[CPAwannab]

Hi all,

I’m basically looking for advice from anybody who is/was in similar position.
My boss is great, my whole accounting office is awesome and I love my job. It’s an office with 5 CPAs some admin and front desk person. My boss is selling his practice (he said he will wait for me to get my license though) but I am stressing about it so much I can’t concentrate. How will this look like? Does new CPA will want to hire me? should I start looking for a new job prior to that? I am from a small town so not much opportunities around here…
Forgot to clarify, my boss is one of the partners and I am his only accountant, and he is selling his practice/portion only.

[aaronmo]

If it's a successful practice I'd think they'll find a place for you.

My first priority would be the license. Don't do ANYTHING to delay getting your license in the easiest, fastest manner possible. Once you get the license, even if they decide to go a different direction, you'll likely be able to make a relatively easy lateral move. Don't do anything until the application goes through.

Most of the time selling a practice involves a transition…which you would likely be a part of. Those transitions often are 2-3 year affairs while the clients get acclimated to the new guy. Another option might be for you to ask if he'd consider transitioning to you and working out a percentage.

I get why you'd be worried, but this is probably a bigger threat in your mind than it actually is…as a CPA you have value, here or at another office. If you're getting along well with the others there, I really wouldn't be too concerned. It will likely work itself out.

[Anonymous]

Like @aaronmo says, why not bring up them transitioning to you? Finish getting your CPA and then you become the partner. I'm sure the other partners would like a smooth transition and someone who is already familiar with all the clients and their situations is ideal. This seems like it would dramatically lower the transition time and work out for everyone. You can probably work out a loan with the other partners where they take your equity share out of your paycheck for a number of years until your are a full equity partner.

You should look at this as an a opportunity instead of a problem. I also work at a small CPA firm and your exact situation is what I hope to happen for myself one day.

[Author]

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