Hi,
I am about to takeover a small tax preparation business from my mother-in-law, who is retiring this year, i.e. not doing another tax season.
I would really appreciate advice about the best way to announce retirement/facilitate transfer of ownership from her to me.
I have been working with her for the past 5-6 tax seasons, so a lot of the clients are familiar with me, but not all of them. Also, we have recently added my name to the business name, but haven't announced that either.
I am wondering about:
should we announce her retirement? or just announce the name change? or just say she will be "cutting back"? and what should the timing be (relative to tax season)?
Thanks!