CALIFORNIA

This four-partner CPA firm is a boutique tax practice specializing in accounting and tax services for mid to high-net-worth families and their entities. The firm’s services include equity compensation tax services for tech and biotech founders, S-Corp formation, and foreign income reporting. The firm’s owners have meticulously designed every aspect of the business to ensure top-quality work, high productivity, and exceptional customer service. The service mix is 57% personal tax returns, 29% business tax, and the rest of the book consists of consulting and accounting services. 2023 gross income was $3,344,783 and on accrual basis was $3,687,000. Their average revenue growth is approximately $400,000 for the past three years.

With 6 CPAs and 1 EA, this firm is well-equipped to handle high-level tax problems by being solution-oriented and proactive. Their personable approach and passion for what they do is felt among the clients who entrust them. Clients are very loyal, often providing further referrals. The clientele includes attorneys, corporate execs (Google, Apple, Amazon, etc.), tech founders, and top real estate agents. This practice attracts and maintains high-quality clients who see the value in the quality work, exceptional service, and overall client experience.

All partners are looking to retire in the next 2-5 years and want to find an entrepreneurial buyer who will continue to grow the firm, keep the strong legacy, and take great care of their employees and clients.

This is a rare opportunity for a buyer seeking an exemplary practice with a great reputation, strong fees, qualified staff, growing margins and a sought-after book of clients.

Firm Highlights:
-4 CPA owners and over 10 highly qualified employees
-The management team has 7-29 years of experience at the firm
-All owners are available and flexible to stay with the practice post-sale either full or part-time
-5% growth YTD in cash receipts – the firm typically grows about $400,000 a year and with extra capacity, the growth can be much higher.
-Their referral network of professionals has been fostered for over 30 years including investment advisors, specialty investment firms, tax attorneys, and realtors
-Many long-term clients have large family networks and have net worth’s ranging from $25 million to several hundreds of millions. The age range, longevity, and personal wealth of these
clients is highly desirable.
-The average tax return preparation fee for personal and business is approaching $5,000 per return.

Ideal Buyer:
The owners have created and built a proven operation that clearly stands out in the industry as a leading provider and brand. The ideal Buyer will be business savvy, a proven leader, and will have strong experience in operations and strategic business development. A buyer should be adept at working with high-net-worth clients, ranging from $25 million to several hundreds of millions, and will need to be skilled in coaching the founders through rapid growth and exit strategy (including IPOs).

Strong recruiting skills will be ideal for quickly expanding capacity and fostering growth. A buyer who appreciates the qualities of this 30+ year firm and shares a passion for the tax accounting business will excel. There are many buyer scenarios for this firm including a larger CPA firm, private equity or individuals with strong tax experience. An Ideal Buyer will effectively manage the practice and allow the partners to focus on technical work and client service.

This is a rare opportunity for a buyer seeking an exemplary practice with the highest level of client service.

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