CalCPA and Thomson Reuters Partner to Help Tax Preparers

Partnership Will Focus on Helping CPA Tax Preparers Drive More Revenue Through Advisory Services

Nov. 12, 2020

BURLINGAME, CA.—The California Society of CPAs (CalCPA) announced a new strategic partnership with Thomson Reuters to offer the Practice Forward Tax Advisory Platform to California CPAs. Thomson's Practice Forward platform helps tax preparers evolve from doing returns to providing higher value tax advisory services and increasing their revenue in a competitive practice area as a next-generation tax accounting firm.

"A significant shift is underway in the tax preparation sector to expand service offerings into tax advisory and even financial planning," said Brad Monterio, CalCPA chief learning officer. "CalCPA is partnering with Thomson Reuters to offer the Practice Forward platform as a way to help our California members get out in front of this shift and expand their businesses. We deliver meaningful value to our members by offering them this leading-edge platform to transform their tax practices without learning new tax skills. Practice Forward includes specialized personal coaching, tools, templates and powerful technologies to begin generating new revenue within days."

The Thomson Reuters Practice Forward Tax Advisory Platform guides tax firms through a business model transformational roadmap. The program culminates in a proactive client service approach that harnesses the firm's unique expertise establishes the firm as its clients' most trusted tax adviser.

"The COVID-19 pandemic has had a tremendous impact on small businesses, and we have heard from accounting professionals the need for them to offer advisory services to help these businesses weather the storm," said Keith Nichols, general manager at Thomson Reuters. "Expanding into advisory services is a mutually beneficial relationship, businesses get the expertise on financial management and accountants are able to obtain a recurring revenue stream."

"Financial planners are already encroaching on traditional tax practices as they expand into doing returns for their financial planning clients," added Monterio. "Practice Forward arms tax preparers with what they need to not only preserve their core tax and compliance practices but also expand into adjacent areas and compete effectively."

About CalCPA: CalCPA traces its heritage to 1903 when the California State Society of Certified Public Accountants was organized. In 1909, it merged with two other state CPA associations to form CalCPA. CalCPA serves more than 45,000 members in public practice, private industry, academia and government, and has 14 chapters across California. CalCPA also offers more than 1,400 live courses, conferences, webcasts and on-demand self-study courses annually.

About Thomson Reuters: Thomson Reuters is a leading provider of business information services. Our products include highly specialized information-enabled software and tools for legal, tax, accounting and compliance professionals combined with the world's most global news service—Reuters.


Media Contact:
David Colgren
(917) 587-3708