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 […]
Safeguarding Your CPA Partnership with a Buy-Sell Agreement
With over 4.4 million partnerships in the U.S. alone (and $3.9 trillion in income passed through to partners in 2021), it’s clear that a multitude of businesses have plenty on the line when it comes to their inevitable transitions and dissolutions, including CPA firms like your own. In our last article, we showcased how key-person […]
The HSA vs the HRA: Which is Best for Your CPA Practice?
Health insurance is a big deal. About 50% of employees say that health insurance is the main reason they stick around at their job, and 45% say it’s a top factor when deciding whether to take a job in the first place. If that’s not enough, there’s also a pretty solid financial incentive for business owners […]
Optimizing Your CPA Practice’s Benefits Before Year-End
As a CPA, you’ve mastered the specific accounting or tax challenges within your niche practice. Whether you’re deep in tax compliance, audit, or forensic accounting, it’s easy to focus solely on helping others while overlooking your own financial situation. With the year-end fast approaching, now’s the time to step back and take a closer look […]
Custodial Roth IRAs: A CPA’s Guide to Family Financial Planning
We all want our kids to grow up with strong financial habits, a solid work ethic, and the confidence to make smart financial decisions as adults. In a previous article, we talked about how to lay the groundwork for financial success early on—using strategies like allowance systems, budgeting, and even basic investing principles. Now, let’s […]
