A Simpler Approach to Keeping Employees

BY DALE SCHWARTZENHAUER

In reading “ Meyners Pays for Performance ” ( JofA , Jul.03, page 41), I felt the firm engaged in overkill in transforming its compensation system.

Our firm has adopted a much simpler approach. It includes a 7% override of gross billable revenue (less $15 per tax return to cover overhead) and 50% of revenue generated from new services created by the CPA and adopted by the firm. This compensation is in addition to the usual complement of salary, overtime and benefits.

We find this system to be revenue-additive for the firm and competitive for the CPAs.

Dale Schwartzenhauer, CPA,
CMA, CFM
Jim Johnson & Co.
Walla Walla, Washington

SPONSORED REPORT

Year-end tax planning and what’s new for 2016

Practitioners need to consider several tax planning opportunities to review with their clients before the end of the year. This report offers strategies for individuals and businesses, as well as recent federal tax law changes affecting this year’s tax returns.

QUIZ

News quiz: IRS warning on cyberattacks and a change in pension rules

Once again, the IRS sounds the alarm about a threat from cyberthieves. See how much you know about this and other recent news with this short quiz.

CHECKLIST

Bolster your data defenses

As you weather the dog days of summer, it’s a good time to make sure your cybersecurity structure can stand up to the heat of external and internal threats. Here are six steps to help shore up your systems.