VIRGINIA

The firm is a home-based sole practitioner practice. The seller is a CPA who established this firm over 20 years ago. The practice is ideal for a CPA who wishes to realize their dream of becoming self-employed. The firm provides a substantial mix of services which the buyer will need to be qualified to perform. The practice is unusual in that it performs several audits and reviews, all of which are of nonprofit organizations. The nonprofit engagements make this a year-round practice and reduce tax season compression. The practice does not offer payroll services and does minimal bookkeeping. The concept is to provide high-level professional services appropriate for a CPA working in public accounting.
Firm revenues consist of:
66% Tax preparation and planning
24% Audits and reviews
10% Bookkeeping and advisory services
The goal of this firm has always been to have the best clients, not the most. A substantial number of the tax clients are high income or high net worth individuals. Also, the focus has always been on recruiting business clients. Therefore, there are numerous clients for whom multiple tax returns are prepared and involving many complex tax issues. Current tax software is UltraTax.
This firm is a great opportunity for either someone wishing to build a larger firm or a small firm wishing to quickly increase their clientele. The firm can easily be grown through the addition of personnel and marketing or networking efforts. Local practice with a concentration of clients in Virginia Beach and Norfolk, Virginia.