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 this Westwood (West Los Angeles – close to the UCLA campus) firm has a large, well established book of business consisting of approximately $900K in gross revenue from small businesses and individual tax clients. A CPA license is preferred, however the firm may 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.
SELLER’S MOTIVATION ?? Seller’s motivation is retirement and seller is anxious to strike a deal ASAP. ?? CONFIDENTIAL! Employees are NOT AWARE of Seller’s plans. ?? The proposed sale herein is for 100% of the practice, less family and personal friends. SELLER IS CONFIDENT IN HIS/HER PRACTICE AND TO ENSURE YOUR SUCCESS: ?? Seller is willing to guarantee the gross revenue to a qualified buyer for the first year of possession, but in no event will the adjustment exceed 15% of the selling price. ?? Seller willing to carry a note (financing) for a qualified buyer. (See Page 6) ?? Seller may want to allocate a significant portion of the purchase price to personal goodwill. ?? Seller will be available to aid in the transition for a period of 30 days (longer if required). ?? Seller will be available to work part-time for Buyer during the first tax season, if desired. ?? Seller offers a covenant not to compete of 25 miles and 5 years as to opening a new office and for the state of California as to clients sold. SELLER HAS A PROVEN SUCCESS RECORD: ?? Mature practice (32 years) with loyal and diversified client base. ?? Practice provides very reliable, steady cash flow to enable buyer to service debt and still provide reasonable income (See monthly cash flow page 6) SELLER OFFERS THESE OTHER BENEFITS/FEATURES: ?? Seller may consider a discount for all cash or nearly all cash (make offer). ?? Lease expires on 1/2018 and practice may be relocated to buyer’s premises within reason after expiration of lease. ?? Lease is very reasonable with rent of only $6,260 per month. ?? Great location on well traveled street with good signage. ?? The practice is extremely efficient due to computers / programs / staff. ?? The furniture and equipment are optional.
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 additional cash required in addition to adding value in many other ways, in return for a limited equity position. The firm will consider paying 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.
Salary : $150,000 – $300,000