Sold

Culver City

Culver City, CA

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Overview

CPA Firm for Sale in Culver City, CA. This firm is operated by the Seller with limited data entry & admin assistance. Clients are used to working remotely with the seller but keeping a local office, or utilizing the same co-working space as the seller, would be important for transition purposes. Firm gross revenue of $325k is generated from Tax & Bookkeeping services, and with low overhead this firm brings over $240k net to the seller. The practice provides professional services to multiple individuals and entities, of which about 60% are Medical Professionals with Corporations, and the client average age is in the mid 40’s. Please see below for a breakdown by revenue source. Practice uses Drake tax software along with QuickBooks. Much more information is available on the Practice Profile. Please log-in to your account for immediate access including the ability to download the Practice Profile pdf and update your distance preference.

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Financial Highlights

CPA Firm
Annual Revenue $325,000
Annual SDE $242,360
Individual Clients 242
Ind. Avg Fee $495
Entities 114
Entity Avg Fee $900

Revenue Composition

Tax Prep Income $212,277
Bookkeeping Income $45,065
Other Income $67,658

Gross Revenue Breakdown

Tax Return Breakdown:
242 - 1040 @ $495 avg.
93 - 1120/1120S @ $811 avg.
17 - 1065 @ $915 avg.
4 - 1041 @ $431 avg.

Additional Revenue Sources (Gross Revenue)
Misc. Services City Tax/Consulting - $8,238/yr
Prior Year Returns - $1,775/yr
3 Payroll Services w/ 1 ee per client - $2,700/yr
4 Monthly Bookkeeping- $20,400/yr
1 Quarterly Bookkeeping - $3,300/yr
35 Annual Bookkeeping - $21,365/yr

Other Income includes clients on boarded at the end of 2021 and fees realized beginning in 2022.

Confidential Details

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