Barriers to Successful Client Transition

Client transition is a hallmark of a healthy and growing firm. The ability to transition clients well will impact the longevity of your firm, buyouts from retiring partners and successor interest. Because of this, it should come as no surprise that many CPAs/partners in the profession are concerned about how to prepare for successful client transitions. For client transition to thrive, there must be cooperation and a mutually shared objective between the passer (the one transitioning the client) and the receiver (the one inheriting the client).

Tax Tips for Deducting Gifts to Charity

The holiday season often prompts people to give money or property to charity. If you plan to give and want to claim a tax deduction, there are a few tips you should know before you give. For instance, you must itemize your deductions. Here are six more tips that you should keep in mind:

Key Conversations that Retain Employees

Employee retention is something every accounting firm faces, and is critical to firms that are focused on succession. While every person in a CPA firm may not be partner material, they all play a role in the firm’s long-term success. No matter what, talent retention should be top of mind for every firm.

IRS Announces Relief to Hurricane Harvey & Irma Victims

The Internal Revenue Service announced that 401(k)s and similar employer-sponsored retirement plans can make loans and hardship distributions to victims of Hurricane Irma and members of their families. This is similar to relief provided last month to victims of Hurricane Harvey.

Get the Best from Your Staff

Great performance is worth its weight in gold. We discuss performance management at all levels with our member firms on a regular basis and as we work through these issues, we often find there are four common areas of concern.