3-LOI Series: The Retention Adjustment
The second most important term in an accounting practice buyout is your retention adjustment. You’ll want to discuss the gross revenue amount (guaranteed amount) and the manner in which you’re reducing the purchase price (dollar for dollar) under that amount. The term of this is 1-2 years and a buyer should consider whether new clients are considered as a part of the guaranteed amount.
Music - Glitter Blast - Kevin MacLeod
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4-LOI Series: SBA Requirements - Seller Notes and Seller Upside
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