One of your jobs as a CPA is to be a strategic advisor. You advise your clients on how to be prepared with the right documentation, details and records to protect and even maximize the monetary value of their personal and business financial activities. This is one of the skillsets you will need to utilize […]
If you are selling your CPA practice or firm, or even just thinking about it, what is most likely of paramount importance to you is finding a qualified buyer who is a great fit for your practice while receiving maximum value and maximum cash at closing. You are likely thinking: “Right. Well tell me something […]
Like a good marriage, two companies can combine and become more than the sum of their parts. Many factors go into a successful merger, including senior teams that can work well together, shared values and an understanding of each other’s business culture. Employees, stock owners and other stakeholders also need reassurance along the way as […]
Most people have heard the stereotypes about millennials – that generation born after 1980. Lazy. Narcissistic. Disloyal. Entitled. Only interested in positive feedback. They care more about money than meaning, and are married to their smartphones. But is this true? And what if a millennial wants to buy your CPA firm? Should you sell your […]
Whenever Accounting Broker represents the seller of an accounting practice, we coach that seller to have non-compete agreements in place with the accounting practice’s employees. This helps to protect the practice from employees leaving and taking clients of the firm with them when they leave. Without non-compete agreements, a potential buyer of the practice would […]
You’ve been working for somebody else for years, and now you’re ready to buy and manage your own CPA firm. But when you start comparing CPA practices for sale, you can easily get confused. Which one will be the best and most profitable fit for you? Here are a few factors to consider when shopping […]
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 […]
Seller’s Discretionary Earnings (SDE) valuation methods can achieve sale prices of 150% or more of annual billings, and even as high as 200% or greater for extremely profitable firms. SBA 7(a) financing up to $5 million is readily available for qualified buyers through the Preferred Lenders Program. Two firms with identical $1,500,000 billings can have […]
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 […]