Description:
•Toronto based professional (CPA) accounting firm with a specialization in inbound Canadian payroll, accounting, sales tax, and corporate income taxation for large multi-national corporations looking to expand their business in Canada. •Buyer must be a CPA and able to sign NTR financial statements •Exceptional cash flow to the two retiring partners (2021: $928,901 (71%) 2020: $699,650 (72%)) •Firm has been in existence since 2011 •Service breakdown: Bookkeeping, payroll, sales tax returns 79%; Corporate tax returns (T2) 8%, Tax and accounting advisory 7%; NTR statements 6% •The majority of clients are Canadian subsidiaries of large multinational corporations (mostly in the technology industry). Also have some non-resident corporate clients looking to expand into the Canadian market. Lastly, a small percentage of clients are small to midsize growing local businesses in the technology, gaming, hospitality, not for profit, and online retail industries. •Team of six full time staff including one manager willing to stay on •Outgoing partners to offer excellent transition plan to ensure success of buyer •1,424 SF of modern office in a professional building located in the heart of downtown Toronto •Firm is associated with an international accounting firm under written contract for referrals of Canadian business of multi-nationals, which provides approximately two-thirds of billings and continues to grow. It will be a condition of the sale that the buyer is approved by the international accounting firm.