651 This 2 Person Accounting Firm Does $1.6M/Year [How today’s most scalable firms are built]

🚀 Get smarter faster by learning with other firm owners: https://www.rlz.io/
📩 Want a simple way to keep up with accounting firms and AI? I break it down every week in my newsletter: https://www.jasononfirms.com/newsletter

📌 Check out the cool stuff our sponsors are doing here: https://accountingfirmcoach.com/sponsors/

Welcome to Accounting Firm Coach Office Hours presented by Canopy. I’m Jason Staats. Ready to get 1% better at running an accounting firm? In this episode, I break down two surprisingly profitable accounting firms for sale, including one generating over $1.6 million with just two people, and explain why outsourcing and offshoring can create very different business models. In 💾 You Need This Tech, I share a $400 artificial skylight designed to bring natural-looking light into your office. Then, in 🤓 Nerd Corner, I challenge some of the guidance around AI and taxpayer data presented at an IRS National Tax Forum session. Finally, I answer 📬 Mailbag questions about Double as a practice management tool, seller financing when buying a firm, AI for nonprofit accounting, software security, Grok, and why heavily funded tax AI startups aren’t on my app recommendations list.

📌 The skylight https://www.amazon.com/PHILIPS-Skylight-Ceiling-NatureConnect-inches/dp/B0HDTPRNSD?sr=8-1
💲 The tax firm that’s for sale https://privatepracticetransitions.com/business-listing/1262-established-virtual-tax-practice/
🧾 And the CAS firm that sold https://poegroupadvisors.com/practice/cp2024/

// Chapters:
00:00 - A 2-Person $1.6M Firm
11:32 - A 60% Margin CAS Firm
21:52 - You Need This Tech
26:05 - Bad AI Advice From The IRS
36:56 - Double As A PM?
40:04 - Up-Front Cash?
44:16 - AI For Fund Accounting
47:35 - How To Know if an App Is Secure?
49:21 - Firms Using Grok!?
52:53 - BlackOre Basis and Accrual

📞 Leave me a voicemail at +1 (516) 980-4968!
📧 Email me! [email protected]

💰 Today's Sponsors
Canopy: https://www.getcanopy.com/jason
Gusto: https://gusto.com/
Kick: https://www.kick.co/
Stanford Tax: https://stanfordtax.com/
MakersHub: https://makershub.com/
Verito: https://verito.com/jason?utm_campaign=42071442-Jason&utm_source=Podcast&utm_medium=Podcast&utm_content=show-notes

🗣️ Continue the discussion on social!
X https://x.com/jasononfirms
LinkedIn https://www.linkedin.com/in/jstaats/
YouTube https://www.youtube.com/@jasoncpa