User talk:DZCPA

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Message from Cindy

Looks like you have experience with buying/selling CPA practice. What did you do about contingencies when the seller was staying involved for transition? Did you have a stipulation about what happened to the 20% payout if the seller became disabled or died? What about the buyer? My buyer is concerned that if we are doing a 6 year "earn out" and I get bored or disable in year 4, what happens to his stream of income? I have some ideas - are you open to discussing? Would appreciate any input. I can be reached at or 240-383-7837. Thanks! Csg 15:59, 14 August 2012 (UTC) Cindy

Message from Josh

Hi I'm looking into my first practice purchase. You've offered some advice to others in the past on you experience. I would appreciate anything you could share. Thanks Josh 9138151550


Buying a Practice

Hello Carlo,

You seem to be the guru of buying and selling accounting practices and I would like your advice, if you wouldn't mind.

I'm considering buying a tax practice:

Reason for selling: Seller retiring Year established: 1972 Strengths: No audits. Trusting relationships with clients. Computer Software: Drake Owner Hours Per Year 500 Owner Billing Rates $350 Per Return Employees: None Mail In/Drop-off Most clients come to office (80%) Gross income: 2013 Estimate $80,000 2012 $74,822 2011 $83,360

That's the basic info. above. Accounting Practice Sales is the broker.

I believe I've done my homework and would ask you if you could guide me through the process.

Would the first thing to do be to ask to review the client tax returns and set up a meeting for that? I would like to see the past 3 years and review every one of them. I would sign a confidentiality agreement.

If I like what I see then it's the negotiation stage. The only way I would do a deal is with a client retention clause and a non-compete agreement. How would you structure an offer? I know the broker wants his cut so I would assume I'd be making a down payment. How would you factor that in?

I appreciate any guidance you could give me.


Chris Dennehy

P.S. I sent this to your yahoo email address as well


My apologies. I called you Carlo instead of David

End of the forum

You may have heard by now that the Tax Almanac ( ) web site forum is permanently closing its doors effective June 1. Perhaps you have seen the pink bombshell “Important Service Announcement” when logging in.

Long-time TA user ChrisV2 has volunteered to set up a new website where TA users may continue the discussion. The site is up and running now and has an active base of contributors.

We invite you to take a look and join your fellow TA refugees.

Frankly (TA member and new member of TaxProTalk)

Frankly 23:49, 3 May 2014 (UTC)

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