Avoiding Common Pitfalls When Buying An Accounting Practice


 
Buying an accounting practice can be a rewarding endeavor, but it's crucial to avoid common pitfalls. Firstly, thoroughly research the practice's financial health, client base, and reputation. Make sure there are no hidden liabilities. Secondly, negotiate a fair purchase price and consider consulting with a business valuation expert. Finally, establish a transition plan to retain existing clients and maintain the practice's success. Avoiding these pitfalls ensures a smooth and successful acquisition, making it a valuable investment in the accounting career.

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