here’s what you’re looking for: edward mendlowitz

management

preparing to sell your practice in a few years? 13 things you need to know today

what to do before you put your practice on the market.

here at 卡塔尔世界杯常规比赛时间, ed mendlowitz answers some of the toughest questions practitioners can throw at him. he’s the right one to ask. after more than 40 years in the business – building his own practice, running the firm, and eventually selling it to a major regional firm, withumsmith+brown, where he remains a senior partner and consultant to professional services clients – he has the answers. we’re happy to have him at 卡塔尔世界杯常规比赛时间. send your questions for ed here, or chime in with comments below.

meanwhile, browse more from ed here:  what’s a tax practice worth today?  /  congratulations! you bought a tax practice. now what? | how accountants can keep the business when a client wants to sell theirs | 10 reasons clients don’t pay, and what to do about it | 13 reasons timesheets will never die | 

— rick telberg
president / ceo

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?

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mergers & acquisitions

what’s a tax practice worth today?

five key ingredients in the calculation.

by ed mendlowitz
the practice doctor q&a

question: how much can i sell my practice for?  and how do you value a tax practice for sale?

more mendlowitz:  why selling your practice is not a retirement strategy  | congratulations! you bought a tax practice. now what? | how accountants can keep the business when a client wants to sell theirs | 10 reasons clients don’t pay, and what to do about it | 13 reasons timesheets will never die

response: good questions and ones i get all the time.  here is a listing of some of the things that need to be considered in the pricing. when you sell your practice, the elements that need to be dealt with are: read more →

outlook & analysis

why selling your practice is not a retirement strategy

what are the guarantees?

here at 卡塔尔世界杯常规比赛时间, ed mendlowitz answers some of the toughest questions practitioners can throw at him. he’s the right one to ask. after more than 40 years in the business – building his own practice, running the firm, and eventually selling it to a major regional firm, withumsmith+brown, where he remains a senior partner and consultant to professional services clients – he has the answers. we’re happy to have him at 卡塔尔世界杯常规比赛时间. send your questions for ed here, or chime in with comments below.

meanwhile, browse more from ed here: when a partner is unwilling to help  | congratulations! you bought a tax practice. now what? | how accountants can keep the business when a client wants to sell theirs | 10 reasons clients don’t pay, and what to do about it | 13 reasons timesheets will never die |

— rick telberg
president / ceo

question: i’ve heard you say that you shouldn’t count on anything from your practice when you decide to retire.  are you serious?

read more →

leadership

when a partner is unwilling to help

maybe the problem is you.

here at 卡塔尔世界杯常规比赛时间, ed mendlowitz answers some of the toughest questions practitioners can throw at him. he’s the right one to ask. after more than 40 years in the business – building his own practice, running the firm, and eventually selling it to a major regional firm, withumsmith+brown, where he remains a senior partner and consultant to professional services clients – he has the answers. we’re happy to have him at 卡塔尔世界杯常规比赛时间. send your questions for ed here, or chime in with comments below.

meanwhile, browse more from ed here: what to do when you lose your biggest client  |  congratulations! you bought a tax practice. now what? | how accountants can keep the business when a client wants to sell theirs | 10 reasons clients don’t pay, and what to do about it | 13 reasons timesheets will never die |

— rick telberg
president / ceo

question: my tax partner gives me a hard time when i ask her for assistance.  is there anything i can do to get her to be more responsive?

read more →

management

congratulations! you bought a tax practice. now what?

how to make money merging in low-priced work.

by ed mendlowitz

question: i bought a tax return practice in december from a person that was charging $180 per hour. my rate is $300 per hour so i did not make money and i would like to know what i could do to raise fees so i don’t continue to lose on it. read more →

outlook & analysis

how accountants can keep the business when a client wants to sell theirs

the four-step process to use when a client asks for an outside consultant.

question: i have a client who’s thinking of selling his business, and he asked me to recommend a “consultant” to help him get his business in shape to sell.  i am afraid that if he finds someone on his own i’ll lose control of the client. he might end up not selling and i could lose the client. i do not know anyone to recommend.  what do you suggest i do?

ed’s response (including the 20-item checklist, “preliminary document request for a business valuation”):

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management

13 reasons timesheets will never die

ed mendlowitz

nor should they.

by edward mendlowitz, cpa
partner, withumsmith+brown

time sheets are an essential part of any professional services organization. some people contend that they should not be maintained since they should not be the basis of any pricing – that fees should be solely based on the value to the client. i disagree.

editor’s note: timesheets, billing, cost accounting, value and pricing strike at the core of the accounting firm business model. for more on the topic, see:
> 14 steps to find the right “value price,” by bruce w. marcus
> you may be value-billing but don’t know it, video with terry putney
> why the next boom could be the worst thing that ever happens to accountants, with ron baker

read more →