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These are good reasons to hire a CPA, but not the right one!
1Miami CPA Firms all provide Accounting Services. Accountants have clever marketing phrases like “Customized or Tailored”. There is nothing “custom” about basic 101 Accounting, or essentially the first two semesters of college? We provide accounting services as well. But this alone is hardly a good reason to hire a firm, much less the right one..
2We’re Certified Public Accountants, and of course we Prepare Taxes all year round. Do you think I can afford an 8-month vacation playing golf after April 15th? Besides I hate golf. Every CPA in Miami touts their expertise and experience promising to find every deduction. The only difference between hiring smaller CPA firm vs. a large International CPA Firm (where I was trained), will be the size of the bill you get. We all follow the same IRS Tax Code, so your refund wont vary between firms, assuming no creative deductions you’re 5 year old kid wont even believe. Unless your family name is Rockefeller or your company is the size of Microsoft, we can handle your taxes. Solid tax advice and savings, we’re getting hotter in the quest to find the “Right” reason to hire a firm.
3Having professional IRS Representation at an IRS audit can reduce anxiety during a very stressful situation. Well of course it will reduce your stress, but mine will spike through the roof. How do I explain to the Revenue Officer, without committing an act of perjury or some other illegal act, that it simply slipped your mind to file taxes for 10 years? Well I wont promise you, like those TV commercials do, to settle for 10 cents on the dollar, not going to happen folks. But we will do our best keeping you from being arrested and criminally prosecuted. We’re almost there; the “Right” reason is below.
Medicare Cost Reports
4We understand the stress involved in properly filing cost reports and the attention to detail that must be taken in order to ensure the job has been performed successfully. Mistakes are costly; our Miami CPA firm has never had a misfiled cost report. Not a reason at all, just a niche expertise I wanted to share.
CPA = Certified Public Accountant. Are you sure?
With my background as Former CFO for Hewlett Packard Latin America, Senior Audit Manager for PriceWaterHouseCoopers, Corporate Controller for Telefonica of Spain LA Region, and Global Treasurer for a Fortune 189, you’d think I know what the initials CPA stood for. I’ve been part of very talented group of CPA’s as we took a company public on NYSE. I managed the merger between Hewlett Packard and Compaq Computers for the Latin America Region. I have personally structured multi-billion dollar deals for HP going head-to-head with other Fortune 100 companies. And along the way, I learned a couple of valuable lessons I’ll share with you.
CPA = Cost Per Action
Bottom line, every “Action” or worse the lack thereof by your accountant are tied to a financial impact, (positive or negative). Hire a “Great” CPA, and the financial impact is usually a substantial reduction in taxes. Hire Gustavo (Gus) and you’ve just hired a senior executive trained to focus on the top line (Revenue), the bottom line (Net Profit) and every single “Expense” line in between.
As a senior financial executive at Fortune 100 Company, job performance is not based on closing the books every month. The hardest and most interesting part of the job was identifying trends (positive or negative) utilizing complex Key Performance Indicators (KPI) and other models to either mitigate risk, or reap rewards by staying ahead of the completion. Identifying the trend and drafting a plan was worthless, if you could not execute the plan.
The best plans, budgets or financial projections never turn out exactly as expected. Differences between projected and actual results were presented to the CEO each quarter. Simply stating Cost of Goods Sold were projected $8B and actual results $8.2B, or a delta of $ .2B was math a CEO was capable of. The gap analysis between expected and actual results was a massive and complicated process and I was expected to understand and explain every penny, in about 20 minutes. A presentation was a PowerPoint slide deck, maximum of 10-pages. Your bullet points had to be crisp, concise aided by visual graphics and dashboards. Failure to convey the message or know the answers did not mean a bad job review at year-end. It meant you were not coming back next quarter to present, never again.
My fellow CPA’s are competent and professional individuals or firms with varying degree of experience and expertise. But the vast majority have been solely trained and as practitioners, preparing taxes and performing audits. They don’t possess “Business Acumen” and it’s not something you can learn from a college course, not even at Harvard.
I offer end-to-end professional advice along with perfunctory services required to keep your company in compliance. That does not translate into we’re expensive. My ethics and moral compass are about fairness, quality work, pride in what you’re doing and mutual respect. Helping small and mid size businesses grow and prosper is far more rewarding that any mega deal I’ve been part of. The results of my work are tangible and real, as a satisfied client prospers.
Money alone will not be you happy. Accordingly, tradeoffs are necessary to achieve the right mix between finances and family. I offer you my expertise at fair rates and seek serious professional and respectful clients, from start-ups to well established entities. Mutual respect, common goals, objectives and ethics are the ingredients for a long-term relationship.
If you’re hiring a CPA solely based on price, you’re pushy and think you’re our only client and want everything yesterday, we’re not a good fit for you. However, if you share our ethics and values, we would like to hear from you.