Looking to buy a Tax or/and Accounting practice

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#1
Posts:
1
Joined:
26-Jul-2020 1:22pm
Location:
Brooklyn, NY
Please let me know if you know anyone who is retiring and willing to sell a small tax or/and accounting practice on the following terms: 20% per year for 5 years for all retained clients. I am very flexible with location as long as it is not in a horribly overpriced place (CA for example). Escaping NY in December and looking for a more family friendly place to settle...
 

#2
Posts:
835
Joined:
1-Sep-2020 2:47pm
Location:
845-NY
I think you should first decide on where you want to settle.
I keep an eye on Accounting Practice Sales.net
Always looking down south, hoping to retire or at least semi-retire somewhere warmer.
They have listings for every state, but they are a broker so it's not likely they will go for the 20% over 5 years but it's worth a shot if you find an aging boomer that needs an exit strategy.
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Your other option is to figure out where you want to move, at least narrow it down to a state, and then start contacting aging CPAs who might need an exit strategy.
I can give you a couple names for practices for sale in upstate, but it sounds like you want to get out completely.
 

#3
Posts:
2887
Joined:
21-May-2018 7:50am
Location:
Northern MI and Coastal SC
ReckedCPAEA wrote:Always looking down south, hoping to retire or at least semi-retire somewhere warmer.


FYI, we are planning to fully relocate to Michigan in about 5-7 years, at which point I'll most likely sell my SC practice. Until then, I will have clients in both states and then split out the clients. If Hilton Head Island, SC has ever hit your wish list of places to live, keep me in mind down the road.
 

#4
Posts:
835
Joined:
1-Sep-2020 2:47pm
Location:
845-NY
Noted, will send you a PM so as not to threadjack.
Interesting choice to move to the cold.
 

#5
Posts:
3222
Joined:
21-Apr-2014 8:25am
Location:
Michigan
Hi Cornerstone where are you going in Michigan? We have many old timers retiring in Michigan. But if they have great clients they tend to get merged into small/midsize firms.
 


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