three big issues must be decided.
by marc rosenberg
how to bring in new partners
one of the benefits that new partners receive in exchange for their buy-in is that they will receive a buyout when they retire. this amount can be in excess of a million dollars at many firms. receiving a retirement buyout is one of the major reasons becoming a partner is so lucrative.
more: 11 best practices for partner compensation | fifteen steps to new partner buy-in | what buying in actually means | why buying into a firm is such a great investment | four philosophies for managing a cpa firm | how partner and staff actions impact profits | the business side of cpa firms
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the flip side of this is that new partners must agree to buy out older partners when their day comes. therefore, any plan for bringing in new partners must include a provision for a partner retirement/buyout plan.
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