About This Practice
This is a very well-established CPA firm for sale. There is no audit work, as the firm primarily focuses on tax. The average fees of the practice are fairly high. For example the average individual tax return fee is almost $550. The cash flow to owner exceeds $ 200,000 per year. Their approach to tax is described as somewhat conservative. The client base is diverse- with clients in a number of different businesses/professions. Clients appreciate the way the practice explains their tax situation to them in simple, easy-to-understand language. The practice is very service-oriented. It could definitely be described as a client-focused practice. There are experienced, capable, long-term staff in place, and owner hours are reasonable. For a tax practice, the workflow is somewhat steady throughout the year.
IDEAL BUYER
The perfect buyer would have about 10 years of public practice experience and be able to prepare and review tax returns accurately and efficiently. He or she should be able to relate well to people from all walks of life to communicate with this diverse client base. The purchaser should be able to simplify tax matters for clients and be able to articulate taxation in plain language. He or she should also be dedicated to providing timely, friendly service. A new owner could grow the tax planning revenues of this practice with very little effort; as there is some untapped demand for additional planning services.
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