Los Angeles #LOS225

Overview

CPA firm for sale in Los Angeles, CA. This Firm has been operating in the city of Los Angeles for the past 4 years and the Seller is looking forward to new opportunities outside of LA. This is not a partial sale and the Seller is only interested in a Buyer who is open to buying the entire firm. The firm currently operates utilizing a Regus suite in Los Angeles, but the Seller prepares all returns remotely from a home office, mostly from out of state. Approximately 90% of clients electronically remit all documents for tax filing, while 10% will mail to the Regus suite, which is then forwarded to the Seller. If a client meeting is necessary then it’s handled through Zoom. The gross revenue of $212k is derived from 242 Individual tax returns with an average fee of $425, plus 133 Entities with an average fee of $551 (see breakdown below), $30k from Bookkeeping/Accounting revenue, $2k of Payroll, and $3,500 of Consulting/Tax Planning revenue. There is no staff employed at this firm and the Seller performs all Admin and Professional duties. The Seller is open to helping the Buyer with transition after the sale but prefers not to continue preparing tax returns. Practice currently uses UltraTax for tax preparation along with QuickBooks and Xero. The clientele will transition best to a CPA or EA with an extensive tax and accounting background.

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