OUTLOOK 2024: The Tax & Accounting Forecast for the Year Ahead WELCOME!And, Thank You! For Joining the Study Panel.We're certain you'll find the results useful for your firm, your practice, your career and your clients.(And it'll take less than 10 minutes – we timed it.) Question Title * Where should we send YOUR FREE REPORT on the results?(Look for an email from research@cpatrendlines.com) Your Email cc: a Friend Question Title * Now that TAX SEASON 2023 is winding down, what's YOUR PERSONAL OUTLOOK on TAX SEASON 2024? Much better Somewhat Better About the same Somewhat Worse Much worse Question Title * What will you do DIFFERENTLY in 2024? Question Title * How will ARTIFICIAL INTELLIGENCE (A.I.) impact YOUR PRACTICE? (Check one.) Very Positive (It'll help us be more efficient.) Somewhat Positive Not Sure Somewhat Negative Very Negative. (It'll run us out of business if we're not careful.) Question Title * What can A.I. do For Tax & Accounting firms? Or To firms? Question Title * How's YOUR FIRM dealing with the STAFFING SHORTAGE?(Check all that apply.) Not a Problem At All for us. We're HITTING BURN-OUT. We're TURNING AWAY WORK because of it. We're UPGRADING COMP & BENEFITS packages. We're looking to MERGERS & ACQUISITIONS. We're OUTSOURCING at least some work. Other (please specify) Question Title * HOW MUCH WORK (of any kind) is your firm OUTSOURCING these days?(Use the slider to pick a number between 0 and 100%) None – 0% About 50% Practically All – 100% Clear i We adjusted the number you entered based on the slider’s scale. Question Title * WHAT ELSE can FIRMS LIKE YOURS do about THE STAFFING SHORTAGE? Question Title * WHICH NICHES offer your BEST NEW OPPORTUNITIES? (Check all that apply.) Individuals Small Business Mid-Size Business Large Business Nonprofits Real estate Manufacturing Technology Professional services (doctors, lawyers, etc.) Construction Healthcare Wholesale & Distribution Hotels & restaurants Banks and Thrifts State & Local Gov't Pension Plans Retail trade Other (please specify) Question Title * OPTIONAL: WHY did you choose THOSE NICHES? Question Title * WHICH SERVICE LINES represent YOUR BIGGEST OPPORTUNITIES?(Check all that apply.) Audit & Assurance / Comps & Reviews Bookkeeping / Write-Up Business Advisory / Consulting Services Business Valuation / Transactional Services Client Accounting Services Cash Flow Monitoring and Management Services Financial Statements / P&Ls / Reports HR & Benefits Admin A/P & Bill Payment A/R & Customer Invoicing Payroll Processing / Compliance Technology Advisory & Consulting Payroll and HR Compliance State and Local Tax Income Tax Prep & Planning Technology Advisory & Consulting PFP / Wealth Management Other (please specify) Question Title * OPTIONAL: Which SINGLE Service Line looks the MOST ATTRACTIVE, and WHY? Question Title * What do you see as your BIGGEST OPPORTUNITIES?(Check all that apply.) Getting MORE CLIENTS Getting BETTER, HIGHER-VALUE clients Winning more BUSINESS from current clients. Increasing PRICES & BILLING RATES Expanding into NEW NICHES Adding new SERVICE LINES LeveragingAUTOMATION & TECHNOLOGY to streamline workflows A new MERGER or ACQUISITION Upgrading STAFF EXITING the business through sale or retirement Getting a PROMOTION and a RAISE Finding a NEW JOB Other (please specify) Question Title * OPTIONAL: Which SINGLE OPPORTUNITY looks the BEST? (And WHY?) Question Title * What are your BIGGEST CHALLENGES? (Pick all that apply.) STAFFING & Retention. Raising PRICES / Billing Rates Controlling SALARY costs. Capital for NEW GROWTH. Keeping up with NEW TECHNOLOGY. New CODE, REGS, & RULES. Getting MORE clients. Getting BETTER clients. Managing PROFITS & NET INCOME. WORK-LIFE Balance / Burn-Out. Other (please specify) Question Title * OPTIONAL: What's YOUR PLAN for addressing your SINGLE BIGGEST CHALLENGE? Question Title * HOW MUCH do you expect your firm will be INCREASING or DECREASING...?(Whole numbers, percentage change over the next 12-18 months. A rough guess is okay.) Up by about 5% Up about 10% Up 15% Up 20% Up More Than 25% No Change Down The Firm's Overall Fee Income The Firm's Overall Fee Income Up by about 5% The Firm's Overall Fee Income Up about 10% The Firm's Overall Fee Income Up 15% The Firm's Overall Fee Income Up 20% The Firm's Overall Fee Income Up More Than 25% The Firm's Overall Fee Income No Change The Firm's Overall Fee Income Down Pricing / Billing Rates Pricing / Billing Rates Up by about 5% Pricing / Billing Rates Up about 10% Pricing / Billing Rates Up 15% Pricing / Billing Rates Up 20% Pricing / Billing Rates Up More Than 25% Pricing / Billing Rates No Change Pricing / Billing Rates Down Number of Clients Number of Clients Up by about 5% Number of Clients Up about 10% Number of Clients Up 15% Number of Clients Up 20% Number of Clients Up More Than 25% Number of Clients No Change Number of Clients Down Revenue per Client Revenue per Client Up by about 5% Revenue per Client Up about 10% Revenue per Client Up 15% Revenue per Client Up 20% Revenue per Client Up More Than 25% Revenue per Client No Change Revenue per Client Down FTE Headcount FTE Headcount Up by about 5% FTE Headcount Up about 10% FTE Headcount Up 15% FTE Headcount Up 20% FTE Headcount Up More Than 25% FTE Headcount No Change FTE Headcount Down Staff Salaries Staff Salaries Up by about 5% Staff Salaries Up about 10% Staff Salaries Up 15% Staff Salaries Up 20% Staff Salaries Up More Than 25% Staff Salaries No Change Staff Salaries Down Partner / Owner Comp Partner / Owner Comp Up by about 5% Partner / Owner Comp Up about 10% Partner / Owner Comp Up 15% Partner / Owner Comp Up 20% Partner / Owner Comp Up More Than 25% Partner / Owner Comp No Change Partner / Owner Comp Down Your own comp Your own comp Up by about 5% Your own comp Up about 10% Your own comp Up 15% Your own comp Up 20% Your own comp Up More Than 25% Your own comp No Change Your own comp Down OPTIONAL: Why? Question Title * What's your FORECAST for BUSINESS CONDITIONS and THE ECONOMY over the next 12-18 MONTHS for... ? Much Worse Somewhat Worse About the Same Somewhat Better Much Better ...Your Clients / Customers ...Your Clients / Customers Much Worse ...Your Clients / Customers Somewhat Worse ...Your Clients / Customers About the Same ...Your Clients / Customers Somewhat Better ...Your Clients / Customers Much Better ...Your Firm / Company ...Your Firm / Company Much Worse ...Your Firm / Company Somewhat Worse ...Your Firm / Company About the Same ...Your Firm / Company Somewhat Better ...Your Firm / Company Much Better ...Yourself and Your Family ...Yourself and Your Family Much Worse ...Yourself and Your Family Somewhat Worse ...Yourself and Your Family About the Same ...Yourself and Your Family Somewhat Better ...Yourself and Your Family Much Better ...The Nation's Economy in General ...The Nation's Economy in General Much Worse ...The Nation's Economy in General Somewhat Worse ...The Nation's Economy in General About the Same ...The Nation's Economy in General Somewhat Better ...The Nation's Economy in General Much Better ...Small Business in Particular ...Small Business in Particular Much Worse ...Small Business in Particular Somewhat Worse ...Small Business in Particular About the Same ...Small Business in Particular Somewhat Better ...Small Business in Particular Much Better Question Title * YOUR ANALYSIS: With your economic forecast, what's your BEST ADVICE for SMALL BUSINESSES these days? Question Title * Can we quote you? THANKS! Your Name Firm Email Phone Click the "NEXT" button below to see Today's Big BONUS Question. Next
