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Personal Development

Leadership Development Institute Accepting Applications
TSCPA’s LDI program was developed to help identify and prepare future leaders for the accounting profession. Is there a rising star in your organization who could benefit from attending LDI in 2017? Or perhaps you’re looking to enhance your personal career development. Attendees will earn at least 15 hours of CPE over three days in Dallas in May. Limited spaces are available, and registrations are requested by March 24. Questions can be directed to Andy Edwards (800-428-0272, ext. 694). Get more details


Taxes

Guide to Bond Premium & Market Discount
By Corey Junk, Carol Warley, and Stefan Gottschalk, RSM US LLP | March 2017

For taxpayers who purchase bonds or other debt instruments (“Bonds”), the Tax Code may require adjustments to ordinary interest income. This guide addresses two types of adjustments – bond premium and market discount.

Where they apply, the bond premium and market discount rules affect the characterization of Bond holders’ income as capital or ordinary, as well as the timing of certain ordinary interest income. Both the bond premium and market discount rules generally affect the amount of gain or loss and ordinary income recognized upon sale or disposition of a Bond. Bond premium adjustments to interest income may also apply while the taxpayer holds a Bond. Get the Guide (.PDF)


CPA Firm Management

2016 Succession Planning Survey Results - Part I Solo Practitioners
By Bill Reeb, CPA-Austin

This article is the first in a series that will discuss selected results of the Private Companies Practice Session (PCPS) and Succession Institute (SI) 2016 Succession Planning Survey. The tables and commentary in the article summarize the results and conclusions reached by analyzing the responses of solo practitioners and sole proprietors on topics ranging from practice continuation agreements to sale or merger of their practices.

This year’s survey generated interesting comparisons with past results and respondents represented a great deal of diversity. Solo practitioners and sole proprietors indicated they are planning on retiring at ages older than the owner mandatory retirement ages we find in multi-owner firms. In addition, there is a wide gap between what solo owners expect to receive for their practices and what the market is currently doing. The survey provided information to enhance the understanding of the status of succession planning at this time within the CPA profession. Read Reeb's commentary.