Local Firm sold...new generic name

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#1
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A small firm in our area was recently sold and it seems like the transition period is going to be extremely quick. It looks like the buyer is not really local (probably 75 + miles away). Nothing too unusual with that I guess.

But they are opting for a new generic name with just initials. There is a new website that is very cookie cutter, all previous staff info is gone and you would never know the old firm existed. No references to any CPA's at all

Could this be a situation where H&R Block bought the firm or Jackson Hewitt? Very unusual in these parts for a small firm to operate under just initials. Maybe some of the larger regional firms have switched to initials but not the small guys.

Does this fit their modus operandi? The mystery has me intrigued.
 

#2
ATSMAN  
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The buyer may be a national chain or a broker/agent for another large firm may be using that temporarily until they can sort out their business plan. I know JH will buy a small tax prep shop and still keep the former owners name until the next season when they start merging the client base. I know this from one of the former clients of the small tax prep shop.
 

#3
Joan TB  
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My curiosity would lead me to do some digging on the internet. Look up the name in the d/b/a filings at your County Clerk (or equivalent). That will tell you the owner's name. Or look up the name in your state filings (LLC, Corporation, etc.) and again, that will tell you an owner's name. You might even have to check your state d/b/a filings. All this can be done very easily in Texas, and can be done for free, if you don't want to buy a copy. Takes just a few clicks!!
 

#4
makbo  
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BerkshireCPA wrote:A small firm in our area was recently sold and it seems like the transition period is going to be extremely quick. It looks like the buyer is not really local (probably 75 + miles away). [...]
Could this be a situation where H&R Block bought the firm or Jackson Hewitt?

On the one hand, you seem to know a lot about the identity of the buyer, but on the other, you don't seem to know anything about them at all. Which is it?

BerkshireCPA wrote:There is a new website that is very cookie cutter, all previous staff info is gone and you would never know the old firm existed.

Are you saying they retained the original internet domain name (which presumably was based on the actual firm name), but on the website the firm name is displayed as something different?

Since it is a public web link, why not post it here?
 

#5
smtcpa  
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I see nothing wrong with not using the owner's name in the name of the firm. In fact, I think it's a good idea. To me, using the owner's name is old school. I changed from using my name to a generic name 4 years ago when I wanted to transition some clients to another CPA and opened an out-of-state office.
 

#6
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I guess there is no harm posting the website. This is the original local cpa firm website domain name that they have always used (probably 15 years or so). Maybe they thought the domain name would have value but their firm always operated under the name of their partners.

www.qualitycpa.com

A client of theirs brought us a letter from the partner sent to all clients saying they will be merging and the partner stepping back. What was odd was they referenced metro areas from outside the area. They listed the buyers name but there is very little info on him. No website for his existing firm, no website for his contact email domain name, etc.

The original website had client referral and staff bios. All is now gone
 

#7
makbo  
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The contact email is in the ejjcpa.com internet domain. The web page is labeled with J&S CPA. The web site domain is "qualitycpa.com" whose SSL Server Certificate expires this coming November. It does all look kind of temporary and cobbled together.

I'm still going to guess that if it were H&R Block, they would immediately get their brand on it, but maybe it's a matter of deciding whether to keep as a separate office, or merge into an existing office?

Are there more than 1,000 clients at this location? That might be a clue.
 

#8
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Makbo,

Do you find it strange that somebody would bother with such a generic website. The contact domain brings you to Go Daddy, the new website offers no information and the old site has been scrubbed. I would think they want their current clients to think little has changed. They used to have a portal and a pay your bill on line button.

I doubt they had 1,000 customers but probably 500-600 individuals and a number of business returns (in the 100 range).

I just do not see the purpose of such a generic site unless like you mentioned it is temporary but why not leave the old one up instead.
 


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