When I first opened my CPA firm in Washington back in the early 2000s, I never really thought about how I’d close it. Like most firm owners, I was too busy building. New clients, referrals, tax season, staff training, the occasional software overhaul—you blink, and two decades have gone by.
But after 20+ years in the business, something shifted. My energy wasn’t the same. My priorities were changing. And I started wondering: What would it look like to step away? Could I sell this thing I spent my life building?
Turns out, the answer was yes—and doing so was one of the most rewarding decisions I’ve ever made.
Let me walk you through what that journey looked like, and why I now tell every fellow CPA who’s even thinking about selling: Start the conversation now. You won’t regret it.
The Moment I Knew It Was Time
I didn’t have a dramatic “I’m burned out” moment. It was more subtle.
I started noticing I was clocking out mentally long before I actually left the office. I’d scroll through QuickBooks reports with one eye on Zillow, daydreaming about moving closer to my grandkids. The fire was gone. And the stress? It hadn’t gone anywhere.
I had a great team, a loyal client base, and stable revenue. But I didn’t want to just keep going until something forced my hand—like a health scare, a family emergency, or a market downturn. I wanted to go out on top.
That’s when I started looking into how to sell my accounting practice in Washington—and not just to anyone, but to someone who’d treat my clients right and preserve what I’d built.
Why I Didn’t Try to Sell It Myself
At first, I thought to myself, “I know business. I’ve run this firm for years. I can probably handle selling it on my own.” I believed that my experience and instincts would be enough to navigate the process. That illusion lasted about five minutes.
As soon as I started digging into the details, I was quickly overwhelmed. There were so many new and complicated elements to consider—different valuation models that didn’t all agree, client retention strategies to protect ongoing revenue, non-disclosure agreements (NDAs) to keep sensitive information confidential, complex deal structures to maximize value, and even state-specific rules around licensing transfers in Washington. It was a lot more than just listing the firm and shaking hands.
I realized pretty fast that this wasn’t something I wanted to figure out by trial and error—especially not in my 60s. The last thing I wanted was to get bogged down learning M&A law and deal mechanics, hoping I didn’t make costly mistakes. This was a once-in-a-lifetime transaction, and I wanted to get it right the first time.
That’s when I decided to reach out to a firm specializing in CPA practice transitions. Looking back, I honestly wish I had called them five years earlier. What they offered was exactly what I needed: someone to take that mountain of confusing, intimidating unknowns and break it down into clear, manageable steps. They didn’t bombard me with pushy sales pitches or pressure to act quickly. Instead, they gave me something far more valuable—clarity, guidance, and confidence.
Having that support turned the entire process from a daunting challenge into something achievable. It made me realize that selling a practice is its own kind of business, and it takes experts to help you navigate that unique terrain. Without that help, I’m not sure I could have made it through so smoothly—or with such peace of mind.
Understanding the True Value of My Firm
I went into the valuation process thinking I had a rough idea of what my firm might be worth. Let’s just say I was way off—sometimes overestimating, sometimes underestimating. It quickly became clear that valuing a firm is about so much more than just looking at revenue numbers.
The valuation took into account a range of important factors. For starters, the client mix was crucial—how many clients were recurring versus one-time or seasonal? Buyers value predictable income streams, so having a strong base of recurring clients added stability and boosted the firm’s worth.
Next, the types of services we offered played a big role. Tax preparation, advisory, bookkeeping, and audits all carry different weight. Advisory and monthly bookkeeping contracts, in particular, tend to be more lucrative and dependable, so having a solid portfolio of those services helped increase our value.
The strength and depth of the staff were also important. Buyers want to know that the firm isn’t dependent on one person, especially the owner. Having a capable, committed team in place made the business more attractive and demonstrated operational continuity.
We also looked closely at our internal systems. Moving from legacy software to cloud-based platforms showed that the firm was modern, efficient, and ready for a smooth transition. Tech-savvy buyers appreciate the ease of integration and the reduced learning curve that comes with cloud solutions.
Finally, the level of owner involvement factored heavily into the valuation. The buyer wanted reassurance that the firm could continue running successfully without me at the helm. Because I had spent time building strong systems and delegating responsibilities, the firm was seen as more autonomous—and that autonomy increased its value.
In the end, the buyer was far less interested in raw earnings and more focused on predictable, recurring revenue streams and operational stability. Our monthly bookkeeping contracts, payroll clients, and advisory packages made a significant difference. Coupled with the gradual technology upgrades, the firm presented itself as a well-rounded, forward-looking business, which helped maximize its value in the sale.
With the right people helping me, I was able to present the firm’s value in a way that made sense to serious buyers.
Why a Reputable Buyer Made All the Difference
I wasn’t just selling a list of clients—I was handing off relationships. Some of my clients had been with me since the early days. I knew their kids’ names, their financial goals, even their coffee orders. The idea of selling them off to the highest bidder made my stomach turn.
But the firm I worked with had a network of vetted, serious buyers. Not tire-kickers. Not big-box firms that would gut my staff and offshore my clients.
The buyer I ultimately chose was another CPA who had grown their firm through acquisitions and had a stellar track record of client retention and staff care. We had a series of interviews—not unlike dating—and they were honest about their process. They kept my staff on board, honored my client pricing for a year, and even let me stay involved during the handoff.
It felt less like a sale and more like a succession plan.
What the Transition Looked Like
What surprised me the most about the entire process was that the deal didn’t happen overnight—and honestly, that turned out to be a really good thing. Instead of rushing into a sale, we spent several months preparing long before the buyer even stepped foot in the office. That preparation laid the foundation for a smooth, successful transition.
During that time, I worked closely with the transition firm to get our internal systems in order. We cleaned up loose ends, standardized engagement letters, and updated client lists to ensure everything was clear and organized. These behind-the-scenes efforts made a huge difference in how professional and ready the firm appeared to the buyer.
I also put together a short-term plan to gradually step back over the course of 6 to 12 months. This phased approach allowed me to stay involved just enough to support the new owner and the team, without hanging on longer than necessary.
When it came time to announce the sale, we handled it with care and intention. I personally introduced the new owner to most of my top clients, helping build trust and reassurance. The buyer and I even conducted joint Zoom calls and co-signed tax returns during the first quarter, which gave clients continuity and confidence. Plus, I kept my email address active for a while so clients could reach out if they had questions or concerns, easing the transition even further.
And you know what? The whole process went smoother than I ever imagined. Most clients stayed on, staff morale remained high, and I was able to step away feeling proud of what we had built and the legacy I was leaving behind. It wasn’t just a sale—it was a thoughtful handoff that honored the business, the clients, and the people who made it all possible.
Life After the Sale
The sale officially closed in late fall, perfectly timed for me to enter the holiday season free from the usual tax prep crunch. That first holiday without looming deadlines or last-minute client calls felt strange at first—almost surreal—but it was also incredibly beautiful. For once, I could truly relax and enjoy the season without the constant pressure that had defined so many years before.
Nowadays, my mornings start slowly and peacefully. I take my dog for long walks through the neighborhood, savoring the quiet moments and fresh air. I get to spend quality time with my grandkids, watching them grow and learning from their boundless energy and curiosity. I’m also diving into books that have nothing to do with tax codes or IRS bulletins—just stories and subjects that genuinely interest me, which feels like a luxury after years of intense focus on the business.
I’ve taken on a few consulting gigs here and there, helping other CPAs who are preparing their firms for sale. It’s rewarding work because I can share what I’ve learned without the stress of running a full practice. There are no deadlines hanging over me, no staff meetings to attend, and no day-to-day operational fires to put out. It’s a much lighter, more enjoyable way to stay connected to the profession on my own terms.
And then there’s the financial side of it all—the nest egg from the sale. That money has given me the freedom to live the kind of retirement I always dreamed of but wasn’t sure I’d ever actually get to enjoy. Whether it’s traveling, pursuing hobbies, or simply having the peace of mind that comes with financial security, the sale set me up for a future full of possibilities. It’s a new chapter, one I’m grateful for every single day.
The Advice I Give Now
I talk to other firm owners all the time who are in the same place I was a few years ago. Here’s what I tell them:
1. Start early.
Even if you’re not sure you want to sell next year, begin preparing. Clean up your books, standardize your systems, and think about how your firm would run without you.
2. Don’t go it alone.
Selling your firm is different than running one. Partner with people who know the industry, know the state regulations, and know how to find buyers who’ll respect your legacy.
3. Focus on fit, not just price.
A few extra dollars on the table mean nothing if your clients and staff get burned in the process. Find a buyer who shares your values.
4. Think about life after.
What will you do with your time? What brings you joy outside the office? The sale is the beginning of something, not just the end.
Thinking About Selling Your Accounting Practice in Washington?
If you’re in that quiet in-between space—thinking about selling but not sure how to begin—I get it. I’ve been there. And I can honestly say: you don’t have to figure it out on your own.
There are people who can help you preserve what you’ve built and move into the next chapter with clarity, dignity, and reward.
So if you’re wondering, should I sell my accounting practice in Washington?—my advice is simple: explore your options. Get the facts. Have the conversation.
Because one day, like me, you’ll be on the other side of it all, looking back with gratitude that you made the leap.
