Are you considering selling your practice? If so, you may have these questions:
- Am I prepared to transition out of my practice?
- Am I financially prepared for retirement?
- How can I reduce my taxes upon the sale of my practice?
- What is the fair market value of my practice?
- What would banks be willing to lend a potential buyer for my practice?
PracticeCFO is both a financial planning and CPA firm. We focus exclusively on the financial needs of practice owning doctors. Consequently, we help doctors in all phases of their career. From accumulating their wealth, to preserving it in retirement, to perpetuating it to posterity.
We can help you transition out of your practice with comfort knowing you’re doing it right. We’ll do this by preparing a comprehensive retirement plan, factoring in your financial goals, resources, risk levels, inflation, and long-term care insurance. We can run various retirement scenarios to identify the plan that is appropriate for your life goals.
The benefits of our seller services to you include:
- A clear pathway to financial independence (i.e. retirement): Knowing you have a plan in place, and that you’re progressing financially in that plan, provides peace of mind and financial satisfaction.
- A smooth transition: We can help sellers stage their practice for the sale. Whether that’s next month, or in five years, we can help you best position your practice for market value and a successful exit.
- A coordinated team: We can coordinate a successful succession plan because we have a coordinated team of professionals, including your personal transition consultant, tax consultant, business valuation specialist, and investment adviser – all serving a master transition plan.