If you’re planning to sell your CPA firm, be prepared—questions will come from every direction. Whether you’re speaking with potential buyers, financial institutions, landlords, or brokers, each party will want specific information. Some inquiries will be general, especially early in the process, but they’ll get more detailed as negotiations move forward and due diligence begins.
While none of the questions are overly complicated, having clear, thoughtful answers ready can build trust and move your deal forward efficiently. Below are some common questions you’ll want to be ready for.

Can You Describe Your CPA Firm?

You’ll need to explain the nature of your business: What services do you offer? How many clients do you serve? What are your fee structures? You should also be prepared to share a bit of history about your firm and its client relationships.

Why Are You Selling the Business?

Motivation matters to buyers. If you’re retiring after a long and successful career, most buyers will understand and feel confident in your decision. But if you’re younger and vague about your reasons—perhaps citing “burnout” with no follow-up—that might raise red flags. Buyers are more comfortable when they understand the seller’s next steps, whether it’s retirement, a job change, or a move.

What Can You Tell Us About Your Team?

Buyers will ask about your staff. How long have they been with the firm? What are their qualifications? Are they nearing retirement? Could any of them become future competition? If someone internal could be a buyer themselves, that’s important to disclose early.

Who Are Your Clients?

Buyers need to understand your client base. Are your clients mostly in one industry? Is there a cultural or language focus? For instance, if a large portion of your clients are in real estate or require Korean-language services, that’s something a buyer needs to know. You should also be upfront if any one or two clients make up a significant percentage of your revenue.

What Does Your Ideal Buyer Look Like?

This goes beyond “someone who can pay.” Think about the kind of person your clients would be comfortable with. What experience, demeanor, or background would best suit the culture of your firm? A good answer shows you’re thinking not just about money but about the long-term fit.

What Do You Expect from a Broker?

Some sellers want a broker to bring a list of qualified buyers. Others want help managing negotiations or overseeing a smooth, organized transition. Be honest about what you need so your broker can best support your goals.