Most owners and partners of Accounting firms are ‘career’ accountants and by ‘default’ business owners. The most common plan for everyone entering into the profession is to be a good Accountant, serve the clients well, earn enough money and then maybe some 40 years later sell the ‘practice’ and retire. Deep down probably you too thought the same in the beginning.
The key for you to achieve better lies in a beautiful 3 letter word called MRR - Monthly Recurring Revenue i.e. moving your clients to a ‘monthly fixed fee’ that keeps coming in every month, regardless of how busy you are or what season it is.
Financial Intimacy is where you know financial matters about your clients that no one else does. It’s not just secret tax planning ideas, it’s more about business goals, family goals, client growth ideas/approach, family situation etc.
This article shows the summary of key business and personal income tax amendments proposed in the provincial and territorial budgets released for the 2020-2021 fiscal year. This data combines the pre-pandemic budget measures with the supplemental measures, revisions and delays that provincial governments introduced as a result of COVID-19 in their respective economic recovery plans or fiscal updates. We have detailed specific tax measures Canada has taken in response to COVID-19.
Like all CPA firms would do, this firm too started their journey with offshore staffing with a lot of caution. They were skeptical about it. But now, three years later they have their feedback to share in the community.
As a partner/owner of an Accounting firm you are always looking to make more while working less. None of this means increase your price, control your expenses etc. Experts have identified following 7 Characteristics of Happy & Performing Accounting Firms
Candian CPA Adam is a partner at Briggs and Associates chartered professional accountants based in Newfoundland and Labrador, Canada. Initially, he was against the offshore staffing, but after attending the CPD webinar his perception towards offshore staffing changed. They started 2 years back with entigrity and now they feel fully secure and are satisfied with offshore staffing.
Being a virtual CFO Firm, Summit CPA provides Virtual CFO Services, including cash flow management, business tax planning and financial forecasting. They also perform 401(k) Audits and recently launched a CPA Firm Augmentation program, providing other CPA Firms with accounting outsourcing services and Virtual CFO Consulting from their experienced staff.