In this video we get to know about the difference between a typical CPA firm and PracticeCFO, which is located at San Diego, CA. Unlike a typical CPA firm, instead of meeting you once a year and helping you file a tax return, experts from PracticeCFO meet you on a regular basis and provide you tax advice and along with that they also provide you with financial advice, planning and business services. A CPA only helps you file your tax return and sometimes help you reduce your taxes. On the other hand, PracticeCFO helps you to not just file your tax return, it also helps you plan things that you can do in your present situation that will benefit you today and in the years to come.

PracticeCFO is unique from most CPA firms in that most CPA firms act as a historian for you. They gather your financial documents maybe a quick books file they gather the documents that come in your mail they primarily have one purpose which is to file your tax return and sometimes they’ll do what they can to reduce your taxes by giving you some advice around tax time but what CPA firms leave out of the equation is planning and saying what can we do today in your tax situation that’s not only gonna’ benefit you for the current year, that’s gonna benefit you next year and the year after that and in the end we’ll be the most beneficial tax situation for you and so we are a CPA firm yes but we are first a planning firm the nature of our services is very proactive and forward looking in that you know we are not the typical CPA firm that you come to us you know once or twice a year we talk about how much taxes you’re gonna owe and got a shoe box full of receipts and do the best we can to piece together a return rather we meet throughout the year quarterly and as needed as different events arise and we talk through how do we address those, how do we traffic control our dollar and plan and largely build a tax return throughout the year.

A book keeper just records what you’ve done a CPA can step it up a notch and record on report what you’ve done and give you tax advice that sort of thing but we wrap a whole another level around it which is planning and financial advice and business advice and business services. That’s something, competitors or a typical CPA firm will not provide. In addition to the proactive tax and cash flow planning we also specialize. We specialize in dealing with practice owners that way we get a deeper understanding of the business and can provide real time digestible actionable advice for you as the practitioner and the business owner to act upon in the same way you know a corporate CEO relies heavily on a CFO to present the data, provide recommendations and ultimately be on a crutch for them to make to make the decisions which ultimately impact the company.

We operate in that same manner and so to summarize it, our service is much more integrated, it’s much more forward looking and proactive as well as customizable for your unique needs. We are thinking about your future more than anything and so the decisions that we make today are to get you to those goals that you defined in your personal life. We want you to thrive as an individual and the CPA firm is just the data creator of books and tax returns to allow to have an X-Ray, a financial X-Rayin a way to then make these clinical decisions for your financial benefit going forward in your life.

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