Practice Sales Blog

Here in Indianapolis, the weather is bitterly cold. This means a few things; winter is in full swing and tax season is approaching. Obviously you are or should be prepared to go through tax season without any flaws. You have your software ordered, organizers out, staff in place. You will most likely have your head buried in your desk for the next few months. It’s also a great time to plan your future after tax season, especially if you are planning on being your last tax season and you are looking to retire or move away from the accounting industry all together. Buyers will be looking for firms that have their numbers in order, books in line and A/R low. Planning for transitioning your practice can be a difficult and daunting task. My advice would be to make sure the bottom line looks good and the numbers all check out. The market for financing has also changed. It is still too early to project if this will decrease the market value for accounting firms in 2009 but my prediction is it won’t. The sales price in selling your accounting practice is always based on market value. I predict that buyers will still be very interested in acquiring firms despite the outlook for the economy. Keep on chugging along during tax season and good luck for now.