Bylaws Measure Passes with 95 Percent Approval
The TSCPA member ballot for proposed bylaws changes closed on Thursday, Sept. 14 with a 95 percent approval for the changes. Thank you to our members who took time to participate in this important bylaws vote. Click here for an overview of the changes that will be incorporated in our bylaws.
Articles of Interest
Analysis of Survey Results on CPA Firm Succession Planning
This article is part 4 of the series summarizing selected results of the Private Companies Practice Session (PCPS) and Succession Institute (SI) 2016 Succession Planning Survey.
In part 1 of the series, Bill Reeb, CPA-Austin, covered results for solo practitioners and sole proprietors, while part 2 included a discussion of demographics, succession plan status, ownership retirement projections and firm infrastructure.
In part 3, he shared tables and commentary summarizing the results and conclusions starting with mandatory retirement and continuing through the original valuation of the retirement benefit.
In this article, Part 4, he shares tables and commentary summarizing the results and conclusions reviewing how firms might adjust the original valuation benefit based on actions or inactions of the retiring partner. The survey results are revealing how the accounting profession is responding to the changes and compensation issues being brought about as members of the baby boom generation are beginning to retire and leave their firms.
Read Reeb's commentary.
CPAs Discover New Opportunities in Tax Resolution Services
As some bedrock tax preparation work is becoming increasingly commoditized and pressured by automation, savvy CPA firms will begin offering other services to replace that revenue stream. A mix of services that has been shunned by many CPAs in the past is starting to take hold: Tax resolution assistance. With the size of the opportunity in tax representation, many tax-oriented CPAs are beginning to jump on board.
Rick Telberg takes a closer look.