About This Practice
*Purchase Price Approved by Lender*
This is a well-established virtual CPA practice with consistent profit (~70%), and an immediate readiness for growth. The owner has refined the practice, team, and operations to be future-focused and highly scalable. The Firm is recognized for its responsiveness and the customized attention it provides to each client. Catering primarily to high-income business owners nationwide, the Firm dedicates 82% of its services to closely held businesses and their owners.
The office is virtual and runs efficiently with proven and effective processes. Referrals stem from existing clients and community professionals, including financial advisors and other CPA’s. Staff are fully remote, well-educated and can manage complex work. Cash flow to the owner is consistently over 70%! It is rare to find this combination of quality clients, superior processes, quality of work, balanced owner hours, and extraordinary profit!
This practice offers many future opportunities including the option to add additional tax advisory services, bookkeeping. The client base could easily grow through marketing as no formal marketing has ever been done.
Highlights:
- High income clients including physicians, dentists, attorneys, and entertainers
- 82% Business clients and their owners
- Cash flow to Owner is consistently over 70%. In 2023, cashflow was 427,676!
- Owner has chosen to maintain size, but there are many opportunities for measured growth
Ideal Buyer:
Owner wants the buyer to be an Owner/Operator. Owner worked at a Big 4 firm and is highly knowledgeable with tax and business advisory services.
With at least 7-10 years of tax experience, the ideal buyer would be outgoing and understand the importance of maintaining personalized client relationships. Work is high-quality and is done as efficiently as possible to ensure flexible owner hours and maximum profit. A buyer who values efficiency and service would do well. Someone with patience to inform and answer questions from clients is necessary. The ideal buyer is an individual or 2 partner firm with experience in both the public and private sectors. CPA is required. The buyer should possess competence in business advisory services as well as tax knowledge.
The owner offers clients high level tax work, tax planning, and business advice. A prospective buyer should be familiar with preparing personal financial statements, valuations for smaller businesses, S election issues, and installment agreements. Experience with offers-in- compromise, IRS audits, and PTE basis issues would be helpful. A buyer possessing these skills would thrive in this practice.
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