Partnerships

While one marketer is good, two or more working toward a common goal is even better.

Strategic planning is about the choices partners make about the future of the firm, both what to do and, more importantly, what not to do.

Many firms are struggling to digest and integrate mergers and are finding it difficult to make things happen.

Managing a practice is a separate business by itself and needs the care and attention you give to the professional services part of your practice.

Many firm leaders are in denial and fall short of what’s required, and that’s the principal reason why so many firms can’t get to the next level.

When I hear a partner at a midsized CPA firm say, “my client” or “my book of business,” the hair on the back of my neck stands up.

I have been in my own practice a long time and figured out early on that if I never lost a client, I would do pretty well.

Small and midsized CPA firms that are striving to stay independent need to avoid the potential “sand traps” that can stump their growth and eventually threaten their independence.

The top firms are getting larger, stronger and better by gobbling up small and midsized firms, making it tougher to compete for talent and clients.

As this unusual year comes to an end, many firms will be divvying up profits and assigning new partner salary or draw amounts for 2021. That could lead to conflict.

The enforcement push comes after years of persistently low examination rates.

It's time to re-evaluate the structure of your accounting firm’s wealth management practice.

The Internal Revenue Service released an early draft of the instructions with revised directions for how partnerships should report capital accounts and tax basis capital for partners on Schedule K-1.

If you are, you are guaranteed to have a plan that will fail to deliver on your future vision.

Aligning with other practices and business professionals has become more critical than ever before.

Strategic planning is misunderstood in most small and midsized CPA firms.

Accounting firms are still managing to see increases in their fees and income per partner this year, despite the economic downturn from the COVID-19 pandemic, according to the latest edition of the annual Rosenberg Survey.

The Internal Revenue Service introduced a section of its website dedicated to the Centralized Partnership Audit Regime.

Business development is the lifeblood of any professional services firm, or any organization that sells anything for that matter.

I am a strong proponent of partner retreats and offsite meetings.