🏢📈The accounting industry keeps changing, which keeps its many challenges in focus for firms of all sizes. From navigating staffing limitations to updating billing approaches, a wide array of firm needs are being addressed at the same time. 🗒️The 2024 State of Tax Professionals Report reveals the top 13 challenges firms are facing. From Thomson Reuters: “According to Thomson Reuters research, the billing model gaining the most traction in 2024 is value-based pricing, in which charges are based on expertise, guidance, and results, rather than time spent. Nearly half (48%) of respondents said their firms already offer value-based pricing on some of their services, and 18% said their firms plan to start offering it by the end of the year.” Read the full article here: https://lnkd.in/gN7DsR2g #CPA #Accountant #TaxPros #Tax #Taxes #Accounting #Accountancy #Bookkeeping #Finance #Advisory #Technology #Tech #Report #Reports #Trend #Trends #Staffing #ThomsonReuters
SurePrep, part of Thomson Reuters
Software Development
Irvine, CA 8,919 followers
SurePrep integrates with the leading tax software to streamline the 1040 process for the tax pro & taxpayer.
About us
SurePrep was founded in 2002 and is the leader in 1040 productivity for CPA firms. We deliver seamless integration with your existing tax software to automate and streamline the entire 1040 process for both the taxpayer and CPA. Our solutions are used by more than 23,000 tax professionals ranging from Big 4 firms to sole practitioners to reduce administrative costs, automate workpaper preparation, maximize review efficiency and improve client service. Our technology is covered by numerous United States Patents, including United States Patent Numbers 7,454,371; 7,610,227; 7,636,886; 7,720,616; 7,769,646; 7,853,494 and RE45007. For more information visit www.sureprep.com
- Website
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http://www.sureprep.com/
External link for SurePrep, part of Thomson Reuters
- Industry
- Software Development
- Company size
- 501-1,000 employees
- Headquarters
- Irvine, CA
- Type
- Public Company
- Founded
- 2002
- Specialties
- Tax Document Automation, Paperless, Tax Workflow, Tax Productivity, and 1040 Automation
Products
TaxCaddy
Client Portal Software
TaxCaddy is an award-winning taxpayer collaboration platform, available for taxpayers as an app for iOS/Android or via browser. Features include automated document retrieval from leading financial institutions, photo-scanning, dynamic questionnaires, e-signatures, secure messaging, invoicing, tax return delivery, and custom branding. We designed TaxCaddy to streamline tax season for both taxpayers and tax professionals. The TaxCaddy app delivers a modern experience for taxpayers. Today's clients expect to manage their taxes with the same mobile convenience they enjoy with their bank accounts and investment portfolios. TaxCaddy makes it easy for taxpayers to deliver tax documents early in the season, which means tax professionals enjoy reduced workload compression. "Tax season was a breeze. I finished my part of the process in early February because TaxCaddy was so easy to use." —TaxCaddy user, third-party verified review [TechValidate ID 589-79C-CD9]
Locations
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Primary
17890 Sky Park Circle
Suite 100
Irvine, CA 92614, US
Employees at SurePrep, part of Thomson Reuters
Updates
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🤖💸Technology budgets shouldn’t have annual, one-time reviews. Quarterly forecasting helps firms become more flexible and capable of adapting to emerging opportunities and challenges. ✅Being more responsive could help save budgets and achieve strategic goals. From Boomer Consulting: “Quarterly forecasting also facilitates regular review and reassessment of specific projects. For example, you might revisit ongoing discussions around licensing costs and their impacts on the firm as part of your forecasting process. This approach allows you to balance expenses against revenue, ensuring you maximize opportunities without being constrained by the initial budget you set months earlier.” Read the full article here: https://lnkd.in/gP53-AvJ #CPA #Accountant #TaxPros #Tax #Taxes #Accounting #Accountancy #Bookkeeping #Finance #Advisory #Technology #Tech #Budget #Budgets #Budgeting #Flexible #Flexibility #Adapt #Adapting #Forecast #Forecasting #Strategy #Strategic #Responsive #Review #Reviews #Goal #Goals
Improve your Technology Budgeting with Quarterly Forecasting
boomer.com
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😬Small tax and accounting firms are at a staffing disadvantage when competing against big ones, especially those with outside private equity and other funding. Today’s industry-wide challenges don’t help either. That means the next generation of leaders could look elsewhere to build their careers. ➡️Lynn Ledbetter, Executive Director, Edwards & Associates, PC, shares several ideas for smaller firms to stay competitive in the battle for young talent. From INSIDE Public Accounting: “The challenges facing public accounting are significant, but they are not insurmountable. By adopting thoughtful, employee-focused strategies, firms can create an attractive and supportive workplace. Such environments not only draw talent but make it easier to retain young professionals as they navigate the complexities of public accounting. As we continue to refine our approaches and policies, the goal remains clear: to ensure that public accounting is as rewarding and fulfilling as it is critical to the business landscape.” Read the full article here: https://lnkd.in/gpFFPNz5 #CPA #Accountant #TaxPros #Tax #Taxes #Accounting #Accountancy #Bookkeeping #Finance #Advisory #Talent #Recruitment #Recruiting #ProfessionalDevelopment #ContinuousLearning #CareerGrowth
Perspectives from the Profession – Ideas for Smaller Firms to Remain Competitive and Address the Concerns of the Next Generation - Inside Public Accounting
https://insidepublicaccounting.com
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👋😎☕Here’s a little boost of pick-me-up positivity to accompany your can’t-believe-it’s-Monday coffee! ✨Many tax and accounting firms are streamlining workflows, achieving efficiency, and making their clients and staff happy with SurePrep solutions. 📣See what 5 SurePrep customers had to say about it! From SurePrep, part of Thomson Reuters: “WISE Financial Advisors has been leveraging TaxCaddy, Smart Links, and other SurePrep solutions for years. The firm has been able to streamline their workflow by onboarding clients to a paperless, 100% digital process, increase client satisfaction while decreasing workload compression, and reduce staffing costs with auto-verification technology.” Read the full article here: https://lnkd.in/gkq8_gFx Janover LLC - Hoffman Stewart & Schmidt P.C. - Beasley, Mitchell & Co., LLP #CPA #Accountant #TaxPros #Tax #Taxes #Accounting #Accountancy #Bookkeeping #Finance #Advisory #Automation #Innovation #Workflow #Productive #Productivity #Positive #Positivity #Success #SuccessStories #Feedback #CustomerFeedback #CustomerSatisfaction
Quote it! What these 5 tax and accounting firms are saying about SurePrep
https://corp.sureprep.com
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💸🙄One-time salary increases aren’t enough to stay competitive and encourage early-career accountants. ✅Bringing students back to the profession will require raising salaries above other fields, improving work-life balance, and adding funding for licensures. ➡️Hofstra University professor Jack Castonguay, PhD, CPA, offers recruiting solutions and a real-world assessment of the industry’s current talent pipeline. From Bloomberg Tax: “And here lies the ultimate difficulty for firms in 2024. Salaries have been uncompetitive for long enough that this perception is well-established among students entering college. A one-time increase won’t change that. Students often decide their major before arriving at college; others decide their first year or two. Today’s increases will affect students who will be CPA eligible in 2029 or 2030.” Read the full article here: https://lnkd.in/gkkcUYJd #CPA #Accountant #TaxPros #Tax #Taxes #Accounting #Accountancy #Bookkeeping #Finance #Advisory #Talent #Recruitment #Recruiting #ProfessionalDevelopment #ContinuousLearning #CareerGrowth
Accounting Firms Must Do More Than Make One-Time Salary Bumps
news.bloombergtax.com
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#ICYMI 📰The ongoing $60 billion modernization of the Internal Revenue Service has helped the agency collect $1 billion from delinquent rich taxpayers this year. 1,600 taxpayers with more than $1 million of income and more than $250,000 in tax debt were targeted in the effort. From The New York Times: “Daniel Werfel, the I.R.S. commissioner, said that because of the agency’s larger enforcement staff, it has been able to focus on tracking down and sending letters to wealthy taxpayers who owe money. In many cases, these result in threats of additional penalties until the taxpayers eventually pay their tax bills, he said.” Read the full article here: https://lnkd.in/gK-AEmhM #CPA #Accountant #TaxPros #Tax #Taxes #Accounting #Accountancy #Bookkeeping #Finance #Advisory #InternalRevenueService #IRS #Taxpayers #TheNewYorkTimes #NewYorkTimes #NYT
I.R.S. Crackdown on Delinquent Millionaires Yields $1 Billion
https://www.nytimes.com
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📝🤔The tax and accounting profession is drastically changing due to technology advancements, the new skills CPAs need, and recent changes to the CPA exam. 💡The CPA Evolution initiative may be a helpful roadmap for an evolving profession that now leverages cloud technology, AI, and automation tools. From Rightworks: “The profession is witnessing accelerated advancements in technology, data analysis and security, along with evolving rules, concepts and standards. That means today’s CPAs are expected—and required—to take on more responsibilities than ever before. And they’re expected to take on these responsibilities much earlier in their careers, if not immediately. This includes newly licensed CPAs who are just entering the profession.” Read the full article here: https://lnkd.in/gHEstJ49 #CPA #Accountant #TaxPros #Tax #Taxes #Accounting #Accountancy #Bookkeeping #Finance #Advisory #CPAEvolution #CPAExam #Technology #Tech #Cloud #CloudTechnology #ArtificialIntelligence #AI #Automation
The future of accounting: Exploring the CPA Evolution initiative
https://www.rightworks.com
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#ICYMI 📰IRS Commissioner Danny Werfel’s cat, Emmett, is now being featured on the agency’s Instagram posts. ✨🐱✨Emmett is part of an effort to create eye-catching content that educates taxpayers about scams. From CPA Practice Advisor: “IRS Commissioner Danny Werfel recently dropped by the studios of NBC10 in Boston to talk about tax scams, the agency’s Direct File tax-filing software, and how the IRS is trying to reach a younger audience via social media. That led to a discussion about Werfel’s cat, Emmett.” Read the full article here: https://lnkd.in/g-XyX3gt #CPA #Accountant #TaxPros #Tax #Taxes #Accounting #Accountancy #Bookkeeping #Finance #Advisory #InternalRevenueService #IRS #Taxpayers #Education #Cat #Cats
Danny Werfel's Cat Is the IRS's New Social Media Darling
cpapracticeadvisor.com
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📝INSIDE Public Accounting took a look back at the managing partners (MPs) they profiled in 2023 and selected some of the best quotes. 📣Industry leaders shared their takes on the state of the accounting profession, advice they cherish, and even reading recommendations. From INSIDE Public Accounting: “The long-term benefits of embracing advanced technologies are significant. Firms that successfully integrate these tools can expect improved operational efficiency, reduced errors, and enhanced data security. These improvements translate into cost savings and the ability to offer more competitive pricing.” Read the full article here: https://lnkd.in/gVF3nMuU #CPA #Accountant #TaxPros #Tax #Taxes #Accounting #Accountancy #Bookkeeping #Finance #Advisory #ArtificialIntelligence #AI #Software #Data #Analytics #Blockchain #CloudComputing #Change #Adapt
‘More Listening, Less Talking’ And Other Advice, Challenges, Observations from Top MPs - Inside Public Accounting
https://insidepublicaccounting.com
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🤔A practical path to new tech? 💯The tax and accounting industry has been adopting new technology for years. AI-powered tools are just the latest opportunity in a rich history of progress, but knowing where to start is still a challenge. 📋Thomson Reuters offers five practical steps for firms integrating advanced tech. From Thomson Reuters: “The long-term benefits of embracing advanced technologies are significant. Firms that successfully integrate these tools can expect improved operational efficiency, reduced errors, and enhanced data security. These improvements translate into cost savings and the ability to offer more competitive pricing.” Read the full article here: https://lnkd.in/gFb6myvd #CPA #Accountant #TaxPros #Tax #Taxes #Accounting #Accountancy #Bookkeeping #Finance #Advisory #Technology #Tech #ArtificialIntelligence #AI #Software #Data #Analytics #Blockchain #CloudComputing #Change #Adapt #ThomsonReuters
Embracing tech in accounting: 5 practical steps for firms
tax.thomsonreuters.com