The irony of accounting training runs deep: While we master complex regulations and ever-changing standards, this very expertise can create resistance to growth. Our profession’s focus on precision and compliance often breeds a fixed mindset — one that values being right over being adaptable.

Think about your last team meeting. Did anyone challenge the status quo? Suggest a new approach? Or did everyone nod along, staying safely within the lines of “how we’ve always done it”?

This fixed mindset carries a steep price tag. While technical expertise remains critical, it’s no longer enough. Today’s landscape demands innovation, adaptability and creative problem-solving — qualities that wither under rigid thinking.

fran_kie – stock.adobe.com

Consider how many opportunities your firm might be missing. Are you still doing things manually that could be automated? Are your client conversations focused solely on compliance rather than strategic guidance? These are symptoms of fixed thinking limiting your firm’s potential.

When team members operate from a fixed mindset, they:

• Avoid challenges for fear of failure;
• See effort as fruitless;
• Ignore useful feedback; and,
• Feel threatened by others’ success.

The result? Stagnant growth, missed opportunities and a team that’s increasingly disconnected from the evolving needs of modern clients.

Watch for these warning signals in your practice that your growth mindset needs a reset:

• Team members who respond to new tech with, “That won’t work here.”
• Staff who hide mistakes rather than learn from them.
• Knowledge hoarding instead of sharing.
• Client relationships that haven’t evolved beyond compliance work.
• Resistance to training outside direct job responsibilities.

Steps to foster growth mindset

Transforming your firm’s culture starts with small, intentional changes that challenge fixed thinking patterns. Here’s how to begin:

1. Reframe challenges as learning labs. Create designated “experiment zones” where teams can test new approaches without fear of failure. This might mean setting aside time for process improvement, brainstorming or creating pilot programs for new service offerings. For example, dedicate the first hour of each week for teams to explore process improvements or automate repetitive tasks.

2. Build safe-to-fail environments. Implement a “learning from mistakes” ritual in team meetings where leaders share their own missteps and the insights gained. When mistakes are viewed as data points rather than disasters, innovation flourishes. Consider creating a “Lessons Learned” channel in your communication platform where team members can safely share their experiences. The key is making these sharing sessions solution-focused rather than blame-oriented.

3. Design effective feedback loops. Move beyond annual reviews to create regular touchpoints for growth-oriented feedback. Focus on effort, strategy and progress, rather than just outcomes. Ask questions like “What did you learn?” before “What did you achieve?” Structure these conversations around three simple prompts: What’s working? What could be better? What support do you need? This approach keeps feedback constructive and forward-looking.

4. Celebrate growth moments. Recognize and reward learning initiatives, not just billable achievements. This might mean highlighting team members who master new skills, implement innovative solutions, or help others grow. Create a monthly spotlight program that showcases different types of growth — whether it’s someone teaching themselves a new software, improving a client interaction, or finding an innovative solution to a recurring problem.

5. Lead as a ‘Connected Leader.’ Leaders need to model the growth mindset we wish to see. This means moving beyond traditional management approaches to create an environment where growth and learning become part of your firm’s DNA.

6. Embrace vulnerability. Share your own learning journey openly. When leaders acknowledge their challenges and growth areas, it creates psychological safety for others to do the same. This might look like:

• Starting team meetings by sharing a current learning challenge.
• Being transparent about your own professional development goals.
• Openly discussing situations where you needed to pivot or adapt.
• Asking for feedback on your leadership style.

7. Support continuous development. Invest in diverse learning opportunities beyond technical training. Consider programs in emotional intelligence, client communication or emerging technologies. But don’t stop at just providing opportunities—actively participate in them yourself. Some approaches that work well:

• Creating learning partnerships across different experience levels.
• Rotating team members through different types of client engagements.
• Supporting certification in emerging areas like data analytics or advisory services.
• Implementing cross-training programs that build versatility.

8. Create mentorship momentum. Establish mentorship programs that cross generational and departmental lines. Fresh perspectives emerge when different viewpoints and experiences collide. Consider:

• Reverse mentoring programs where younger staff teach technology skills.
• Cross-functional mentoring that pairs tax and audit professionals.
• Group mentoring sessions that foster collaborative learning.
• Regular mentor training to ensure effective guidance.

9. Measure success beyond the numbers. Traditional metrics tell only part of the story. To track your firm’s growth mindset evolution, think about these new growth indicators:

• Number of new processes or approaches tested;
• Cross-training participation rates;
• Client service expansion metrics; and,
• Team member skill development progress.

You should also pay attention to these cultural transformation signs:

• Increased question-asking in meetings;
• More collaborative problem-solving;
• Voluntary knowledge-sharing initiatives; and,
• Reduced resistance to change.

And you can judge the long-term impact by:

• Improved staff retention;
• Expanded service offerings;
• Deeper client relationships; and,
• Enhanced firm adaptability.

Creating a growth mindset culture adds adaptability and innovation to your firm’s core strengths. When teams feel empowered to learn, experiment and grow, they naturally deliver better results for clients and the firm.

Start small, stay consistent, and watch your team transform from task-completers to innovative problem-solvers.

Where will you begin? Perhaps it’s time to schedule that team meeting — not to present solutions, but to ask questions and invite new possibilities.

Amazon and Intuit have announced a multiyear strategic partnership to integrate QuickBooks into Amazon Seller Central. Set to go live in mid-2025, this integration aims to provide third-party sellers with comprehensive financial management tools, including real-time insights into profitability, cash flow, inventory, and tax estimates. Sellers will also have access to personalized loans through QuickBooks Capital directly from Amazon Seller Central. The partnership is designed to help sellers better manage their finances, streamline operations, and ultimately grow their businesses more efficiently. (Source: CNBC)

Why this is important for your firm and clients: For starters, there exists third-party software that already does this. Also, many e-commerce platforms like Shopify and Magento have deep integration with QuickBooks and other tools. So this isn’t ground-breaking. But Amazon entering into a formal partnership with Intuit, the maker of QuickBooks, could be a better option for many small merchants. 

Flat tax; doubts about “automatic” IRS calculations; when to shred; and other highlights from our favorite tax bloggers.

Buzzing sounds

• Tax Foundation (https://taxfoundation.org/blog): From July 2021 to September 2022, five states enacted laws to transform graduated-rate income taxes into single-rate tax structures. Where things stand with the states’ flat tax revolution.
• Institute on Taxation and Economic Policy (https://itep.org/category/blog/): Legislatures countrywide are resolved to write new tax policy, and debates are heating up. But states’ fiscal situations vary dramatically. 
• Tax Vox (https://www.taxpolicycenter.org/taxvox): Washington is abuzz over whether Congress will address Trump’s ambitious policy agenda in one bill or two. But lawmakers must confront a more important question.
• Global Taxes (https://www.globaltaxes.com/blog.php): In Case You Missed It Dept.: A circuit court has flip-flopped (again) on beneficial ownership reporting, and now the Supreme Court’s involved.
• Current Federal Tax Developments (https://www.currentfederaltaxdevelopments.com/): An overview of new final regs that identify certain micro-captive transactions as listed transactions and transactions of interest. 
• CLA (https://www.claconnect.com/en/resources?pageNum=0): A look at the new draft Form 7217, “Partner’s Report of Property Distributed by a Partnership,” to collect information such as a partnership’s basis in a property before distribution, the fair market value of the distributed property and any basis adjustments that may apply — all of which promise “a more pronounced impact on real estate partnerships.”
• Tax Notes (https://www.taxnotes.com/procedurally-taxing): Final regs on the oft-litigated Sec. 6751 “supervisory approval” leave longtime questions unanswered. Among them: What exactly happens when a penalty is “automatically calculated through electronic means?”

Shore things 

• Virginia – U.S. Tax Talk (https://us-tax.org/about-this-us-tax-blog/): Long-awaited and at last final Sec. 2801 regs — concerning gifts and bequests received by a U.S. person from certain foreign persons — resemble proposed regulations issued 10 years ago (and 17 years since Sec. 2801 was enacted). “In a nutshell,” a U.S. recipient may have to file a Form 708 (not yet available).
• Armanino (https://www.armanino.com/articles/): How tax credits and incentives are among the details biz clients should keep in mind as they consider nearshoring, offshoring and reshoring.

Tough questions

• MBK (https://www.mbkcpa.com/insights): What to remind biz clients about the Tax Cuts and Jobs Act’s Sec. 163(j), which generally limits deductions of business interest to 30% of a company’s adjusted taxable income.
• The National Association of Tax Professionals (https://blog.natptax.com/): This week’s “You Make the Call” looks at Jason, who gambles at the local casino. He is not considered to be in the trade or business of gambling but does spend a large amount of money at one casino, which gives him perks that total $2,500. During the year, Jason’s gambling pursuits have resulted in gambling winnings of $10,000, which he will report on his 1040. He also keeps a log of all his wagers and has allowable documented gambling losses of $20,000. Assuming Jason can itemize on Schedule A, what amount of gambling losses can he deduct?
• Gordon Law (https://gordonlawltd.com/blog/): What to remind them about who needs to file a FBAR.
• Summing It Up (http://blog.freedmaxick.com/summing-it-up): Nonprofits seem especially vulnerable to theft (what they may comparatively lack in juicy resources from a thief’s perspective they often make up for in a lack of security). A look at common types of theft in nonprofits, as well as security measures they can take.
• Palm Beach Accounting and Financial Services (https://www.pbafs.com/blog): Why do I exist? What is love? And for most of us, the real toughie: When can we shred our financial documents? 
• Taxjar (https://www.taxjar.com/resources/blog): A question on your ecommerce clients’ minds, whether they admit it or not: Should you invest in sales tax software or hire a tax professional? 

Consider it a warning

• Sovos (https://sovos.com/blog/): IRS due dates for 2024 information returns. (Largely unchanged from last year, though tweaked for weekends).
• Canopy (https://www.getcanopy.com/blog): In a recent podcast, Dr. Jackie Meyer, CPA, entrepreneur and author of “The Balance Sheet of Life Formula,” “shares her journey as she goes from a traditional accountant to pioneering innovative approaches in the field.” She also discusses the challenges of postpartum depression and chronic fatigue.
• Wolters Kluwer (https://www.wolterskluwer.com/en/solutions/tax-accounting-us/industry-news): How secure is the cloud?
• Sikich (https://www.sikich.com/insights/): Artificial intelligence may be changing how marketers produce content, but where does content marketing go in 2025? Two challenges B2B brands must overcome.
• Taxable Talk (http://www.taxabletalk.com/): New Jersey recently asked a client to send additional tax documents; one method suggested was email. “Is New Jersey aware of the risks of identity theft by emailing documents?  Is the Division of Taxation aware of their own guidance on this?”
• TaxProf Blog (http://taxprof.typepad.com/taxprof_blog/): Congratulations to Ellen Aprill and Beverly Moran, recent recipients of Association of American Law Schools Tax Section Lifetime Achievement Award.