Dear Head: I tried for a year meeting with other CPAs and firms in my town and surrounding towns. Even though I had purchased lists three times previously, I tried to sell without requiring me to work except in very limited circumstances. I should have known better. I had over 500 1040s and about 80 others, some for over 25 years.

Then I contacted a broker, accountingpracticesales.com. They cost 10% of sales price, minimum $20K commission. They found several potentials, I spoke and met with four, and made the deal. 25% of annual fees for 4 years(2025 taxes in 2026 is the final year!). New clients are also mine and I get the 25% for them, too. I lose some clients every year.

I still hold some hands, still prepare all the 1041s, and try to avoid speaking with most clients since it's not mine anymore. I get paid hourly for working.

So I sold the list; I did not merge the practice into his. Otherwise I would have to work more than I prefer. I have worked about 50, 60 and 70 hours each year, respectively.