Audit and monthly clients are mostly nonprofits. Tax clients are mostly individuals and trusts and there are a few corporations. Most of the growth is attributed to referrals, reputation, and some yellow page advertising. The seller will consider retaining the audit component of the practice for buyers who are not interested in providing audit services. The clients have been accustomed to the current location since 1978. So, it is in the best interest of the buyer to maintain the current location for a time. Approximately 40% of the individual, fiduciary, partnership clients meet with staff in the office. Most of the monthly and all of the audit clients meet at their place of business. The tax work billing rate is $100/hr and other work varies. 55% of the gross is tax related, 19% is audit/review work, and 26% is accounting and payroll.
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