How to Utilize Opportunity Zones in 2025
Have you ever heard of Opportunity Zones? Established as part of the Tax Cuts and Jobs Act of 2017, the Opportunity Zone program was created to spur investment in economically distressed communities by offering investors significant tax incentives. In essence, they’re a government-backed way to encourage you to reinvest capital gains into designated areas in […]
Can Your Estate Pay Its Bills? Why Liquidity Matters
As a CPA practice owner, you know numbers—but have you run the numbers on your own estate liquidity? A lack of liquid assets could leave your heirs and executor scrambling to cover estate taxes, business expenses, and probate costs. Without careful planning, the IRS and creditors may get paid before your loved ones do. That’s […]
Strategic Exit Planning for CPA Practice Owners: Maximizing Practice Value
As a CPA, you’ve probably seen your share of business transitions – some smooth, some… not so much. But when it comes to planning your own practice exit, the stakes feel different, don’t they? Unlike selling a retail store or manufacturing business, your practice’s value isn’t sitting on shelves or spinning on factory floors. It’s […]
How to Save in Taxes When Selling Your Practice via QSBS Exclusions
CPA firm owners know the drill: when you sell your practice, you’re looking at a tax bill. But there’s a special provision in the tax code that could change your entire exit strategy: Qualified Small Business Stock (QSBS). Here’s how it works: If you structure your practice as a C corporation and meet certain requirements, […]
7 Accounts CPAs Need for Retirement
Over your career, you’ve probably accumulated quite a collection of financial accounts – maybe more than you’d like to keep track of, and as retirement approaches, there’s a natural desire to simplify and consolidate. That makes sense! However, while over-complexity isn’t good, neither is over-simplifying. But when it comes to building a robust retirement framework, […]
2025 Retirement Plan Updates: New Opportunities for CPA Practice Owners
New year, new financial landscape. As we step into 2025, CPA practice owners are facing a mixed bag of changes that could reshape their retirement strategies. While the IRS opens up some generous new contribution opportunities, they’re also tightening the belt on high earners through Social Security adjustments. Let’s unpack what these changes mean for […]
Estate Planning Strategies for CPAs in 2025
Estate Planning Strategies for CPAs in 2025 2025 brings in big news for estate planning, particularly relevant for CPA firm owners who may need to consider both personal assets and their practice’s value in their planning. Since 2018, we’ve enjoyed generous estate tax exemptions, and they were set to expire at the end of next […]
How CPA Owners Can Leverage CRTs and CLTs
If you’re a CPA practice owner and a regular reader of our blog, you’ve likely considered long-term tax planning—especially with the upcoming expiration of the Tax Cuts and Jobs Act (TCJA) in 2026. Reduced lifetime exemption limits could mean a larger share of your wealth ends up with the IRS if you don’t plan ahead. […]
Is Your CPA Practice Ready for Financial Emergencies?
In our last article, we discussed how much cash reserves you should keep as an individual investor and retirement planner. However, if you possess your own CPA practice, you’ll also want to consider how much cash your business should keep in reserves. In fact, failing to keep sufficient cash on hand can mean the difference […]
Are You Holding Enough Cash Reserves?
If you’re focused on building as much wealth as possible, it can be tempting to stay fully invested, especially when the stock market has historically offered such strong long-term returns and you begin to experience compound gains. However, staying completely invested is risky, and can potentially lead to significant damage to your portfolio, which is […]
