Avid these NAICS in the grass-don’t forget to pay attention to your NAICS code on your tax filings this year if you’re planning an acquisition! SBA financing Is actually available to 100% buyouts of companies where the Seller has the same NAICS code as the Buyer

Preparing for the sale of your accounting practice doesn't have to be daunting, even during tax season. By following these five strategies – raising rates strategically, documenting crucial information, planning staff changes, optimizing your profit margin, and assembling your team – you'll set yourself up for a successful sale when the time comes. Don't wait until May; start preparing now to make this tax season your step towards financial freedom.

Check out our feature in Shout Out for more information on how we practice law. Thanks for the feature :)

Valuing an accounting practice for sale is often more straight forward than other industries but still has some deal-specific wrinkles that can make it difficult to ascertain.

The National Labor Relations Board (NLRB) has issued new guidance on severance agreements, clarifying that employers cannot require employees to waive their rights under the National Labor Relations Act (NLRA) in exchange for severance benefits. The memo offers guidance on the kinds of severance agreement provisions that could violate the Act if enforced, including confidentiality, non-disclosure, and non-disparagement clauses. This new development has significant implications for both employers and employees, and it is essential to ensure that severance agreements comply with applicable laws and regulations.

Learn from John's experience - buying an accounting practice without legal counsel led to significant challenges, including lost time, delays, and client loss. Read on to understand the importance of seeking legal advice when purchasing an accounting practice and how it can protect your interests.

"New 'Speak Out' Act Invalidates Non-Disparagement Clauses in Contracts

At SK&S, we offer legal and business advice on the purchase and sale of CPA and accounting practices.

SK&S is happy to help convert your CCPA Privacy Policy to CPRA compliance on a fixed fee basis- contact us for more information.

New Colorado non-compete rules impose strong penalties on employers who violate the statute — including fines of up to $5,000 for attempting to enforce or even present to an employee a non-compete that is later deemed “void.”

Deal cycle of a CPA firm or accounting practice buyout asset purchase agreement, transaction documents, bank approval, non-competes, employment agreements, due diligence, and the rest!

Companies wanting to incentivize their employees have a lot of options. The first thought is often equity, but Profit Sharing Plans or bonuses are typically easier and cheaper to administer and can have a similar impact.

Sweeping legal changes go into effect January 1, 2022 will require rapid action on behalf of Colorado companies with employees.

Hiring independent contractors is much less expensive and much simpler than onboarding employees. But if you pay someone who should be an employee as a contractor there can be steep legal and financial consequences.

How do you know who can sign on behalf of a Company? What if you’re not sure and can’t confirm?