What was the scope of their involvement?
They file our tax returns. We maintain a master sheet with my minority business partner, which Bill recommended we reconcile monthly. At the end of each month, I go to QuickBooks and go through all of our numbers with my business partner to agree that they match.
Then, when the end of the year comes around there are no surprises. We have a long meeting with Bill to ensure all the numbers in QuickBooks reconcile with what’s in the master sheet.
Bill also recommended paying my business partner 60% of net profits at the end of each month. We wouldn’t have thought of that idea without him.
What is the team composition?
I’m just working with Bill (Partner) from Morey, Nee, Buck & Oswald, LLC. He’s my one point of contact and go-to guy.
How did you come to work with Morey, Nee, Buck & Oswald, LLC?
I considered a couple of different CPAs. He stood out as the clear favorite—there wasn’t a close second. He did some free work for me before I decided to hire him. He asked me more detailed questions than any other CPA I spoke with.
Also, it was a brilliant idea to pay my business partner in line with the months when quarterly estimates are due. It allows my business partner to make his estimated payments and it allows a safety net in case there’s an unprofitable month.
How much have you invested with them?
It depends on the year, but we spend about $3,000 per year on average.
What is the status of this engagement?
We began working together in January of 2006, and the partnership is ongoing.