Accounting firms and CPA practices in Illinois are most commonly valued at 0.9x to 1.3x annual gross revenue — a longstanding industry convention. A firm billing $800,000 annually might sell for $720,000–$1,040,000. SDE-based multiples (2x–4x) are increasingly used for larger, more profitable practices, particularly those with strong non-tax service lines.
Client Retention Is Everything
The core risk in any accounting firm sale is client attrition following the ownership change. Buyers discount heavily for firms where client relationships are personal to the selling CPA with no relationship to staff or associates. A well-transitioned firm with multiple client-facing staff, documented engagement files, and a structured client communication plan will retain far more clients — and command a higher price.
Revenue Mix
Tax-season-only practices are less valuable than firms with year-round advisory, bookkeeping, or payroll revenue. Monthly recurring revenue from bookkeeping and CFO services has become a major value driver, as it reduces the seasonal revenue spikes that make accounting firms difficult to finance and manage for new owners.
Most accounting firm sales in Illinois involve some form of seller transition support — typically 6 to 24 months of employment or consulting to facilitate client introductions and knowledge transfer.