As Busy Season Approaches, CPAs Are Cautiously Optimistic
Source: AICPA CPA Insider
Excerpts from this article by Rick Telberg are reprinted with permission from the AICPA.
The vast majority of CPA firms expect the 2010 busy season to be as good or better than last year. According to a recent survey by the Bay Street Group, 38 percent of CPA firms expect the 2010 busy season to be “better than last year,” compared to 22 percent that are bracing for one “worse than last year.” The rest, 40 percent, expect “about the same.”
The following chart lists CPAs' chief concerns:
| Chief Concerns for Busy Season 2010 | |
| General economic situation. | 62% |
| Clients late or unprepared. | 48% |
| Getting up-to-date on new tax issues. | 41% |
| Tax code changes. | 38% |
| Setting aside enough time to plan. | 30% |
| Late or erroneous K1s, 1099s, etc. | 26% |
| Personal or family issues. | 23% |
| Getting up-to-date on new office, technology or software processes. | 21% |
| Finding good staffers. | 20% |
| IRS operations. | 17% |
| Partner or office issues. | 17% |
| Making plans correctly. | 16% |
| Technology/software problems. | 15% |
| Competition from others. | 12% |
| Getting up-to-date on new accounting and auditing issues. | 12% |
(Source: CPA Trendlines survey by Bay Street Group LLC for the AICPA Insiders)
For the complete article, click here and read “Economy Weighs on Busy Season Outlook,” in the November 9, 2009, issue.
From AICPA CPA Insider, November 16, 2009, www.CPA2biz.com.
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