Succession planning

Oak Street Funding, a First Financial Bank company that specializes in loans to CPAs, said it is doubling the lending limit for customers to support mergers and acquisitions, successions, technology investments and growth-focused initiatives at firms.

Even with no desire to sell or end the business, planning can present a way the owner could exit on their own terms.

Joanne Barry, who has served as CEO and executive director of the NYSSCPA since January 2010, will step down in May 2022.

Revenue from advisory services made up 39% of fees, accounting and auditing fees comprised 35%, and tax services accounted for 26% of revenue.

Jeremy Hauk will assume the role May 1, 2022, succeeding Dave Stende, who will retire after nearly 40 years at the firm and nine years at the helm.

Eric Miles will succeed Chris Schmidt, who will be retiring over the next six months.

The Top Eight Firm's partnership board chose Seth Siegel as the firm’s next CEO, succeeding Brad Preber on Aug. 1, 2022.

Clients need to start planning for a potential sale of their business now.

As CEO of a midsized or small CPA firm, ask yourself this tough question: “Why would someone want to be a partner in this firm?”

Take a look around your own firm to see if an uncomfortable number of senior staff are on the cusp of retirement. Who will replace them?

Most small firm owners who are considering retirement are not familiar with how selling a practice works and how to get started.

Capital gains at death; ounces of prevention; extremely dark money; and other highlights from our favorite tax bloggers.

Biden’s proposal to raise capital gains taxes on investments profits would hit many business owners, not just ultra-wealthy investors.

There are almost as many buyout plans as there are accounting firms.

Is it time to move away from staying independent for as long as you can and pivot to cashing out and merging up before the inevitable enhanced tax rates kick in and your general compliance shop’s worth diminishes?

To delay or not delay; three questions about a digital tax; nonprofits and theft; and other highlights from our favorite tax bloggers.

No one likes to contemplate their own mortality, but John Napolitano of U.S. Wealth Management makes it clear why accountants need to get their business-owner clients thinking about exit planning.

Determining the value of a CPA firm or other business is as much art as science, according to Nainesh Shah and Evan Levine of Complete Advisors LLC.

Managing a practice is a separate business by itself and needs the care and attention you give to the professional services part of your practice.