Warren Beatty didn’t do it.

Faye Dunaway didn’t do it.

Emma Stone didn’t do it.

Jimmy Kimmel didn’t do it.

Well, the Academy Awards mystery has been solved and we now know who did do it.

According to the Associated Press, it was the accountants who messed up the winners’ envelopes – causing ‘La La Land’ to be wrongly announced as Best Motion Picture…

When in fact ‘Moonlight’ was the true winner.

It’s the biggest snafu in the 89-year history of the Oscars.

And PwC accountants Brian Cullinan and Martha Ruiz were right in the middle of it.

Cheryl Boone Isaacs, the president of the film academy, said it was Cullinan and Ruiz who were in charge of the winners’ envelopes – and they muffed the handoff.

Oops.

And right when accountants were starting to be cool. Did you catch Ben Affleck as a freelance accountant who puts the dead in deadline? Not the way Hollywood normally portrays number crunchers.

Alas, the CPA’s day in the sun was DOA.

Meanwhile, doing their best “Last Samurai” imitation, PwC fell on their sword. Firm brass released a statement saying, “For the past 83 years, the Academy has entrusted PwC with the integrity of the awards process during the ceremony, and [on Sunday night] we failed the Academy.”

Boone Isaacs announced that “the Academy of Motion Picture Arts and Sciences’ relationship with PwC… remains under review.”

Poor Brian and Martha. They went from walking the red carpet to being called out on it.

As punishment, they’ve been banned from the Oscars ceremony forever.

What do the reputed culprits have to say? They’re not talking.

But rumor has it that the motive was revenge – for the Academy’s refusal to nominate ‘The Accountant’ for an Oscar.

Garrett Wagner is a CPA and Business Therapist with Thaney & Associates, a forward-thinking firm in Rochester, NY.

I wanted to have Garrett on the podcast because he is an emerging leader on the CPA landscape, and an expert at understanding the millennial generation. This topic is growing in importance to CPA firms, given the general aging of CPA firms and the escalating competition for younger talent.

Garrett started the LinkedIn group ‘Innovating Trailblazers’ to provide support for the next generation of CPAs by allowing them to share ideas, frustrations, and support each other’s growth.

Garrett believes that by focusing on developing the next generation of leaders and understanding the shift in the profession to provide value-added consulting services, that firms can obtain long lasting success.

Check out our conversation here: https://itun.es/us/32T9db.c

Being a millennial himself, Garrett offers an insider’s view of what his generation wants from an accounting career. We discussed generational similarities and differences, how to attract and retain new talent, and also:

  • What is a ‘Business Therapist’?
  • The best ways to find talent outside of your marketplace
  • How the next generation CPAs will change the industry
  • What’s more important to millennials than their paycheck
  • Ways that older CPAs scare away millennial talent
  • Details on the upcoming “Millennial Summit”

Thaney & Associates is a five-decade young firm with offices in New York and Florida. Garrett prepares individual, corporate and partnership tax and also works with CPA firms across the country to help them implement lasting change. He focuses on monitoring the evolving technologies and best practices in the industry to achieve the highest degree of success without being afraid to break free from traditional methods.

The Accounting Success Podcast is available on iTunes and airs Wednesdays at 11:00 am. You can listen anytime by going to https://itun.es/us/32T9db.c and downloading the latest episode. Or, you can tune in on YouTube on The Accounting Success channel at: https://www.youtube.com/channel/UCf8iui-YUVIhTxVCSItxV0w

We’re pleased to announce the publication of our new book, “Changing the Face of Accounting: Forward-thinking conversations about reinventing the CPA field” by HaydenRock partner Ian Welham.

Scheduled to be released later this month, the book features industry movers and shakers, including five of Accounting Today’s 100 Most Influential People.

To give you a feel for what the book is about, here’s a sneak peek from the intro section:

    • “There are over 650,000 Certified Public Accountants in the United States. Most understand that the industry is undergoing profound change.
    • Not surprisingly, many are reacting in the way accountants are most comfortable:
    • They’re waiting… watching… wondering… and weighing options…
    • Then waiting… watching… wondering… and weighing options some more.
    • In other words, sitting on the sidelines.
    • And letting others determine their fate.
    • Meanwhile, some courageous CPAs have elected not to wait.
    • They realize that the industry is changing, and what worked for the last 150 years is no longer effective.
    • They recognize that the modern business owner wants more from his/her accountant than historical record keeping.
    • They understand that the future is not about adding numbers; it’s about adding value.
    • This book is a celebration of these change agents. Meet:
      • The CPA who lands several new clients every month without ever sitting down in the same room with them
      • The fast-growing accounting service started by a teenage girl that’s been featured in The Wall Street Journal, NY Times, Forbes, and Entrepreneur
      • The ex-corporate accountant who built one of the most successful niche CPA practices in the country
      • The former accounting advisor to the U.S. Senate’s Special Whitewater Committee
      • Winner of the “CPA Marketer of the Year” award, presented by Inside Public Accounting

    • There’s also inspiration for those who are trying to chart their own path.
    • Tom Hood, the #2 most influential person in all of accounting (Accounting Today), discusses what it will mean to be a CPA in the future, and where the biggest opportunities will be going forward.
    • New York Times best-selling author and futurist Daniel Burrus shares what he’s telling clients such as Deloitte… Ernst & Young… KPMG… and PricewaterhouseCoopers.
    • Ron Baker, the foremost authority on value-based pricing, explains why the billable hour is a lousy customer experience, and how technology is already changing the profitability of accounting firms.
    • These successful accountants and industry thought leaders have generously agreed to share with you how they serve business owners, and how you can, too.
    • Hopefully their wisdom, vision, and real world experiences will inspire you to take action and discover the rewards of being a 21st Century CPA and Advisor.”

Next week I’ll share an excerpt from the book featuring Tom Hood, CPA Practice Advisor Accounting Hall of Famer and CEO/President of the Maryland Association of CPAs. According to Accounting Today, Tom is the number two most influential person in all of accounting. We tried to get number one, but God was busy that day.

frank

Frank specializes in serving private and public clients in the retail, consumer products, manufacturing, distribution, energy and alternative energy industries. He has significant experience with both primary and secondary equity offerings, debt offerings, private placements, consolidations, internal controls, and SEC reporting. His clients have included development stage venture backed entities to Fortune 50 companies. Prior to joining Sensiba San Filippo, Frank spent over 17 years with Deloitte & Touche in San Francisco.

Check out our conversation here: https://itun.es/us/32T9db.c

Sensiba San Filippo is a fascinating story. Like any successful Silicon Valley business, SSF started in the garage – in this case, the garage of Founding Partner, Steve San Filippo. The Firm is comprised of 20 partners and over 150 staff, and in 2016 was ranked as the 18th fastest-growing accounting firm in the country. SSF is growing both organically and through acquisitions. Women make up 65% of the Firm. Almost half of the staff is millennials, including two Partners; five of the last six Partners have been under 40 years old. They are currently redesigning their offices with millennial work habits and needs in mind.

I was excited to learn some of the challenges and opportunities Frank has faced heading the consulting practice in an environment of rapid growth. We discussed:

  • The secret to growing firm revenue from $12M to $22M in four years
  • Fundamentals of a consulting practice
  • How to take stress away from clients
  • How to build a successful practice almost exclusively on referrals
  • How serving the community can promote firm growth
  • Why the ‘end game’ is much more important to entrepreneurs today

The Accounting Success Podcast is available on iTunes and airs Wednesdays at 11:00 am. You can listen anytime by going to https://itun.es/us/32T9db.c and downloading the latest episode. Or, you can tune in on YouTube on The Accounting Success channel at: https://www.youtube.com/channel/UCf8iui-YUVIhTxVCSItxV0w

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This week’s podcast is all about tax. My guest, Craig Smalley, has been admitted to practice before the Internal Revenue Service as an Enrolled Agent, has a “Master’s in Taxation” Certificate from UCLA, and is a Certified Tax Resolution Specialist. Craig has been in practice for 23 years. He is well versed in US Tax Law, and U.S. Tax Court Cases.

He specializes in taxation, entity structuring and restructuring, corporations, partnerships and individual taxation, as well as representation before the IRS regarding negotiations, audits and appeals.

Craig is the Co-Founder & CEO of CWSEAPA®, PLLC, and Tax Crisis Center®, LLC. CWSEAPA is a think tank of IRS Enrolled Agents, CPAs, Certified Tax Resolution Specialists, Certified Estate Planners, and paraprofessionals, with offices in Florida, Nevada and Delaware.

Check out our conversation here: https://itunes.apple.com/us/podcast/accounting-success-podcast/id1140252087?mt=2#episodeGuid=6d47c7f33966b0ec563876f72c11ef33

While Craig does crank out a whopping 4,000 tax returns a year with help from technology, his firm also provides advisory services to his clients. Craig and I discussed the changing landscape of the industry, his perspective on the fun side of tax, and also:

  • The 2 essential jobs of an accountant (that many CPAs miss)
  • The planning opportunities surrounding the upcoming tax law changes
  • How he became an accounting expert in the cannabis industry
  • How to get a lot done
  • Why Craig is excited about the future
  • One of the biggest hurdles of a growing DIY society
  • What millennials are seeking from their advisors

Craig is the current Google Small Business Accounting Advisor for the Google Small Business Community. He is a contributor to Accounting WEB and Accounting Today, and is the author of 12 books about taxation. His articles have been featured in the Chicago Tribune, New York Times, and Yahoo Finance, among others. He is the Co-host of “Tax Avoidance is Legal,” which is a nationally broadcast weekly Internet radio show.

The Accounting Success Podcast is available on iTunes and airs Wednesdays at 11:00 am. You can listen anytime by going to https://itun.es/us/32T9db.c and downloading the latest episode. Or, you can tune in on YouTube on The Accounting Success channel at: https://www.youtube.com/channel/UCf8iui-YUVIhTxVCSItxV0w

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Bill Sheridan is an author and the Chief Communications Officer of the Maryland Association of CPAs. Our conversation this week is about the high-velocity changes that are ripping through the accounting industry.

The Maryland Association of CPAs is the leading state CPA association in the 50 states. Bill serves multiple roles there, including chief communications officer, editor, and resident social media cheerleader. He is the creator and co-author of CPA Success, the best CPA blog on the web. He also writes and produces the MACPA’s podcast, called ‘CPA Spotlight,’ and manages the association’s numerous social networks.

A journalist by trade, Bill is the author of the book, “Look, Lead, Love, Learn: Four Steps to Better Business, a Better Life – and Conquering Complexity in the Process” which some have called “must reading” for CPAs. His articles have appeared in the Journal of Accountancy, Associations Now and SmartCEO. CPA Success has appeared on numerous “top accounting blogs” lists.

In other words, the man has influence – and that’s not just my opinion. In fact, Accounting Today has declared him one of the 100 most influential people in all of accounting.

Bill and I talk about disruption in the accounting industry and also:

  • How Moore’s Law makes change inevitable
  • The great opportunity available to millennials in accounting in the next decade
  • How to use technology in your favor rather than risk being displaced by it
  • How to keep up when the Aspen Institute predicts that for science and technology, the rate of change during the next decade will be 4 to 7 times faster than in the previous decade

Check out our conversation here: https://itunes.apple.com/us/podcast/accounting-success-podcast/id1140252087?mt=2#episodeGuid=6d47c7f33966b0ec563876f72c11ef33

Bill speaks regularly to CPAs and association groups on the strategic uses of social media and the future of communication, collaboration and education. He has presented at national and international conferences, including the AICPA’s inaugural Digital CPA Conference, and the CCH Small Firms Conference. In his spare time, he delivers presentations on behalf of the Business Learning Institute, where he helps accountants learn to swim in the turbulent waters of change.

The Accounting Success Podcast is available on iTunes and airs Wednesdays at 11:00 am. You can listen anytime by going to https://itun.es/us/32T9db.c and downloading the latest episode. Or, you can tune in on YouTube on The Accounting Success channel at: https://www.youtube.com/channel/UCf8iui-YUVIhTxVCSItxV0w

 

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This week’s Accounting Success Podcast is about technology, and I’m pleased to say we’ve gone right to the top of the mountain.

My guest is Jim Bourke — Partner, Director and Member of the Management Committee at WithumSmith+Brown.

More specifically, Jim is the Partner in charge of internal technology at Withum, and is the Firm’s Technology Niche Practice Leader.
 
We talked about staying plugged into the changing technology landscape, using technology as a strategic asset, and also:

  • How ‘the Internet of things’ is impacting the accounting industry
  • What keeps clients up at night
  • Why he refuses to bring partners to new business meetings
  • The best way to prepare your firm for a future sale
  • Why Withum is interested in data scientists and technology companies even over accounting firms

Check out our conversation here: https://itunes.apple.com/us/podcast/accounting-success-podcast/id1140252087?mt=2#episodeGuid=6d47c7f33966b0ec563876f72c11ef33

Jim has served as President of the New Jersey Society of Certified Public Accountants and on the AICPA’s Board of Directors and Council. He was a leading advocate for the AICPA’s Certified Information Technology Professional Credential, and is a member of the board of directors for the New Jersey Technology Council.

At Withum, Jim heads-up the business development, audit, tax and consulting services areas for companies engaged in the technology sector. He has been a frequent speaker to many State CPA Societies, the AICPA and other organizations on topics specifically related to technologies used by the business community today.

Jim has been continually named by Accounting Today as one of the Top 100 Most Influential people in Accounting, and has been named by The CPA Technology Advisor as a Top Thought Leader in Public Accounting Technology.

WithumSmith + Brown is a Top 30 firm offering myriad services including audit, tax and advisory services. Withum has 14 offices in 6 states and the Cayman Islands, and employees over 900 people, including nearly 400 accountants.

The Accounting Success Podcast is available on iTunes and airs Wednesdays at 11:00 am. You can listen anytime by going to https://itun.es/us/32T9db.c and downloading the latest episode. Or, you can tune in on YouTube on The Accounting Success channel at: https://www.youtube.com/channel/UCf8iui-YUVIhTxVCSItxV0w

 

craig-ballantyne_blog

This week we did two things completely different. First, since I was out of town, HaydenRock partner Paul Partridge served as the podcast host. Second, the podcast had little to do with a CPA business, per se, but everything to do with a CPA’s productivity and sanity.

The theme of the podcast was time management and productivity – about getting things done without having to work 80 hours a week. And I can’t think of a better person more qualified to talk about this than Paul’s guest, Craig Ballantyne. Craig is the Editor of Early to Rise and author of The Perfect Day Formula.

Check out our conversation here: https://itunes.apple.com/us/podcast/accounting-success-podcast/id1140252087?mt=2#episodeGuid=858712527f67c6a6e094345a927f3c3f

For those of you who may not be familiar with it, Early to Rise is the online personal development newsletter that wakes you up every day by giving you inspiration and practical advice on how to accomplish your goals. Craig’s daily essays reach over 150,000 readers and teach executives how to build their wealth, improve their health and become the best version of themselves.

Craig is also a Strength & Conditioning coach and the creator of Turbulence Training. He has been a contributing author to Men’s Health magazine for over 15 years. If that’s not enough, he also coaches entrepreneurs all over the world. Since 2008 his business clients have sold over $175 million dollars worth of health, fitness and nutrition products. Thanks largely to strong time management skills, Craig has achieved his dream of running a thriving business while traveling the globe, visiting over 35 countries.

Paul and Craig discussed The Perfect Day Formula, as well as:

  • The 5 Pillars of Success and Transformation
  • The two things missing from your to-do list
  • The best ways to control and protect your time
  • The importance of putting systems in place in both your work and personal life

The Accounting Success Podcast is available on iTunes and airs Wednesdays at 11:00 am. You can listen anytime by going to https://itun.es/us/32T9db.c and downloading the latest episode. Or, you can tune in on YouTube on The Accounting Success channel at: https://www.youtube.com/channel/UCf8iui-YUVIhTxVCSItxV0w

 

michael-rozbruch_blog

Perhaps the most effective way to grow your firm is to find a specialty or niche that makes you different than the other 650,000 licensed CPAs out there. This week I had a fascinating discussion with Michael Rozbruch, one of the most successful niche CPA practitioners in the country.

In addition to being a CPA, Michael is a Certified Tax Resolution Specialist. He is a nationally recognized entrepreneur and the founder of the Tax & Business Solutions Academy™ as well as Roz Strategies™, an eLearning, training, and consulting services company that coaches and helps practitioners build highly profitable IRS representation practices through proven marketing, sales, practice management, and case resolution strategies.

Check out our conversation here: https://itunes.apple.com/us/podcast/accounting-success-podcast/id1140252087?mt=2

Michael helped pioneer the tax resolution industry over 18 years ago. He founded and built one of the most successful and reputable tax resolution firms in the country, going from zero to over $22 million in revenue in 12 years.

Michael was a 2011 semifinalist in Ernst and Young’s Entrepreneur of the Year award. He has made the Inc. 5000 list twice and has been featured as a guest expert on more than 200 radio and television shows, including Fox News. He has been interviewed and published in US News & World Report, The Wall Street Journal, Entrepreneur Magazine, Inc. Magazine, Tax Analysis, Tax Notes Today, and others.

Rather than try to be all things to all people, Michael has built a finely tuned niche practice based on the simple fact that one in 50 taxpayers has an IRS problem that needs to be solved. We discussed the importance of niches and also:

  • The reason most conventional CPAs feel unappreciated and under paid
  • Treating your Accounting firm like a business can be a big advantage
  • The “Swipe & Deploy” theory: How to incorporate great ideas into your firm
  • Why accountants should never take their foot off the marketing gas pedal
  • How to get paid in advance
  • Important IRS enforcement changes in 2017
  • Positioning your firm from a different perspective—marketer first, professional second

The Accounting Success Podcast is available on iTunes and airs Wednesdays at 11:00 am. You can listen anytime by going to https://itun.es/us/32T9db.c and downloading the latest episode. Or, you can tune in on YouTube on The Accounting Success channel at: https://www.youtube.com/channel/UCf8iui-YUVIhTxVCSItxV0w

 

tom_filomeno

It was refreshing to have Tom Filomeno, President of Filomeno & Company, a 10-CPA firm in West Hartford, Connecticut, on the podcast this week.

Tom’s father, Joseph Filomeno, founded the firm in 1966, and Tom has adopted his father’s mantra, which is to always look ahead and make the firm better.

Tom doesn’t consider himself an accountant; he considers himself a problem solver. Likewise, he doesn’t consider his firm an accounting firm; he considers it to be a proactive advisory firm. As such, Filomeno & Company offers an extensive list of services beyond traditional tax and compliance, including: Business Advisory, Business Valuation, Corporate Tax, Estate, Gift & Trust, Fraud Prevention, Individual Income Tax, and Qualified Plans, to name a few.

Check out our conversation here: http://directory.libsyn.com/episode/index/id/4906193

Today, Tom spends considerable time serving clients, particularly in manufacturing and Wealth Management. He collaborates with manufacturing clients on their specialized issues, including inventory, job costing, overhead allocation, and financial analysis.

He also consults regularly on wealth management, financial planning, tax planning, succession and estate planning issues. In addition, Tom serves as trustee for many individual clients.

Filomeno & Company services a variety of industries, including Construction & Real Estate, Healthcare, Manufacturing, Professional Service, Retail, and Technology.

Our conversation covered a number of topics, including:

  • From child apprentice to President of the firm… what it’s like to grow up in the business
  • The influence of an entrepreneurial father
  • The single biggest change in the accounting industry
  • Why accountants must learn it’s not about the numbers, it’s about the people
  • The benefits of having a Director of Culture
  • The significance of staying involved in the community
  • Exploring project-based billing
  • Technology as a competitor
  • You start a business to sell it: How to pick your head up from the work and achieve your goal.

The Accounting Success Podcast is available on iTunes and airs Wednesdays at 11:00 am. You can listen anytime by going to https://itun.es/us/32T9db.c and downloading the latest episode. Or, you can tune in on YouTube on The Accounting Success channel at: https://www.youtube.com/channel/UCf8iui-YUVIhTxVCSItxV0w