A Quick Story

The explanation of why we have set forth to serve CPAs and their business owner clients is best illuminated by a Tale of Two Business Owners.

The first was a very successful business that was started back in the late 1960’s. The business still operates today under the same name. The founders, husband and wife, grew the company to where they were making $250,000 per year in annual income and had built a net worth of $4 million. Remember this was in the early 1970’s. Today, those numbers equate to approximately $1,250,000 of annual income and $20 million of net worth.

Picture of success, right?

So, if I told you that now the owners have divorced, one of the sons committed suicide, the remaining two sons are paying their father an allowance and are estranged, would you be shocked?

Don’t be. This is more the rule than the exception.

The second was a business owner and commercial real estate owner. Working with a tax advisor, she was able to save $250,000 on $600,000 of accelerated and reclassified depreciation that offset passive income. Even though this individual has over $15MM of net worth, she still had concerns about her retirement money lasting for her lifetime. So the next steps included analysis of legacy and estate tax planning for this very smart and successful single mother of two children.

Seem like a likely story? The reality is that it isn’t. Stories like this are the exception rather than the rule.

The contrast between the outcomes in the Tale of Two Business Owners is that the CPA is the one person in the best possible position to help the business owner achieve his or her purpose in life. Unfortunately for both the CPA and the business owner, this isn’t a role that the CPA has been readily able to embrace, and it’s led to more businesses experiencing Story #1 than Story #2.

Our mission is to be the catalyst for change in the public accounting profession and the relationship CPAs have with their business owner clients. The purpose of our work is to enable CPAs to help business owners reap the most value from what they have spent two, three or even four decades building.

We act as catalyst by:

  • Teaching CPAs how to turn money that would normally be paid in taxes into personal and family wealth
  • Helping CPAs provide systematic guidance toward well formulated goals for business owners
  • Assisting CPAs with communicating with business owners so that they may achieve these goals and objectives

Traditional CPA Model

Elite CPA Team Model