Funny how 6 months after this NPR interview with me and several other accountants we are still requesting clarification from the IRS on the business provisions included in the Tax Cuts & Jobs Act. So much for tax simplification… Read more
“It’s summertime and the livin is easy”, but business is not always so. Even though your business may be doing well, now is a good time to evaluate your business processes and reflect on your recent business challenges. In our office we view challenges as opportunities, we evaluate the “pain points” to create a more successful business model. In this video, I compare my garden to a business and the… Read more
Save money by hiring an expert, know when to ask for help Imagine this … A group of friends were invited to dinner hosted by a famous chef. In greeting one of the guests, a well-known photographer, the chef commented: “I love your photos. You must have a very expensive camera.” The photographer smiled to herself and walked into the dining room. After dinner, the photographer approached the chef and… Read more
Top Issues Related to Tax Year 2018 Extensions. Although my staff and I worked hard to learn the new law and to inform our clients of the changes, we still had many returns either filed at the last minute or placed on extension. Our software providers worked hard to incorporate the tax law changes and revenue rulings but were challenged by release dates so late in the filing season. Here… Read more
What motivates you, your clients, your staff? The answer may surprise you ….. Allow your clients or customers to help your define the value of your business services and build this into your business process. Again I invite you to watch my 4th in the Intuit video series and then click on this link to access 7 Steps to an Effective Business Plan a free resource on our website; need help… Read more
I believe that the workflow efficiencies gained by standardizing processes within your company can enhance profitability. Intuit video #3 is the story about how workflow efficiencies were achieved in A Parness Company CPA after we performed a “health check” on the practice and implemented better processes as consistent with our business plan. Please feel free to sign on to our 7 Steps to an Effective Business Plan or contact us for… Read more
When creating the firm or business that you want rather than the one that you have, best practices endorse starting with a business plan. Intuit Video #2, I hope my story inspires you to step back & take a good hard look at your business, roll up your sleeves and get to work…. Are your ready to make a change in your business? Sign up for our online 7… Read more
“I’m Andrea Parness, I’m a CPA, I’m the owner of my firm. I work along with five of my staff members, A. Parness Company. We’re located in Queens, New York City and I was a traditional firm up until that point.” Learn from Andrea Parness, CPA, CTC, on what are bundled services, and why should you consider implementing them in your tax and accounting firm? Read more
Firm owners could benefit from taking the time to evaluate their firm as a business. As the owner of my firm, I did just that and realized some changes needed to be made, starting with bundling our services. Many firms follow the traditional model of accepting clients in various industries through recommendations. Others provide clients with valuable services along with business-related compliance services, but don’t highlight those. Read the full… Read more
In our office, we say, “It’s not a problem; it’s an opportunity.” When issues arise, we take the time to evaluate the situation to determine the cause. Did we break an office rule, step around a procedure or was it a case of not being careful? At times, solving our clients’ problems definitely requires a creative approach, but the real creativity lies in truly listening to their needs and understanding… Read more
The IRS has released its final rules on a key tax break for businesses — the so-called “pass-through deduction.” The background: The new tax law cut taxes for corporations from 35 percent to 21 percent. But that didn’t apply to certain kinds of businesses, like LLCs and S corporations. They’re called pass-throughs, and they pay taxes based on their owner’s personal income, not the corporate tax rate. So Congress came… Read more
These days, accountants and tax preparers use software to prepare and file your taxes. It allows them to do the calculations faster and to file online with the IRS. But it’s not always like that. In the Market Place article, Marielle Segarra interviews our director Andrea Parness about double-checking the software and how accountants have to remember the software is just a tool, and they can’t let it do all… Read more
Read about our director Andrea Parness in the new Intuit ProConnect article. Andrea explains why it is important being a member of Tax Customer Council and how can tax professionals keep up with all the changes in tax laws and regulations. Andrea Parness, CPA, CTC, is owner of A Parness Company CPA, a niche CPA firm in Belle Harbor, Queens, N.Y. She has written several articles as well a white… Read more
Too much stress can be a true detriment to your tax practice, especially during busy season. According to the American Institute of Stress, 80 percent of workers feel stress on the job, while nearly half say they need help learning how to manage stress. Read more on Intuit ProConnect website Read more
The new year brings with it new challenges and opportunities, especially considering the impact the Tax Cuts and Jobs Act has on tax year 2018. Read more about what our owner, Andrea Parness CPA and other Intuit® ProConnect™ Tax Pro Center authors advise to clients in 2019. Read full article Read more
We believe that your CPA firm, those professionals who review your accounting data and evaluate your processes should be tapped as your business coaching and strategic planning partners. When we work with our clients, our goal is to help create a plan that will achieve those goals while utilizing their existing staff. We start our journey with the intent of creating a business road map and write across our whiteboard:… Read more
I took a road trip with my daughter last month. Over the course of four days, we flew from our home in New York City to Detroit, Michigan and then drove to Norman, Oklahoma. In between snapping photos and sampling burgers along the way, I was able to review my office files, participate in a virtual business conference, and view logo proposals. If I had taken this trip even 10… Read more
Like many of you in the accounting profession, I attend several accounting and technology conferences each year to listen to industry leaders and network with my peers. I read countless articles and survey result reports about the future of accounting and business and pick the brains of the accounting conference sponsors. It was the last week of April 2015. I was a participant in a special mini marketing/business growth program.… Read more