When Is It Time to Merge?

Ed Mendlowitz CPA The Practice Doctor Q and AThe answer is personal, but certain questions can help you decide.

By Ed Mendlowitz
The CPA Trendlines Practice Doctor

QUESTION: I have a 20-person, five-partner firm, and am frequently approached by larger firms that want me to merge into them. I own 60 percent of the practice, and am 20 years older than the next oldest partner. Should I merge? I am happy with my situation and am inclined to let my younger partners decide what they want to do.