5 things your accountant wishes you knew but would never tell you!

A short list of a few things we would love to say but never dare to.

1. The numbers I'm working with don't come out of thin air.

I have very specific formulas to calculate them. I know sometimes completing taxes can look like a magic act, "How did she save me $14,000?!". Believe me, I will do all that's in my power to save you money! Despite the magic we do for you, accountants are not actually magicians!

2. No I’m sorry, I cannot do your taxes for free.

Or discounted! As a professional, you are paying me for my experience and expertise as well as the service that I am providing you. I promise, I will do all that I can to ensure you the very best results! That is my job after all!

3. Organization is key!

Dumping a bag full of receipts on my desk is not exactly efficient. Have you watched Marie Kondo yet? She tends to use lots of little boxes in her technique. Regardless of your method, organization is key! They say cleanliness is next to Godliness right? Let's use that as some motivation to keep your paperwork a little more organized!

4. Sooner is better than later!

December. Holidays. Stress-mas. There's undoubtedly quite a few things on your mind this time of year. There's shopping, holiday parties, seeing your in laws, and for us business owners - year end. Just as you thought your plate was at its capacity, here comes your friendly accountant with a reminder email. "Hi! Make sure you contact me before the first week of April next year to work on your taxes!" I know, I know, it's one thing we don’t want to have to worry about. But can I just say? Receiving communication from you before April would be my favorite Christmas gift!

5. Trust me!

I know you are not a tax professional so I'll give you a break with terminology but know that, yes, there is a difference between tax liability and tax refund. Leave the tax jargon up to me, I'll navigate you through and won’t let you down!


We did it again!

WOWZA - 2018 is coming to a close - already. I was asked today if I was ready for the holiday weekend (that is literally starting today), and my response was “I don’t know if I am ready for today!”. This conversation was at 2:30 pm. I think that sentiment kind of wraps a lot of how this year went - at times we were holding onto the rails for dear life, and at other times, we were sipping a drink through a straw on a beach. There have been so many new faces and opportunities that came our way this year - and as a result, we quadrupled again! Where we used to onboard a client or two a month, now we are doing that a week. We have a SOLID team of amazing accountants who are handling much more than previously thought imaginable, and growing together daily. There have been challenges this year that would have brought me to my knees in the past, and now I feel confident in telling our clients that we can get through them, easily.

Life has been awesome this year. We moved into a physical office location, and love seeing our clients face-to-face there (and remotely as well!). We have enjoyed tighter relationships with our referral partners as we seek to jointly help clients in their individualized situations. We added services and product offerings, and internally, started offering benefits for our awesome staff like a 401K and health insurance. Today I met someone for coffee that asked how thing were and how many staff we had, and his response was “Wow - you are a real business!” I guess I never stopped to think about not being a real business before! But yes, it does feel like things have a sense of permanence now that maybe before felt more like we were still figuring them out. 2019 holds a lot of potential - we foresee the use of more sophisticated technology entering our client processes, the ability to start formalizing both client and staff development, and of course, continued growth.

Personally, the boys are getting older, and it is awesome to see them transform from “kids” to “boys” to one becoming an official “pre-teen”. There have been some ups and downs, but for the most part, things seem to be “getting easier”. Here is to 2019, to which I expectantly welcome an opportunity to “do it again”!!!

-Teresa

Merry Christmas

So everyone already knows that this year was difficult for my personal life, and got even more so recently when our family dog of almost 14 years determined she was ready for heaven.  But the business continues to grow, and our clients businesses are growing, and I have an amazing group of people that expands every day that now includes family, friends, staff, and amazing clients.  I can't ignore that life is still pretty awesome in spite of some challenges that have come my way.  

Last year at this time the practice had 6 active clients.   We have more than quadrupled in one year.  Our challenges now include ensuring we are giving best-in-class business advice, financial expertise, and really getting to know taxes inside and out whether we provide those services or not to our clients so that we are prepared for returns and changes that may occur.  

In one year, we developed our process for determining which clients we can help, accepting those that we can't, and building relationships with those that are just hanging on.  We also developed a proprietary process for delivering our services that is a three-step support system to really provide value to new and existing clients.  We have saved one client over $500K in expenses that were not serving the business.  We provided first-employee services to set up compliance and payroll to a dozen clients.  We worked with over 20 outside other advisors in transactions, taxes, legal advice, and consulting to help our clients the best way possible.  And we can't wait to do it again in 2018.  

As we look back on 2017 and the tumultuous year it has been, I can finally say I am okay with how it all turned out, even if there were some dark patches.  Merry Christmas to all, from myself and the Lindberg Family, and from all of us at ImpAcct.

 

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Life is a roller-coaster

WHEW!!!!!  WEEEEEEEEEE!!!!!!  Yes, that actually sums up the last year-and-a-half for myself and the practice.  We have grown from an idea to three employees, from a couple clients to a few carefully selected dozen.  We LOVE our work, we LOVE our clients, and we LOVE the select industries we serve (trades, technology, and truckers).  We feel incredibly blessed and stressed all at the same time.  I can't imagine life any other way right now, and thank every one who has supported us during each step of this journey.   Right now, we are working through the "busy season" of extended tax returns.  And getting some clients looking at their 2018 forecasts.  And others are just trying to make sure they can make the next payroll.   

The last few months were probably the most challenging I have personally ever experienced.  With life throwing an unexpected curve-ball my way in late May, my summer was not what I expected.  But because of my amazing staff and clients, I was able to get through things.  Thank you.  I can't say it enough, thank you.  And now the fall is here, and things are shaping up in another, different way.  I thank you again.  Things are always changing, that is the only constant. And it seems applicable to the businesses we help as well - every business is unique and goes through similar, but unique, situations.  Every fact pattern is different.  Every chart of accounts is different.  Every process is different.  Every culture is different.  But together, it gets better and better and better every day.  Cheers to all of you entrepreneurs, risk-takers, believers, helpers, and supporters.  And thank you.

-Teresa

 

Welcome

It is with humble gratitude that Impacct, LLC begins.  There has been nothing more that I have been passionate about than helping small business owners.  Even as a child, I would long to help my entrepreneur father in his various ventures - a start-up tech company in Colorado that has grown into a multi-national gigantic company, a bar in a small town, a power-washing company that traveled to customers, and a private hunting lodge in Montana.  Our conversations were and still focus on "what kind of business would best serve this community?" and "what do you think about this idea?".  

After double-majoring in college and starting in Big 4 in Denver, I was excited about every client that I was placed on.  I quickly learned there are multiple ways to do the same process, and every way is slightly unique due to the business situation at hand.  I garnered experiences subsequently at every thing from a Fortune 500 to multiple small, growing tech companies, and the same realization occurred over and over: what is the best way to do it here?  The answer always evolves from understanding and communication with stakeholders, and may not stay the same after it is built.  

I can't wait to share stories of clients facing tough business challenges, and how we set out to solve the problems together.  Stay tuned, it will be a great adventure.

 

Teresa