Accounting and tax practice in the heart of southeast Minnesota. This practice offers tax preparation, payroll processing, bookkeeping and consulting services to over 300 clients. Employing one staff year round (FT tax season, PT off season) and another during tax season, the majority of this business' revenues come in during the tax season. Practice has enjoyed steady growth over the past 5 years with many more growth opportunities available. Over the past several years the owner has brought in staff to help with the work.
Approximately 2,500 sq ft facility that is owned by the seller is available for lease or sale. The price of the business does not include the price of the building. The current space had a major renovation in 2016, with updated mechanical systems and electrical service.
This company is well positioned with loyal clients that should stay with a transition. With good customer service and expertise a new owner could capitalize on referrals from current clients. In addition, creating a web presence could bring in clients that are looking online. The current owner does not do any active seeking of new clients.
There are several accounting practices within the same community as the company. Generally speaking, the market for accounting services is strong in southeast MN as the region contains many small and medium sized farms and businesses that make good clients for this company. As tax rules change and generally become more complicated, demand for this company's services will continue to grow.
Will train for 2 weeks @ no cost The current owner of the business is a CPA, although the CPA credential is not required to conduct the operations of the business. A large portion of the individual tax clients are farmers, so a background in farm tax preparation would be helpful for the next owner. In addition to individual tax returns, the firm does some corporate, partnership and estate tax returns. Other than tax returns, the firm does tax planning, payroll processing, consulting and W2/1099 preparation.