Donnelly Accountancy Inc.

BACKGROUND

Introduce your business and what you do there.

I’m the owner of Los Angeles Web Design. We’re incorporated as Allendale Enterprises, Inc.

OPPORTUNITY / CHALLENGE

What challenge were you trying to address with Donnelly Accountancy Inc.?

I had a very difficult relationship with my previous accountant I was with for 20 years. And on top of everything, he was getting harder and harder to communicate with. Earlier this year, we had done some preliminary looks at what my capital gains tax might be so I could figure out how I was going to pay for them. He came up with a figure that was in the $40,000 range. However, when he actually got the return done, the amount was in the $50,000 range.

I couldn’t believe that he was so off. My expectations were for one thing, and the outcome was completely different. He told me that we couldn’t really do anything about it and “it is what it is.” I told him I was going to get a second opinion because the whole thing seemed odd. To put it shortly, I needed Donnelly Accountancy Inc. to do my corporate taxes as well as double-check my former CPA’s work.

SOLUTION

What was the scope of their involvement?

I worked directly with Theresa (Owner). She went through a number of things that had been incorrectly done by my former CPA and fixed them. What’s more, she thoroughly explained everything so I understood where the mistakes were. Theresa detailed how one rate could be so much higher than another payment rate of tax.

What is the team composition?

I only worked with Theresa.

How did you come to work with Donnelly Accountancy Inc.?

I was referred to her by a close friend.

How much have you invested with them?

Both my corporate and personal returns were in total $700.

What is the status of this engagement?

The engagement lasted from February–March 2020.

RESULTS & FEEDBACK

What evidence can you share that demonstrates the impact of the engagement?

Theresa corrected what my former CPA had messed up. It turned out that the capital gains tax went down to the $30,000 range, which was far more realistic based on the type of income I had. That and several other things in the return were haphazardly done to the tune of a $20,000 mistake. I was extraordinarily happy that I got this second opinion and got it from someone as confident as her. The impact of her work saved me a lot of money.

What’s more, Theresa knows how to use QuickBooks. This made it easy for her to look at my books and see where the expenses and what the deductions were.

How did Donnelly Accountancy Inc. perform from a project management standpoint?

Theresa and I corresponded over the course of a couple of months to get the returns completed. We didn’t have a huge amount of communication, but we had enough. During tax season, accounting firms are always super busy so that’s to be expected. I didn’t need to speak to her every day so we spoke once a week.

What did you find most impressive about them?

It was Theresa’s willingness to look at another accountant’s work to see if there were errors. She took the time needed to thoroughly look over my worksheets.

Are there any areas they could improve?

The only negative thing was that I had to push her a few times for communication. Sometimes, I didn’t know when I’d hear back, so I’d have to call her. Apart from that, nothing was wrong as far as I know. I’m not an accountant nor am I familiar with the way they do their work. If I’m not audited and everything is good, then it’s all fine by me.

Do you have any advice for potential customers?

Make sure to have good communication; that’s the trick to every relationship.