Technology is ever evolving and constantly improving, especially in the accounting industry. It can even be hard for someone who is used to keeping up with change to adapt, let alone someone who struggles with continual transformations. A large majority of CPAs are very set in their ways: they file tax returns and that’s it; they make no effort to understand the economy of online businesses, or they find new entrepreneurial endeavors too intimidating to learn. That is why this blog post is so necessary – it is vital for traditional CPAs to get onboard with the Modern Accounting Industry.
Entrepreneurs today are continually coming up with innovative ideas that expand on the already advanced online market. No longer is it simply about a local business with a handful of employees from down the road. People are working virtually for companies from all over the country and even the world. This requires a much sharper eye from accountants when it comes to properly handling tax liabilities and credits and being proactive with tax strategy. That’s where CPA On Fire holds the edge – we know business advisory is essential to the online entrepreneur’s success!
Many of our clients come to us saying that their former accountants admitted to having no idea how to handle online entrepreneurs. Our clients quickly become impressed with our understanding of the online space and ability to navigate their most difficult questions. This is because we diligently stay informed on the ever-changing tax law surrounding online businesses and implement sound decisions on how to best maximize their benefits.
Let’s be real with each other – being an accountant is not just about filing taxes anymore. To stay pertinent in the accounting industry, CPAs must keep pace with the times to best serve their clients. We have found that investing time and effort into growing our knowledge base has paid off exponentially, leaving our online entrepreneur clients in the best position to receive the most from our expertise.