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Are you “Teaming Up” with Your CPA?

Posted on 01/22/16

How do you work with your CPA? For many people, it may be dropping off an envelope of paperwork once a year at tax time.  For others, it may be an annual one-on-one meeting to discuss the pertinent issues. In these situations, you and your CPA are working together as “a team” which is the most effective way to go.  Read on to learn other ways that you may “Team Up” with your CPA.

However, there can be scenarios when bringing additional talent to the team is the best approach for ensuring your financial goals and objectives are achieved.  For different events, your team may change accordingly.  A few of your teams may include:

  • Personal Financial Management – CPA, Financial Advisor and You
  • Estate and Trust Planning – CPA, Attorney and You
  • Litigation (including divorce) – CPA, Attorney and You

You work with your CPA to do tax planning, a financial advisor to manage your investments and an attorney to oversee your legal matters.  Each does a great job acting on his/her own.  However, they each hold pieces of knowledge that effect what the other does.  In working together, your professional advisors are able to coordinate what they are doing and/or recommending to ensure that you are receiving the most comprehensive and holistic counsel, and that they are not doing anything that may negatively impact each others’ services to you.

As noted previously, most people meet with their CPA at least once a year; tax time.  But in many cases, they meet with other professional advisors even less frequently.  You should meet at least annually with your professional advisors.  Use that time to discuss events in your life, significant changes that have occurred, moves, your dependents, etc.  You may want to consider having a meeting with all of your advisors in one setting to ensure that they get the same information and can immediately discuss any issues or concerns.

There is one more aspect to the team approach and working with your CPA; it involves your loved ones.  Whether you are a brand new client or have been working together for thirty years, your CPA is always concerned about your personal and financial well-being.  Long-term relationships can represent multiple generations of a family and provide value in the historic knowledge that your CPA has.  As you consult with your accountant and/or other advisors, consider including appropriate family members and loved ones.  It extends the relationships beyond just you and also helps to educate your family on your financial and legal affairs.

Whether it is your CPA, financial advisor, attorney or loved ones – having them work together for you and with you is the best strategy.  They all bring value to the team.  However, at the end of the day, you are the most crucial member of the team.  You provide the information that the other members need to successfully execute their part, and as the saying goes, “the whole is greater than the sum of its parts.”

At Kerkering Barberio, we also work as a team.  We have many specialty areas that benefit our clients.  Our shareholders, managers and staff work closely together to provide you with a complement of services; creating a one-stop shop that will meet most of your personal and business tax, accounting and financial needs.  We are always here to assist you.  If you have questions or would like more information, please contact your Kerkering Barberio representative at 941-365-4617.

About the Author

Larry Geimer

Kerkering, Barberio & Co.
1990 Main Street, Suite 801
Sarasota, FL 34236
(941) 365-4617

Mr. Geimer’s primary practice areas include Forensic Accounting and Litigation Support and Individual and Business Tax Consulting. His clients include high net worth individuals, business executives and business owners.

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Our Locations

Sarasota Office
1990 Main Street, Suite 801
Sarasota, FL 34236
Phone: 941.365.4617
Toll Free: 800.966.8676
Fax: 941.954.3207

Lakewood Ranch Office
9423 Town Center Parkway
Lakewood Ranch, FL 34202
Phone: 941.365.4617

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4350 West Cypress Street
Meridian One, Suite 930
Tampa, Fl 33607
Phone: 813.675.8800

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