Posts by Marc Rosenberg, CPA
Do lower income taxes help or hurt the economy? Is it better to be liberal or conservative? Should we worry about gas mileage when buying a car? Does AI pose a risk to civilization? Nature or nurture? Which way should toilet paper hang? These issues are endlessly debated and have no “answer.” Let’s add another…
“If I had an hour to solve a problem…I would spend the first 55 minutes determining the proper question to ask, for once I know the proper question, I could solve the problem in less than five minutes.” –Albert Einstein Though it may appear that this blog is intended for college students or your young…
Allocating partner income used to be a science. Now it is a fine art. Not too long ago, the majority of firms allocated income with some combination of a formula (eat what you kill), ownership percentage, and seniority. Few compensation systems recognized subjective factors such as developing staff; firm management; teamwork; achieving formal, written goals;…
We know all too well that the #1 challenge in the CPA profession is finding and retaining people. Drilling down, the interrelated issues are: The declining number of accountants High school and college students’ reduced interest in accounting majors Partners being too busy to mentor staff and focus on this The challenge that firms have…
One of my favorite words is “apocryphal.” An apocryphal statement is one that probably didn’t happen, but it’s so believable that it’s wildly believed to be true. Here’s one of my favorite examples. Clark Clifford was a super-lawyer and a cabinet-level advisor to four presidents in the 20th century. Fortune 500 companies pleaded with him…
Don recently passed away peacefully at his home at the age of 88. Who was Don Scholl? I’m glad you asked. He was not a CPA but knew our business better than most CPAs. He was one of the first consultants to understand that CPA firms should be managed like a real business instead…
To non-sports people, forgive me for telling a sports story I heard on a radio program. Our local basketball team, the Chicago Bulls, have a player named Zach Levine, who has been an all-star and is in the prime of his career. But he missed a month due to injury. Prior to his injury, the Bulls…
QUESTION FROM A READER We didn’t contemplate an owner leaving before normal retirement age unless it was due to death or disability or we had to fire them. However, as we were discussing hypotheticals at a recent partner meeting, we came to the uncomfortable conclusion that, currently, there’s nothing to stop owners from accumulating large…
March 1, 2024, marks the 30th anniversary of Rosenberg Associates, consultants to CPA firms in North America. Thirty years have gone by so quickly, and it’s been an incredible journey! After merging with Kristen Rampe’s consulting firm, I went from being a “one-man show” to being part of a growing, thriving (and younger!) nine-person organization….
Recently, the Virtual Roundtable Group (VRT), a managing partner group founded by Art Kuesel and Marc Rosenberg, convened an in-person meeting in Austin, TX, to exchange ideas about CPA firm best practices. Kristen Rampe of Rosenberg Associates expertly led the group discussions. The firms ranged in size from $10M to $30M and were located from…
Marc Rosenberg, CPA
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