The Importance of Communicating with your CPA Practice Seller (Part II)
Here are some additional questions to ask the owner of the CPA practice you are considering: How much time is required to put into running the practice? We know that running an accounting practice is a full time job but it is still important to ask how many hours a week are typically needed to […]
The Importance of Communicating with your CPA Practice Seller (Part I)
Buying a CPA practice is a major step and not one that should be taken lightly. When acquiring a business, you need to be sure it is the right fit for you, otherwise there will be a lot of headaches down the road. When finding the accounting practice you want to buy, due diligence is […]
Contract Issues when Buying an Accounting or CPA Practice
There are a number of contractual points that one should expect to encounter when negotiating a purchase agreement of an accounting practice or CPA practice. These may or may not be difficult to negotiate, but one should understand some of the key issues before starting the process. There are 5 topics that will come up […]
There’s Never Been a Better Time to Own a CPA Practice
With the current state of politics in the U.S. today, it looks highly unlikely that simplification of the tax code is going to happen any time soon. In fact, if anything, things are going to get more complicated as implementation of the Affordable Care Act (otherwise known as Obamacare) continues. Businesses of all sizes will […]
Buying a Tax Practice the Right Way
The way in which a buyer approaches the purchase of tax or accounting practices can make all the difference in their financial investment. In honor of the end of the primary tax season for tax professionals, it is fitting to discuss the five ways this responsibility can shape the financial success of an acquisition. 1) […]
Buying a Seasonal Tax Practice
April 15th marks the end of the primary tax season for most tax professionals. Some firms have worked hard to balance out tax season with monthly compilation, bookkeeping work, and other ancillary services. Others push extensions to balance out the work completed through the year. Even so, many of the tax practices that exist are […]
Financing the Purchase of an Accounting or CPA Practice
Many CPAs and accountants ask me if there are financing packages available to purchase a new CPA firm. There are multiple ways to finance the purchase of a CPA practice but the two most common are Seller Carry and SBA (Small Business Administration) financing. Below, I will describe each method. Seller Carry In a seller […]
