CPA Survey of the 2012 “Busy Season”

October 2012

If you’re like most other Metro New York CPAs, you’re looking ahead to a better busy season next year, on top of a generally improved busy season last year.

Our surveys of area CPAs - and my personal conversations with dozens of firm partners - tell me that the 2012 busy season was pretty good.
In fact, only 5% of the CPAs we’re hearing from say it was anything less than “good.” And about 22% say it was “Excellent.”

When we dig in and ask exactly what made busy season 2012 “Good” to “Excellent,” we get some interesting answers.

The economy, it seems, wasn’t always a big factor for some professionals. “70-75% of business comes from income taxes, so it doesn’t matter how poorly the economy is doing,” according to a partner at a three-person firm with offices in the northern suburbs outside the city. (You know who you are, but we promised confidentiality.)

Another CPA told us “More efficient than ever, more work was done using similar staff. Billing was higher than prior year, we keep growing.” That’s what we love to hear, in this case from a two-partner firm on Long island which does a lot of work in international taxes and hedge funds.

But what we really like to hear is a comment like this from a firm with office s in the city and on Long Island: “We had a very busy tax season and our staff stepped up to the plate.” That’s great!

But then, he added, “However the burden that was placed on our admin staff to follow up with clients regarding the e-filing forms was a bit overwhelming. In addition we added a firm portal which was a learning curve for our clients on how to access their tax documents.”
Well, I guess that’s progress.

Of course, I’d be remiss if I didn’t remind everyone that at RF Resources, we may be able to help you with your busy season plans by assisting in partner search or a merger or acquisition. My direct line is (212) 490-9700 or you can email me here. Absolute confidentiality always assured.  - Robert Fligel, CPA

P.S. See RF Resources featured in the Crain’s NY article"From Minnows to Marlins".

Robert Fligel

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Recent Partner Moves

Here is a sample of our recent partner searches. Average new compensation was around $400k

  • Tax - High Net WorthNYC

  • Business ManagementNYC

  • Tax - Large Local FirmNYC