Since each CPA practice is unique, it’s crucial to take the time to correctly value a CPA practice. All too often, a CPA devotes decades of work to his or her company, then offers the practice for sale for much less than it’s worth. Since the accounting practice is probably their largest asset, retiring CPAs […]
It is just after tax season, that annual lull in activity before more deadlines are hanging over your head just around the corner. You might be saying to yourself, “I need to spend more quality time with the grandkids and do some fishing up country. I’m more than ready!” But are you really? There is […]
Making a deal for a CPA practice for sale always carries inherent risk. If you are reading this, you are more than likely an accountant. Therefore, it is in your DNA to do what is necessary to at least minimize, if not altogether avoid, risk. Unfortunately, when it comes to selling an accounting firm, many […]
You made the decision to sell your CPA firm and now you’ve found a promising prospective buyer. Hopefully, you have already required the buyer to sign a nondisclosure agreement. As a knowledgeable professional, you understand any buyer will need to perform their due diligence on your firm. But when it’s actually happening, it can sometimes […]
Buyers looking to acquire a CPA practice for sale have already done the deep analysis and concluded that to receive financing, efficiently achieve their profit goals, and create the level of earnings to support their desired lifestyle, buying an already established firm is the smart move. Assuming the accounting practice for sale is on solid […]
Make no mistake. The buyer due diligence process in accounting firm sales is an inspection to corroborate the material aspects asserted by the seller of a CPA practice in the comprehensive financial information provided by the seller to the buyer. Due diligence is also typically performed related to certain information provided by the buyer to […]
The first day after selling your CPA firm will probably be very odd. You wake up and get ready to go into the office just like every day for the last 20-plus years. Suddenly you remember: You sold your practice! Life as you know it is radically shifting. Your future is suddenly unknown, which can […]
After spending many years diligently building your CPA firm, you have decided it is time to close this phase of your life and pursue your dreams. You may wonder how much time it will take to sell your practice. Even if you take the wise step of hiring a specialty business broker, some phases in […]
When buying a CPA firm, many people turn to lending programs backed by the Small Business Administration (SBA). When compared to many conventional lending programs, SBA-backed loans offer flexibility, longer terms, and potentially lower down payments. Many buyers of CPA practices can take advantage of the SBA’s most popular loan program, the SBA 7(a). Preferred […]
By the time you’re ready to meet face-to-face with a prospective buyer for your CPA practice, you’ve narrowed down a large field of candidates. Now you have a small number or possibly even just one candidate that seems to have what it takes: appropriate educational and professional qualifications, strong communication skills, and the financial means […]