Tax Practice Wanted

[Mike D]

I am not certain that this post is appropriate for this board, however a similar one was posted on Intuit's website http://www.taxalmanac.org/index.php/Main_Page, under business growth .

I am a CPA in Nassau County, Long Island, NY and would like to purchase a small to medium, up to $100,000, tax practice in the local area.

I have been in practice for over 30 years, and share a working relationship with another practitioner. Our combined practices consist of 130 personal tax returns and 20 business returns, writeups, compilations & reviews, bookkeeping, payroll tax services, etc.

Anyone interested in selling, merging, etc, this type of practice should feel free to contact me directly at [email protected].

Thanks

Mike Dubin CPA

[Mike D]

For Eric.

Would it be at all possible to begin a separate forum for "Tax Practices For Sale and/or Merger"?

If there are no objections this may assist many of us in our plight to obtain additional business as well as save any and all commissions.

Thanks

Mike Dubin CPA

[Pacun]

Tax practices have a 0 value. Most of the clients don't stick around with the new company. I new forum will not make sense.

[GeneInAlabama]

>>Most of the clients don't stick around with the new company<<

Depends on how it is handled. I bought a tax practice years ago and kept most of the clients of the preparer I bought the business from. She worked with me for the first year as an employee and it worked fine. As for having a separate forum, I don't know if it would be beneficial or not since we are scattered all over the country. It would be unusual to find a preparer that is close enough to matter that would be willing to sell their practice. I know of only one other member of this forum that is in the entire state of Alabama.

I see nothing wrong with advertising on this forum to buy or sell a tax practice.

[GeneInAlabama]

As K.C. has mentioned numerous times, it would be very beneficial if each one would list the state they are in. It would be even better if we listed the state and the city.

[Eric]

I don't mind creating new forums, but I'd like to avoid creating one that is so infrequently used that its always empty.

I'd say it's up to you guys to determine if a particular category of discussion would be active enough to sustain its own forum.

[Mike D]

I think that this would topic would serve all of us on this board who are contemplating buying, selling or merging their practices. This could turn out to be a formidable way to conduct these type transactions without any fees.

I would suggest that any transaction that once concluded should offer to contribute some fixed fee and or percentage of the price to Eric for his hard work in setting these forums up and maintaining them.

I suggest that we have a poll and see where it leads us.

Thanks

Mike Dubin CPA

[GeneInAlabama]

If someone in the Anniston/Gadsden, Alabama area were interested in buying my small practice, I would probably sell and pursue another interest. As I mentioned earlier, I only know of one other person on this board in the entire state of Alabama and I don't know his location.

[Eric]

Anyone want to come up with a forum name and description? Is there anything else industry specific that one might want to buy or sell? Just trying to figure out whether the forum's focus can be widened to include any other types of transactions.

[Lion EA]

Maybe preparers wanting tax season work, or even off-season work. And, the corresponding firms needing an extra preparer, full-time or part-time, for the busy season.

[taxit]

I don't know how much time and effort it takes to set up a new forum. So I think you before you take your time you should see if there is any real interest. This subject was started Aug. 25th and there has only been 9 responses and only 2 of those were about purchasing/selling a tax practice. At this level of activity the General Chat Forum should work fine.

[michaelmars]

I think that this would topic would serve all of us on this board who are contemplating buying, selling or merging their practices. This could turn out to be a formidable way to conduct these type transactions without any fees.

I would suggest that any transaction that once concluded should offer to contribute some fixed fee and or percentage of the price to Eric for his hard work in setting these forums up and maintaining them.

I suggest that we have a poll and see where it leads us.

Thanks

Mike Dubin CPA

did you get my private message last week?

[Mike D]

Michaelmars,

I did not receive any correspondence directly from you? I did however receive a direct emeil from Jeri in St Louis whom I responded to.

Mike Dubin CPA

[michaelmars]

i resent a private message

[Mike D]

michaelmars

Yes I did respond to you. I didn't recognize the email.

Mike Dubin CPA

[samingeorgia]

Perhaps it would be helpful to have a separate section devoted to how practitioners deal with the challenges we all face, especially the process of transition out of practice. How can we get the most out of what we have worked for? What's best for the clients? How do you find young people who can think and solve problems, deal with clients, and who want to do this work?

[michaelmars]

i haven't received any private messages. you can call me at 516-829-3253

[Eric]

If i can get some suggestions for the name and description for the new forum, I'll make it happen

[Mike D]

On Tax Almanac's Board they have a forum titled "Business Growth Community". They cover topics such as,

How to become a tax preparer?

Tax Court Bar Exam

Enrolled Agent Exam

Wiley books

Fees in taking over business

Non payment of Tax Prep

When e-filing isn't permitted

Registered Tax Return Preparer test

Just my luck...CPA eligible

What's wrong with Bookkeeping?

Hiring issues

Crossing the Rubicon-CPA exam

Practice Wanted

Anyone take EA exam part II recently?

CTEC Online Education

EA exam

Need some assistance starting Tax Firm in Illinois... Liability Insurance, EFIN, Pricing

It's been a while

SaaS - CS Thomson vs CCH

Bringing Family Members to Firm

Due Date Monitoring - Thomson Firmflow

Charging interest for late paying clients

DMS solutions 100

Questions on different Marketing Plans

Need alternative to emailing 1040's

Sterling Practice Management Program

Home or Commercial Office Practice

Anyone using Charter Cable telephone

Gold and the Cost of a Nice Mens Suit

Who can actually sign a payroll tax return?

Tax Practice for Sale North Houton

CPA vs EA and Yaeger CPA review course

Anybody attend the NAEA national convention this year?

Practice For Sale

Work Experience Requirements for IL

Charitable organization set up

Unlimited cpe study courses accepted in IL

Practitioner hotline wait time

Removing credit priveleges

Marketing Resources

What's your ideal firm size? How much growth is too fast?

Starting A CPA firm from scratch

Payroll software

My Responsibility?

Buying a practice - advice needed

Tax Software Survey results

15 Year Non-Filer

Requests from lendors for proof of self employment

Website/ Telephone

CPA Trendlines

Anyone interested is viewing all of the content go to

www.taxalmanac.org/index.php/Discussion_Forum_-_Business_Growth_Community.

Thanks Eric.

Mike Dubin CPA

[Gail in Virginia]

I like that suggestion, Mike. The topic is broad enough that it might generate more than just an occasional post, and yet it does define a topic other than tax questions.

[Eric]

Consider it done!