After tax season, many CPA firms turn their attention to scheduling annual planning retreats. If you're not one of them then I encourage you to become one; planning retreats are a critical part of firm management and strategy. It is the process where your leadership group establishes the road map for the firm for the next year and beyond.

As we look at tax season in the rearview mirror, it's time to think about strategic planning for our firms. Most CPAs are very effective and accomplished in the planning process. We invest the time and money in a retreat, we focus on the future, get lots of ideas on the table, agree on objectives and goals for the next year, commit to an action plan and sincerely want to move the firm forward.

There are 76 million Baby Boomers in the United States, defined as those of us
born between 1946 and 1964. Accounting firms across the country are full of
Boomers with 61 percent of all partners now over the age of 50, all marching toward
retirement.