Tech spend ≠ firm growth
Plus: Soft skills over software | Raise prices without losing clients
If your tech budget's ballooning faster than your patience with AI, this week's newsletter is for you. We're digging into the real cost of chasing the shiny new things, the importance of soft skills and a podcast that says yes, you can raise your prices without losing your best clients.
But first, Erica Goode, CPA, shares how to get your act together before you start chasing firm growth.
Brand power: Why your firm's best marketing asset might be you.
Ask away: Why good clients question their CPAs (and great ones listen).
Going solo in bookkeeping? This mentor spills the tea on the dream and the drama of self-employment.
Network smarter. If you're leaving a conference with nothing but a tote bag and sore feet, you're doing it wrong.
Soft skills are the new firm currency
Technical know-how alone won't carry the next generation of accountants, according to Rebekah Olson, CPA and CEO of the Maryland Association of CPAs. The pandemic left a dent in professional and communication skills. That includes skills like leadership, collaboration and adaptability, which used to be shaped through in-person mentoring. To rebuild, MACPA is launching cohort-based programs to help new professionals find their footing in the profession while connecting them to a broader community.
Why this matters: The future of accounting depends on people who can think critically, lead confidently and communicate clearly, not just crunch numbers. Investing in these skills is investing in firm longevity. (CPA Practice Advisor)
Hire smarter, price braver, market like you mean it
Hiring feels impossible, pricing feels awkward and marketing feels...optional. Sound familiar? The Federal Tax Updates podcast tackles those exact pressure points, breaking down how firm owners can stop white-knuckling their way through growth. Hosts Roger Harris, EA, and Annie Schwab, CPA, chat with Jeff Phillips, Amanda Aguillard and Katarina Thomas about building smarter hiring systems, charging what you're worth (without the guilt trip) and turning your online presence into a client magnet. Their advice is equal parts practical and freeing, because running a profitable, modern firm shouldn't feel like an endurance sport.
Why this matters: The firms that figure out how to balance people, pricing and promotion can build practices that sell themselves. (Federal Tax Updates)
90%
The percentage of auditors who believe technology has enhanced audit quality over the past five years. (The Accountant Online)
- U.S. Tax Court may pack up early if Congress can't get its act together
- SEC puts MassMutual under the microscope for creative accounting choices
- EY's audit overhaul reveals how messy cleaning up can really get
- Deloitte got caught using AI to prepare footnotes, and the AI was wrong
- U.S. bankruptcies rise, a reminder that high interest rates and tight capital markets make for rough balance sheets
When tech spending goes from smart to yikes
Firms are pouring money into technology so fast that control is starting to slip. That's according to Brian Strickland, Senior News Writer at the AICPA & CIMA. And he's got receipts: 86% of companies upped their IT budgets over the past year, and most expect to do it again. But leaders worry that if they appear to be overspending relative to peers, they'll lose credibility, which nudges them toward defensive cuts rather than strategic decisions.
Why this matters: The defensive posture is dangerous. When cost-cutting becomes the reflex reaction, you risk gutting innovation, underfunding critical security or abandoning long-term bets because they don't deliver immediate ROI.
You're juggling margins, client value and risk all at once. Tech investments can boost efficiency, scalability and competitive edge, but only if you treat them strategically. It's time to demand clear guardrails instead of simply buying the shiny new thing. (Journal of Accountancy)
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The Net Gains is curated and written by Janet Berry-Johnson and edited by Bianca Prieto.