GREATER BOSTON AREA SOLO TAX PRACTICTIONER

Greater Boston area solo tax practitioner is retiring; looking to sell. Tax services consist of individuals (31%), business returns (30%), trusts (19%); bookkeeping (17%) and payroll (3%).  I have built up long-term relationships with my clients.  My clients are timely, and cooperative. I have a home office practice, no employees.  A number of my clients retired in the last year and dissolved their businesses, and I have not been taking on new clients for a couple of years.  I am selling my client list, records, and I am willing to provide whatever assistance is needed to ensure that the transition is smooth.  Gross revenue in 2021 is $65,000.  Asking $55,000. Please respond to kwells@masscpas.org.

Market

• Please list your firm’s top 5 practice areas (by revenue): Taxation: 80%, Bookkeeping and payroll: 20%. Taxation: Individuals 31%, Trusts 19%, Partnerships 15%, Corps and Sub S 15%
• Please list your firm’s gross revenues for the past 5 years: 2021: $65,825,  2020: 84,750,  2019: 70,630,  2018: 85,885,  2017: 90,000

Leadership & Staffing

• Single owner or multiple owners?: Single
• How many owners will want to remain a part of the practice after the sale?: 0
• How many leaders (not including owners) are there?: 0
• How many leaders (not including owners) will want to remain a part of the practice after the sale?: 0
• Will you be selling outright and plan to retire?: Yes
• How many existing technical staff are willing to stay after the sale?: 0
• How many existing administrative staff are willing to stay after the sale?: 0

Financing

• Will you consider financing over time?: No (Only cash up front)

Location

• Are you willing to relocate?: No