Lake Forest
Lake Forest, CA
Overview
CPA firm for sale in Lake Forest, CA. The CPA Seller is ready to retire and is looking to sell the entire practice. The firm was established by the Seller over 30 years ago and has been operating in its current location for the last 7 years. Gross revenue of $525k is derived from 165 Individual returns with an average fee of $1,037 along with 121 Entities with an average fee of $2,840, plus 1 Review for $8,200 and 3 Compilations. Seller owns the current location which can be leased, purchased, or the firm can be moved to another location within the region. Practice currently uses Lacerte for tax preparation as well as Quickbooks, CFS, and Number Crunchers. Most clients will drop-off and mail their tax documents for return completion, but approximately 3% like to come in for an appointment. The clientele will transition best to a CPA with an extensive background in tax and who will care for the clients in the years to come.. 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.
If you don’t have an account please complete the Buyer Profile and NDA online (It will take less than 2 minutes). Once that form is submitted your account will be created and you can download the practice profile immediately. If you’ve already completed the Buyer Profile and NDA then you can log-in to our website using your email and created password (or use the forgot password link to reset password) and download this profile.
Financial Highlights
CPA FirmRevenue Composition
Gross Revenue Breakdown
165 - 1040 @ $1,037 avg. fee
6 - 1120 @ $6,640 avg. fee
36 - 1120S @ $5,107 avg. fee
34 - 1065 @ $1,618 avg. fee
41 - 1041 @ $1,055 avg. fee
2 - 990 @ $2,624 avg. fee
2 - 706 @ $8,203 avg. fee
1 Review @ $8,200
Seller does not have the ability to separate tax fees from other services provided until they go through each invoice. That can be accomplished and provided after an introductory call and both parties agree to move forward. The fees above will include bookkeeping, write-up, etc. One client is large with over 30 state returns. The top 5 clients generate roughly $125,000.
Most clients will drop-off and mail their tax documents for return completion, but a few like to come in for an appointment. Almost all client interaction is handled on the phone with a few via email.