The Extinction of Overpriced Accounting Services – Natural Selection of CPAs

I'm just going to say it and get chastised by every CPA I know, but most accounting services are fundamentally commoditized. Yes, there are some specific things that come up that are not googleable, but 99% of the work I see accountants pumping out is rubbish. Basic errors. Books not matching tax returns. Deducting clearly non-deductible expenses. Not depreciating assets. Rookie stuff. And these CPAs charge these ridiculous fees because they think that clients don't know any better, and it totally breaches the client's loyalty to abuse them when the accountants aren't even using the excess fees to add value to the work.

One of my new clients was paying $4K for a partnership from his old CPA, a return that was just a copy-paste of somebody else's books. They were making less than $100K revenue. A return like that takes 4-8 hours tops, and that's if you're massaging it well.

And it's really just data entry, just being real. So tell me, in what world is that worth $1000 per hour? Now it wasn't poorly done, but it had errors. And homie, any basic tax return being done for $1K per hour should be fckn spotless.

Look, business is a full contact sport. And you gotta choose your teammates wisely.

We have super strong software and technology as accountants that makes tax and bookkeeping work much easier than it used to be, and I'm not going to sit here and charge for my time as though things are getting harder.

The real real: accounting has gotten easier with AI and other new apps, and your CPA should be charging you less for anything that is considered bookkeeping or tax preparation, since I promise you it's taking them less time now. Unless they are just behind the curb and don't understand the new tech in the market. Then they'll just get eaten by the accountants who do.

Fight me