In this episode of The Concierge CPA Podcast, Dr. Jackie Meyer interviews Matt Tait, founder and CEO of Decimal, a firm that leverages AI and technology to enhance accounting operations. Matt shares his journey from being a lawyer to creating a client-centric accounting experience, emphasizing the importance of technology in streamlining workflows and improving client engagement. The conversation also delves into the significance of fixed fee pricing, the role of AI in automating accounting tasks, and the value of strategic partnerships in the accounting industry. In this conversation, Matt Tait and Dr. Jackie Meyer discuss the intricacies of partnerships in tax advisory, the challenges of scaling service-based companies, and the importance of hiring and training in a global workforce. They emphasize the need for transparency in outsourcing bookkeeping and share insights from case studies in the industry. The discussion also touches on personal experiences and fun insights during a lightning round.

🔗 Connect with Matt Tait

https://www.linkedin.com/in/mtait83/

https://www.decimal.com/

🔗 Connect with Dr. Jackie Meyer

Jackie's LinkedIn at https://www.linkedin.com/in/jackiemeyercpa

Jackie on Instagram @jackiemeyerCPA

Jackie's work at https://www.jackiemeyercpa.com

This episode is brought to you by TaxPlanIQ:

https://www.taxplaniq.com

Join the TaxPlanIQ newsletter here ➡️ https://www.taxplaniq.com/newsletter-signup-listeners.

Make sure you head to https://www.taxplaniq.com/podcast for your listener exclusives!

---------------

Takeaways:

- Decimal focuses on creating the best client experience.

- The accounting industry needs to prioritize client service over internal processes.

- AI can automate many daily accounting tasks, but human oversight is still essential.

- Fixed fee pricing can alleviate client concerns about billing.

- Technology should enhance, not replace, the accountant's role.

- Daily financial updates are more beneficial than traditional month-end closes.

- Collaboration with other firms can expand service offerings and client base.

- Understanding client needs is crucial for effective service delivery.

- AI can assist in drafting communications but should not replace personal touch.

- Strategic partnerships with tech companies can optimize accounting workflows. There's a big disconnect between tax advisors and compliance partners.

- Clear relationship guidelines are essential for successful partnerships.

- Cultural values play a significant role in hiring.

- Flexibility in work hours can enhance employee satisfaction.

- Providing growth opportunities is crucial in retaining talent.

- Transparency in outsourcing can alleviate client concerns.

- Quality of work is often a misconception in outsourcing.

- Training and onboarding are vital for successful integration.

- Technology should be leveraged to improve efficiency.

- Understanding client expectations is key to successful service delivery.

---------------

#JackieMeyer #AccountingFirm #TaxPlanning #AccountingTips #FinancialPlanning #TaxStrategies #CPA #FinancialAdvisor #AccountingFirmOwners #TaxPlanIQ #Decimal #AIAccounting #ClientExperience #Bookkeeping #Technology #FixedFeePricing #AccountingPartnerships #WorkflowAutomation #Reconciliations #AccountingInnovation #TaxAdvisory #Partnerships #ServiceCompanies #Hiring #Outsourcing #BookkeepingTransparency #CaseStudies #IndustryInsights #Automation

In this conversation, Dr. Jackie Meyer and Justin Baker delve into the intricacies of estate tax planning, discussing the current landscape of estate tax exemptions, the role of CPAs in estate tax planning, and the importance of proactive engagement with clients. They explore the dynamics of unexpected estate tax bills and provide practical examples of how effective planning can lead to significant tax savings. The discussion emphasizes the need for collaboration between CPAs and estate planning attorneys to ensure clients are well-informed and prepared for potential estate tax liabilities. In this conversation, Dr. Jackie Meyer and Justin Baker delve into the intricacies of estate tax planning, discussing various strategies for both closely held businesses and clients with liquid wealth. They explore the costs associated with setting up estate structures, the importance of proactive planning, and the various tools available to optimize tax savings. The discussion emphasizes the need for CPAs to initiate conversations about estate planning with their clients, highlighting the potential for significant tax savings and the value of collaboration in providing comprehensive financial advice.

🔗 Connect with Justin Baker

https://www.bakerwealthstrategies.com/

🔗 Connect with Dr. Jackie Meyer

Jackie's LinkedIn at https://www.linkedin.com/in/jackiemeyercpa

Jackie on Instagram @jackiemeyerCPA

Jackie's work at https://www.jackiemeyercpa.com

This episode is brought to you by TaxPlanIQ:

https://www.taxplaniq.com

Join the TaxPlanIQ newsletter here ➡️ https://www.taxplaniq.com/newsletter-signup-listeners.

Make sure you head to https://www.taxplaniq.com/podcast for your listener exclusives!

---------------

Takeaways:

- Estate tax planning is crucial for long-term financial health.

- The current estate tax exemption is set to change in 2026.

- Only 0.2% of American households currently pay estate tax.

- CPAs should integrate estate tax planning into their services.

- Unexpected estate tax bills can strain family relationships.

- Proactive engagement can help identify potential estate tax issues.

- Mitigation strategies vary based on asset types and liquidity.

- Effective planning can save clients millions in estate taxes.

- Collaboration between CPAs and estate attorneys is essential.

- Understanding the estate tax code can empower clients. Understanding estate tax exposure is crucial for clients.

- Consultation for estate planning can be cost-effective.

- Family Limited Partnerships (FLPs) are useful but scrutinized by the IRS.

- Optimizing existing estate structures can lead to significant tax savings.

- Generational planning can utilize older generations' estate tax exemptions.

- Proactive estate planning conversations are essential for CPAs.

- Immediate tax benefits can arise from long-term estate planning strategies.

- Annual reviews should include discussions on estate planning.

- Collaboration between CPAs and estate planners enhances client service.

- There are numerous tools available to mitigate estate tax risks.

---------------

#JackieMeyer #AccountingFirm #TaxPlanning #AccountingTips #FinancialPlanning #TaxStrategies #CPA #FinancialAdvisor #AccountingFirmOwners #TaxPlanIQ #EstateTaxPlanning #StateTaxExemption #EstatePlanningAttorney #TaxSavings #WealthManagement #EstateTaxExposure #TaxBillMitigation #EstateTax #EstatePlanning #WealthManagement #FamilyLimitedPartnership #CharitableTrusts #GenerationalPlanning #CPAAdvice #TrumpTaxes

In this episode of The Concierge CPA Podcast, Dr. Jackie Meyer discusses recent tax news and insights with David Podell, Founder of Business Benefits Consultants. They explore the implications of the IRS's expansion of the free file program, the impact of smaller tax refunds on clients, and the hiring of new auditors. The conversation shifts to retirement planning, focusing on the benefits of solo 401(k) plans, government incentives for small employers, and common misconceptions about retirement contributions. The episode concludes with a lightning round of questions, providing light-hearted insights into the world of tax and finance.

🔗 Connect with David Podell

https://www.linkedin.com/in/bbconsultants/

https://businessbenefitsconsultants.com/

🔗 Connect with Dr. Jackie Meyer

Jackie's LinkedIn at https://www.linkedin.com/in/jackiemeyercpa

Jackie on Instagram @jackiemeyerCPA

Jackie's work at https://www.jackiemeyercpa.com

This episode is brought to you by TaxPlanIQ:

https://www.taxplaniq.com

Join the TaxPlanIQ newsletter here ➡️ https://www.taxplaniq.com/newsletter-signup-listeners.

Make sure you head to https://www.taxplaniq.com/podcast for your listener exclusives!

---------------

Takeaways:

- The IRS is expanding their free file program, which may impact tax professionals.

- Clients are experiencing smaller refunds due to fewer pandemic-era credits and inflation.

- Retirement plans can provide significant tax benefits for business owners.

- Many individuals under-contribute to retirement plans, highlighting the need for better education.

- Auto-enrollment in retirement plans is helping increase participation rates.

- Solo 401(k) plans allow for higher contribution limits compared to other retirement plans.

- Government incentives are available for small employers setting up retirement plans.

- Common misconceptions about retirement plans can lead to missed opportunities for tax savings.

- It's important to regularly review retirement plans to ensure compliance and maximize benefits.

- Investing in oneself is crucial for long-term success in financial planning.

---------------

#JackieMeyer #AccountingFirm #TaxPlanning #AccountingTips #FinancialPlanning #TaxStrategies #CPA #FinancialAdvisor #AccountingFirmOwners #TaxPlanIQ #DavidPodell #TaxNews #RetirementPlanning #Solo401k #IRSUpdates #FinancialAdvice #TaxDeductions #GovernmentIncentives #BusinessBenefits