How a Small CPA Firm Sold at 19x EBITDA with Tax Season Recurrence

Lucas and Luna break down a real recent deal: a three-partner CPA firm in suburban Denver that sold for 19 times EBITDA. The twist? Its value came not from audit work or advisory but from a massive base of individual tax-return clients who come back every single year. Lucas walks through the revenue mix, the retention curve, and why a buyer paid a premium for what looks on paper like low-margin commodity tax prep. Luna pushes back on whether the model is durable if the IRS ever simplifies filing. The episode closes with a concrete checklist for any service business owner wondering if their own recurring client base has hidden deal value. #CPA #TaxPreparation #RecurringRevenue #BusinessBroker #ExitPlanning #EBITDA #ValuationMultiples #SmallBusinessSale #Denver #ServiceBusiness #TaxSeason #ClientRetention #FirmSale #BuyerAndSellerPodcast #FexingoBusiness #BusinessPodcast #LucasAndLuna #PrivateSale Keep every episode free: buymeacoffee.com/fexingo