Our new clients often tell us that they want more than a transaction-based relationship with their CPA. Their old relationship felt one-sided and ended with a tax return handoff. Enter a holistic approach to accounting. 

At Tax Time CPAs, we take a holistic approach to accounting. Wait. I know. The word holistic has probably just conjured up images of herbal remedies, essential oils, and integrating a wellness coach into your health care regimen. But it’s not just the health care industry that has integrated the holistic philosophy into their practices. 

The word holistic, while quite buzzy within the health industry, is also quite apt within accounting. Merriam-Webster’s dictionary defines holistic as “relating to or concerned with wholes or with complete systems rather than with the analysis of, treatment of, or dissection into parts.” 

Considering all the pieces and operations of a business creates a better business strategy than looking at how just one part, ie taxes, affects the bottom line.

What is a Holistic Approach to Accounting?

Great. We know what holistic means. How does it apply to accounting and small businesses? 

For many small business owners, their approach to accounting is scattered across multiple players. It’s not uncommon to see bookkeeping done by a family member, the owner running payroll, and all this piecemeal information dropped off at their tax accountant’s door at the end of the year. Then, poof, a tax return is completed… well, there’s usually a bit more hocus pocus before the tax return is conjured.  

This haphazard approach is a juggling act, at best. Often there is minimal communication, which frequently ends up creating confusion and frustration. It puts a heavy burden on the business owner to keep track of all the moving pieces and creates an overall blurry picture of financial operations.

To create a sharp, clear picture of a business’s financial health and performance, we turn to the holistic accounting approach. Rather than the scattered process above, the holistic approach to accounting emphasizes communication and generates collaboration between the business and its CPA. This collaboration helps interpret revenue, cash flow, even organizational culture to partner with the business to do what’s best long term and develop an effective tax strategy. The end goal isn’t a one and done tax return. It’s a long-term relationship built on having a trusted advisor. The result is the business gaining the confidence to make operational decisions based on sound financial knowledge to build a prosperous future.

Fractional CFO / Controller. 

A fantastic way to take advantage of the holistic approach to accounting is to hire a fractional CFO. These services are ideal for small businesses that are growing and want to have ongoing, proactive conversations about their company’s financial health and performance but aren’t ready to take the plunge into paying out a big CFO or Controller salary. 

Tax Time CPAs’ Holistic Approach to Accounting

At Tax Time CPAs, we take a holistic approach to your accounting. Why? Because we believe in relationships. We consider our clients valued business partners, not a quick buck. We regard collaboration with you and your accounting team (whether yours or ours) as the best way to help you build wealth and success for years to come. Our approach is built on looking at your entire financial picture, not just taxes. This holistic approach has the added benefit of creating a more effective tax strategy for your business’s long term goals. Something that isn’t available in a one and done approach. 

We want to hear from you. Not just at tax time, but throughout the year to answer your questions and help you develop productive business strategies. 

Ready to take a holistic look at your small business finances? Contact us today!