Why one of the biggest obstacles to your financial success might be the person you like the most.
When we talk to prospective clients we always like to ask them one thing: why are they still with their old accountant?
Without fail, the answer usually comes back, “We’ve used them forever, they’re good people, and frankly we just don’t want to think about it.”
To which we respond, “How much are you willing to spend on niceness?”
Don’t get us wrong, there’s something to be said for loyalty. It’s a pillar of business practice, ethics, and, well, being a good person. It’s when people take advantage of that loyalty that you have a problem -- and frankly, this happens all the time. So how much are you willing to spend on a nice relationship with your accounting firm? 10k? 20k? 100k? We’re here to tell you why that relationship might be the most expensive one you have.
A Great Accounting Firm: Get You One That Can Do Both
Your accounting firm needs great customer service, definitely, but it also has to be extremely tax literate. In many states tax law is constantly changing and updating, making it vital that your business (and accounting firm) doesn’t remain static in the face of these changes. Minnesota has complex sales tax laws that demand someone who is actively dedicated to finding your best deductions and money-saving techniques every single year. It’s not a once-a-year thing.
If your accountant is just filling out forms at the end of the year, they could be missing out on huge tax saving changes which happen throughout the year. Not only that, they could be missing fundamental changes to your business that could help it thrive. It can be as simple as figuring out what entity a business should be which can save as much as 15% on your current taxes. Don’t miss out on this because you like the person you have and don’t want any “big surprises” at the end of the year. We’re willing to bet that if those “big surprises” include a 15% tax break that it’s worth the shake-up for your business.
Now’s the Time For a Change
Sure, you might have put it off, but let’s face it: it’s time to get a second opinion. Like screening for chronic illness, many people avoid getting a new accounting firm for fear of what they might learn -- don’t do this, make the time today. A good accounting firm can jumpstart changes for the current tax year and help with your tax literacy to make sure that next year you’re getting the service you deserve.
If this has you thinking you’re ready for a change, then give CSI Accounting a try. We offer a free consultation that can point out easy-to-miss tax solutions and ways to grow your business. We’re excited to work with you to offer solutions through ongoing meetings, not just sitting you down for an info dump at the end of the year. You’ve made it this far, it’s time to take it to the next level. We’re here for you and for your business, come in and see how nice we can be!