Los Angeles #LOS326

Overview

Established CPA firm with a book of clients for sale in Los Angeles, CA. The Seller is looking to reduce their workload in anticipation of eventual retirement. The Seller is retaining one major client group in order to continue working on a limited basis; however, the Seller will provide a non-compete and does not plan to take on any new business after the sale.

The firm is currently located in the Wilshire Corridor. Approximately 99% of the work is completed remotely, either by mail or digitally, with only about five or six clients coming into the office. Although the firm is primarily remote, the Buyer should retain a location in the Los Angeles area to accommodate the limited number of in-person clients and to support retention after the sale. The Seller is available to provide transition assistance after the sale.

This opportunity is well suited for a CPA or small CPA firm seeking to expand in the Los Angeles market. It is important that the Buyer be able to continue providing the review engagement, as this service is provided to one of the firm’s larger clients. The Buyer should be prepared to provide their own support staff, as the other CPA currently assisting with these clients is expected to retire when the practice is sold. The Seller will be available as needed to assist with transition, client introductions, and continuity after closing.

Gross revenue of approximately $275,000 is generated from 89 individual 1040 clients with an average fee of $731, 93 entity tax returns with an average fee of $1,126, and approximately $105,000 in additional accounting services revenue. These additional services include one review engagement, four compilations, monthly and annual accounting, and miscellaneous services such as 1099 preparation, Form 571-L filings, projections, tax planning, and other related services.

The practice currently utilizes Lacerte for tax preparation, along with QuickBooks, 1099-ETC, and OfficeTools for billing.

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