Practices SOLD
Northern Vermont Practice Profile | |
| Reference No. | VT-6242 |
| Status | SOLD |
| Asking Price | $445,000 |
| Gross Revenue | $425,000 |
| Terms | Substantial down payment required. Balance to be paid over 3-5 years at prime plus one. 7 -10 year outside bank financing available for qualified buyers with good credit history and NO bankruptcies. |
| Client Revenue Mix | |
| Individual Tax Preparation Services | $204,000 |
Business Tax & Accounting Services
| $221,000 |
| TOTAL | $500,000 |
| Other Information | |
| Well-established Northern,VT tax/write-up practice located in a historic district. Seller, who utilizes CCH ProSystem and QuickBooks software, owns the building and will offer a reasonable lease or a lease with an option to buy. Practice has 3 p/t employees and a high net. Seller will provide a smooth transition and consider a consulting role after the sale. | |
Upper Valley, NH/VT Practice Profile | |
| Reference No. | NH/VT-9072 |
| Status | SOLD! |
| Asking Price | $160,000 |
| Gross Revenue | $150,000 |
| Terms | Substantial down payment required. Balance to be paid over 3 years at prime plus one. 7 -10 year outside bank financing available for qualified buyers with good credit history and NO bankruptcies. |
| Client Revenue Mix | |
| Individual Tax Preparation Services | $xxx,000 |
| Business Tax & Accounting Services | $xxx,000 |
| TOTAL | $150,000 |
| Other Information | |
| Well-established practice is looking to sell its Upper Valley tax clients. Client sale would be a nice add on to an Upper Valley firm. Seller, who utilizes CCH ProSystem and QuickBooks software, will provide a smooth transition after the sale. | |
NH Seacoast, NH Practice Profile | |
| Reference No. | NH-1121 |
| Status | SOLD |
| Asking Price | $231,000 |
| Gross Revenue | $210,000 |
| Terms | NEGOTIABLE. 90% down. Remaining balance to be paid over 2 years at prime plus one. 7 – 10 year financing at competitive rates available to qualified buyers with good credit history and NO prior bankruptcies. |
| Client Revenue Mix | |
| Acct’g & Payroll Services | 30,000 |
| Business & Ind Tax Prep | $180,000 |
| TOTAL | $210,000 |
| Other Information | |
| Established in 1979 in a waterfront location. The Seller utilizes Lacerte tax software and Quick Books for G/L and P/R. The office space can be leased from the owner where the practice has been located for 25+ years. An employee would consider staying on after the closing. The Seller will provide a smooth transition and would consider a consulting/production role consulting role after the sale on a fee basis. The practice is very profitable for an owner/practitioner or as an add-on practice | |
Passaic County, NJ Practice Profile | |
| Reference No. | NJ-7203 |
| Status | SOLD |
| Asking Price | $155,000 |
| Gross Revenue | $135,000 |
| Terms | Substantial down payment required. Balance to be paid over 2 years at prime plus one. 7 -10 year outside bank financing available for qualified buyers with good credit history and NO bankruptcies. |
| Client Revenue Mix | |
| Individual Tax Prep | $100,000 |
| Business Tax & Accounting | $35,000 |
| TOTAL | $135,000 |
| Other Information | |
| Well-established EA tax/ writeup practice is a nice start up practice or an add-on to an existing firm. Seller, who utilizes UltraTax and QuickBooks software, operates out of leased space. Practice may be portable to another location with a reasonable distance of the current location. Seller will provide a smooth transition after the sale. | |
Middlesex/Union County Area, NJ Practice Profile | |
| Reference No. | NJ-1026 |
| Status | SOLD |
| Asking Price | $220,000 |
| Gross Revenue | $194,000 |
| Terms | 75-90% down. Remaining balance to be paid over 2 – 3years @ prime plus one. 7 to 10 year financing at competitive rates available to qualified buyers with good credit history and NO prior Bankruptcies. |
| Client Revenue Mix | |
| Individual Tax Preparation Services | $188,000 |
| Business Tax & Accounting Services | $6,000 |
| TOTAL | $194,000 |
| Other Information | |
| Well established tax practice is a great starter practice or a nice add on to an existing one. Practice, which utilizes Lacerte tax software, operates from a home office and will need to be ported to another location within a reasonable geographic area of the existing location. Seller will provide a smooth transition after the sale. | |
Mercer/Hunterdon City Area, NJ Practice Profile | |
| Reference No. | NJ-1182 |
| Status | SOLD |
| Asking Price | $420,000 |
| Gross Revenue | $385,000 |
| Terms | 70 – 90% down. Remaining balance to be paid over 2 years @ prime plus one. 7-10 year financing at competitive rates available to qualified buyers with good credit history and NO prior bankruptcies. |
| Client Revenue Mix | |
| Individual Tax Preparation Services | $244,000 |
| Business Tax & Accounting Services | $141,000 |
| TOTAL | $385,000 |
| Other Information | |
| Well established and highly profitable tax/writeup Hunterdon County practice is a nice addition to an existing NJ practice or a satellite office for a Bucks County, PA firm. The Practice, which utilizes Pro Series and QuickBooks software, operates out of leased office space that expires in 6/23, but has a five year renewal option. Seller will provide a smooth transition and would consider a p/t tax season consulting role after the sale. | |
Passaic County, NJ Practice Profile | |
| Reference No. | NJ-7272 |
| Status | SOLD |
| Asking Price | $1,150,000 |
| Gross Revenue | $950,000 |
| Terms | 80 – 90% down payment required. Remaining balance to be paid over 3 years @ prime plus one. 7 – 10 year outside financing available for qualified buyers with good credit and no prior bankruptcies. |
| Client Revenue Mix | |
| Individual Tax Preparation Services | $246,000 |
| Business Tax & Accounting Services | $696,000 |
| Compilations, Audits & Reviews | $8,000 |
| TOTAL | $950,000 |
| Other Information | |
| Well established full-service practice is an opportunity for another NJ firm looking for a sizable practice with or an out of state firm looking for a presence in New Jersey. The Practice, which uses Lacerte, QuickBooks, Accounting Power and Payroll Relief software, operates with several f/t employees out of a seller-owned office building. Seller is willing to provide a reasonable lease, a smooth transition and would like a part time consulting role after the sale. | |
Northern Monmouth County, NJ Practice Profile | |
| Reference No. | NJ-9192 |
| Status | SOLD |
| Asking Price | $420,000 |
| Gross Revenue | $350,000 |
| Terms | 70 – 90% down. Remaining balance to be paid over 2 years @ prime plus one. 7-10 year financing at competitive rates available to qualified buyers with good credit history and NO prior bankruptcies. |
| Client Revenue Mix | |
| Individual Tax Preparation Services | xxx,000 |
| Business Tax & Accounting Services | $xxx,000 |
| TOTAL | $350,000 |
| Other Information | |
| Well established tax/writeup Practice is a nice add on to an existing one. The Practice, which utilizes Lacerte and QuickBooks software, operates out of a Seller owned office space that may have sublet potential or the practice may be portable to another office within a tight geographic area of the current location. Seller is willing to provide a reasonable lease, a smooth transition and would consider a part time consulting role after the sale. | |
Western Monmouth County, NJ Practice Profile | |
| Reference No. | NJ-7202 |
| Status | SOLD |
| Asking Price | $150,000 |
| Gross Revenue | $125,000 |
| Terms | 70-90% down. Remaining balance to be paid over 2 years @ prime plus one. 7-to-10-year financing at competitive rates available to qualified buyers with good credit history and NO prior Bankruptcies. |
| Client Revenue Mix | |
| Individual Tax Preparation Services | 90,000 |
| Business Tax & Accounting Services | $35,000 |
| TOTAL | $125,000 |
| Other Information | |
| Well established tax/writeup practice is a great starter practice or a nice add on to an existing one. Practice, which utilizes Lacerte and QuickBooks software, operates from office space that may have sublet potential or the practice may be portable to another office within a tight geographic area of the current location. Seller will provide a smooth transition and would consider a part-time consulting role after closing. | |
Ocean/Monmouth County, NJ Practice Profile | |
| Reference No. | NJ-9072 |
| Status | SOLD |
| Asking Price | $120,000 |
| Gross Revenue | $100,000 |
| Terms | 70-90% down. Remaining balance to be paid over 2 years @ prime plus one. 7-to-10-year financing at competitive rates available to qualified buyers with good credit history and NO prior Bankruptcies. |
| Client Revenue Mix | |
| Individual Tax Preparation Services | $50,000 |
| Business Tax & Accounting Services | $50,000 |
| TOTAL | $100,000 |
| Other Information | |
| Well established practice is looking to sell the business and individual tax portions of its practice. This would be a nice add on to an existing firm. Practice, which utilizes Pro Series, Drake and QuickBooks software, operates out of a home office space that will need to be ported to another office within a tight geographic area of the current location. Seller will provide a smooth transition and wants a part-time consulting role after closing. | |
Howell/Freehold Area, NJ Practice Profile | |
| Reference No. | NJ-12100 |
| Status | SOLD |
| Asking Price | $188,000 |
| Gross Revenue | $150,000 |
| Terms | 70-90% down. Remaining balance to be paid over 2 years @ prime plus one. 7 to 10 year financing at competitive rates available to qualified buyers with good credit history and NO prior Bankruptcies. |
| Client Revenue Mix | |
| Individual Tax Preparation Services | $32,000 |
| Business Tax & Accounting Services | $118,000 |
| TOTAL | $150,000 |
| Other Information | |
| Well established writeup/tax practice is a great starter practice or a nice add on to an existing one. Practice, which utilizes ATX and Creative Solutions software, operates from office space with the potential for a sublet. Seller will provide a smooth transition and may consider a part-time tax season consulting role after closing. | |
Somerset County, NJ Practice Profile | |
| Reference No. | NJ-0614 |
| Status | SOLD |
| Asking Price | $125,000 |
| Gross Revenue | $100,000 |
| Terms | 70-90% down. Remaining balance to be paid over 2 years @ prime plus one. 7 – 10 year financing at competitive rates available to qualified buyers with good credit history and NO prior Bankruptcies. |
| Client Revenue Mix | |
| Individual Tax Preparation Services | $47,000 |
| Business Tax & Accounting Services | $53,000 |
| TOTAL | $100,000 |
| Other Information | |
| Well established writeup/tax practice is a great starter practice or a nice add on to an existing one. The Practice, which utilizes ProSeries and QuickBooks software, operates from a home office and can be ported to another location. Seller will provide a smooth transition after the sale. | |
Nassau County, NY Practice Profile | |
| Reference No. | LI-4283 |
| Status | SOLD |
| Asking Price | $315,000 |
| Gross Revenue | $250,000 |
| Terms | 80-90% down payment required. Remaining balance to be paid over 3 years @ prime plus one. 90% Financing available for qualified buyers with no prior bankruptcies. |
| Client Revenue Mix | |
| Individual Tax Preparation Services | $100,000 |
| Business Tax & Accounting Services | $150,000 |
| TOTAL | $250,000 |
| Other Information | |
| Well established Nassau County CPA firm, utilizing Pro Series tax and QuickBooks software, is looking to sell a portion of its tax and write up clients. The Seller will offer a reasonable sub-lease at the current location to facilitate client transition, but the Practice could be portable to a nearby Nassau County location. The Seller will also provide a smooth transition after closing. | |
Rochester, NY Suburb Practice Profile | |
| Reference No. | NY-1082 |
| Status | SOLD |
| Asking Price | $255,000 |
| Gross Revenue | $200,000 |
| Terms | Reasonable down payment required. Flexibility on remaining balance to be paid out over several years at a reasonable rate of interest. 90% ten-year outside conventional financing available for qualified buyers. |
| Client Revenue Mix | |
| Individual Tax Preparation Services | $140,000 |
| Business Tax & Accounting Services | $60,000 |
| TOTAL | $200,000 |
| Other Information | |
| Well established tax practice, in a Rochester suburb, is looking to sell a large portion of its tax clients. Seller owns its office building and is willing to provide a suitable lease or a lease with an option to buy. Practice, which utilizes Pro system fx tax software, has several P/T employees who may be willing to stay on after closing. Seller will also provide a smooth transition after the sale. | |
Rochester, NY Suburb Practice Profile | |
| Reference No. | NY-1111 |
| Status | SOLD |
| Asking Price | $72,000 |
| Gross Revenue | $66,000 |
| Terms | Reasonable down payment required. Flexibility on remaining balance to be paid out over 2 years at a reasonable rate of interest. Limited outside conventional financing available for qualified buyers. |
| Client Revenue Mix | |
| Individual Tax Preparation Services | $45,000 |
| Business Tax & Accounting Services | $21,000 |
| TOTAL | $66,000 |
| Other Information | |
| Well established tax practice, in a Rochester suburb, is a nice add-on to an existing Practice. Seller, who uses the Pro system fx tax software on-line version , operates out of a home office and the practice will need to be ported to another location within a reasonable distance from the current location. Seller will also provide a smooth transition after the sale. | |
Central Suffolk County, NY Practice Profile | |
| Reference No. | LI-5043 |
| Status | SOLD |
| Asking Price | $420,000 |
| Gross Revenue | $340,000 |
| Terms | 80-90% down payment required. Remaining balance to be paid over 3 years @ prime plus one. 90% Financing available for qualified buyers with no prior bankruptcies. |
| Client Revenue Mix | |
| Individual Tax Preparation Services | $277,000 |
| Business Tax & Accounting Services | $38,000 |
| Financial Services | $25,000 |
| TOTAL | $340,000 |
| Other Information | |
| Well established Suffolk County tax/write up Practice is a good opportunity for someone looking for a Suffolk County location or an add on to an existing practice. The Seller, who utilizes Drake and QuickBooks software, has 3 staff who have interest in staying on after the sale. Seller, who owns the office building and would prefer to sell the building as part of the sale, will also provide a smooth transition after closing. | |
Central Suffolk County, NY Practice Profile | |
| Reference No. | LI-4081 |
| Status | SOLD |
| Asking Price | $335,000 |
| Gross Revenue | $250,000 |
| Terms | 60-90% down payment required. Remaining balance to be paid over 3 – 5 years @ prime plus one. 90% financing available for qualified buyers with no prior bankruptcies. |
| Client Revenue Mix | |
| Individual Tax Preparation Services | $50,000 |
| Business Tax & Accounting Services | $200,000 |
| Other Tax Services | |
| TOTAL | $250,000 |
| Other Information | |
| Well established Suffolk County CPA firm is looking to sell most of its business clients. The Practice, which utilizes Lacerte and QuickBooks software, can provide some internal support to the Buyer after the sale. Seller, who owns the office building, will offer the Buyer a reasonable office lease in addition to providing a smooth transition after closing. | |
DC/MD/VA Practice Profile | |
| Reference No. | DE/MD/VA-7193 |
| Status | SOLD |
| Asking Price | $130,000 |
| Gross Revenue | $112,000 |
| Terms | 90% down. Remaining balance to be paid over 1 year @ prime plus one. Short term financing options at competitive rates may be available to qualified buyers with a good credit history. |
| Client Revenue Mix | |
| Accounting Services & Business Tax | $10,000 |
| Individual Tax Preparation | $102,000 |
| TOTAL | $112,000 |
| Other Information | |
| Well established VIRTUAL CPA firm with client concentration in the DC/MD/VA area. The Practice, which utilizes CCH Pro Sys FX tax software, operates out of a home office and will need to be ported from the current location. Almost all clients are serviced through the firm’s web portal. The Seller will provide a smooth transition and may consider a seasonal p/t consulting role after the sale. | |
Bethesda/Rockville Area, MD Practice Profile | |
| Reference No. | MD-1074 |
| Status | SOLD |
| Asking Price | $155,000 |
| Gross Revenue | $135,000 |
| Terms | 80 – 90% down. Remaining balance to be paid over 1 year @ prime plus one. Short term financing options at competitive rates may be available to qualified buyers with a good credit history. |
| Client Revenue Mix | |
| Business Tax Prep | $22,000 |
| Individual Tax Preparation | $113,000 |
| TOTAL | $135,000 |
| Other Information | |
| Well established tax/write-up firm is a good add on opportunity for another local Montgomery County firm or a firm looking for a Montgomery County location. The Practice, which utilizes Lacerte and QuickBooks software, operates out of a home office and will need to be ported to another location. Seller will provide a smooth transition after the sale. | |
Bethesda – Rockville Area, MD Practice Profile | |
| Reference No. | MD-6092 |
| Status | SOLD |
| Asking Price | $85,000 |
| Gross Revenue | $75,000 |
| Terms | 50-70% down. Remaining balance to be paid over 2 years @ prime plus one. Short term financing options at competitive rates may be available to qualified buyers with a good credit history. |
| Client Revenue Mix | |
| Accounting Services | $23,000 |
| Business Tax Preparation | $52,000 |
| TOTAL | $75,000 |
| Other Information | |
| Well established Capital Area tax/ write up firm is seeking to sell a select group of its clients. The Practice, which utilizes ProSeries and QuickBooks software, operates out of a home office and will need to be ported from the current location. Seller will provide a smooth transition after the sale. | |
Washington DC Practice Profile | |
| Reference No. | DC-6231 |
| Status | SOLD |
| Asking Price | $375,000 |
| Gross Revenue | $300,000 |
| Terms | 70-90% down. Remaining balance to be paid over 3 years @ prime plus one. 7-10 year financing at competitive rates available to qualified buyers with good credit history and NO prior Bankruptcies. |
| Client Revenue Mix | |
| Individual & Fidcuciary Tax Preparation Services | $165,000 |
| Business Tax & Accounting Services | $135,000 |
| TOTAL | $300,000 |
| Other Information | |
| Well established tax/ write up firm in the Capitol. Practice, which has four employees and utilizes Pro Series and QuickBooks software, may be ported within a reasonable distance from the current location. Seller will provide a smooth transition after the sale. | |
Southern Montgomery County, PA Practice Profile | |
| Reference No. | PA-1031 |
| Status | SOLD |
| Asking Price | $145,000 |
| Gross Revenue | $129,000 |
| Terms | 70-90% down. Remaining balance to be paid over 2 years @ prime plus one. 7-10 year financing at competitive rates available to qualified buyers with good credit history and NO prior Bankruptcies. |
| Client Revenue Mix | |
| Individual & Fidcuciary Tax Preparation Services | $65,000 |
| Business Tax & Accounting Services | $64,000 |
| TOTAL | $129,000 |
| Other Information | |
| Well established tax/ write up practice is a great starter practice or a nice add on to an existing one. Practice, which utilizes ProSeries, QuickBooks and Sage software, operates out of leased office space and may be ported to another location within a reasonable distance from the current location. Seller will provide a smooth transition and may consider a part-time tax season consulting role after closing. | |
Scranton Area, PA
| |
| Reference No. | PA-1114 |
| Status | SOLD |
| Asking Price | $420,000 |
| Gross Revenue | $380,000 |
| Terms | 70 % to 90% down. Remaining balance to be paid over 2 years @ prime plus one. 7-to-10-year financing at competitive rates available to qualified buyers with good credit history and NO prior bankruptcies. |
| Client Revenue Mix | |
| Accounting Services | $257,000 |
| Ind & Bus Tax Prep | $123,000 |
| TOTAL | $380,000 |
| Other Information | |
Well established writeup/tax practice is a nice add on to an existing Northeast PA firm. Practice, which utilizes QuickBooks and Drake software, operates out of leased office space with an assumable lease. Seller will provide a smooth transition and may consider a part-time tax season consulting role after closing. | |
Berks/Schuylkill Counties, PA
| |
| Reference No. | PASI-6172 |
| Status | SOLD |
| Asking Price | $299,000 |
| Gross Revenue | $250,000 |
| Terms | 70 % to 90% at closing with the remainder to be paid over 3 years @ prime plus one. |
| Client Revenue Mix | |
| Individual 1040’s | $210,000 |
| Business Returns & Misc. | $40,000 |
| TOTAL | $250,000 |
| Other Information | |
With a motivated seller, this practice has been serving clients and the community for over 40+ years. This Tax practice is a sole proprietorship with hundreds of clients. The practice is portable within a reasonable distance. This practice uses ATX software. The Seller will provide a smooth transition after the sale. | |
Monroe/Northampton County Area, PA
| |
| Reference No. | PASI-6109 |
| Status | SOLD |
| Asking Price | $685,000 |
| Gross Revenue | $546,000 |
| Terms | 80 – 90% down payment required. Remaining balance to be paid over 3 years @ prime plus one. Outside conventional financing available for qualified buyers with no prior bankruptcies. |
| Client Revenue Mix | |
| Individual Tax Preparation Services | $188,000 |
| Business Tax & Accounting Services | $358,000 |
| TOTAL | $546,000 |
| Other Information | |
| Well established tax/write-up practice, located in a Northhampton County business district, is a turn key operation for a firm looking for a second office or a sole practitioner looking to make a move to another level. The Practice, which uses CCH Pro Series and QuickBooks software, has 3 f/t employees, who would be willing to stay on after the sale. Seller, who owns the office building, prefers to sell the premises outright, but may consider a reasonable lease with an option to buy. The Seller will provide a smooth transition and may consider a part time consulting role after the sale. | |
Lehigh County, PA
| |
| Reference No. | PA-8420 |
| Status | SOLD |
| Asking Price | $265,000 |
| Gross Revenue | $220,000 |
| Terms | 80 – 90% down payment required. Remaining balance to be paid over 3 years @ prime plus one. Outside conventional financing available for qualified buyers with no prior bankruptcies. |
| Client Revenue Mix | |
| Individual Tax Preparation Services | $109,000 |
| Business Tax & Accounting Services | $111,000 |
| TOTAL | $220,000 |
| Other Information | |
| Very well established tax practice, with high net worth clients, is a good opportunity for a firm looking for a second office in Lehigh County or a simple add on to an existing Practice. This Practice, which uses UltraTax and QuickBooks software, operates with 1 P/T employee and has an office lease expiring in December 2020. The Practice can be ported to an existing office within a reasonable distance from the current location or lease can be arranged with the Landlord. Seller will provide a smooth transition after the sale. | |
Bucks County, PA
| |
| Reference No. | NASI-1212001 |
| Status | SOLD |
| Asking Price | $65,000 |
| Gross Revenue | $50,000 |
| Terms | 70–80% down. Remaining balance to be paid over 3 years @ prime plus one. Financing at competitive rates available to qualified buyers with good credit history and NO prior bankruptcies. |
| Client Revenue Mix | |
| Individual Tax Preparation Services | $35,000 |
| Business Tax & Accounting Services | $15,000 |
| TOTAL | $50,000 |
| Other Information | |
| Well established tax/ write up firm in Bucks County with 0, full/part time employees. Seller utilizes QuickBooks and ATX software. No office space is available. Seller will provide a smooth transition and consider a part time consulting role after the sale. | |
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