Well established, highly profitable CPA firm needs a strong Tax Manager ready to move into a direct entry Partnership. The soon to be retiring owner of the firm has a large, well established book of business consisting of small businesses and individual tax clients. A CPA license is preferred, however the firm will also consider IRS certified EAs (Enrolled Agents.) The Tax Manager will be in charge of tax compliance, planning, review and preparation; and will supervise a small staff of Tax Accountants, bookkeepers, and administrative personnel. They will have direct client contact and responsibility for client representation with the IRS and state tax agencies. Requires candidates with both strong tax technical skills and a very good credit rating, as they will need to qualify for an SBA loan for 75% of the value of the practice. No cash is required as a private investor will put up the 25% cash required in return for a limited equity position. The firm will pay for both interview and relocation expenses, although local candidates are preferred.
• The owner is a partnership. Both partners are retirement age.
• This practice was established in 1989 and revenue is now over $600K. Asking sales price of $750K
• Software in use includes QuickBooks and Lacerte
• Accounting/Write-up work makes up a small portion of the revenue ($26,740)
• Approximately 379 individual tax returns with an average fee of $500 per return
• Approximately 104 business tax returns with an average fee of $1,000 per return
• Approximately 89 other tax returns
• $27,000 +/- revenue is generated via 4 reviews.
• Annual earnings including owner's salary and benefits, personal vehicles and any other non-operational expenses of
the business: $354,000
Positions available nationwide for Tax Managers looking to purchase CPA firms from retiring Partners.
Salary : $100,000 – $150,000