WealthAbility™ for CPAs

Join Tom Wheelwright in this episode as he explores the CPA labor shortage with Professor Paul Madsen of University of Florida. Madsen is a Professor at the Fisher School of Accounting. His primary research interests include accounting regulation and standard-setting, the labor economics of accounting occupations, and 19th and 20th century accounting history. His research has been published in a number of top tier academic journals including The Accounting Review; Accounting, Organizations and Society; Accounting Horizon; Accounting, Economics, and Law; and The Connecticut Law Review. Discover what's driving the CPA labor shortage, what it means for the future of your tax business, and the power that you and future recruits will have even as the profession changes. Learn more about your ad choices. Visit megaphone.fm/adchoices

Join Tom Wheelwright in this episode as he discusses "Security in the Cyber Age" with authors Derek Reveron and John E. Savage, both professors and experts in cybersecurity. Derek Reveron is a Chair and Professor of National Security Affairs at the U.S. Naval War College in Newport, R.I., who specializes in strategy development, non-state security challenges, intelligence, and U.S. defense policy. An Wang Professor Emeritus of Computer Science at Brown University, John E. Savage, also joins the conversation, and has served as a Jefferson Science Fellow in the U.S. State Department, a Fellow at the EastWest Institute, and as a member of the Rhode Island Cybersecurity Commission. Discover ways to protect your clients, yourself, and your tax business from cyber threats, gain insight on proactive safety measures, as well as invaluable tools and organizations to protect you like cyber insurance. Learn more about your ad choices. Visit megaphone.fm/adchoices

Join Tom Wheelwright in this episode as he speaks on gaining amplified intelligence using AI in the financial sector with Kate Bravery, Senior Partner and Mercer's Global Advisory Solutions & Insights Leader, author, and podcast host of the New Shape of Work. Kate is the author of Mercer's annual Global Talent Trends study and speaks regularly on the Future of Work. She is currently partnering with the World Economic Forum under their Good Work Alliance project to define Good Work standards and metrics. Find out the power of human-machine teaming and creativity, how to improve our processes by using AI to enhance (not replace) what we do, and how innovating with AI will amplify our intelligence so our practice and clients can excel as quickly as the world is changing. Learn more about your ad choices. Visit megaphone.fm/adchoices

Are you having difficulties growing your tax business amidst a busy schedule and an everchanging tax law? Is it possible to propel your practice to a whole new level of growth and success in lieu of a struggling economy? In this episode, Michael D. Watkins joins Tom in an eye-opening discussion of how strategic thinking and its disciplines can expand the possibilities for you and your clients. Learn more about your ad choices. Visit megaphone.fm/adchoices

How will the Corporate Transparency Act (CTA) impact your small business clients? What can we do to help our clients get through this? In this episode, John Skabelund joins Tom in a thorough breakdown of what the CTA means for our clients, what steps are required for filing, and the important role CPAs and attorneys play in this upcoming change. Learn more about your ad choices. Visit megaphone.fm/adchoices

Do our clients understand how their oil and gas investments actually work? Why is it so important to broaden our economic literacy to best serve them? In this episode, John Engel joins Tom in exploring the current climate for oil and gas investments, economic and ethical considerations for you and your clients, and a deeper understanding of how to make their investment portfolio work for them. Learn more about your ad choices. Visit megaphone.fm/adchoices

WealthAbility for CPAs #111 – Has your firm discussed the potential benefits of cost segregations with your clients in their wealth strategies? With proper planning, accelerated deprecation strategies can be extraordinarily powerful tools when it comes to building their portfolio. In this episode, Kim Lochridge joins Tom to discuss the finer details of what goes into cost segregations and how you can help your clients take advantage. Learn more about your ad choices. Visit megaphone.fm/adchoices

WealthAbility for CPAs #110 – How do we get rid of toxicity in the office? What changes must be made to establish a more productive and positive practice? In this episode, Anthony Iannarino joins Tom in discovering how to eliminate negativity, propel towards happiness and productivity, and how it leads to living our best lives.  Learn more about your ad choices. Visit megaphone.fm/adchoices

WealthAbility for CPAs #109 – Moore v United States may have major ramifications on CPAs and their clients. What do we already know and what can we expect as this case continues? In this episode, Garrett Watson provides a deep analysis on Moore v United States so we can navigate accordingly with our clients and to prepare everyone for the outcome ahead. Learn more about your ad choices. Visit megaphone.fm/adchoices

WealthAbility for CPAs #108 – Taxes are often anxiety inducing for our clients. But what if we could alleviate that stress by practicing positive communication? Are you so task-driven that you're forgetting to build a necessary financial relationship? In this episode, Julien C. Mirivel and Alex Lyon join Tom in exploring the key fundamentals of positive communication, how you can be a better leader using them, and how building deeper relationships catapults us to a better practice. Learn more about your ad choices. Visit megaphone.fm/adchoices

The volatility of the economy, inflation, and the aftermath of the pandemic have affected our community of small business owners. How do we structure our own firm from the inside so it is impenetrable from outside factors? What are the internal foundations we need to build a risk-free business? In this episode, Patrick Esposito joins Tom in exploring how to internally structure our small business for success, sustainability, and longevity. Learn more about your ad choices. Visit megaphone.fm/adchoices

With the IRS announcing they will ramp up their audits, what does this mean for our firms and our clients? How can we be the best advocate and alleviate the stress of an audit for all parties involved, but especially for our clients? In this episode, Tom Wheelwright walks us through the in-depth details of what to expect from an audit, and the steps to handle it from start to finish, so we can optimally and optimistically serve our clients. Learn more about your ad choices. Visit megaphone.fm/adchoices

When was the last time you stepped back and updated your pricing model? What is this price based on, anyway? Perhaps our perspective could be shifted, structures updated, and everyone is a winner on the other side.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Should you be utilizing cost-segregation studies? Do your clients qualify for research and development credits? Even if our clients don't benefit from these tools right now, understanding how they could in the future might help them generate significantly more wealth. In this episode, Kim Lochridge joins Tom to help us discover how accelerating depreciation and capturing credits can maximize cashflow, dramatically increase deductions, and protect you against IRS audits. Learn more about your ad choices. Visit megaphone.fm/adchoices

Every business benefits from a rigid and comprehensive set of internal systems. Even if you don't know it already, your business is probably operating with systems whether you know it consciously or not.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Have you thought about starting a podcast? Maybe a simple newsletter? Your personal brand exists whether you want it to or not, and people will have their opinions.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Entrepreneurs put so much of themselves into their businesses, it's natural that the business is going to become part of them. Understanding yourself can lead to an authenticity in your business that attracts success.  Learn more about your ad choices. Visit megaphone.fm/adchoices

WealthAbility for CPAs #100 – AI is here, and it's already having a significant impact on life as we know it. Instead of fearing our dwindling relevance, perhaps we can leverage the power of AI in our business.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Landing clients is more cut-throat than ever. People are often talking about getting “more” prospects, but have you explored converting “better” prospects? A deeper understanding of human nature might be the key to your success. In this episode, David Kurkjian joins Tom to discuss how we can efficiently connect with our prospects to make sure we're the solution they need. Learn more about your ad choices. Visit megaphone.fm/adchoices

How do we improve our decision making under pressure? Is there a formula we can use to guide our decisions in our business?  Learn more about your ad choices. Visit megaphone.fm/adchoices

Do you find sales challenging? Have you been struggling to find your authenticity with a client? In this episode, Colin Coggins and Garrett Brown join Tom in dissecting what goes into the perfect sale and how you can refine your methods through personal development. Learn more about your ad choices. Visit megaphone.fm/adchoices

Are you curious about shifting from compliance-based tax services to strategic and consultive? What is the value in accelerating your firm to another level? Learn more about your ad choices. Visit megaphone.fm/adchoices

What impact can AI have on the accounting and advisory professions? Is there a way to utilize AI for your practice, but still position your business to be AI proof?  Learn more about your ad choices. Visit megaphone.fm/adchoices

Are your plans working out for you? Or do you find them working against you - costing you time, money, your team and your company? Are there practical ways to create and implement a smooth and reliable plan to ensure fast delivery and accelerated results?  Learn more about your ad choices. Visit megaphone.fm/adchoices

Are you or your team chronically stressed because of work? Are you able to catch the warning signs before they cause a negative relationship with work and with yourself? In this episode, Christina Maslach joins Tom Wheelwright to breakdown what areas in the workplace cause burnout, how to recognize the signs, and how you can implement solutions so you, your team, and in turn your clients can truly thrive. Learn more about your ad choices. Visit megaphone.fm/adchoices

How can we CPAs find and attract the best clients for us? Is there a way we can only work with clients we genuinely enjoy? In this episode, Justin Breen joins Tom to discuss how the art of storytelling and embracing your unique superpower can bring clients who love who you are, and not just what you do. Learn more about your ad choices. Visit megaphone.fm/adchoices

It's important to prepare ourselves for the future, so we can better help our clients traverse the ever-evolving tax code in 2023. In this episode, Garrett Watson joins Tom to explore the dialogue and expected changes we'll see in the coming year. Learn more about your ad choices. Visit megaphone.fm/adchoices

Starting your own business can be grueling. What can we learn from the success of other micro businesses? Is running a business all by yourself a viable road to success? In this episode, Elaine Pofeldt joins Tom to discuss how to build a high-revenue CPA business as a solo or small practitioner.  Learn more about your ad choices. Visit megaphone.fm/adchoices

When you create tax strategies for your clients, do you discuss the benefits of life insurance and the value it can bring to their investment plans? In this episode, Kim Butler joins Tom to discuss how we can incorporate and leverage life insurance policies into our wealth goals.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Have you ever received a complaint from a client? Were you able to turn a client's negative experience into something positive for growth? In this episode, Janelle Barlow joins Tom to discuss how we build systems that can grow from complaints to ensure that clients receive the ultimate service experience. Learn more about your ad choices. Visit megaphone.fm/adchoices

Would your clients describe your firm as “modern”? Are you utilizing all the tools that your competitors have started to leverage for themselves? In this episode, Rob Brown joins Tom to discuss what updates an accounting firm needs to survive in the modern day. Learn more about your ad choices. Visit megaphone.fm/adchoices

Discover how developing your comfort zone – not getting out of your comfort zone -- propels growth in your business. In this episode, Stacey Hall joins Tom to discuss how CPAs can unlock sales success by developing their comfort zone to better engage with prospects and clients. Learn more about your ad choices. Visit megaphone.fm/adchoices

Accountancy is about to make a leap into the future. Many things will be automated, but are there some things that won't be? Can a computer provide tax strategy when so much of it is contingent on the emotional desires of a client? In this episode, Martin Bissett joins Tom to discuss how you position yourself and your firm for the future of accountancy.  Learn more about your ad choices. Visit megaphone.fm/adchoices

We have emerged from the pandemic into a permanently altered landscape that dictates how we run a successful CPA firm. There has been a shift at the fundamental level from recruitment to prospecting. What new variables are on the table and how can we evolve within the volatility? In this episode, Jodie Padar and Tyler Clark join Tom to discuss what's changed and how CPAs stand to gain from the status quo. Survey - www.wealthability.com/cpa-poll CPA Event – www.wealthability.com/cpaevent2022 Learn more about your ad choices. Visit megaphone.fm/adchoices

As CPAs, it's our role to advocate for our clients. A proper defense starts with a proper understanding of what the rules are. With Biden giving the IRS an additional $80billion dollars, the odds of your clients getting audited is higher than ever. In this episode, Joe Thorndike joins Tom to discuss what we can expect the IRS to do with their increased budget. Learn more about your ad choices. Visit megaphone.fm/adchoices

Are we headed for a recession? Is inflation going to overwhelm the markets? What is the cost reversing inflation? In this episode, Richard Duncan joins Tom to discuss if the U.S. should brace for a soft or hard landing amidst our current economy. Learn more about your ad choices. Visit megaphone.fm/adchoices

Inflation is an insidious, pervasive, and regressive tax that never gets voted on. On top of everything, the ambiguity of the language dictating the IRS adds an additional layer of confusion. In this episode, Garrett Watson joins Tom to discuss how to shield your clients from the impacts of inflation. Learn more about your ad choices. Visit megaphone.fm/adchoices

Have you succeeded in recruiting your all-star team? By and large, business owners said hiring good CPAs is their biggest challenge. In this episode, Christina Morse joins Tom to help us discover how to attract, recruit, and retain the best talent for your tax business. Learn more about your ad choices. Visit megaphone.fm/adchoices

Who is your dream client? Would you even recognize them if they walked through the door? Finding and retaining your ideal clients can make your business more enjoyable and far more profitable. In this episode, Tyler Clark joins Tom to discuss what you can do to attract people you love working with. Learn more about your ad choices. Visit megaphone.fm/adchoices

Have you thought about creating an exit strategy? Did you know a good exit plan can substantially increase the value of your business? Buyers, employees, and even clients have lots to gain from it. In this episode, Chris Vanderzyden joins Tom to discuss the components of a proper exit strategy. Learn more about your ad choices. Visit megaphone.fm/adchoices

Has your marketing been generating clients? Do you have a strategy to convert people's curiosity into lasting relationships? Creating and marketing your brand is an essential pillar in growing your business. In this episode, Brendan Kane joins Tom to help us discover how to systematically find and engage new clients.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Sometimes what you think about yourself can cloud your understanding of how others feel about you. Knowing yourself as an advisor can lead to a better relationship with your clients. In this episode, Dr. Alan Patterson joins Tom to discuss how to engineer a blueprint for lifelong success. Learn more about your ad choices. Visit megaphone.fm/adchoices

Discover how success begins with a design, and improves employee retention, hiring, productivity, and client output. In this episode, world-renowned designer Bill Burnett joins Tom to discuss how design is the foundation for workplace success.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Discover how surging inflation impacts taxes, and tax strategies. CPAs will hear what steps they can take today to help their clients combat inflation. In this episode, Garrett Watson joins Tom to discuss the impacts of policies and rising interest rates, and how they play a role in the future of your investments and even your well-being. Learn more about your ad choices. Visit megaphone.fm/adchoices

Good leadership is imperative to sustainable business growth and can often inspire people to be their best. In this episode, retired Army Colonel Chris Kolenda joins Tom to discuss what type of leader builds a successful CPA practice and how CPAs can develop winning leadership skills.  Learn more about your ad choices. Visit megaphone.fm/adchoices

Business drives innovation, but what is driving that force within the business? All things being equal, a business with culture will prevail. In this episode, Traci Fenton joins tome to discuss how to create a freedom-centered tax business that serves your clients and drives profit. Learn more about your ad choices. Visit megaphone.fm/adchoices

Feeling “stuck” happens to every CPA who owns or works in a tax business. Now is a good time to take ownership of that feeling and find a solution. In this episode, Britt Frank joins Tom to help us discover how to “un-stick” your career and create opportunities that provide growth and freedom. Learn more about your ad choices. Visit megaphone.fm/adchoices

The hardest part of entrepreneurship is dealing with people. Bridging the gap between the ‘logical' and the ‘sensitive' is imperative in the current climate. Today, Devora Zack joins Tom to help us discover how to identify the personality types of employees and clients, and build productive relationships.  Learn more about your ad choices. Visit megaphone.fm/adchoices

The most successful CPAs are aligned with their clients. They understand that successful sales are about helping the client, not themselves. In this episode, David Hoffeld joins Tom to discuss what your clients – and the clients who passed over you – really think about you. Learn more about your ad choices. Visit megaphone.fm/adchoices

CPAs are great at thinking about numbers, but as a business owner you need to think about more than numbers: Serving clients you love to work with and building a business with a purpose. In this episode, Geraldine Carter joins Tom to discuss how to achieve all this, from a business coach who specializes in working with solo CPAs and small CPA firms. Learn more about your ad choices. Visit megaphone.fm/adchoices

Is your brand memorable? Does your story connect? In this episode, Simon Mainwaring joins Tom to discuss how branding is essential in “future proofing” your business. Learn more about your ad choices. Visit megaphone.fm/adchoices