Selling Your Business – Who Do You Need on Your Team: Part 3 – Certified Public Accountant

Transaction Talk welcomes you to the third episode of a four-part series that details what business owners need to know about selling their businesses. Your hosts Jennifer and Eric interview Scott Sagan, a CPA with over 30 years of experience in accounting, auditing, taxation, and more. Scott shares from a CPA perspective how business owners can maximize their company's value and also make sure that their numbers are realistic to a potential buyer.

 

Key Points

[2:00] What does a typical conversation look like with a CPA and a business owner looking to sell his/her business?

[3:55] Every business owner wants to maximize their value, but it's important to be realistic with that expectation.

[5:05] How does Scott work with business owners and prepare them properly for a sale?

[7:25] What other people should be on a business owner's team when they're looking to sell?

[9:25] What role does a CPA play during the sale of a business?

[11:55] It's important to have a seasoned advisor who is used to these types of transactions.

[15:10] What types of documents does a CPA need to properly do their due diligence?

[18:00] What happens if there are two CPAs on the team and they disagree with the numbers/projections?

[18:45] Scott explains what a cash-free/debt-free purchase is.

[21:55] What are some of the benefits of a stock sale vs. an asset sale?

[23:25] What types of taxes should you be thinking about when you're getting ready to sell a business?

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