Retirement
Checklists
The Montana Society of CPAs recognizes the baby boomer generation is retiring in large numbers. To help ease the transition, our members came up with a few checklists to help get you and your employer ready for retirement.
FIRM
For CPAs retiring from a firm.
BING
For CPAs retiring from business, industry, non-profit, or government entity
SELLING
For CPAs looking to sell their firm and retire.
News
Ready to retire? Consider a partner buy-in
September 20, 2022
As more baby boomers retire, more professional CPAs are needed to take over firm leadership nationwide. By 2030, all baby boomers will be over 65. It's been dubbed the Great Retirement and the Silver Tsunami, and it gives up-and-coming CPAs an opportunity for new partners to buy into existing firms. But how?
Art of Accounting: Terminating your practice
September 13, 2022
Practices are terminated regularly. Some are sold in their entirety, some piecemeal, some are merged, some abandoned and some "stolen." No one can stay in their practice forever, although some accountants think that is the case and make no arrangements whatsoever while others plan with as much detail as they can think of. Here are some alternatives.
Art of Accounting: Selling a practice and still running it
September 06, 2022
Usually when a practice is sold, the seller sticks around long enough to introduce the buyer to the clients and assures the client they will be available if any problems develop or to field calls when necessary.
What’s after that?
July 29, 2022
The last of the baby boomers will reach retirement age in 2030. (When — and whether — they will actually retire is a different question entirely, particularly in the accounting profession, but for now, let’s focus on that cutoff.) That’s eight years away, so it may seem like it’s not worth worrying about, but given that the accelerated rate at which boomers retired over 2020 may well have played a big role in the Great Resignation, it’s worth thinking about the potential implications.