When to sell your accounting practice?

So if your office is in the middle of a liquor store, does the liquor store feature add value to your tax practice when it is time to sell?  

Before it is too late. I helped a friend by a small practice from the sister of the practitioner that died at his desk on October 10. He was living with his sister in a small retirement community after moving this practice to being remote from the small home office. 

I sold my practice too soon. I picked 65 to sell. Fortunately I sold for a high enough price to make retirement financially successful, but I was amazed at how much I miss the challenge of this business. 15 years later I am still here and working seasonally with some old competitors. I also love hovering around this site and I do have my stash of Fireball, both candy and booze, so I am quite content with life.

My Father (a Lacertian) kept his practice when he downsized to "work from home" in a senior living apartment. He picked up a few clients from that building. But he started to be demented and didn't do his own taxes. It's an example of the study that found music and other busy work tends to keep the dementia at bay for that specific task, I guess.

When I finally had to go in person to deal with his end of life issues, I found quite a mess. I went to his "coordinator office" (a shared workspace that really just gave him a business address and a receptionist when needed) and shut everything down. Then I went to the nursing home and told him, "Dad, you're retired."

So at that point, there is nothing left to sell.

And don't overlook the issues of record retention.

I also shut off his Lacerte license (with the help of folks here) and the IRS authentications.