Description:
• Two owner Tax and Accounting CPA Practice • Revenue mix is roughly 38% Accounting Services, 58% Tax Preparation Services and 4% Consulting Services • Tax Preparation Revenues are approximately 59% Business Returns, 32% Individual Returns and9% State, Trusts and Other Type Returns • Owners' Discretionary Cashflow is nearly 70% of revenue • Practice uses ProSystems FX tax software and Quickbooks software for accounting services • Five professional staff employees • Office space is leased until 11/30/21 • Owners have different post-sale goals: one seeks to pursue a different business opportunity currently performed on a part-time basis, the other would prefer remaining with the practice only as a tax preparer/reviewer being rid of administrative responsibilities. Each partner currently works in the practice only about 30 hours per week. Both anticipate assisting buyer through an appropriate transition period to maximize knowledge transfer and client retention.