Looking for accountants who specialize in your particular industry? We have CPA practice groups tailored to your area of expertise. Having a CPA that understands your niche practice group will save you time and money. A CPA who understands your company model, churn rate, EBITDA and knows your invested shareholders is paramount. Our accounting experts specialize in the following industries.
Dental Practice
As a dentist with your own practice, you’ll need to determine which business entity to operate under. We can guide you on depreciation expenses and what the tax implications are on leasing or buying equipment.
Construction or Engineering
As someone working in the construction industry, you’ll want to ask, “Which tax credits are available to me?” Energy credits can be a great help in stretching your tax dollar. And you’ll want to have a firm grasp on what qualifies as a business travel expense.
Medical or Surgical Practice
Our accountants have worked with doctors, surgeons, and business owners of medical practice groups. We understand the unique challenges medical professionals face. Given the long hours, you may need a seasoned medical accountant to make the process of logging hours more efficient. And our CPAs assist in advising on depreciable purchases. We can help you understand if you qualify for a FICA exception or are eligible for an insurance credit.
Technology or SaaS Companies
As someone working in technology, you’ll want to pay close attention to the tax credits and incentives available to you. You may want to ask, “What is the clean-energy tax credit, and does it apply to me?”
Real Estate and Realtors
As a real estate owner, there are a number of considerations like, “What is the difference between repairs and improvements, and what are the tax implications?” “What are some deductible rental expenses”? “How do you determine depreciation, and what is cost segregation”?
Law Firms
As a lawyer or someone working in the legal profession, you might work as part of a larger organization, or you might operate as a sole proprietor. As someone pursuing the law profession, you’ll need to determine which business entity will work for you. Depending on your entity selection, there are different filing requirements. You’ll want to ask, “What should I do about unreimbursed expenses?” “What deductions are available to me”? “Would the cash method or the accrual method be best for me as a lawyer”?
Charitable Organizations
If you operate as a charitable organization, you’ll want to ask, “What tax credits are available to me?” “What is the difference between a public charity and a private foundation”?
International or Expatriate
If you’re living abroad, you can count on our CPAs to tackle your expat taxes. If you run a business in multiple countries, know that our accountants are deeply familiar with inventory tracking, charge backs, and returns. We’re fast to respond and fast to file.
Finding an accountant that understands your practice groups and the accounting implications of your specific industry can:
- Ensure you are implementing the right accounting plan to resolve these questions:
- What is the best bookkeeping method for me?
- Is there an accounting software for my needs?
- What accounting methods will accommodate my needs as my business grows and as I grow as a professional?
- Ensure you’re implementing a financial plan that takes advantage of each tax saving opportunity.
- What tax deductions are available to a professional in my line of work?
- How do I make a plan that ensures I gain the maximum deductions?
- What are the tax implications regarding business travel expenses?
Frequently Asked Questions
Can CPAs specialize?
Absolutely, it’s one of the hallmarks of an established firm, putting the right people on your specific account. Being a CPA, especially for small business owners, means being proactive with your company’s finances and the specific challenges you face.
For instance, if you’re a realtor or own investment properties, then your CPA should immediately know what’s deductible vs what’s not. There’s a fine line between repairs and maintenance, and your accountant needs to know the difference for you to recoup expenses.
Meanwhile, you may think a dental practice needs to purchase affordable equipment, but it may be a better investment to get state-of-the-art equipment as a depreciable asset to increase your profit margins.
Consider your industry and select your CPA accordingly.
How does a CPA help a business?
CPAs may not be engineers, but consider the cost-saving design of the aluminum beverage can. How the shape of the neck and the dome shape at the bottom, ultimately save a tremendous amount of material, not to mention cost. CPAs who specialize in your field can, at the very least, can draw your attention to the things that are costing you money.
If you’re manufacturing a product and having difficulty increasing profits due to the vendors or materials, your CPA can point out where your biggest costs are coming from, so you know where to focus your attention. Using new materials may result in expenses for R&D, but your CPA can forecast what the total cost saving is and when you’ll make a profit.
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