Buying a tax or financial services firm in Jacksonville and Northeast Florida

Jacksonville and Northeast Florida has 47 established tax and financial services firms by our count: companies in business at least 15 years that still file with the state every year and aren't part of a larger group. Of those, 60% have been in business 20 years or more. Most will never be listed for sale, and many of their owners have never been asked.

established companies

60%

built over 20+ years

$197k+

a year, earned by the top quarter

21%

built over 30+ years

What it takes to own one

Tax and financial services firms in Jacksonville and Northeast Florida come in every size. Here's what owning one could look like at three levels, from a solid company to one of the leaders, with a small business loan covering most of the price.

A solid company

Earns about: $101,000 a year
Price about: $278,000
Your cash: $39,000
Could pay you: up to $51,000 a year

A strong company

Top quarter in Jacksonville and Northeast Florida

Earns about: $197,000 a year
Price about: $542,000
Your cash: $76,000
Could pay you: up to $99,000 a year

One of the leaders

Top tenth in Jacksonville and Northeast Florida

Earns about: $375,000 a year
Price about: $1 million
Your cash: $145,000
Could pay you: up to $189,000 a year

Earnings are owner earnings: profit plus what the owner pays themselves, before loan payments and taxes. They and the prices are our estimates from public records, not the owners' figures, and we value companies like these at about 2.8 times a year's owner earnings. Your cash covers the down payment and closing costs, and what the business could pay you is what's left after the loan payments and the cushion lenders require. The more cash you bring, the further up you can go.

Age, size and location

Revenue is our estimate from public records, grouped into wide ranges.

In business	Companies
Under 20 years	19
20 to 29 years	18
30 to 39 years	7
40 years or more	3

Estimated yearly revenue	Companies
Under $1M	9
$1M to $2M	2
$2M to $4M	3

County	Companies
Duval	36
Clay	5
St. Johns	5
Other counties	1

Town	Companies
Jacksonville	31

What the best tax and financial services firms have in common

A high share of last year's clients coming back, and records that show it.
A mix of individual and business clients. Business returns and monthly bookkeeping are usually worth more and last longer.
Preparers besides the owner whom clients trust and who plan to stay.
Credentials that fit the work, such as enrolled agents or CPAs for clients who need representation before the IRS.
A clean record with the IRS: no preparer penalties and few rejected e-filed returns.
Secure, modern systems: a client portal, multi-factor logins and a written security plan.
Prices that have kept up with the work.

What to check before you buy

Retention. Returns filed each year, and how many clients came back after any past change of preparer.
Cash flow. Revenue by month, and whether the business covers its costs from May to December.
Transition terms. Many deals tie part of the price to how many clients come back, with the seller working through a filing season. Ask your attorney and lender how that fits your financing.
Compliance. Preparers face extra due diligence rules and penalties on returns that claim the earned income credit and some other credits. Ask about IRS visits, letters or penalties.
Data security. Any breaches or stolen client data, cyber insurance, and whether the security plan is real.
Software. Whether the tax software licenses and client data can move to you, and what any bank products tied to refunds depend on.
Seasonal staff. Whether trained preparers will return next January.

Questions to ask the owner

How many returns did you do in each of the last few years, and how many clients came back?
Which clients deal with you personally, and how would you introduce them to me?
Would you stay on through one or two filing seasons?
What software do you use, and can the licenses and client data come over to me?
Have you ever had an IRS penalty, compliance visit or data breach?
How much of your revenue comes from bookkeeping and payroll outside tax season?
When did you last raise prices, and how did clients react?

To learn what these companies do, which licenses they need and how ownership works, read our full guide to buying a tax or financial services firm in Florida.

Owning a company in Jacksonville and Northeast Florida

The local economy

This region covers Duval, St. Johns, Clay, Nassau, Baker and Putnam counties: Jacksonville, Jacksonville Beach, St. Augustine, Ponte Vedra Beach, Orange Park, Fleming Island, Green Cove Springs, Fernandina Beach, Yulee, Macclenny and Palatka. Jacksonville merged with most of Duval County in 1968, which makes it the largest city by land area in the lower 48 states.

The economy leans on logistics, the Navy and financial services. Logistics runs through JAXPORT, major rail lines and the meeting of Interstates 95 and 10. The Navy has Naval Air Station Jacksonville and Naval Station Mayport. Insurance and health care matter too. St. Augustine, founded by the Spanish in 1565, and Amelia Island draw steady tourism. Trucking and logistics firms, the building trades, medical practices and home services all fit this market.

What's different about owning a company here

Northeast Florida is less seasonal than South or Southwest Florida, with fewer winter residents and more year-round employers. Direct hurricane landfalls have been less common here than on other parts of the coast, but storms still bring flooding along the St. Johns River and the beaches, so check insurance costs and flood zones.

Military families bring skilled workers and working spouses into the labor pool, though they also move on when orders change. St. Johns, Clay and Nassau have added the most new homes, and companies serving those suburbs have grown with them. Georgia is close, and some companies here serve customers across the state line. Work in Georgia may need Georgia licenses, so ask how much revenue comes from there and who holds those licenses.