Federal Tax Updates

Andres Costa and Emily Goodman have acquired four accounting practices since 2021, expanding from a single location to five offices with a team of ten. They break down their acquisition strategy, from finding deals and structuring payment terms to handling employee transitions and raising client fees. Roger and Annie dig into the hard realities of practice valuations, including why a $350,000 firm might only be worth $200,000 and what sellers need to fix before they can command top dollar

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Padgett -  Contact Padgett or Email Jeff Phillips

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Chapters
  • (00:00) - Introduction and Greetings
  • (00:52) - Meet the Special Guests: Andre and Emily
  • (01:55) - The Importance of Acquiring Firms
  • (02:46) - Starting the Acquisition Journey
  • (07:11) - First Acquisition Experiences
  • (13:16) - Evaluating Potential Firms
  • (26:20) - Maintaining and Scaling Operations
  • (33:22) - Structuring Acquisition Deals
  • (33:59) - Client Retention Strategies
  • (35:18) - Evaluating Firm Value
  • (37:03) - Challenges with Small Firms
  • (40:15) - Owner Financing Benefits
  • (48:17) - Raising Client Fees
  • (51:02) - Transitioning Clients and Employees
  • (59:32) - Final Advice for Buyers and Sellers
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Annie Schwab

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This podcast is a production of Earmark Media

The full transcript for this episode is available by clicking on the Transcript tab at the top of this page

All content from this podcast by SmallBizPros, Inc. DBA PADGETT BUSINESS SERVICES is intended for informational purposes only.

Creators and Guests

Host
Annie Schwab, CPA
Franchisee Operations Manager at Padgett Business Services
Host
Roger Harris, EA
President at Padgett Business Services
Guest
Andres Costa, CPA
Guest
Emily Goodman

What is Federal Tax Updates?

CPAs, Enrolled Agents, and Tax Preparers can keep up-to-date with the latest federal tax information while earning NASBA approved CPE credits and IRS approved CE credits by listening to the bi-weekly Federal Tax Updates podcast. The hosts Roger Harris and Annie Schwab have over 75 years of tax experience between them, which has been featured in various media outlets including Wall Street Journal, USA Today, The Morning Business Report, Bloomberg Business News, and Accounting Today.