Description:
• Sole owner CPA practice • 2020 Revenue Projection $390k • Revenue mix is 80% tax preparation (53% Individual, 37% Business, 10% Other): 18% accounting and 2% payroll (through payroll processing service) • Discretionary cashflow to the owner is 60% of revenue • Software used is Ultratax and Quickbooks • One full-time employee who works on all services performed for clients • Practice offices are in a professional office building • The owner is looking to move out of state in 2021 and is willing to work for the buyer through the April tax filing season and be of assistance to maximize client retention and transfer of knowledge regarding clients' information