Friday 09:00 - 15:00
Mon - Thu 09:00-17:00
Estimated Reading Time: 3 minutes 15 seconds
GP CPA recently met with a prospective client and when the topic of being a business advisor came up, we heard an interesting point of view.
The potential client was specifically looking for a professional that would offer more than [just] tax & accounting services and could provide actual advice on business strategies. It looks like someone has been reading our blog!
The buzzword “Advisor” or offering “Business Advisory Services” have been trending for a while now. Traditionally, (a word CPA’s lovingly rally to) the advisory titles and services were the exclusive territory of “consultants” and ex-auditors, although that is changing. We have long joked at GP CPA that those who can’t do for themselves often “consult” to others.
The main reason that advisory services are trending and predicted to be the next thing for CPA’s (again, the ROBOTS ARE COMING for OUR JOBS) is the move toward analytics and working with large amounts of data to make decisions. Software platforms like Fathom, or Futrli, or NC’s own Malartu are all making the ability to aggregate and segment data for large and small organizations less time-consuming. For anyone who has ever sat through a presentation that was built around a custom Excel sheet or had to create that custom Excel sheet, the experience was less than pleasant. If you want to lose an audience fast, give a CPA a spreadsheet and tell them they have to explain it to a client without looking at their shoes!
The data aggregation platforms all connect with cloud accounting platforms, point of sale systems, CRM, and payroll to provide a dashboard of information that is perfect for those of us with short attention spans.
Having a CPA, like GP CPA, using these platforms for your benefit is the best way to maximize the benefits from the data analytics. We find that using a platform like Malartu or Fathom allows us to answer the really hard questions our clients ask us. Such as, “How am I doing this year?” or ”what do we need to buy to make that tax bill go away?”
Let’s bring the power of analytics to your business endeavors and start answering those hard questions with simple answers. Unless of course, you enjoy hearing “it depends” from your accountant all the time. Switching to GP CPA as your advisor will at least change that answer from being the stock response.
Congress extended some of the tax breaks retroactively to January 1, 2018. They now expire on December 31, 2020. Learn more about tax breaks that have been extended.
Take control back from the big box payroll companies and work with someone who can guide you to a better payroll process. GP CPA + GUSTO is the modern way payroll runs and the partnership that moves your business forward.
GP CPA has relied on cloud-based accounting technology for many years now and devotes a significant amount of time toward testing and learning the latest and greatest systems out there.
Since we now have less than 90 days left in the year, kindly keep me apprised of when you expect the major revenue collections to be during the next few weeks and we can adjust accordingly.
IRS has begun sending letters to virtual currency owners advising them to pay back taxes, file amended returns; part of agency’s larger efforts
IRS has begun sending letters to taxpayers with virtual currency transactions that potentially failed to report income and pay the resulting tax from virtual currency transactions.