marc rosenberg, author at 卡塔尔世界杯常规比赛时间 - page 85 of 116

clawback and how to handle it

five-year adjustments may ease partners’ minds.

by marc rosenberg
retirements & buyouts

some firms struggle to agree on the details of a partner retirement plan.

more on retirement: can partners compete after they leave? | disability is far more complex than death | how to juggle tax considerations for partner retirement benefits | mandatory retirement? 4 reasons the firm comes first | you want goodwill payments? give proper retirement notice | vesting can cover part-timers, too | why you’ll get less from your partners in a buyout than you might by selling the whole firm | the multiple of compensation method, fully explained

one of the biggest items of contention is the valuation of their goodwill for internal retirement purposes. in these cases, the partners are anxious about obligating themselves to pay huge buyout benefits.

outlook & analysis

can partners compete after they leave? maybe.

bonus: sample non-solicitation agreement.

by marc rosenberg
retirements & buyouts

a non-compete covenant prohibits departed partners from joining another cpa firm or creating their own firm within a radius of a specified number of miles from the firm, within a specified period of time after their departure.

increasingly, firms are writing and enforcing tougher and tighter non-compete clauses.

one of the key tests that courts have used in ruling on the enforceability of non-compete agreements (different from non-solicitation) is the extent to which such agreements prevent the departing partner from earning a living.

more on retirement: disability is far more complex than death | 6 ways to leave a cpa firm (retirement’s just 1) | how to juggle tax considerations for partner retirement benefits | mandatory retirement? 4 reasons the firm comes first | how to transition clients from retiring partners | retirement plan funding? what funding? | when retiring partners take a specialty with them | clients leaving? time to reduce retirement benefits | partners may balk at guaranteeing retirement obligations

the vast majority of u.s firms are local practices located in areas with many competing firms. if a partner leaves to join another firm and does not attempt to take clients, it is very difficult to claim that the departing partner will substantially and irreparably damage the interests and the value of the firm.

pay & compensation

partner disability: worse than death?

the willingness to return to work may outstrip ability – then what?

by marc rosenberg
retirements & buyouts

you’ve probably heard the saying “disability is worse than death.” the point is that both death and disability are horrendous, catastrophic events.

more on buyouts: even partner agreements must face death | 6 ways to leave a cpa firm (retirement’s just 1) | how to juggle tax considerations for partner retirement benefits | two ways to retire, and one’s not pretty | mandatory retirement varies by firm size | mandatory retirement? 4 reasons the firm comes first | how to transition clients from retiring partners | you want goodwill payments? give proper retirement notice | retirement plan funding? what funding? | retirement vesting: the devil’s in the details | compromise is in order for some goodwill payouts

but the handling of issues related to death – for all parties concerned – are more straightforward, both personally and financially, than in the case of a disability. read more →

outlook & analysis

even partner agreements must face death

5 life insurance questions you should consider.

by marc rosenberg
retirements & buyouts

issues related to the death of a partner should be addressed in the firm’s partner agreement. consider the following:

does the firm wish to accelerate vesting in any manner? does the firm wish to accelerate the payment frequency, vesting or both? partners are often tempted to be generous out of sympathy for the deceased partner’s family. what stops them from acting on this generosity impulse is the cold reality of how expensive this is. as a result, most firms treat death the same as an ordinary retirement.
what must be done to assign the deceased partner’s clients to other firm members and to retain the clients?
to what extent does the firm want to purchase life insurance on the lives of some or all of the partners? if they opt to purchase the insurance:

more on retirement: 6 ways to leave a cpa firm (retirement’s just 1) | how to juggle tax considerations for partner retirement benefits | two ways to retire, and one’s not pretty | mandatory retirement? 4 reasons the firm comes first | how to transition clients from retiring partners | retirement vesting: the devil’s in the details | eat what you kill? then maybe ‘book of business’ is for you

outlook & analysis

6 ways to leave a cpa firm (retirement’s just 1)

goodwill depends on the method of departure.

by marc rosenberg
retirements & buyouts

in the literal sense, retirement is only one of six ways that partners may separate from their firm.

more on retirement: how to juggle tax considerations for partner retirement benefits | how to transition clients from retiring partners | you want goodwill payments? give proper retirement notice | retirement vesting: the devil’s in the details | compromise is in order for some goodwill payouts | three ways to calculate goodwill payable in partner buyouts, none of them great | 5 points to consider when paying out goodwill | how to set terms and limits for goodwill payouts | 4 ways to decide how to pay out capital | partners may balk at guaranteeing retirement obligations

benefits to partners are handled differently depending on which of the six ways they leave:
read more →

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