One day, you won’t want to work anymore, at least not at your current firm. How do you pass on your firm for the best chances of success for everyone?
That day when you step out the door for the last time may still seem far off, but when it comes – and it will – you’ll be thankful for an orderly departure. That many accounting firms never make it to a second generation indicates that a lot goes into successful succession plans: impressions of senior staff; the bottom line on your firm’s value and future; and, trickiest of all, just admitting that you need a succession plan.
Hammer out details beforehand, especially if you, rather than merging your firm into another or selling your firm, want to groom your firm’s next leaders from within.
How and when to start?
Tax Tips for Families Affected by Disability: What More People Should Know
Peter J Reilly CPA
There are a few tax tips for people with disabilities that I think are not as well-known as they should be. They can also be applicable to their parents or others who care about them. This is not meant to be a comprehensive treatment of all aspects of how taxation and disability interact. Rather it is to alert you to some things I think should be more widely known. One thing to keep in mind is that some of the parents and grandparents of disabled adults don’t necessarily share this part of their personal life, so you may be surprised at how this information might be valuable and appreciated by some of your clients.
