Professional Practices

Unique professional practice challenges.

Professional practices — including attorneys, architects and appraisers — face a number of financial and accounting challenges that are unique to their particular industries.

Here at O’Brien and Panchuk, we have helped professionals and solo entrepreneurs deal with the following tax and accounting issues:
Buy-sell agreements
We often encounter buy-sell agreements with vague valuation clauses that leave a lot of uncertainty when it comes to valuing the ownership interest that’s being bought or sold. Buy-sell agreements should include an agreed-upon valuation formula with a clear definition of the related metrics used to value the practice.
Practice valuations
Valuation issues often arise when a practice is being sold or an owner is conducting succession planning. Thorough research should be performed — including examination of national operational and valuation metrics — to help buyers and sellers form independent opinions with regard to a practice’s value.
Succession planning
Getting started early is critical when it comes to succession planning. Before exiting the business, a professional’s focus must shift from minimizing taxable income to maximizing profits in order to make the practice more attractive to prospective buyers. Making accurate tax-structured sales projections can also help reduce the overall tax burden in a sale.
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Let us help you with your Professional Practice Accounting

We’re a progressive Tax CPA firm that focuses on each on our clients’ needs and circumstances to provide tailored services and solutions that address their situation. It’s not the “one size fits” all approach that you find at the big box store—it’s a calculated and measured process to ensure that the result is only the very best.

“Great work follows great fit. We  promise our clients award‑winning and  strategically designed experiences for a  digitally driven world.”

Israel morris | business OWNER

In 2007 I started a non profit 501c3 corporation to promote arts programs in public elementary schools. I was in need of a reliable professional accountant that could help me through the process of implementing a strong and well planned accounting program. Max Panchuk was recommended and his support, skill, and dedication has been more than I ever expected.

Steve Petersen, CEO | Steve Petersen Productions, Inc. 501c3

“Great work follows great fit. We  promise our clients award‑winning and  strategically designed experiences for a  digitally driven world.”

Thomas Doe | business OWNER
Call us: (760) 424-2246