Are you being realistic?
By Ed Mendlowitz
202 Questions and Answers: Managing an Accounting Practice
QUESTION: I am getting older and want to continue working at least five more years. Should I merge now to anticipate and facilitate a buyout?
MORE: How Much Is Your Tax Practice Worth? | Ready to Retire? Selling Your Practice Is No Strategy | Uncooperative Partner Might Not be the Problem | Merge in Lower-Priced Work without Losing Out | 20 Things You Need for a Business Valuation
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RESPONSE: Selling means retiring. Is that something you want to do? I’ve written many times about being clear about your goals and what you really want. That being said, here is a general discussion about the reality of the value of your practice.