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. Positions available nationwide for Tax Managers looking to purchase CPA firms from retiring Partners.
Practice Details: Highly profitable CPA firm located in the Milwaukee WI Metro Area. This firm has been in business for over 15 years and has a solid mix of tax preparation, write up and bookkeeping clients with other accounting and payroll services as well.
Note: Owner will consider revenue guarantee and seller financing!
Annual Revenue: Revenue pattern is growing annually with 2016 at $1,400,000 with 2017 projected at 1,500,000.
Owners Cash Flow: Approaching 50% of gross revenue.
65% business and personal tax preparation
25% monthly and quarterly accounting services
10% other accounting services
Staff: Experienced and knowledgeable staff will stay on with new owner, plus seller will provide transition support.
Facilities: Situated in a high traffic office building location with multiple offices for management and staff, plus reception area and conference room.
Furniture and Equipment: Networked computers, scanners, printers, work stations, etc. and software and all office furniture and equipment included in price.
Software: Accounting: Quick Books Tax Prep: Ultra Tax
Salary : $200,000 – $300,000