Practice Overview:
This is a well-established tax and accounting practice located in Lower Manhattan, boasting an impressive net profit margin exceeding 80%. The client base consists predominantly of high-net-worth individuals and closely held professional businesses, ensuring steady and lucrative revenue streams.
Operations and Tools:
The practice currently utilizes UltraTax and QuickBooks for tax preparation and bookkeeping. It operates from a professional office building with the potential for lease takeover. While the Seller prefers transitioning the practice in this current location, a transition to your Manhattan office (Lower Manhattan to Midtown) is possible. Other locations may be considered under suitable conditions.
Transition and Staffing:
The Seller is seeking retirement but is willing to remain part-time to facilitate a smooth transition. The team includes one staff accountant who is highly likely to stay with the practice. This individual is not only experienced but also open to taking on additional responsibilities, adding flexibility and value to the practice. The employee is billed out at the same rate as the owner.
Billing and Profitability:
The practice's billing rates range from $350 to $1,000 per hour, depending on the nature of the work and the client. Notably, the staff accountant is billed at the same rate as the owner, ensuring consistency in revenue generation.
This opportunity offers an excellent platform for growth, particularly for a buyer
