Partnerships

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.

To get started building your team of entrepreneurs, consider some “assembly instructions.”

The proposed drafts aim to provide more clarity for partners on how to figure their U.S. income tax liability.

Setting partner compensation is an art and not a science. Show me your compensation plan and I’ll tell you your firm’s strategy.

It's not just about higher status and more pay: There is plenty for new partners to know and do, and unfortunately many firms do not have any training for them.

After employee pay and rent, partner deferred compensation retirement benefit plans usually are the third largest expense on a firm’s income statement.

This year all playbooks have to be discarded and a fresh start needs to be developed.

Every firm and many businesses are going through a crisis like none that anyone could foresee, or one that any of us have had to ever navigate before.

Many firms organize a summer retreat that they are now postponing or canceling. Whether they are held or not, I recommend not canceling the preparation process.

Small and midsized firms need to prepare for a world of reduced liquidity and lower organic growth.

For small and midsized CPA firms, one of the most common complaints among both line partners and senior management involves compensation and annual adjustments.