Description:
This growing Tax & Accounting Practice for in the Iowa City area has gross revenues of approximately $525,000. The firm revenue is nicely balanced between tax and year-round accounting/payroll with roughly 1/3 of all tax revenue earned outside of tax season providing nice year-round revenue. The firm is a respected leader in its community and has a strong niche in the construction industry which is growing rapidly in the area. 2022 is on track to meet or exceed 2021 results. From an operational perspective, the owner has purposefully overstaffed the practice in a way so that he can run the practice with little to no day-to-day involvement. This added with strong paperless systems in place, allow the practice to provide efficient quality client service to keep customers returning year over year. The seller works about 30 hours per week during tax season and plans to work about 15-20 hours during the off season. The seller does most of their work remotely as almost all clients are used to dropping off. Out of 500 returns this season, the seller met will less than a dozen clients face to face.