Buying a Cpa Practice

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Jan 22, 2010 10:05 pm

What about buying a Cpa practice from a retiring cpa.

Send all the the clients to 5 cpa’s you like/trust in exchange for referals…
All clients get interviewed to review their current “situation” and see their tax returns and investment statements …naturally.

All revenue gets split for 5 years and forwarded in a revenue sharing agreement etc.

Thoughts?

Jan 22, 2010 10:10 pm

Are you a CPA?

Jan 22, 2010 10:20 pm

No, But I play one on TV… lol

My partner is and our office is in the wing of a cpa firm…

Jan 23, 2010 4:34 am
dashover:

No, But I play one on TV… lol

My partner is and our office is in the wing of a cpa firm…

  Are you guys like "partners" or do you run your advisory business together?   I can't imagine a practice with 5 CPAs being cheap. I'd assume there is a buy out on top of the revenue sharing.   If you have that kind of cash, it might be better spent on your business. Or buying out another advisory practice.