Accountants in politics

Accountants in Congress? A $750 billion bookkeeping glow-up? An IRS penalty hack that's actually useful? This week, we have it all. 

We're diving into why CPAs should run for office (seriously), how a simple accounting tweak could change the U.S.' balance sheet and why Latino tax pros are saying "Viva Las Vegas!" 

 P.S. Which industry insiders do you find most insightful on LinkedIn? We want to know. Hit reply to this email, and let us know who you're following.

Elevarse en Latino Tax Fest 2025

Want to grow your accounting or tax practice? On a recent episode of the Accounting Insiders Podcast, Carlos Lopez, EA, spills the details on Latino Tax Fest 2025, a powerhouse event founded by his company, Latino Tax Pro, happening June 16-19 at the MGM Grand in Las Vegas, Nevada. This bilingual event will be packed with IRS updates, ethics training, continuing education hours and business building strategies—not to mention mariachi and poolside networking because why not?

Why this matters: If you're serious about growth (and not just grinding through another tax season), this is the kind of event that could change your firm's trajectory. (Accounting Insiders Podcast)

'The talent crisis means enormous workloads'

Jennifer Pawlitschek brings a neuroscience-based approach to executive coaching, helping accounting professionals develop essential leadership, communication, and business skills. With over 15 years of experience working with accountants and firms, she understands the challenges they face—from heavy workloads to industry-wide talent shortages. In this Q&A, she shares key strategies for long-term success, managing stress and using neuroscience to build resilience in a demanding profession. –Bianca Prieto

What are the top three skills every accountant should develop to achieve long-term success?

First, communication skills. Accountants must communicate across differences—with colleagues, leaders and clients. This includes explaining technical concepts to non-technical audiences.

Second, leadership skills. Like many professionals, accountants are often promoted based on technical expertise. But leadership requires an entirely different skill set—one that must be developed separately from the ability to analyze financial data or ensure regulatory compliance.

Third, business skills. How do we bring in the next client? How do we retain clients long-term? How do we build lasting, trusting relationships?

While all three are key to career success, they are not the biggest challenge accountants are facing today.

What’s the biggest challenge you’re seeing in your practice?

Stress. The talent crisis means enormous workloads, worsened during the busy season.

How do you address this with neuroscience-based coaching?

First, we clarify the physical aspects of stress. Then, we introduce mental and physical strategies to help shift out of fight-or-flight mode. These may include cognitive reframing (to re-evaluate negative thinking), mindfulness techniques (to interrupt repetitive thought loops), and breathwork or physical exercises (to regulate biochemistry). The key is tailoring the right tools for each client and integrating them into daily routines so that when stress hits, they can shift their state in the moment.

What are the results?

More balance and peace of mind, and with that comes greater concentration and an enhanced ability to enter into flow states. That’s when the work goes very smoothly and is deeply enjoyable. Accountants can then not only find greater balance but also work with more clarity, focus and enjoyment—turning stress into a strategic advantage.

This interview has been edited for brevity and clarity.

Editor's note: Would you like to be featured in an upcoming edition of the Net Gains? Send us an email.

CPAs in politics? Yep, and we need more

Are you fed up with politicians and politics? Joseph DioGuardi, CPA, president of Truth in Government and a former member of the U.S. House of Representatives, thinks you should run for office.

In a recent article for The CPA Journal, DioGuardi makes a compelling case for why more accountants should step up. With trillion-dollar budgets and fiscal oversight often playing second fiddle to politics, accounting pros can bring much-needed accountability and financial sense to the table.

DioGuardi shares his experience in Congress and why your skill set might be just what the government needs, whether on the local or national stage.

Why this matters: Politicians make the rules, but accountants know what it takes to balance the books. If you've ever groaned at fiscal policy, maybe it's time to bring your expertise to the ballot box. (The CPA Journal)

Bad debt? IRS penalties? There's a reel for that. Financial educator Kemberly Washington, CPA (@kemcents) shares tax tips with GMA3: What You Need To Know!

Why business doesn't work for some bookkeepers. An eye-opening video digs into the common pitfalls new bookkeepers face (and how to avoid them).

Smelting the books? A simple accounting tweak could make America's balance sheet $750 billion richer.

A glow-up for IRS Online Accounts. The IRS adds new tax documents to its Individual Online Account tool.

You don't need a niche: This bookkeeper says there's a smarter way to find your ideal clients without overcomplicating things.

$20,200

The 2025 depreciation limit for passenger automobiles, a decrease of $200 from the 2024 limit. (IRS)

• Tax fraud infamy: IRS reveals 2024's most outrageous scams, from crypto cons to fake charities. 
• Aprio goes shopping: The firm snaps up JMS Advisory Group to beef up compliance services.
• New boss, new vision: The AICPA's new CEO wants accountants to speak up.
• Audit heat cooling? The Trump administration could mean less scrutiny for auditors.
• $145M fintech fiasco: Aspiration's co-founder accused of a massive investor fraud scheme.

Cast your vote!

It's that time of year again. Voting is now open for the 2025 CPA Practice Advisor Readers' Choice Awards. This annual event lets accounting pros spotlight the software, services and technology tools that keep their practices humming. More than 25 categories are up for grabs, from tax compliance software to document management solutions. So, why not take a coffee break and make your voice count?

 Why this matters: Your input doesn't just pat these companies on the back; it guides your peers toward reliable tools and nudges vendors to keep innovating. (CPA Practice Advisor)

The Net Gains is your one-stop shop for fresh, FREE accounting insights. You can reach the newsletter team at thenetgains@mynewsletter.co. We enjoy hearing from you.

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The Net Gains is curated and written by Janet Berry-Johnson and edited by Bianca Prieto.