Description:
Primarily a tax practice with individuals and small businesses. Gross billings are $250K/year, and this is the only portion of the business being sold. This client base consists of about 250 individual clients; 25 fiduciary clients (trust and estates); and another 50+ corporations, LLCs, partnerships, and S Corps. They use Lacerte tax software. The practice is very seasonal, with 2/3 of billings by 4/15 each year. Miscellaneous tax consulting and tax projections make up the rest of the business. Fees for individual returns range from $450 (minimum fee) - $900, with a few more complicated returns being billed at $2,000. Corporate and LLC returns are billed at about $1,100.