IndustriesProfessional Services
Your practice is your biggest asset. Plan it that way.
Professional firms run into the same questions sooner or later: how partners get paid, who buys in, and what happens when someone retires. We help you answer them before they turn into disputes.
What we handle for professional firms
- Partner compensation formulas that match what the partners value
- Buy-ins and buyouts structured for the tax and the cash
- Entity choice: partnership, S corporation or professional corporation
- Cash vs. accrual accounting, and when to switch
- Practice sales and succession planning
- Owner tax planning, coordinated with the practice every quarter
Questions owners ask us
How should we price a partner buy-in?
There’s no single formula. Most buy-ins combine a share of the capital accounts with a value for goodwill or future earnings, and how it’s paid changes the tax for both sides. We help you set terms the incoming partner can afford and the senior partners can live with.
Should our practice be an S corporation?
Sometimes. An S corporation can reduce self-employment tax on part of the owners’ income, but it requires profits to be split by ownership and adds payroll requirements. The answer depends on how many owners you have and how you want to share income, so we model both.
Let’s talk about your business.
A first conversation costs nothing and commits you to nothing.