windmill Posted November 14, 2018 Report Posted November 14, 2018 The contract to sell my business was signed today. The buyer takes over on January 1st. I finish the bookkeeping and tax returns dealing with 2018. Did someone say "PARTY". 10 1 Quote
Margaret CPA in OH Posted November 14, 2018 Report Posted November 14, 2018 Congratulations! I wish, I wish, soon... If only I didn't like diving so much I would quit today. 2019 is going to be a very good year for you! Enjoy, savor, party! Quote
jklcpa Posted November 14, 2018 Report Posted November 14, 2018 Congratulations on the sale and retirement! I hope it is a smooth and easy transition for you and the clients. 1 Quote
Gail in Virginia Posted November 14, 2018 Report Posted November 14, 2018 Congratulations! I hope everything is smooth sailing from here on out! Quote
Catherine Posted November 15, 2018 Report Posted November 15, 2018 Hooray hooray enjoy the day(s)! Congratulations!  Quote
Abby Normal Posted December 6, 2018 Report Posted December 6, 2018 Congrats and enjoy you next chapter! Quote
TAXMAN Posted December 7, 2018 Report Posted December 7, 2018 I am hoping in a year or 2 if I can get my daughter up to speed. Am curious about one thing. How did you price it? Like 100% of gross plus equip or some other way. Anyway Congrats in order. Now to get to those other projects???? Stay and visit with us once in while. Years of experience can be useful to someone just coming on. Quote
windmill Posted December 7, 2018 Author Report Posted December 7, 2018 Since I did not want to work another season, the purchase price was 20% of 2018 estimated gross plus a referral fee of $100 for each of my 1040 clients who transferred to buyer plus another 15% of the billings for the bookkeeping clients for 2019. He is happy and so am I. I will do the 2018 tax returns for the business clients and he will pick up the bookkeeping for 2019. I office at home so equipment or supplies were considered. Basically, sold client listing. We will meet at the first of each month to settle up. 1 Quote
Lee B Posted December 7, 2018 Report Posted December 7, 2018 1 hour ago, windmill said: Since I did not want to work another season, the purchase price was 20% of 2018 estimated gross plus a referral fee of $100 for each of my 1040 clients who transferred to buyer plus another 15% of the billings for the bookkeeping clients for 2019. He is happy and so am I. I will do the 2018 tax returns for the business clients and he will pick up the bookkeeping for 2019. I office at home so equipment or supplies were considered. Basically, sold client listing. We will meet at the first of each month to settle up. I must say, you gave your buyer a fantastic deal . 2 Quote
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