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Business Sold


windmill

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  • 3 weeks later...

I am hoping in a year or 2 if I can get my daughter up to speed. Am curious about one thing. How did you price it? Like 100% of gross plus equip or some other way. Anyway Congrats in order. Now to get to those other projects???? Stay and visit with us once in while. Years of experience can be useful to someone just coming on.

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Since I did not want to work another season,  the purchase price was 20% of 2018 estimated gross plus a referral fee of $100 for each of my 1040 clients who transferred to buyer plus another 15% of the billings for the bookkeeping clients for 2019. He is happy and so am I. I will do the 2018 tax returns for the business clients and he will pick up the bookkeeping for 2019. I office at home so equipment or supplies were considered. Basically, sold client listing.

We will meet at the first of each month to settle up.

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1 hour ago, windmill said:

Since I did not want to work another season,  the purchase price was 20% of 2018 estimated gross plus a referral fee of $100 for each of my 1040 clients who transferred to buyer plus another 15% of the billings for the bookkeeping clients for 2019. He is happy and so am I. I will do the 2018 tax returns for the business clients and he will pick up the bookkeeping for 2019. I office at home so equipment or supplies were considered. Basically, sold client listing.

We will meet at the first of each month to settle up.

I must say, you gave your buyer a fantastic deal .

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