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Thread: Administrators becoming Partners

  1. #1
    CPAFMA Member
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    Jan 2013
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    POSEYVILLE, IN
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    Administrators becoming Partners

    There was a lot of talk and movement a few years ago for administrators to be able to become partners in practices that they had been with for a long time. I was wandering if that ever passed. If so, is there some way of getting the documentation that states that passing and which states are available for this to happen-specifically Indiana.

    Thank you,
    Heidi Bramlet

  2. #2
    CPAFMA Member Michael Mariano's Avatar
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    Aug 2012
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    Fairfield, NJ
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    Heidi,

    Be aware that there are ways around such things. It is illegal in NY, where we have a presence, so my firm made me a Principal with all the rights of a partner.

  3. #3
    CPAFMA Member
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    Michael,

    Thank you for responding. I will look into this further.

  4. #4
    CPAFMA Member
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    Feb 2015
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    I will become partner in January and I am the HR Director. My new role will be Partner/COO. Below is a link to the AICPA provisions.I would ask them about the meaning of ownership. If you are a non-equity partner are you really an owner?

    https://www.aicpa.org/Advocacy/State..._Ownership.pdf

  5. #5
    CPAFMA Member
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    Debbie,

    Thank you so much for the information and the link. Have a great day.

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