Today's Features
PRO Member Exclusive

Opportunity Zones Extended and Expanded Under OBBB

Extended beyond 2026, OZ 2.0 opens the door to rural investment boosts, increased bonus depreciation, and a decade of fresh development opportunities.

By Blake Christian
HCVT LLP

Eight years after being introduced as part of the 2017 Tax Cut & Jobs Act, the federal Opportunity Zone (OZ) program has already made a measurable impact on underserved areas of all 50 states. With the recent passage of President Trump’s One Big Beautiful Bill (OBBB), the OZ program has been officially extended beyond its original sunset date of Dec. 31, 2026. It is now poised to shift that impact into high gear.

MORE Opportunity Zone
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If you’re not highly familiar with the OZ program, here is a brief primer:

The OZ Program has always been bipartisan (conceived by President Obama and first enacted by President Trump). It is further unique in that it presents a rare opportunity to align wealth-building strategies with low-income economic impact. This allows investors to diversify (profitably) into real estate and operating businesses while participating in the revitalization of communities that need it most.
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PRO Member Exclusive

Why Firm Governance and Economics Matter

Three critical components of success.

By Domenick J. Esposito
8 Steps to Great

“Growth is never by mere chance; it is the result of forces working together.” – James Cash Penney, founder, JCPenney

Your firm is a business and the vehicle for generating wealth for you and your partners. You need to operate it with strict governance processes, a system of accountability and a firm economic foundation.

MORE by Domenick J. Esposito
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Balance sheets, usually funded by partner capital and a line of credit for seasonal working capital needs, need to be strong to protect your CPA firm from the loss of a senior partner, loss of a marquee client or just an overall poor economy that results in tepid growth for clients and therefore a reduced appetite for professional services.
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GROWTH STRATEGIES

It’s Never Too Early to Plan Your Exit Strategy

businessman thinking with hand on his chin

Consider the legacy you’re leaving.

By Jackie Meyer

Building a successful advisory practice is a significant achievement. But have you considered what happens next once you’ve reached your current goals? It’s easy to get caught up in the day-to-day operations and growth of your firm without thinking long-term. However, true freedom and peace of mind come from knowing you have a plan for the future of your business and the impact you’ll leave behind.

MORE: Beyond Blocking: More Time Management Strategies | Reclaim Your Hours with Time Management and Productivity Hacks | Hiring Strategies for Your Dream Team | Streamline Your Operations with Systems and Processes | From Compliance to Advisory: Shifting the Value Proposition | Build a Seven-Figure Firm in Four Hours a Week
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This article delves into the critical topics of exit strategy and legacy. We’ll explore why it’s essential to plan for the future even in the early stages of building your firm, discuss various options for eventually selling or transitioning your business, and get you thinking deeply about the legacy you want to create. Planning your exit isn’t about wanting to quit – it’s about building a business that’s a valuable asset and ensuring your hard work carries on according to your wishes.
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ADVISORY & CONSULTING

How to Conduct a Proper Discovery Meeting

Credit: Adobe

 

What are your clients’ dreams? How do you know?

By Rory Henry
The Holistic Guide to Wealth Management

A client discovery meeting, or even better, a rediscovery meeting, can be an ideal opportunity for you to deepen your relationship with the client. Even better, when done correctly, the meeting can lead to self-discovery for the client.

MORE: Understand Clients’ Relationship with Money | From Services to Experiences to Transformations | How Behavioral Finance Works | Manage Change through A PACT | Priority No. 1: Your Mental and Physical Health | Build Stronger Financial Futures with Health Care Planning | Marketing Strategies for Wealth Management Services | Trust Is the Primary Ingredient | Use Goodwill to Maximize Exit Readiness | An Accountant’s Role in Exit Planning | How to Prepare Your Clients’ Kids for Their Inheritance | A Question of Trust: Not Just for the Wealthy
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Historically, clients turn to financial professionals for help solving a financial problem or for alleviating financial concerns. They ask questions such as:

  • “What type of entity should I select and what are the tax implications?”
  • “How do I increase my gross margins?”

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