Mastering CPA firm acquisitions from a 2 time buyer – Podcast with Andrea MacDonald 

We were thrilled to have Andrea MacDonald, the founder and CEO of Pro Tax & Accounting LLC, on this episode of Accountant’s Flight Plan Podcast. In addition to her wealth of expertise in managing micro businesses, Andrea shares her insights on the strategic process of acquiring an accounting firm. She emphasizes the importance of carefully assessing your current practice, pinpointing what is working well and what needs improvement, and establishing specific acquisition criteria. She sheds light on the financing aspect of CPA firm acquisitions, stressing the significance of a trustworthy lender.  

This podcast touched on:

  • The strategy behind accounting firm acquisitions
  • Financing insights 
  • Innovative approaches to growing your CPA practice 
  • The importance of having a smooth owner transition

You do not want to miss this engaging conversation with Andrea as she shares her valuable experiences and knowledge.

If this conversation inspires you to start improving your practice, check out Accounting Practice Academy for resources on assessing your own practice strengths and weaknesses. 

You can listen to the podcast in the player below or watch the latest episode here

Time stamps:

00:37 – Introduction from Andrea

3:00 – Working with microbusiness

5:40 – Managing client advisory expectations

9:44 – Deciding to buy a new accounting firm

14:46 – Financing do’s and don’ts

22:03 – Transitioning owners after an acquisition

24:42 – Lessons learned during an acquisition

35:06 – Advice for new CPA buyers

In addition to offering accounting services, Andrea also offers a bookkeeper mentorship, helping “newbie” bookkeepers to expand their technical accounting skills.  You can follow or contact Andrea on LinkedIn (Andrea MacDonald, CPA).

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