marathon, not a sprint. If you want quick results, buy ads.

Practice management

Firm Management

4 Practice Management Tips for 2022

A mainstay in larger firms, there’s plenty of reasons to use a practice management system in smaller firms as well. Designed to streamline workflow, practice management systems can also help you better serve your clients, including making it easier ...

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Accounting

6 Business Payment Trends in 2022

The new imperatives of work from home drove more change in the long overlooked area of B2B payments than we’ve seen in decades. But there’s more room for improvement. This is a huge market --$22 trillion domestically-- where ...

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Accounting

ERPs, Invoice Automation Providers Embrace Digitization and Automation for AP Payments

Technology adoption in B2B payments has reached a new level. COVID and work from home sped up the pace of change, and over the last two years, we’ve seen a dramatic shift toward electronic payments and payment automation.

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Why Security Measures Are Critical for Tax Pros

Every firm is different when it comes to how they acquire, access, store or share data. Given the importance of security of your client’s and your firm’s data, it is important for you to deeply understand the procedures and practices that are in place...

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Firm Management

Will the ‘Great Resignation’ Become the Great Shakeout?

Should we be concerned about the rising number of accountants leaving the profession? If one is paying attention, the alarm bells are sounding across the board, and it really hits home if you’ve had a personal experience being short-staffed.

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Accounting

Why You Need a Clear Client Communication Policy

Having a clear client communication policy is often forgotten as a part of the engagement. Everyone needs to understand the client’s part, the firm’s part, and the collaborative part. Communication policies help your firm achieve this goal. If your firm h

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Benefits

How to Nurture Clients Through a Technology Change

Many firms have an aversion to change because clients are creatures of habit. Even if new technology can streamline operations and make it easier for clients to work with your firm,, there’s often hesitation before adoption.

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Advisory

Advisory Services Continue to Grow in Accounting Firms

Globally, more firms are have created or are interested in creating a more diversified selection of services, looking beyond the tax season to offering a variety of advisor services such as forecasting, budgeting, and strategy for their clients.

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Payroll

S Corp Salary Guidelines – What is Reasonable Compensation?

Although the definition of what constitutes a “reasonable” wage may seem subjective, the IRS scrutinizes the S Corp’s source of income—its gross receipts—and then determines if (and what tasks) the owner/shareholder performed for the S Corp to assist ...

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Advisory

4 Growth Strategies that Support Your Team

When you’re worried about holding on to your talent, creating new business opportunities might not be top of mind. But I feel strongly that if you focus on these four things, you can positively impact your people while setting the firm up for growth.

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Accounting

AICPA News – April 2022

AICPA News is a round-up of recent announcements from the Association.