NEW JERSEY
| REF | STATE | LOCATION | ANNUAL GROSS $ | STATUS | PRIVATE SALE / BROKER |
|---|---|---|---|---|---|
| 4984 | NJ | Philadelphia Area | $375,000 | sold | ABA Advisors, LLC |
This long-established firm went virtual in 2020. 50% of revenues are from recurring monthly and quarterly accounting services and the related tax returns. There are only 100 1040s prepared with an average fee over $1,050 each. A new owner ideally could be located anywhere near the Philadelphia / South New Jersey area. Seller’s discretionary earnings are expected to be about $210,000 in 2024 (56% of revenue).
This single owner practice is a perfect opportunity for a CPA who wishes to strike out on their own or for an existing firm looking to acquire a strong book of business. There is low concentration risk as no single client represents over 10% of revenue.
The owner has grown the firm for over 40 years and is eager to assist in smoothly transitioning the clients and staff to a new owner. The seller is interested in working part-time for the buyer after the sale. Software is UltraTax and QuickBooks.
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