Contributed by ISCPA Member and
UBS Representative Kevin Bates
When you own a family business and that business makes up the majority of your net worth, it’s natural to want to leave the business in equal shares to your children because that’s the fair thing to do, but fair doesn’t always mean equal. 

Splitting ownership of a family business among siblings creates the possibility of intra-family conflict, and that risk increases significantly if some of the siblings work in the business while others do not. It is common that the “in-business” siblings want to reinvest profits to grow the business while the “out-business” siblings prefer that the profits be distributed to the shareholders, especially if those distributions are an important part of the out business siblings’ lifestyles. 

In addition, the out-business siblings may question (a) how the business compensates the in-business siblings since higher compensation means lower profits and dividends and (b) whether it’s a good time to sell the business to a third party. These inherent conflicts can tear families apart and create massive financial and emotional damage.

I learned so much at the BBB last week. MOST SURPRISING: Idaho has the highest per capita wine consumption in the U.S. - WOW. Really?

If you have any questions about doing business with clients in the Cannabis industry or have a specific craft brew or winery inquiry - email me .

Like I always say, I am not an expert, but I know people who are. So, if you have a question - ASK ME!
~ Laura Lantz, ED
MAP Conference: Management of an Accounting Practice is August 23 in Boise with a working dinner the 22nd and PRE-REGISTRATION is extended until Wednesday, August 7. REGISTER NOW!

Highlights of this conference include:
  • How to Overcome Conflict with Collaboration
  • How to Hire, Train and Retain the Best People
  • Leading CPA Firms Through Change
  • Making Improvements in Processes with Your People

Numerous members have shared with me that MAP continues to be their most valuable conference - it is well worth your time! Register now...

The nomination process to the State Board of Accountancy is a fairly open process.
Our Idaho Society of CPAs suggests members, who are voted on at the annual meeting, as nominees for the positions opening up in September. This year we have two.

The governor's office also accepts and appreciates public nominations.
So, if you are interested, you are welcome and encouraged to apply. Click here for more information and please let me know.

If you aren't interested this year, but would like to be considered for future openings, please let me know, so I can reach out.
Let's Celebrate Before There's No Time (or energy) to Celebrate ! ! !
AUGUST 28th 5-6:30pm
Downtown Boise, N 8th Street at
Let's meet at the North seating area

Interested in helping plan a YCPA networking event in your area?

She needs help!
Need something? Interested in a specific issue or topic? Want to be more involved?
Please let me know.
I'd love to help!

Call me at 208-344-6261 or simply click here to email me.

~ Laura Lantz, ISCPA Executive Director
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The ISCPA MEMBER DISCOUNT PAGE is a fantastic avenue for discounts and savings for Society Members. Check it out!