Tax Partner in Ventura at Apple & Associates

Date Posted: 5/17/2018

Job Snapshot

  • Employee Type:
    Full-Time
  • Location:
    Ventura
  • Job Type:
    Accounting
  • Experience:
    Not Specified
  • Date Posted:
    5/17/2018

Job Description

Well established and  highly profitable CPA firm located in Ventura County, CA, is searching for a direct entry Tax Partner. The current owner is looking to sell the practice as he is moving out of state.  Candidates must be a public accounting Tax Manager or Partner who is a licensed CPA or EA with a FICO score of over 750 and no prior bankruptcies, in order 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 all cash and add value in many other ways in return for a limited equity position.

Business Description

No attest - 52% Accounting / 48% Tax

Highly profitable CPA, accounting and tax firm for sale in west side of Ventura County. This firm performs no attest work, and therefore it is a perfect firm for an Authorized CPA to expand services, or for a Qualified CPA or high-end bookkeeper/EA to continue the current growth. 

The $587K revenue nets 40% and is generated from approx. 60 monthly clients consisting of payroll only to write-up accounting and represents 52% of revenue, while the 48% is tax work for approx 400 personal and business tax returns. 

3 employees plus owner with 2 seasonal help. Custom website with blogs and several domains to enhance web presence. Owner is willing to stay on for transition. 

Special projects revenue (not included in total revenue) was in excess of $500K from 2016-2017. This one-off work reflects the ability of the firm to generate a much higher income level then scheduled. 

Approx 150 returns on extension - waiting to generate approx $125K in cash flow - now!

Detailed Information

Real Estate:
Leased
Building SF:
3,800
Lease Expiration:
11/30/2020
Facilities:
Current lease - 3,800 sq.ft. of which 2,800 sq.ft. is dedicated to accounting firm, while the balance is partially sub-leased and remainder used for owner's personal use. Lease expires 11/2020 Office Suites are recently remodeled consisting of: * 2 14x10 window offices * 3 executive style over-sized 14x16+ (2 with full window) * 1 mutli-person 11x17 office * break room * reception * waiting area * large 14x20 conference room $25K ASSETS-additional $: New raid equipped server & linux back-up and file share server 2018. Details Avail.
Competition:
Firm utilizes an in-house developed marketing system to obtain/retain write-up accounting clients, which enables the firm to expand as needed. This process will be presented with the sale of business.
Support & Training:
Owner willing to provide reasonable phase-out and transition assistance. Training on current systems (software) and processes, including the sales process will be included.
Reason for Selling:
Owner will be relocating out of state.

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