Denver CO Tax Practice

Denver, CO (Denver County) (Relocatable)

Denver CO Tax Practice
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Asking Price: $399,000

Cash Flow: $217,567

Gross Revenue: $365,000

EBITDA: N/A

FF&E: $5,000

Inventory: N/A

Rent: $1,450 /Month

Established: 2001

Denver CO Tax Practice

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Business Description

Cherry Creek area TAX only CPA practice grossing $ 365,000. Cash flow to owner is 59% of gross or $ 218,000. If the firm is acquired by another existing CPA firm then $ 19,500 of rent and phone could be eliminated and increase the Cash Flow to Owner to 65% of gross revenue.

The Practice has 3 employees: owner and two P/T staff. One is a "fabulous" CPA candidate and likely would stay with the new owner as needs time with CPA to obtain CPA license. The other is a P/T office manager who likely will not continue with a buyer. This practice currently produces a apx 500 tax returns annually with solid average fees! 350 -Form 1040s; 80 -1041s; 31 -1065s; 40 -1120S; 5 -1120; 4 -990s; and 3 -706s. The practice has a lease that ends in June, 2020 and rent is $ 1,450/month. The buyer may move the practice within a reasonable distance from the area. Firm uses Lacerte tax software and Quickbooks. No bookkeeping or payroll services are provided by the practice.

Detailed Information

Location:
Denver, CO
Real Estate:
Leased
Building SF:
1,000
Lease Expiration:
6/30/2020
Employees:
3
Furniture, Fixtures, & Equipment (FF&E):
Included in asking price
Facilities:
Leased
Competition:
Substantial
Growth & Expansion:
Great opportunity for existing firm to tuck in this practice with their existing practice and grow through acquisition and a great size for an existing CPA tax senior or manager with another firm to go out on their own.
Financing:
36500
Support & Training:
Seller will provide the necessary transition assistance over a year from sale date
Reason for Selling:
Work in private industry
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(from currently available funds)
 
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Thomas Lang

Business Listed By:
Thomas Lang

Thomas Lang CPA Broker

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Memberships & Certifications:
Indicates membership in The Colorado Association of Business Intermediaries (CABI).

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