Small Firm and Sole Practitioner Collaboration a Success
Kathleen Hoffelder, NJCPA Senior Content Editor –
April 8, 2026
As part of an initiative to address the needs and challenges of small firms and sole practitioners, the NJCPA hosted three roundtables in the fall. Everything from hiring interns and retaining staff to software upgrades and finding successors was open for discussion among the 65 attendees.
Aiysha (AJ) Johnson, MA, IOM, CEO and executive director of the NJCPA, one of the hosts of the meetings, noted that the Society provided these important forums so that small firms and sole practitioners could make their voices heard. “As we build a strong community of CPAs and accounting and finance professionals, we encourage open lines of communication and look forward to enhanced ways to serve their unique needs,” said Johnson.
“This is going to be a great think tank to share ideas back and forth,” said John Szczomak, CPA, member of the firm at Smolin, Lupin & Co., LLC and president of the NJCPA. “Everyone is faced with these similar issues, just on different levels.”
Prepping for Retirement
Succession and continuity planning were top of mind for attendees, who are struggling collectively with what to do when an owner is close to retirement. They realized there is not always a target buyer looking for their specific size firm, which puts more emphasis on the need for those firms to prep and plan if they are considering that option.
Whether preparing for a merger or sale, packaging it in the right way is important. “We may need to merge some of the small firms to package them to get ready to be sold,” said one small firm owner in attendance. Peer networking and developing practical ways to make a firm more appealing to other buyers were discussed.
As attendees noted, many have already put together formal agreements or arrangements with people they know, family or other colleagues in the industry to future-proof their business upon retiring or a stoppage of work. Some have also made informal connections with peers in that situation, but others have not even considered their next phase.
Obtaining/Sharing Resources
Not having the staff or the resources that the larger firms have is a huge challenge for small firms, particularly regarding regulations, such as adhering to the American Institute of CPAs’ (AICPA) new quality management standards, and during the busy tax season, for example. Collaboration among firms can help head off any unwanted challenges, attendees noted.
Managing resources effectively to grow advisory niches and expand into outsourced CFO services was also cited.
Staffing and Talent Retention
With small firms/sole practitioners typically competing on value and reputation, as compared to prices, strategies to be attractive to future hires take on an even higher significance.
Don Meyer, CAE, chief growth officer at the NJCPA, reminded attendees that speaking at college campuses is an important step in getting a firm’s name out there. “We encourage students to apply for internships at smaller firms. If we know a small practitioner, we will try to make that connection,” he said.
Building relationships at the small-firm/sole-practitioner level and knowing what resources are available at the NJCPA and elsewhere was a key focus of the meetings, added June M. Toth, CPA, CFF, CITP, CGMA, principal at WilkinGuttenplan, a discussion leader and past president of the NJCPA. “Having that referral network to get students who are looking for internships have more exposure to small firms is a priority along with other ways we can bridge those gaps together,” she said.
Matching up college students looking for internships with firms looking for incremental staff during college breaks would be a win-win situation. As Toth noted, one of her mentees originally wanted a larger firm but realized he is more comfortable in a small-firm environment and building personal relationships. She also elaborated on the need for smaller firms to coordinate with larger firms for interns who may be more suited there and to consider mentoring students through the NJCPA’s scholarship program, where all award recipients receive a mentor.
With clients also looking to sell businesses, the small firm CPA or sole practitioner’s time is strained, according to one attendee. “Many clients are looking to sell their business which requires a lot more of my time while keeping up with my standard work,” she said. The demands from too much regulation for her clients have also been challenging with few staff.
Technology and Efficiency Tools
Balancing modernization amid keeping costs down was a goal for many attendees as was learning about workflow tools for efficiency and how to stay compliant with a Written Information Security Plan (WISP) to protect client data.
Data protection and using artificial intelligence (AI) responsibly and according to best practices would help. Attendees were interested in choosing the right technology stack and in exploring AI tools for tax preparation.
Maintaining a practitioner’s current IT systems while putting in cybersecurity protections was discussed as well as the most efficient combination of software for tax practices.
NJCPA Resources
- Online community: A new Sole Practitioner & Small Firm Forum has been added to Connect (connect.njcpa.org), the NJCPA’s online community platform, enabling members to communicate with their peers on staffing strategies, succession planning, technology tools and other practice management issues. NJCPA members who are sole practitioners or partners at small firms are automatically added to the community.
- Finding interns: The NJCPA is creating a directory of internship opportunities at firms. To have your firm included, visit njcpa.org/internships. You can also get involved at your local college by participating in the NJCPA’s on-campus presentations. Interact directly with accounting students who may be interested in interning with you. Learn more at njcpa.org/volunteer.
- Partner resources: Visit njcpa.org/marketplace to find companies that have partnered with the NJCPA to provide services to members including technology, insurance, payroll and more.
All small firm/sole practitioner members are encouraged to reach out to NJCPA staff to leverage the many opportunities already available and collaborate over new initiatives. Email membership@njcpa.org or call 973-226-4494.
