By Rick Dennen, Accounting Today
Tax season is over, and our phones are ringing with CPAs telling us they are not going to go through another tax season, asking themselves, is it time to sell? This happens every year. While we typically see an uptick in acquisition activity throughout the summer, truth be told, as business resumes at a normal pace, most owners eventually abandon the idea of selling. Another option for CPAs is succession planning.
Typically, business owners have invested years — often, decades — of time and energy into developing and growing practices into successful businesses. Over the years, many CPA practice owners supported their clients’ plans for succession, yet often have not had time to think and plan that future for their business.