SOLD
Virtual Lake Oswego CPA Practice
Listing #
V1011
Location
Oregon
Annual Revenue
$470,730
Asking Price
$740,000
Type
CPA
Presented by: |
The A Team |
Toll Free: (888)783-7822x3 |
Description:
The asking price is $740,000, reflects 1.5x revenue and only 2 times the cash flow of $370,000. The seller has built a solid practice with strong average fees and clients billed monthly in advance through ACH ensuring a steady and above-average cash flow. As a result, $160,000 in advance fees is estimated to be transferred to the buyer at close for work to be performed; this projects a September 1 close. That figure may vary depending on actual close. This is a rare opportunity that significantly boosts initial working capital. Essentially, the upfront cash outlay is $160,000 less compared to a similar practice without prepaid fees.
Additional practice details:
• The owner is a CPA
• This practice was established in 2012
• Annual cash flow including owner's salary and benefits, personal vehicles, and any other non-operational expenses of the business: $370,210 (2023)
• Software in use includes UltraTax CS, Planner CS, SmartVault, QB Online/Desktop, Ignition
• Approximately $18,120 in annual revenue, via bookkeeping (7 clients)
• Approximately 90 individual tax returns with an average fee of $1,190 per return
• Approximately 88 business tax returns with an average fee of $1,790 per return
• Approximately 19 dependent tax returns with an average fee of $320 per return
Additional practice details:
• The owner is a CPA
• This practice was established in 2012
• Annual cash flow including owner's salary and benefits, personal vehicles, and any other non-operational expenses of the business: $370,210 (2023)
• Software in use includes UltraTax CS, Planner CS, SmartVault, QB Online/Desktop, Ignition
• Approximately $18,120 in annual revenue, via bookkeeping (7 clients)
• Approximately 90 individual tax returns with an average fee of $1,190 per return
• Approximately 88 business tax returns with an average fee of $1,790 per return
• Approximately 19 dependent tax returns with an average fee of $320 per return
• Approximately $8,400 in annual revenue, via other (6 returns)
• Lease N/A
• Lease N/A
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