Huntington Beach #HTB124

CPA firm for sale in Huntington Beach, CA. ref # HTB124. The Seller is looking forward to retirement but will be available to assist the Buyer with continued transition assistance as needed. This practice employs 2 PT and 2 FT employees, most of whom are likely to continue working after the sale, if needed. The Seller and Admin work in the physical office while all other employees work from the office 1 day a week during tax season and from home the rest of the time. The gross revenue of $457k is derived from 303 Individual returns with an avg. fee of $726 along with 93 Entities with an avg. fee of $1,565, plus $115k of income from write-up & payroll. This is a well-rounded firm providing typical accounting services such as monthly write-up, payroll, and tax return preparation for individuals and all entity types. Approximately 35% of clients request an appointment (a majority are via zoom/telephone and only about 10-20 physically in the office), 25% remit their documents electronically, while 20% drop-off, and 20% mail to the office. The office should remain local to the Huntington Beach region for clients who prefer to drop off documents or come in for an appointment. Ideally, a location with close freeway access in Huntington Beach or as far as South Long Beach/Los Alamitos/North Fountain Valley would also work. Practice currently uses Lacerte for tax preparation as well as Practice CS, CSA, Fixed Asset CS, TaxTools & SurePrep. The clientele will transition best to a CPA with a tax background and thorough understanding of accounting. Much more information is available on the Practice Profile, including a more in-depth breakdown of the staff. 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

$500,000

Status

Available

Business Type

CPA Firm

Gross Revenue

$457,150

Net + Discretionary

$181,692

Tax Prep Income

$365,483

Accounting Income

$115,732

Other Income

Individual Clients

303

Average Fee

$726

Entity Clients

93

Average Fee

$1,565

Revenue Breakdown

2023 Entity Average Fee Breakdown:
7 - 1120 @ $2,146 avg fee
19 - 1120S @ $2,126 avg. fee
34 - 1065 @ $1,767 avg. fee
29 - 1041 @ $951 avg. fee
3 - 990 @ $757 avg. fee
2 - 706 @ $36,125 avg. fee*
1 - 709 @ $250

Accounting Services = $115,732
Monthly - 4 Clients
Quarterly - 1 Client
Annual - 2 Clients
Payroll - 17 Clients w/ avg. 3 payees per (13 Live & 4 After-the-fact)
Compilations - 2 Clients - Nondisclosure (no peer review)

Other Services:
Conservator Fees = $21,344*

Total Billed 2023 Revenue = $574,809
*Not Included in sale - Conservator fees, plus the two 706 returns. This is not recurring revenue after 2024 and therefore not included in the sale = ($93,594)
**Adjustment from Accrual to Cash = ($24,065)

Total 2023 Cash Basis Revenue Included in the Sale = $457,150

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.