First, a note from our President and Founder:

As we move through tax season, many firm owners are thinking about what’s next—whether that means growing through acquisition or preparing for a profitable exit. Buying or selling a tax & accounting practice requires strategy, preparation, and the right timing. Here are some key tips to set yourself up for success:

For Sellers:

• Maximize Firm Value – Keep your financial records organized, optimize profitability, and strengthen client retention before listing your practice.
• Know Your Worth – Get a professional opinion of value (OOV) to understand your firm’s true market value and negotiate the best deal.
• Prepare for Due Diligence – Buyers will analyze everything from revenue trends to client contracts—ensure all documentation is in order.
• Plan for a Smooth Transition – A well-planned handover, including staff retention strategies, ensures continued client trust and business stability.

For Buyers:

• Do Your Homework – Conduct thorough due diligence to evaluate financial health, client demographics, and long-term sustainability.
• Assess Cultural Fit – Merging firms isn’t just about numbers—ensure alignment in firm values, service models, and client expectations.
• Understand Deal Structures – From earn-outs to seller financing, knowing your options can help you structure a deal that benefits both parties.
• Leverage Technology & Innovation – Many firms are transitioning to cloud-based solutions; look for opportunities to modernize and scale operations.

At Private Practice Transitions, we specialize in helping professionals confidently navigate the buying and selling process. Whether you're considering an exit or expansion, we're here to help you make informed, strategic decisions.

- Justin Farmer, Esq., CBI

President & Founder of Private Practice Transitions

FEATURED BLOG: 

All About the 4 Standards of Value in Business Valuation

What is your business worth? In terms of personal value, it’s most likely priceless according to you. Nevertheless, if you plan to sell your business, merge it with another company, or prepare for retirement or a career change, it’s worth knowing what the business’s true value is to a buyer. Valuation provides a clear picture of a company’s financial health and market position. However, a firm valuation can take on different meanings depending on the standard of value used to assess it. These standards drive how to measure value and ensure an accurate price. This blog is all about the four standards of value in business valuation. We’ll explore the primary standards of value in business valuation and their applications, highlighting each standard’s importance in making informed decisions for your business. Keep reading to learn more in our blog,  "All About the 4 Standards of Value in Business Valuation".

MARCH FEATURED LISTINGS

Listing 1244 

This full-service tax, accounting, and business/estate planning law firm is an "alternative business structure" under Arizona's unique laws allowing lawyers and nonlawyers to practice together. This nearly fully-remote Arizona firm was established in 2017 and offers an "all under one roof" approach, providing a seamless experience for its client base, consisting primarily of small to medium size business owners and nonprofit organizations. With 2024 gross revenue exceeding $2 million, this firm has built a strong reputation for delivering tax, accounting, CFO Advisory and legal services—all in one place. Currently, there are approximately 300 total clients. The practice currently employs seventeen (17) individuals, including dedicated contractors and the owners, who are willing to provide transition assistance and help with goodwill transfer, business development, and other “mentoring” functions for an agreed-upon period. This is an excellent opportunity to acquire a one-stop-shop tax, accounting, & business law firm with a strong foundation, experienced staff, consisting of lawyers, CPAs, and EAs, and room for further expansion. Note that the owners are willing to break off the legal practice and sell only the tax, accounting, and CFO Advisory practice for the right buyer. 

Listing 1245 

Seize this rare opportunity to acquire a well-established, fully virtual accounting services firm with a strong reputation and revenues. Founded in 2016, this cloud-based practice has embraced cutting-edge technology to deliver seamless financial solutions to a diverse and loyal client base. Currently, there are approximately 600 active clients. The Practice’s service by revenue breakdown is 68.3% bookkeeping, 13.4% advisory, 11.8% tax, 2.5% project work, 2.4% HR services, and 1.6% other. In 2024, the Practice brought in over $4 million in revenue. The Practice’s success can largely be attributed to its established name and loyal clients who have grown to trust the services it provides. The practice currently employs twenty-five (25) individuals, including the owner, who is willing to provide transition assistance and help with goodwill transfer, business development, and other “mentoring” functions for an agreed-upon period. This is an ideal acquisition for a firm looking to scale quickly, or for an entrepreneur ready to take over a high-performing, remote-first practice. 

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