FREE Special Report by Troy C. Patton, CPA

5 Pitfalls to Avoid When Buying a

CPA or Accounting Practice Plus

What is a Firm Really Worth?

   So you're thinking about buying an accounting or CPA practice.

   Before you start writing the seller a check, let me tell you a little secret. 

   A secret you probably don't want to hear.  Of all the accounting practices bought and sold in a given year, about 1/4 of the transactions FAIL or fall apart 1-2 years after the sale.

   By "fall apart" I mean the buyer doesn't think he or she got what they bargained for from the sale.  More specifically the clients they thought they were going to be serving, well a big chunk of them never "transitioned" over.

   Or the top clients just so happened to be headed to another firm.

   Or the collections were no where close to what they should have been because as you called the client list, several big name clients weren't really working with the seller as their accountant.

   For whatever reason, why does this happen?  What happens to cause the failure rate to be so high?

In the over 15 years as a CPA myself I've consulted with 249 accountants buying or selling a practice.

   If fact over the last 11 years I've personally bought 12 accounting and CPA practices myself.  And I am NOT a broker!

  Take my word for it, there is a laundry list of items you need to perform due diligence on when acquiring a firm.

   There is also a shorter list of several critical issues you have to understand, investigate and plan for to avoid huge "deal & practice killer" problems AFTER your purchase.

   Let me tell you what happens if you do not understand just one of the many problems in the acquisition of an Accounting or CPA practice.

  One huge mistake that's often overlooked is realization.  Not understanding what your "realization" is and will be after an acquisition can literally bring down the practice you buy.

   There are specifics about how to understand realization, what you need to know about it, and how it implement it within your practice.

   Not doing so can literally knock your revenues in half (I've seen it happen over and over again).  At my upcoming seminar after tax season I will give you real life examples of practices that ignored it, what happened, and how you can avoid the same mistakes.

   But in the meantime, to help you and other accountants learn from my victories and mistakes & realize a positive experience when you buy an accounting practice, I've developed a Free Special Report titled...

5 Pitfalls to Avoid When Buying a CPA or Accounting Practice Plus What is

a Firm Really Worth?

   It’s a quick guide to some of the pitfalls you will encounter when acquiring a practice or contemplating acquiring a practice.

  I've gleaned this information from my private experience of scrutinizing 249 transactions AND of my actual personal BUYING TWELVE accounting practices myself.

   I think you will benefit from studying it, especially if you are looking at expanding your practice by acquiring another practice.  Or even if you are just getting started with your own practice and intend to buy a practice to get you quickly into the game.

   It's completely free, all you need to do is fill in the form below to request your copy.  I'll immediately send you an email with the report attached in a PDF document format.  So enter in your primary email address and usually in 10 minutes you should get the report from me.

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Thanks again and look for your report in your email.

Troy C. Patton, CPA

Patton and Associates, LLC.

9000 Keystone Crossing, Suite  630

Indianapolis, IN 46240

317-581-1300