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IRS & Financial ConsultingBoca Raton, FL· Buyer of established service business
Boca Raton Service Business Acquisition — Due Diligence Support
36
Months reconstructed
-$48K
Purchase price adjusted
14
Days from engagement to close
The challenge
A buyer was 14 days from closing on a $1.4M acquisition and discovered the seller's QuickBooks did not reconcile to tax returns.
Our approach
- Reconstructed 36 months of P&L from bank and CC statements.
- Reconciled to filed 1120-S returns; identified $84K of unrecorded owner distributions.
- Built post-close opening balance sheet and chart of accounts.
- Configured QuickBooks and bookkeeping cadence for buyer.
The outcome
Closing proceeded with a $48K purchase-price adjustment based on the diligence findings. Books delivered clean on day one of ownership.
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