The Best Business Investment I’ve Made

If I were to make the statement, “The best business investment I’ve made is…..” the sentence would end with

“my accountant, Luke Sonnier, CPA.”

In March of last year, things became a bit overwhelming. I was shooting constantly, on top of editing, networking, marketing, and delivering. As much as I hate to admit it, my business and finances had been pushed aside. There are too many issues with this to list, but I’d had enough and I knew something needed to change.

A close friend of mine and fellow photographer, Erin Falgout, told me about Luke. She promised me that he would take care of me and that no question was too small or too unimportant (because I had a ton of them!) She was right. I have been SO impressed with Luke from the beginning and he has truly changed my business.

He’s led me through this past year with kindness and understanding, but on top of that…he has mad skills! 🙂 I can proudly say that I am finished with taxes for the year…and I didn’t do a thing. Luke handled everything!!!

Truly. Worth. Every. Penny.

Luke and I are friends on facebook. Yes! You heard me right (….that’s where I grabbed this picture). I felt strongly about sharing Luke with all of you small business owners and photographers because he truly is the perfect accountant and has made me feel like a friend from the get-go.

I asked Luke to answer a few questions in hopes that he can reach out to some of you and help YOUR business as well:

• For other photographers and small business owners like myself, please share what you do for them:

I am able to provide services for small business clients that really run the gamut. I can help with everything from providing advice and assistance on what first steps should be taken when starting a new business venture to finalizing and dissolving a business venture, and everything in between. My primary role in most of our (Darnall Sikes and Fredericks Accounting) clients’ affairs is that of tax preparer and advisor. Small businesses have to give consideration to property, sales, payroll and income taxes and we can provide service in all of these areas. After developing a relationship while working on taxation issues we often become very closely involved in our client’s other financial endeavors. Navigating the market as a small business owner can be very daunting.  I am here to provide any assistance possible!

• For someone who is starting a business or in business, when is the best time to start working with an accountant?

My recommendation to anyone starting a new business would be to contact three people immediately before doing anything else: an attorney, a CPA and a banker. Typically the first thing that any new business will need are what we refer to as “Initial Filings”. Depending on the type of business being formed, these initial filings can vary.  A good attorney and a CPA will provide assistance in creating and filing these documents properly and in a timely manner.

In short, the best time to begin working with an accountant is before actually beginning the first day of business. It is important that I stress however, that it is NEVER too late. If someone finds themselves in the middle of business operations without having contacted any professionals for assistance, it isn’t too late to do so at that point.

• What is the value of having an accountant and how can it help your business?

In my opinion, the value of a skilled and trusted CPA is in having someone at your side who is experienced in regulatory and financial matters. This provides the small business owner with the freedom and peace of mind that comes with not worrying about these things personally, which in turn allows for more time growing and enjoying your business.

• What can your clients do to make you more beneficial to their business?

Small business owners who are organized and timely tend to receive the best service at the best price from CPAs and other professionals. Most professional service providers charge by the hour which means nicely organized information received is much more efficiently processed than otherwise.

Beyond that, getting involved with a CPA during the early stages of beginning a business will be very helpful.  Many problems that arise in the lives of some small businesses are easily avoided by working with a professional from the beginning.

Finally, do not be afraid to contact your CPA when any new business opportunity or transaction arises.  Too often CPAs only learn of developments which occurred during the course of the year when we meet with a client at the end of the year to discuss taxes. Many transactions can be handled in a number of different ways resulting in less or more favorable tax consequences.  Consulting a CPA BEFORE taking these opportunities can often result in much more favorable tax implications.

• What is your favorite aspect of your job?

My favorite aspect of being a CPA in public practice is in helping truly small businesses get their business started and then watching them do well. I believe that many CPAs have had dreams at some point of being a small business owner. While many do leave public practice to pursue these aspirations, many more are rewarded vicariously by helping our clients to succeed.  The small business is the heart of a local economy, and helping those businesses grow is incredibly rewarding.

• What’s the best way for someone to contact you?

The best way to contact me is by email: LukeS@dsfcpas.com. If any small business owner is interested in inquiring further about our services, I encourage he or she to email me so that more accurate details can be discussed based on his or her individual needs.

My life and my business has drastically changed since I met and started working with Luke exactly one year ago!! I went from a scattered and overwhelming business to one that’s organized and efficient. This is helpful for my clients and for me as well. I strongly recommend contacting him and getting YOUR business set up with a professional CPA. Remember, it’s NEVER too late!!

To follow Luke on Twitter, you can find him here.

Live Simply, Love Freely,

Catherine