SOLD – This long-established firm went virtual in 2020. 50% of revenues are from recurring monthly and quarterly
accounting services and the related tax returns. There are only 100 1040s prepared with an average fee over
$1,050 each. A new owner ideally could be located anywhere near the Philadelphia area. Seller’s discretionary
earnings are expected to be about $210,000 in 2024 (56% of revenue).
This single owner practice is a perfect opportunity for a CPA who wishes to strike out on their own or for an existing
firm looking to acquire a strong book of business. There is low concentration risk as no single client represents
over 10% of revenue.
The owner has grown the firm for over 40 years and is eager to assist in smoothly transitioning the clients and staff
to a new owner. The seller is interested in working part-time for the buyer after the sale.
