There once was a time when young CPAs got in line at a firm and “waited their turn” to become partner. Today, a number of factors are challenging this apprenticeship model. According to the AICPA’s 2012 PCPS Succession Survey, less than half of multi-owner practices have succession plans in place, and 42 percent point to a lack of confidence in the leadership ability of junior partners as the single largest succession issue.
Only the cost of fuel oil and gasoline has risen more than the cost of college tuition over the past 10 years, rising a staggering 88 percent since 2003.As higher education tuition costs continue to rise, saving for college is becoming increasingly difficult for many American families.
Female clients of wealth management firms often have different circumstances behind their financial planning needs. Some are breadwinners and business owners, while others are at-home family caregivers. Some worry about paying college tuition, caring for an elderly family member and managing household finances. Nearly all put their families’ needs ahead of their own.
Does your firm's partner agreement contain the necessary elements to buy out retiring partners in the near future? Perhaps you haven't looked at the agreement in several years, or maybe your firm doesn't even have one. Here are tips on what it takes to make partner buyouts successful.
There's no question that the most profitable firms (defined as high-per-partner income) in our profession have figured out that leverage and a well-managed pyramid are key ingredients. Why is it then that so many firms are struggling with just the opposite?
Effective August 1, 2013, the long-established, highly regarded firm of Schoenfeld Mendelsohn Goldfarb LLP (SMG) has merged into the firm of Janover LLC with offices in Garden City and Manhattan, New York.
While "big data" has become a buzzword and the ability to readily capture data to inform business decisions has significantly increased in recent years, overlooked in this data grab is the importance of financial data and accountants, specifically.
E-mail is one of the most widely used marketing tools. But with so many marketing e-mails out there, it takes skill and practice to cut through the clutter. Here are a dozen tips that will help you do just that.
Partner retreats, while often taking place in relaxing atmospheres, typically are anything but relaxing. However, the importance they have to the firm and for those invested in the future of the firm cannot be underestimated.
The common perception is that most of the key provisions included in the Patient Protection and Affordable Care Act take effect in 2014. But employers should be advised that other responsibilities and rights kick in before then.