Urgent CPA needed- Review Family Payroll Add-Backs for SBA

Posted 2 weeks ago

Worldwide

Summary

We are selling a service business, and the buyer's SBA lender has requested an independent CPA letter supporting family payroll add-backs. This engagement is limited to family payroll only. We are not seeking a full business valuation, financial audit, or comprehensive add-back analysis. Background The SBA lender has requested a letter from the seller's CPA, on CPA letterhead, that provides independent support for family payroll add-backs used in underwriting the acquisition. Scope of Work Review the family payroll records and supporting documentation, then determine whether the requested payroll add-backs are supported. If appropriate, prepare a CPA letter (on your firm letterhead) that includes: Employee name Family payroll amount by year Explanation of why each payroll amount qualifies as an add-back Confirmation, based on your review, that the payroll represents owner/family-related compensation that is not expected to require replacement labor following the sale and therefore should not negatively impact future business operations. The purpose of the letter is to provide the buyer's SBA lender with an independent CPA assessment supporting the family payroll add-backs. Documents Available The selected CPA will receive: Payroll reports Payroll registers General ledger payroll accounts (if needed) Family payroll schedules Description of each family member's involvement in the business Financial statements and other supporting documentation as needed Ideal Qualifications Active U.S. CPA license Experience with SBA business acquisitions or SBA lending Experience preparing lender support letters Familiarity with Seller's Discretionary Earnings (SDE) and payroll add-backs Ability to provide a timely turnaround When Applying Please include: State(s) where you are licensed as a CPA Experience with SBA acquisition transactions Experience preparing lender support letters or add-back documentation Estimated turnaround time Estimated fixed fee or hourly rate

  • Less than 30 hrs/week
    Hourly
  • 1-3 months
    Duration
  • Intermediate
    Experience Level
  • $10.00

    -

    $100.00

    Hourly
  • Remote Job
  • Ongoing project
    Project Type
Skills and Expertise
Mandatory skills
Financial Accounting
Financial Analysis
Nice-to-have skills
Accounting
Corporate Finance
Activity on this job
  • Proposals:15 to 20
  • Last viewed by client:2 weeks ago
  • Interviewing:
    7
  • Invites sent:
    30
  • Unanswered invites:
    12
About the client
Member since Jan 13, 2023
  • United States
    9:57 PM

Explore similar jobs on Upwork

Tally Prime 7 Invoice CustomizationHourly‐ Posted 3 weeks ago
PHP
Windows Administration
MySQL
Microsoft Windows PowerShell
Accounting
Financial Accounting
Bookkeeping
Accounts Payable Management

How it works

  • Post a job icon
    Create your free profile
    Highlight your skills and experience, show your portfolio, and set your ideal pay rate.
  • Talent comes to you icon
    Work the way you want
    Apply for jobs, create easy-to-by projects, or access exclusive opportunities that come to you.
  • Payment simplified icon
    Get paid securely
    From contract to payment, we help you work safely and get paid securely.
Want to get started? Create a profile

About Upwork

  • Rating is 4.9 out of 5.
    4.9/5
    (Average rating of clients by professionals)
  • G2 2021
    #1 freelance platform
  • 49,000+
    Signed contract every week
  • $2.3B
    Freelancers earned on Upwork in 2020

Find the best freelance jobs

Growing your career is as easy as creating a free profile and finding work like this that fits your skills.

Trusted by

  • Microsoft Logo
  • Airbnb Logo
  • Bissell Logo
  • GoDaddy Logo