Shannon Vincent
December 14, 2021
min read

Not All CPAs are created equally.  

Some of ReNew’s worst enemies are scarcity mindset CPAs who are willing to work for very little. Too many CPAs have a scarcity mindset with few hobbies and an unhealthy lifestyle. Hopefully, this is NOT you!

Here is an alarming stat:

The median salary for a CPA with 7-10 years experience is 94K (according to PCPS study published in the JOA this week).   We understand this number is going up.

Compare this to the average Software Engineer with 7-10 years experience is $140K (in many case with the upside of stock options).

Hello! The industry has done this to itself by putting off business model changes for too long. No reason to wonder why there is shortage of accountants.

You have an opportunity.

The Fed came out last week and said the annual inflation rate was 6.8 % 12 months ending November. This is an anchor for your pricing. That is, the consumer thinks the norm is 6.8% (a number of goods/services are much higher)…. So at a MINIMUM we need to be at 7%. None of this 5% talk.

We would argue it needs to be at least 10% since you are creating more value since you are serving a smaller number of clients and leading with advisory/consultation.

Flick that scarcity mindset off of your shoulder.

Toot your own horn. You are NOT typical. You are not your competitors. ReNew firms lead with advisory and end with the tax return. Big value. Reach out to us to find out how to do that.

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