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Thursday, Mar 28, 2024

SPECIAL REPORT: Author Spells It Out on Closely Held Companies

Partner, Rose Snyder & Jacobs LLP, Encino Years at firm: 39 Residence: Sherman Oaks How has accounting changed during your career? Over the years, our business has created the need to be uber compliance oriented and, with increased government oversight, we have to guard our role as business counselors. What is tax time like at your firm? Tax filing compression has increased the challenge to meet deadline demands. In short, we are pretty busy. Technology makes things work smoother, but automation has promoted the opportunity for governments to add complexity to tax returns. What is one tax reform change you would make? The current code is so contorted that the original role of taxes, to fund government services, is sometimes lost. Alternative minimum tax and the net investment income tax have added huge complexity. Simplification would be good. What would you consider your firm’s primary specialty? We are a full service local accounting firm specializing in SEC, audits for not for profits, accounting, assurance and tax services for closely held businesses and all of the above services for high-net families. Who are your typical clients? We have a good size group of closely held manufacturing and distribution, technology and digital-media companies as well as several comprehensive engagements with families of wealth. How did your firm establish its specialty? Working with families of wealth on their tax and other planning initiatives; working with small and medium sized public companies to meet the challenges of their accounting compliance; and assisting large sized not for profit organizations with their accounting and tax compliance needs. Has your firm expanded beyond traditional accounting services? At our size, 50 or so, we have resourced several strategic partners to do things like valuations, sophisticated tax structuring and sophisticated forensic accounting. We stick to our traditional roles, but are educated enough to understand some of these other specialties. Does the firm have additional expansion plans? While always open to opportunities, we think organic growth seems to be our course for now. How do you recruit new partners? Most of our partners are home grown from non- partner hires over the past years. How do you recruit young accountants? We rely on a combination of word of mouth referrals and social media engagement. We seek qualified talent with a “go-get-em” attitude at all times of the year, since we understand it is hard to come by and promoting from within is the norm. What was the worst day of your career? Every time we lose a good accountant that moves out of the city or changes careers, it is a terrible day for me. This happens more than I would like. What was the best day of your career? I suppose it is when, through the relationships we develop with clients, we are told that we have truly impacted their businesses and their lives. Is there something personal your colleagues don’t know about you? Many are not aware that I have authored two (business advice) books. One called “Say Hello to the Elephants,” published in 2008 and “Five Eyes on the Fence,” published in 2014. What career advice do you like to give? First, you never know if the next person you meet will be the one that will change your life. Treat everyone like they will be your future. Second, be mindful of the impacts you make in the people you serve and the people you serve with. We all have tremendous power and we need to use it wisely. – Mark R. Madler

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

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