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TSCPA News

Important Notice Regarding Proposed Bylaw Changes
July 14, 2017
At its meeting on June 30, 2017, the TSCPA Board of Directors approved a proposal to make certain changes to the TSCPA Bylaws. In accordance with Article XV of the bylaws, this will serve as the official 30-day notice that a member ballot on the amendments will be sent on Aug. 14, 2017. This ballot will be conducted through a secured electronic ballot process and will be open for all fellow members of TSCPA to vote for a period of no less than 30 days. The bylaw changes must be approved by two-thirds of the members voting in order to be adopted.

Please be on the lookout for the ballot and a more detailed explanation on the amendments in August and cast your vote.


Annual Meeting Recap
July 7, 2017

TSCPA’s Annual Meeting of Members was held in Colorado Springs on June 30 - July 1. If you weren’t able to attend, you can read TSCPA Chairman Jim Oliver’s presentation, review the report on the past year’s accomplishments and awards, learn plans for the upcoming months, and much more. Get more details.

Public Practice

Part III – Multi-Owner Firms
By Bill Reeb, CPA

In part 3 of this article series, Bill Reeb continues to summarize selected results of the Private Companies Practice Session (PCPS) and Succession Institute (SI) 2016 Succession Planning Survey.

This is the fourth such survey conducted since 2004. In part 1 of this article series, Reeb covered results for solo practitioners and sole proprietors. Part 2 included a discussion of demographics, succession plan status, ownership retirement projections and firm infrastructure.

He picks up in this article, part 3, sharing tables and commentary summarizing the results and conclusions starting with mandatory retirement and continuing through the original valuation of the retirement benefit.

He explains the importance of establishing policies that clearly define the possible roles, pay, accountability and calculated benefits for retired partners. He believes the best time to put policies in place clarifying the acceptable responsibilities and compensation for retired partners is before the partners are on the verge of retirement. Read more.