HS Listing ID-69525

Business is broken down into 2 sections:

– Tax Practice

– Advisory Practice

– Both were started 14 years ago

– Owner works 6 days a week, 6 or 7 hours a day during tax season (mid feb to mid april). Non tax season hours: 4 days per week, 4 hours per day.

– Average clients are in their 60s and will need more services/annuities/products as they get older. They are also less likely to use turbo tax.

– Buyer will need annuity and life insurance licenses (series 65)

– lease has 1.5 years left

2024 Tax Business

2024 Gross (sched C) – 87,429

2024 Net (sched C) – 23,683

– all actual labor is performed by two x 1099 contractors/tax preparers (56,295)

– 1 of the contractors works from home, the other comes into the office

– spends 18k per year on marketing (claimed on advisory return)

– uses Drake accounting software

– charges clients $79 for simple return, then rates go up from there (seller said average ticket is ~160$)



2024 Advisory Business

2024 Gross (sched C) – 242,862

2024 Net (sched C) – 128,169

~10M under management

– pays a residual of .8% (~80k per year)

– sells annuities (about ~15M written in last 3-4 years, that will be coming due in next few years. Rolled at 2.5-3.75% commission is ~450k coming in within the next 3-4 years)

– 21k in advertising expense on this is actually spent to advertise the Tax Business, but the tax preparer claimed it on the Advisory Business return.

– 28k in wages is for 1 secretary. Full time during tax season, non tax season is 24 hours per week. $20 per hour.

A SIGNED CONFIDENTIALITY AGREEMENT IS REQUIRED FOR THE EXACT LOCATION