Fullerton

CPA firm for sale in Fullerton, CA. This Sole-Proprietor firm was established by the Seller over 31 years ago and has been operating in its current location for 17 years. The Seller is looking forward to retirement but is willing to work for up to a year to help with transition. Approximately 5% of clients come in for an appointment while the other 95% upload their documents to the Seller for completion. The clientele is comprised largely of Asian Indian community members who primarily speak English. Through the work of an out-sourced staff, this firm provides tax preparation, bookkeeping, payroll, accounting services and entity formation services (e.g., Corp’s, LLC’s, etc.). There is no lease to assume but the office is available to lease if the buyer wants to remain in the same space. Otherwise, since a large majority of clientele are virtual, the practice may easily be relocated to another location.  Practice generates approximately $100k from 157 individuals with an average fee of $640, 58 entities with an average fee of $1,471, $62k from payroll & bookkeeping services and $51k from other miscellaneous accounting related services. The software used consists of Lacerte, ProSeries, Drake, QuickBooks and Canopy to facilitate the needs of their clients. The Seller is looking for an EA or CPA who is friendly and personable that will be able to bond and care for the clients. They should be able to become confident personal advisors to the clientele. 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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Price

$350,000

Status

Sold

Business Type

CPA Firm

Gross Revenue

$298,870

Net + Discretionary

$270,573

Tax Prep Income

$185,780

Bookkeeping Income

$62,080

Other Income

$51,010

Individual Clients

157

Average Fee

$640

Entity Clients

58

Average Fee

$1,471

Revenue Breakdown

Entity Average Fee Breakdown:
7 - 1120 @ $2,100 avg. fee
34 - 1120S @ $1,400 avg. fee
14 - 1065 @ $1,500 avg. fee
2 - 1041 @ $750 avg. fee
1 - 990 @ $500 avg. fee

Accounting Services:
20 Payroll Clients with an avg. of 5-7 payees per client - Total Revenue $31,871
10 Bookkeeping Clients - Total Revenue - $30,210
Other Accounting Related Services & Entity Formation Fees - Total Revenue $51,010

Please complete the Buyer Profile and NDA to instantly receive additional information. Once the webform has been submitted you will be redirected to webpage where you can download the Practice Profile pdf for any practice(s) you are interested in. If you previously submitted a buyer profile and NDA with us you can resubmit to be added to our new download system, or contact us for the Practice Profile. You can come back anytime to log in with your username and password and download additional practice listings. Please contact us at (855) 428-2225 or via email at steve@atbcal.com.