plus seven things that partners are entitled to … and 12 that they’re not.
by marc rosenberg
how to bring in new partners
there are a number of realities that go along with being a partner in an accounting firm.
you’re an owner. as such, you get paid based on the firm’s earnings, not as an employee.
more: seventeen basic expectations of partners | the four essentials for every new partner | five people to keep out of partnership | nine ways to woo a prospective partner | tell potential partners what it takes
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you pay for your ownership. new owners in any business must pay money to acquire their ownership. at cpa firms, this is called a new partner buy-in. because cpa firms have a substantial street value, it’s reasonable that new partners should be required to purchase their interest in the firm.
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