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).
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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:
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.
The Internal Revenue Service offers to help hurricane victims. Below is a rundown of key tax relief that has been made available to victims of Hurricanes Harvey, Irma and Maria.
Equifax, one of the United States’ three major consumer credit reporting agencies, recently reported a breach that compromised the personal information of approximately 143 million Americans. The nature of this breach is particularly alarming because many consumers may not even know they are customers of the company
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.
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.
Often overlooked, job descriptions play an important role in attracting the right candidates. A mediocre job description will send the wrong message and attract the wrong candidate. We work closely with our member firms to help them enhance their recruiting … Continued
Many parents send their children to summer day camps while they work or look for work. The IRS urges those who do to save their paperwork for the Child and Dependent Care Tax Credit. Eligible taxpayers may be able claim … Continued
Summertime is a time of year when people rent out their property. In addition to the standard clean up and maintenance, owners need to be aware of the tax implications of residential and vacation home rentals. Receiving money for the … Continued