|
 |
Welcome to Our Newest Member
|
|
Mukesh Kshatriya, CA
Mayami Financial.
Toronto, ON
Azad Mudhar, CA
Cusimano Professional Corp.
Toronto, ON
Manoj Varghese, CA Cusimano Professional Corp.
Toronto, ON |
|
|
Because Your Attitude Affects Your Clients
|
We talk with accountants across the country every day and we often hear that they are tired, they are overworked, they haven't taken a vacation in two years or more, that they've lost the passion.
Running
a business is tiring, time-consuming, and often frustrating. It's not
uncommon for the "Entrepreneurial Light" to burn out. However, if
you're not excited about your services, no one else is
going to be. And, who wants to buy a service from someone who's not
enthusiastic about it themself?
Quick tips for regaining your passion: - Write down all the reasons you love your services and what you do
- Tell others the story of why you became an entrepreneur
- Imagine
what you want your business to look like in 5 years (even if it's not realistic... perhaps especially if it's not realistic!)
- Read inspirational books, blogs, and articles about small business ownership
- Take time to rejuvenate
Look,
you became an entrepreneur accountant in public practice for a reason. And, how you feel about your
company is going to be reflected in the risks you'll take, the way you
interact with your customers, and the amount of money you bring in!
Ray Kroc (founder of McDonald's) said, "If you work just for the money,
you'll never make it, but if you love what you're doing, and always put
the customer first, success will be yours."
Be passionate! Be excited! Learn
to love your business, your customers, and the simple joys of small
business ownership again. Pass that passion on to your employees and
customers, and you'll see a phenomenal difference in the growth and
success of your business!
And if you want to talk, we're here to listen. |
|
|
Connectors Keep it Simple
by Dr. John C. Maxwell |
|
William Henry Harrison gave the longest inaugural address of any
U.S. President, taking two hours to plod through a whopping 8,445-word
speech. Even though the speech was delivered outdoors on a frigid and
rainy day, the President stubbornly refused to wear an overcoat or hat.
As a result, he caught a cold that developed into pneumonia, and he
died a month later. The leadership lesson: it pays to simplify.
Two Myths about Simplicity
Myth #1 Simplicity Lacks Depth Myth #2 Simplicity Is Easy
When we encounter something simple, we assume it has been hastily
thrown together or not fully thought out. To us, simplicity means
taking shortcuts and denying the complex reality of life. However, in a
society flooded with information, simplicity has never been more
difficult to achieve. Nor has it ever been as important. Click here for the full article
|
|
|
Xerox M20I
Multifunction Office Printer
For Sale
|
One of our members, Paul Raphael, has a large office work center machine for sale. It has not been used to its capacity over its lifespan with a workload of 22,000 pages per month and just over 120,000 pages printed in the past 5 years. Extra Toner cartridges available. Click here for technical data on the machine from the Xerox site.
Please call Paul at 905-542-0527 for more info.
|
|
|
|
|
|
 The
Canadian Innovator |
Greetings!
Happy Valentines Day and Family Day to all. We hope you had wonderful holiday with your families and friends and celebrated your important relationships. Now it is time to sharpen those pencils, check out all systems are go, and get ready for the smoothest tax season yet. No stress, minimal overtime and a happy office. Check out Chris's tax season advice below on the importance of the engagement letter. In January, we asked if you, our members, were planning to attend our national conference which is planned to be held at the Hockley Valley Resort just north of Toronto on Sept. 16-17, 2010. It is an expensive undertaking to commit to the rooms, meals speakers and other arrangements as guarantees are required, so we need to have a good idea of the attendance early. If we guarantee too many our costs are raised. If we guarantee too few, there may not be enough rooms or space available. Please let us know if you have not already your intentions as it will help us out immeasurable in our planning. There will be much more detail on what we will be doing in the months to come but we are committed to run three regional conferences in addition to our national conference. These regional conferences will be held in Winnipeg (now in September), Calgary or Edmonton and Vancouver in September in addition to the National Conference. We will be looking at more live seminars and Members' Mornings. We are expanding our Webinar Series; looking at specific compliance/tax topics in depth sessions over 2-4 webinar sessions.. We have a new inspirational movie for you to enjoy The Simple Truths of Life. We also have an interesting podcast from Malcolm Gladwell, author of Blink, The Power of Thinking without Thinking. Peggy |
|
|
Engagement Letters
Important for your Tax Season
Chris Frederiksen, Chairman, 2020 Group
|
One
of the biggest mistakes I see in firms coming into tax season is not
having a signed engagement letter from each of their clients every year.
Engagement letters are incredibly important. They must:
- Describe the scope of the engagement (including start and end times)
- Establish both the firms' responsibilities AND the clients
- Explain the penalties applicable to tax payers
- Explain fees, terms and method of payment
- Explain circumstances under which an accountant may withdraw or terminate the engagement
Also if you use outsourced staff, make sure you have fulfilled any notification obligations to your clients.
And most importantly get the letter signed.
We
make sure a copy of the signed engagement letter. either scanned or the original is in the client folder, the another is sent to the client and it is noted in the workflow process as a critical step. Until we have a copy of the signed
engagement letter, Work cannot start until we have a signed engagement letter. We find 1-2 telephone calls is required and sometimes a visit to pick up the letter.
I
often get asked to see our engagement letter and because of the legal
nature of the document I am reluctant. However your professional
liability insurance provider should have examples and guidelines. I've
uploaded 2 sample engagement letters from the AICPA Professional
Liability Insurance Program to the Resource Center, but please check with your insurance provider/ legal counsel as these
letters are guides and should be tailored to the specific needs of your
clients and services.
While you're in the Resource Center, look for these recently uploaded resources to help your tax season:
- 2009 Tax Organizer and marketing letter
- Tax Return Fee Worksheet and phone script
- Blue and Green Sheet Systems
- Help Sheet Systems
- IRS Audit Prepayment Program
- Reception slide show
- Delinquent account letters
- Client termination letters
- Thank you and welcome letters.
As
always we're here to help if you need information on listing companies,
printers, contact information for any vendors, please let us know. We
can answer your questions and put you in touch with the right people.
Our toll free number is 800 788 0190. Good luck for tax season.
Best Personal Regards,
Chris Frederiksen |
|
|
Clouding Computing
is Like an Electric Toothbrush
Roy Keely, Xcentric LLC
|
No really, it
is. Have
you made the leap to an electric toothbrush yet?
If yes then you understand where I am going with
this post. If
not, that's okay but know your life is about to change! Don't get me
wrong, nothing is wrong with the old-fashioned toothbrush. It works
as advertised. People have been using it for years, it is a good
deal at $4 or less, and you just need water and toothpaste for it
to work.
So why would you change? You don't have a cavity, the cost is
nominal, and it's a known
quantity. I had
the same thoughts at one point; here is a brief story about my
journey.
It all began when I was on a trip and saw a friend brushing
with a Philips Sonicare (I am not being paid
for this) and
began to question them on why they would dare spend $120 on a
toothbrush. "I care about my teeth,
that's why," they said. I was offended. I care about my teeth, I
brush them 2+ times a day and
floss when I can - how do they know I don't care about my teeth? This
conversation started my research into the topic of electric
toothbrushes versus the traditional type. I read websites,
packaging, company promises, and asked my dentist and friends. In
the end it came down to 2 things: 1)
what did my dentist have to say about it and 2) what friends used
the brush and did they have
better teeth than my other friends who didn't use the electric.
For the entire article and how it relates to Cloud Computing, click here.
|
|
|
Technology Update -
Ready For Cloud Computing?
|
Xcentic LLC is a US based consulting firm that specializes in the CPA market. They have an interesting assessment kit you can use to evaluate whether your firm can or should move to cloud computing. |
I am excited by the number of firms I have had the pleasure of visiting over the last few months. What excites me is how many of them are moving forward towards a paperless office and embracing the technology associated with this.
With the tax season ahead of them they are sure to see the benefits associated with being paperless.
If you have not taken the steps to go paperless and are considering it after Tax Season please make a note to contact us to help you with this process.
Sincerely,
Peggy Tyers
2020 Canada
| |
|
|
|
|
