June 2020 - CPA Practice Advisor

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In this issue

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Benefits

Covid-Normal: Worker Stress, Work/Life Balance and Productivity Start to Stabilize

For workers currently employed, this new “normal” has many working remotely, forced to adjust to how they get work done. Those required to work remotely responded that the ability to complete tasks and connect with others was severely impacted due to technology issues, lack of necessary equipment to work effectively, and distractions.

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Firm Management

Practice Management in a Future-Ready CPA Firm

Has your firm committed to aligning people, processes and technology? Are you positioned to meet the leadership challenges of the future? If so, congratulations! If not, it’s time to get started!

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Advisory

Estate Planning in an Abnormal Time

While no one can predict how long the current environment will last, practitioners are in a unique situation to advise their clients on how they might take advantage of current gift and estate planning opportunities.

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Firm Management

Summer Challenge – A Video Marketing Campaign

Reflect for a moment on how much video content you consume in a week. Is it none, only a few minutes, or possibly hours? According to Marketing Charts, by the end of 2020, nearly 100 minutes per day of video will be consumed in the U.S.

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Benefits

How to Modernize Your Accounting Firm – Part I: Reshaping Client Relationships

Traditionally demanding tasks such as gathering client information or payment, have now become simple and streamlined. You may have to adopt new technologies, but the result is an improvement in client relationships and time savings for your firm.

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Accounting

AICPA News: June 2020

AICPA News is a roundup of recent announcements and events from the American Institute of CPAs.

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Benefits

QuickBooks ProAdvisor Program Adds New Resources, Features, and Training Courses

Here are several new resources, features, and trainings (all accessible via the ProAdvisor tab in QuickBooks Online Accountant) that increase your knowledge while helping you better advise your clients and scale your impact.

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Firm Management

3 Quick Tips to Make WFH Successful

Over the 20+ years I’ve worked from home, I have collected many techniques that might help you make it through this unusual time and even position you for a future of full time or at least part time working from home.

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Firm Management

One Certainty in an Age of None: He Who Hesitates is Irrelevant

Instead of getting consumed with everything you don’t know, focus on the known variables. Going back to the example of the payroll protection program, recommend a course of action based on what you know today.

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Firm Management

How to Be Ready for the Next Crisis

The immediate need to support remote work has brought with it an increasingly complex and risky landscape in ensuring your firm’s data is safe. Thinking proactively about business continuity and disaster recovery now will ensure your firms data is ...

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Accounting

Career Advice for Recent Accounting Grads: Job Hunting and the Pandemic

Graduating during this time will add its own challenges on top of the usual angst that comes along with finding, interviewing for and landing your dream accounting job. In fact, 75 percent of students with jobs have already seen them canceled, delayed or shifted to remote work. That’s especially tough considering many students rely on summer jobs, internships and entry-level positions to gain experience to strengthen their portfolios.

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Advisory

Apps We Love June 2020: Apps for the New Normal

What can we expect post-pandemic? Are there apps you have discovered that are helping to define the New Normal? Are there apps that need to be created to help us continue to exist, socialize, get back to work?

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Accounting

Do You Have a Clear Tax Vision?

What do you think happens to your firm when you feed it the right tools and training? What is your future vision of your tax practice? Do you want to be fit and competitive, or do you prefer the alternatives?

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Accounting

Preparing for the Post-Pandemic Workplace

An employer’s best course of action to protect employees and customers, and minimize the potential for legal actions is to continue to do what most have already done – follow to the fullest extent possible all CDC, OSHA, and state and local health ...

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Firm Management

8 Tips for Boosting Morale in Remote Teams

In this new reality, managers need to be mindful of issues particular to remote work that might impact morale, be it a communication breakdown or employees feeling disconnected and isolated. Here are 8 tips for boosting team morale from a distance.

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Benefits

What’s the Best Entity Type for a Family Business?

Most of your clients probably started their family business solo and with little thought to what happens to the business when the owner gets married and has a family. Smaller owner-operator businesses are usually structured as sole proprietorships with...

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Tax Pros Can Help Taxpayers Struggling with Federal Tax Debt

Tax practitioners have an unprecedented opportunity to help delinquent taxpayers obtain resolution and reclaim a sense of peace. Now is the time for tax practitioners to guide taxpayers in the documentation they need to provide the IRS to resolve ...

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Accounting

Change Management: What the Coronavirus Crisis Revealed

Effective change management can help organizations pivot quickly, decisively, and effectively, even when—perhaps especially when—unforeseen circumstances strike. And while each business is unique, there’s no need to reinvent the wheel.