Mount Pleasant Magazine March/April 2020

BEST OF 2020 www.ReadMPM.com | www.BestOfMP.com | www.ILoveMountPleasant.com 2020 W W W . B E S T O F M P . C O M Photo by Juli Kaplan. T ax preparation and review of your company’s performance should occur more than once a year at tax time. McCay Kiddy CPAs believe that consumers and business owners need to refocus expectations in this area to a forward- looking, proactive planning approach versus the traditional reactive tax filing approach. “We are successful in being the forward- looking visionary for our clients. Our industry approaches tax season through an historical lens. Consumers have become accustomed to: you end your year, submit your documents to your tax person, and they tell you on paper what has already happened,” said Justin Kiddy, CPA/PFS, CFE, CVA. “At McCay Kiddy, we have shifted to a forward-looking service, trying to predict what’s going to happen for clients before it happens.” This is a more valuable approach as clients can now add the element of planning and strategy to tax services, which creates greater impact by utilizing strategic decisions before the year ends. Their hashtag #ProactiveCPA buzzes around the summer and fall planning season. “We have become very good at predicting, well in advance, what a business or business owner will see come tax deadline time. This allows us to raise awareness for the client and move into the strategy phase of, ‘What can we do to reduce this tax cost that is coming?’ Making these strategic moves for the client is not only valuable to the client, but also to our team. If you ask any of our team members, being proactive and making an impact for a client is much more professionally rewarding than the after-the-fact paperwork that comes with income taxes,” stated Justin. Justin’s wife, Melissa Kiddy, CPA, and her outsourced accounting and CFO team implement the same approach to their business client base. “When we can provide timely and accurate bookkeeping and financial reporting to businesses, it allows us to take another step forward with them and help them with the predictive skill sets, such as cash management and strategic planning. Most small- to-medium businesses don’t have the internal finance expertise to handle cash management and propose the ‘What if?’ forecasting questions. This is a deeper level of value we offer our clients with our proactive planning at the company CFO level,” claimed Melissa. “Clients who are seeking advice should get more attention, rather than be hurried through in a once-a-year transaction,” said Justin. “We provide value to clients with advice and strategic planning, first and foremost. Tax return preparation then falls in line as a secondary service.” “It is a rewarding experience to take the knowledge that I’ve built and really guide people in making everyday decisions to help them and their businesses thrive financially,” said Melissa. Most importantly, added Justin, “’Proactive’ is a significant word for us. We have watched the industry for too long tell you things after they occurred rather than the more value-added approach in helping to uncover what’s about to happen to you before it occurs.” A Proactive Approach to Tax Time McCay Kiddy BY TERI ERRICO GRIFFIS To seek out McCay Kiddy’s services at any of their three locations, Mount Pleasant, North Charleston and now West Ashley, you can find them at mccaykiddy.com.