CPA Practice Advisor - 8

FROM THE TRENCHES

RANDY JOHNSTON

Do Your Best

MANY CPA FIRMS make most of their revenue from tax compliance. While some pundits
claim that tax will not be an important part of CPA firms in the future, this won't happen
any time soon. Compliance services are "must haves" as opposed to "nice to have"
services. While we have covered other service offerings in the columns throughout the
year, what can we do to improve our tax offerings?
Traditionally, CPA firms have
used tax software providers like
Wolters Kluwer Tax & Accounting,
Thomson Reuters, Intuit and Drake.
While personal and business tax
software is core to the practice, CPAs
change tax preparation software as
often as they change physicians
and religions. Supporting products
for your tax department go beyond
tax preparation. Consider planning,
portals, e-signature, workflow, 1040
workpaper software, tax document
gathering products, Robotic Process

8

NOVEMBER 2019 ■

Automation (RPA), tax research, as
well as specialty products such as
sales and use tax software. To build
a comprehensive practice, most firms
have a library of tools to support their
professional tax team.
If you are in the market to replace
or add tools for your tax practice,
there are several considerations. Vendors want to sell you new products,
and they want you to be happy with
the products you select. There are
important characteristics that you
might take for granted, for example

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speed, reliability, accuracy, availability and integration when you work
with a single vendor publisher. Other
more subtle expectations include
timely support, non-disruptive
updates, ease of use, rapid completion of common tasks, and logical
implementation of features. Finally,
pricing for the product, conversion,
and per user are important decision
factors, too. You should create your
own shopping checklist.
Expansion into special tax areas
require special tax tools and tech-

EVP & Partner
K2 Enterprises &
CEO of Network Management Group, Inc.
randy.johnston@cpapracticeadvisor.com
@RPJohnston

niques. Consider the advantages to
your clients if you can electronically
gather documents or prepare sales
tax returns. Consider the advantages
to your team if you have proper workflow, 1040 workpaper automation and
RPA. Consider the advantages to both
your clients and your team if you use
portals and e-signatures. Should you
cost justify these tools to yourself and
your partner group?

SO, HOW DO WE
RECOMMEND AND PICK
THE RIGHT TAX TOOL
STRATEGY?
First, clearly identify your existing tools and assess your needs.
Consider your target clients and
services. Do the existing tools satisfy
the needs of all clients in a seamless


http://twitter.com/RPJohnston http://www.CPAPracticeAdvisor.com

CPA Practice Advisor

Table of Contents for the Digital Edition of CPA Practice Advisor

From the Editor: The Land of the Free
How to Get Started with Client Accounting Services
Crafting a Strategic CAS Plan
From the Trenches: Do Your Best Tax
2019 Product Review: Sales & Use Tax Systems
Marketing Your Firm: Marketing to the Home Care Nursing Industry
Marketing Your Firm: Your Bedside Manner: 3 Steps to Improve Client Trust
2019 Product Review: Hosting Service Providers
A Year in the Life of a Payroll Accountant: The Pros & Cons of Temp vs. Seasonal Workers
A Year in the Life of a Payroll Accountant: 6 Retirement Tips for Generation X
The ProAdvisor Spotlight: Newest Features in QuickBooks Online Advanced Speed Workflow
Guest Column: 7 Productivity Hacks for the Strategic CFO
The Staffing & HR Advisor: You May Be Overlooking Top Performers When Hiring
The Millennial Advisor: The Problem with Price
The Leadership Advisor: The Change We Can Control
AICPA News
Bridging the Gap: 3 Small Steps Toward Transformation
Special Feature: The Unseen Talent Pool
CPA Practice Advisor - 1
CPA Practice Advisor - 2
CPA Practice Advisor - 3
CPA Practice Advisor - From the Editor: The Land of the Free
CPA Practice Advisor - How to Get Started with Client Accounting Services
CPA Practice Advisor - Crafting a Strategic CAS Plan
CPA Practice Advisor - 7
CPA Practice Advisor - From the Trenches: Do Your Best Tax
CPA Practice Advisor - 9
CPA Practice Advisor - 2019 Product Review: Sales & Use Tax Systems
CPA Practice Advisor - 11
CPA Practice Advisor - 12
CPA Practice Advisor - 13
CPA Practice Advisor - Marketing Your Firm: Marketing to the Home Care Nursing Industry
CPA Practice Advisor - Marketing Your Firm: Your Bedside Manner: 3 Steps to Improve Client Trust
CPA Practice Advisor - 2019 Product Review: Hosting Service Providers
CPA Practice Advisor - 17
CPA Practice Advisor - A Year in the Life of a Payroll Accountant: The Pros & Cons of Temp vs. Seasonal Workers
CPA Practice Advisor - A Year in the Life of a Payroll Accountant: 6 Retirement Tips for Generation X
CPA Practice Advisor - The ProAdvisor Spotlight: Newest Features in QuickBooks Online Advanced Speed Workflow
CPA Practice Advisor - Guest Column: 7 Productivity Hacks for the Strategic CFO
CPA Practice Advisor - The Staffing & HR Advisor: You May Be Overlooking Top Performers When Hiring
CPA Practice Advisor - The Millennial Advisor: The Problem with Price
CPA Practice Advisor - The Leadership Advisor: The Change We Can Control
CPA Practice Advisor - AICPA News
CPA Practice Advisor - Bridging the Gap: 3 Small Steps Toward Transformation
CPA Practice Advisor - Special Feature: The Unseen Talent Pool
CPA Practice Advisor - 28
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https://www.nxtbook.com/endeavor/cpapracticeadvisor/CPA_Practice_Advisor_November_2020
https://www.nxtbook.com/endeavor/cpapracticeadvisor/october2020
https://www.nxtbook.com/endeavor/cpapracticeadvisor/september2020
https://www.nxtbook.com/endeavor/cpapracticeadvisor/august2020
https://www.nxtbook.com/endeavor/cpapracticeadvisor/CPA_Practice_Advisor_July_2020
https://www.nxtbook.com/endeavor/cpapracticeadvisor/CPA_Practice_Advisor_June_2020
https://www.nxtbook.com/endeavor/cpapracticeadvisor/may2020
https://www.nxtbook.com/endeavor/cpapracticeadvisor/CPA_Practice_Advisor_April_2020
https://www.nxtbook.com/endeavor/cpapracticeadvisor/CPA_Practice_Advisor_March_2020
https://www.nxtbook.com/endeavor/cpapracticeadvisor/february2020
https://www.nxtbook.com/endeavor/cpapracticeadvisor/december2019
https://www.nxtbook.com/endeavor/cpapracticeadvisor/november2019
https://www.nxtbook.com/endeavor/cpapracticeadvisor/october2019
https://www.nxtbook.com/endeavor/cpapracticeadvisor/september2019
https://www.nxtbook.com/endeavor/cpapracticeadvisor/august2019
https://www.nxtbook.com/endeavor/cpapracticeadvisor/july2019
https://www.nxtbook.com/endeavor/cpapracticeadvisor/june2019
https://www.nxtbook.com/endeavor/cpapracticeadvisor/may2019
https://www.nxtbook.com/endeavor/cpapracticeadvisor/april2019
https://www.nxtbook.com/endeavor/cpapracticeadvisor/march2019
https://www.nxtbook.com/endeavor/cpapracticeadvisor/february2019
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