quote:
Intuit has been going HARD after small firm 1040 guys with the lure of basically just doing tax prep and not having to worry about getting clients.

at 25-40 an hour or so. Woof.

quote:
Every decent size firm I know has been either jacking up min price or straight up disengaging their smaller 1040 clients.

Yep our minimum has doubled since last season. We’re very upfront about it now on our onboarding materials so there’s no confusion later on. They’re still coming.

Same story, either my old CPA retired or coming from TurboTax because it got too complained. Demand is incredible right now.

quote:
Tax planning. The future will be two fold. Mass market tax prep for most Americans, and high market CPAs with shrinking client lists but more time and revenue per client, with most of that coming from planning… and as alternative practice structures grow… more of that will be affiliated with private investment money.

This this and this. We’ve already transitioned a good chunk of focus and resources on this. Over the past year I’ve sold a lot of ‘outsourced CFO’ monthly arrangements. Full access to me, planning, bookkeeping, payroll, office visits, returns, 1099s. Demand for that is insane.

1 ...

Report Post

Posted by LSUFanHouston

NOLA

Member since Jul 2009

37153 posts

Posted on 1/24/23 at 11:16 am to macatak911

quote:
at 25-40 an hour or so. Woof.

I didn't say I was doing that

But I can't tell you how many times I've seen returns prepared by sole prop CPAs / EAs that are probably 2 hour returns and they are charging $150. Less than the Blockheads charge. It's insane. I guess if you are charging $75 an hour and have to pay overhead and software and downtime out of that, maybe $25-$40 an hour with no overhead and a constant stream of work sounds good.

quote:
Over the past year I’ve sold a lot of ‘outsourced CFO’ monthly arrangements. Full access to me, planning, bookkeeping, payroll, office visits, returns, 1099s. Demand for that is insane.

I was just starting out when QB started becoming mainstream. The firm I was at, lost 80% of their bookkeeping work in two years. Everyone thought they could do it themselves. But QB is a garbage in, garbage out program, and when it's the receptionist or the wife of the owner who is doing the "books", the quality showed, and some companies started looking for bookkeepers again.

Every year, there seems to be more and more small businesses who want that outsourced CFO stuff, because they can get access to someone who can do a lot of that work but also offer advice, and they don't have to bring that person on board full time.

1 ...

Report Post

Money Talk - Replies to Post

Return To Board

Page 1

Return To Board