Using a Two Stage Deal, Seller Transitions His Practice Over Time (from the files of Accounting Transition Advisors)

The seller was a sole practitioner. He had one CPA, one non-CPA professional, a per diem for tax season and a clerical person, and was generating approximately $750,000 in annual revenues. For purposes of the contract described below, the existing staff members were the "staffing base resources." His practice was predominantly compilation and tax oriented. This seller was netting 40 percent of his revenues including salary, perks, and benefits. He was investing approximately 2,200 hours annually, of which 60 percent was billable. He worked six days a week during tax season, four days per week during the summer and five days per week the balance of the year while enjoying four weeks vacation annually. READ MORE »

The results are in!
The results for the first survey question for Succession Advisory members are in! The question was: What percentage of your partners will seek to retire or reduce their time commitment below full time over the next 5 years? The results: Of the 124 firms that responded are:

• Only 16.1 percent of the firms say they have no partners in this category
• 54 percent said less than half their partners fall into this category
• 23.4 percentsaid more than half their partners will desire that reduction
• 6.5 percent said all their partners fall into this category.

READ MORE »

We have complied articles about Succession Planning and Mergers from all the best minds in the business. This will help you conduct research for meeting and retreats as well as create a succession plan or merger checklist. All articles are arranged by topic.
Click here to view the Succession Advisory book of articles.

Click here to ask our M&A Experts...