Turn big firm strategy into your growth plan

Don’t want to build a top 100 firm? You can still apply their trade secrets to grow your own practice. We're also sharing a more in-depth approach to M&A priorities and how to open a firm when you aren’t naturally inclined to entrepreneurship. 

But first, go behind the scenes of the Oscars' accounting process to find out what happens before the envelopes get locked inside the briefcase. 

Then settle in to explore the hottest tax scam this season and some of the theories around why return submissions are lower than usual. 

Numbers interpreter: Future-proof your packages by helping clients with financial decision-making, instead of just updating numbers on a dashboard

Friend or foe: Other firm owners shouldn't be your enemy. Here’s why building a community could help grow your business (and make it more enjoyable)

50/50 split: This accountant didn’t start with the entrepreneurial bug, but leveraged a fractional co-founder to launch his firm 

Full throttle: How to move beyond pilot mode and incorporate agentic AI throughout the client lifecycle

Taxpayer beware: Payroll phishing is one of the most believable tax scams, due to well-timed emails and personal information surfaced from data breaches

Lessons from the Top 100

As the Top 100 accounting firms focus more on client advisory services, Dr. Christine Gervais, CPA, breaks down their strategy and applies it to smaller firms. Her first piece of advice is to audit your client list to find the industries and relationships with the highest margins. She also recommends working on staff retention and development to get them comfortable with advisory conversations.

Why this matters: Your own firm doesn’t need to mirror a top 100 firm, but you can learn from them to gain a competitive edge as you build a firm for the future. (Insightful Accountant)

Rethinking the M&A playbook 

As more women become managing partners in the accounting industry, they’re bringing a new strategy to traditional mergers and acquisitions. Sheri Fiske Schultz, MP of Fiske, says that women-led deals are more likely to include conversations around staffing, promotions and team integrations. The reason is that post-merger talent flight is a major factor for underperformance. 

Why this matters: Instead of focusing solely on short-term numbers, incorporating diverse perspectives from women leaders can create a better environment for long-term growth. (Inside Public Accounting)

57%

Number of small business owners admit to knowingly using questionable deductions. (Las Vegas Sun)

• North American cross-border CPA mobility extended through 2028
• Rhode Island and Louisiana join states pushing CPA certification reform
• Worried about genAI client data protection? You're not the only one
• OBBB confusion? Immigration? Theories abound over why tax returns are down this season

A new model for outsourcing

Have you ever considered outsourcing any of your firm's services? Gregg Genovese, practice leader at The Bonadio Group, argues that creating a blend of internal hires and external specialists can solve the CPA labor shortage issue. Plus, your firm can adapt to client needs and offer more complex services without over-investing in a full-time team. 

Why this matters: From fractional CFOs to daily operations, curating your firm’s expertise with outside help lets you grow without a long-term commitment to a specific role or offering. (CPA Practice Advisor)

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The Net Gains is curated and written by Lauren Ward and edited by Bianca Prieto.