Preparing to Buy a CPA Practice
There are a number of steps to consider before buying a CPA or Accounting Practice. It is very hard to purchase a CPA or Accounting practice in a metro area. Some things to consider: demand is strong, there are always multiple buyers, and usually, there are multiple offers on these practices. So, how do you […]
The Importance of Billing Rate in Accounting Practice Acquisition
Billing rates discussion during a practice acquisition is a common topic. If the billing rate of the buyer is materially different from the seller’s rate, the buyer has to make some decisions. Should he raise his rates existing rates to match that of the seller? Should he lower the seller’s rates when they bring on […]
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 […]
