Podcasts about summit cpa group

In today's rapidly evolving financial landscape, small business CFOs are navigating complexities that demand more than spreadsheets and manual processes.In this episode of The Modern CPA Success Show, Ahikam Kaufman, co-founder and CEO of SafeBooks AI, explains how AI is transforming financial operations, enhancing data integrity, and streamlining decision-making. With over 20 years of experience in Fintech and corporate finance, Ahikam shares practical insights on using technology to elevate CFO strategies beyond traditional boundaries.From automating transaction monitoring to strengthening financial data governance, Ahikam discusses real-world solutions that empower CFOs to focus on strategy rather than spreadsheets. His expertise sheds light on how AI-driven automation reduces errors, improves efficiency, and creates room for deeper financial insights. Tune in now if you're ready to take your financial processes to the next level and ▶️ SafeBooks AI: How AI is Shaping the Future of Small Business CFOs? With Ahikam KaufmanEpisode resources:● Summit Virtual CFO by Anders website: https://www.summitcpa.net/ ● If you have questions or would like to be a guest on the show, email us at mcpasuccessshow@anderscpa.com ● Check out the Virtual CFO Playbook Course: https://anderscpa.com/virtual-cfo-services/vcfo-playbook/ QuotesAhikam Kaufman - "Automation and AI should be your best friends. Whatever can be automated should be automated."Tom Wadelton: "The biggest value we can provide to clients is not just doing the work faster, but doing it more accurately and catching issues before they become bigger problems."Adam Hale - "There's a lot of different tools out there, but really just start with understanding what the problem is first and then attack it from that direction."Ahikam Kaufman is the CEO of SafeBooks AI, a technology executive with deep expertise in Fintech, SaaS, business operations, and corporate finance. He has led and scaled global businesses, using technology to streamline financial processes and drive growth. At SafeBooks AI, he empowers small business CFOs to optimize decision-making through AI-driven solutions.Website: http://www.safebooks.ai/Facebook: https://www.facebook.com/ahikam.kaufmanLinkedin: https://www.linkedin.com/in/ahikam-kaufman-688310/_________________________________________________________________________________________The Modern CPA Success Show is the go-to podcast for accounting firm owners eager to enhance profitability and master Virtual CFO services. This podcast leverages combined expertise in delivering top-tier Virtual CFO services across North America.Website: https://the-modern-cpa-success-show.simplecast.com/  Facebook: https://www.facebook.com/vcfobyanders  Linkedin: https://www.linkedin.com/company/vcfobyanders/ Instagram: https://www.instagram.com/vcfobyanders YouTube: https://www.youtube.com/@vcfobyanders   X: https://x.com/vcfobyanders ________________________________________________________________________________________Tom Wadelton is a Virtual CFO at Summit CPA Group, bringing

In this insightful episode of our podcast, we're excited to host Jody Grunden, a renowned accounting visionary and co-founder of the innovative Summit CPA Group, now known as Summit Virtual CFO by Anders. With over two decades of experience, Jody brings a wealth of knowledge in financial management, particularly for service-based companies.Join us as Jody delves into the critical aspects of financial management, including effective strategies for cash flow management, the importance of Key Performance Indicators (KPIs), and the art of forecasting in service-based businesses. This episode is a deep dive into how understanding and leveraging these financial tools can propel a business's growth and stability.Takeaways:Jody's Journey: From founding Summit CPA Group to merging with Anders CPAs + Advisors and becoming a leading provider of Virtual CFO Services.The Financial Four: Jody discusses the four most important financial metrics for growing your business.Industry-Specific Metrics: Learn how to use industry metrics to foster growth and become a thought leader in your field.Virtual CFO Services: Exploring the benefits and processes of managing finances remotely for service-based companies.KPIs and Cash Flow: Jody shares insights on tracking key metrics for maintaining a healthy financial pipeline.Building a Successful Remote Team: Jody talks about cultivating a strong culture within a distributed team and the impacts on business success.Future-Focused Forecasting: How forecasting can play a pivotal role in business strategy and decision-making.Become a supporter of this podcast: https://www.spreaker.com/podcast/brews-business--5630487/support.

Like the show? Send us a text message on what you liked.As I think about our next guest, Jody Grunden, he reminds me of the successful business leader who Mixergy's Andrew Warner should feature. Jody co-founded Summit CPA Group in the early 2000s and decided to focus on financial leadership instead of offering the conventional services many small firms provided.This discussion addresses the accounting shortage, effective accountants, and why accounting professionals have nothing to fear about AI technologies.FranchiseU!FranchiseU! is for those in, or considering, careers within the world of franchising. Listen on: Apple Podcasts Spotify

Jody Grunden is an accounting visionary with over 20 years of experience. He has helped pioneer innovative changes within the industry, including the introduction of the first subscription-based billing method employed by an accounting firm. He is the author of two books, Digital Dollars and Cents and Building the Virtual CFO Firm in the Cloud. Together with his partner Adam Hale, Jody co-founded Summit CPA Group in 2002. It was the first fully distributed accounting firm in the country. In 2020, Summit merged with Anders CPAs + Advisors, and is now recognized as Summit Virtual CFO by Anders. Jody's specialties include Virtual CFO Services, Creative Agencies, and Remote Team Management. Listen to this informative Sharkpreneur episode with Jody Grunden about the evolution of virtual CFO services. Here are some of the beneficial topics covered on this week's show: - How being innovative, solving problems, and always looking to improve processes and services will lead you to success. - How a virtual CFO is perfect for companies who cannot afford a full-time CFO. - Why going completely virtual fueled the firm's growth. - How having a subscription-based billing model provides clients with predictable fees. - How it's vital to document processes and maintain a strong culture during mergers. Connect with Jody: Guest Contact Info X @vcfobyanders Instagram @vcfobyanders Facebook facebook.com/vcfobyanders LinkedIn linkedin.com/company/vcfobyanders Links Mentioned: summitcpa.net Learn more about your ad choices. Visit megaphone.fm/adchoices

Season 5 Episode 24 FACULTY: Paul Seaton, CPA a.k.a. Rev. Swaggy P CLASS: #SocialStudies In this engaging podcast episode, Scott dives into a conversation with Rev. Swaggy P, also known as Paul Seaton, CPA, and the Founder of Agency CFO. The episode unfolds the intriguing journey of Rev. Swaggy P, from his role as an almost Catholic Priest to becoming a Cloud CPA and CFO. Shout Outs: Marcel Petitpas, Parakeeto, Ron Baker, Jody Grunden, Summit CPA Group, Brian Soloentrop, @SoleyBusiness, Jason Staats, Roman Villard Chapters: 00:09:01 Introducing Rev. Swaggy P 00:11:12 From REV to CPA 00:15:05 Becoming a Cloud CPA 00:18:45 Working at Summit CPA Group 00:22:13 The Summit CPA Group Client Meeting Structure 00:28:13 Leaving Summit to Build a Firm 00:31:27 Paul Going Viral on Tax Twitter 00:40:36 Early Years of the Firm 00:42:41 Marketing and Hiring Intentionally 00:51:43 Lessons Learned from Too Many Meetings 00:56:12 Swaggy P 00:59:02 Bridging the Gap Between CFO and Tax Accountants Tags: marketing, social media, Twitter, LinkedIn, branding, niche, vertical, pricing, value, positioning, hiring, team building, leadership, delegation, systems, processes, consulting, advisory, profitability, growth --- Send in a voice message: https://podcasters.spotify.com/pod/show/accountinghigh/message

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ Topics discussed in this episode include:Tips on defining roles within your 401(k) plan to promote more cohesionThe importance of access reviews and why access levels are an equally important part of the discussionBenefits of a compliance calendar, plus tips to create one that helps you meet deadlines and improve processesWhy hiring an investment advisor could help improve participant satisfaction and be a part of your due diligenceEpisode resources:Watch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director and 401(k) Audit Practice Leader, Kim Moore, with questions.

How to Scale Your Business with Strategic Financial Leadership Discover the secrets to improving cash flow and making informed financial decisions in your business with Jody Grunden.  Jo is an accounting visionary with over 20 years of experience. He has helped pioneer innovative changes within the industry, including the introduction of the first subscription-based billing method employed by an accounting firm. He is the author of two books, Digital Dollars and Cents and Building the Virtual CFO Firm in the Cloud. Together with his partner Adam Hale, Jody co-founded Summit CPA Group in 2002. It was the first fully distributed accounting firm in the country. In 2020, Summit merged with Anders CPAs + Advisors, and is now recognized as Summit Virtual CFO by Anders. Jody's specialties include Virtual CFO Services, Creative Agencies, and Remote Team Management. Through his virtual CFO services, Jody has revolutionized the way businesses approach their finances, providing customized strategies and forecasts to drive success. In this episode, you will learn the following: Streamline your business finances with virtual CFO services for improved cash flow and financial metrics. Optimize your business operations with efficient systems and processes to boost profitability. Gain access to different tiers of support and services tailored to your business needs. Uncover the secrets to maximizing profitability and cash flow for long-term business success. Learn how to manage cash flow effectively and make informed financial decisions that drive growth. Links: https://www.summitcpa.net/   Hi, I'm the Profit Answer Man Rocky Lalvani! I help small business owners simplify their financial reports to make more informed business decisions with fewer hassles. We utilize the Profit First system created by Mike Michalowicz Sign up to be notified when the next cohort of the Profit First Experience Course is available! Schedule your free, no-obligation intro call: https://bookme.name/rockyl/lite/intro-appointment-15-minutes Check out our website: http://profitcomesfirst.com/ Questions: questions@profitanswerman.com Email: rocky@profitcomesfirst.com Relay Bank (affiliate link) - https://relayfi.com/?referralcode=profitcomesfirst  Profit Answer Man Facebook group: https://www.facebook.com/groups/profitanswerman/ My podcast about living a richer more meaningful life: http://richersoul.com/ Profit First Toolkit: click here to sign up This episode is part of the SMB Podcast Network. Find other great interviews from around the internet just like this one at https://www.SMBPodcastNetwork.com Music provided by Junan from Junan Podcast Any financial advice is for educational purposes only and you should consult with an expert for your specific needs. #profitfirst

Special guest Jody Grunden takes us through his unorthodox approach to revolutionizing accounting. From managing an unexpected influx of resumes during a client meeting to boldly embracing remote work in the financial sector, Jody shares real stories of grit and innovation. Explore the practical side of his game-changing subscription-based billing model, eliminating billing surprises and reshaping client interactions. Uncover the raw realities, challenges, and unexpected opportunities that defined his path, leading to a successful merger. If you're eager to challenge industry norms and gain actionable insights into reshaping financial practices, don't miss this episode.   Jody is the co-founder of Summit CPA Group, a trailblazing firm that pioneered fully distributed operations and became the top provider of Virtual CFO Services in North America. In 2022, Summit joined forces with Anders CPAs + Advisors, rebranding as Summit Virtual CFO by Anders. This merger brings numerous advantages to Anders, aligning with Jody's vision of changing the way people think about accounting.    These include enhancing the "hybrid" work environment, establishing thought leadership in Virtual CFO Services, and adopting a progressive weekly subscription billing model.   Want to find more from Jody? Check out… https://www.summitcpa.net/ ------------------------------------------------------------------ Want more Business Choreography?  Check out… Business Choreography Website  Join The Business Choreography Group  Text Us "CHOREO NOW" To Get Started: 385-442-7188   Need the tech to build your Business Choreography? Check out.... ChoreoSuite  

Jody Grunden, the founder of Summit CPA Group, was a trailblazer in establishing one of the first CPA firms specializing in virtual CFO services. They recently achieved an impressive $10 million in revenue. What propelled Jody's success? The key lies in his commitment to regular client meetings. In this enlightening discussion, Jody unveils his strategy of revolutionizing client relationships by transitioning from traditional monthly engagements to weekly touchpoints. Tune in now to unlock the potential of this simple yet transformative shift, enabling you to enhance your advisory services and propel your firm's growth to new heights.SponsorShareFile - https://earmarkcpe.promo/sharefileChapters (00:00) - Welcome To The Earmark Podcast (01:27) - What inspired Jody to start his firm, and how did he start doing CFO work and not just compliance? (06:13) - Jody wanted to find what his firm could change from the traditional model (13:12) - Automatically charging clients for your services (20:18) - What do you do for a typical client? (32:20) - The importance of having a dynamic forecast (35:32) - Where did you learn to do this driver based modeling? (37:22) - How do you staff these engagements? (43:15) - Only do tax returns for clients you do the books for (44:29) - How did you get into doing remote work? (51:30) - Jody has always invested in marketing and now content (55:20) - What made you choose Anders over other firm merger possibilities? (58:30) - Jody's 5 requirements for selling or merging his firm (01:06:27) - Wrap up and where people can learn about Summit and find Jody online Sign up to get free CPE for listening to this podcasthttps://earmarkcpe.comDownload the Earmark CPE App Apple: https://apps.apple.com/us/app/earmark-cpe/id1562599728Android: https://play.google.com/store/apps/details?id=com.earmarkcpe.appConnect with Our Guest,  Jody GrundonLinkedIn: https://www.linkedin.com/in/jodygrunden Website: https://www.summitcpa.net/ Connect with Blake Oliver, CPALinkedIn: https://www.linkedin.com/in/blaketoliverTwitter: https://twitter.com/blaketoliver/

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ “We always say that you can outsource the responsibility, but you can't outsource accountability. And you as the fiduciary are responsible. Even though you have hired this third party and you have a contract and everything else, you're still ultimately responsible for whatever happens. So, if something goes wrong and the money gets dispersed to the wrong person, you could be held liable.”Topics discussed in this episode include:How failure to comply with ERISA, DOL or IRS compliance guidelines can result in hefty fines, legal action and even jail time for plan fiduciariesThe importance of obtaining a fidelity bond, also known as an ERISA bond, even if a third-party administrator says it's not necessaryDiscrimination testing best practices to ensure timely compliance so you can avoid paying excise taxesWhy plan sponsors and administrators should regularly review plan distributions Episode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director and 401(k) Audit Practice Leader, Kim Moore, with questions.

Season 5 Episode 1 FACULTY: Jody Grunden CLASS: #GuidePosts TITLE: Growing a Profitable Remote CFO Accounting Firm (feat. Jody Grunden, CPA) In this podcast episode, Scott interviews Jody Grunden, CPA, co-founder of Summit CPA Group and author of two books, to discuss various topics related to running an accounting practice and building virtual CFO services, dressing "professionally", and niching down. Introduction and an update on recent developments since the last interview. The origin story of Jody's Hawaiian shirts Scott shares his similar wardrobe story Discussing the evolution of “professional attire” in the accounting profession Exploring the benefits and challenges of running a remote accounting firm The importance of finding a niche and specializing in the industry Creating CFOs from accountants within the firm and the training and development process Utilizing retreats and building a strong company community Addressing the resistance to change in the accounting industry and the need for adaptation Insights into the day-to-day operations and growth goals at Summit CPA Group Scott and Jody discuss the acquisition of cloud firms, venture capital, and private equity Shout Outs: Tommy Bahama, Accounting Salon, Kenji Kuramoto, AICPA, Karbon, Dave Barrett, Matthew May, Acuity --- Send in a voice message: https://podcasters.spotify.com/pod/show/accountinghigh/message

This week on the Digital Velocity Podcast, Jody Grunden of Summit CPA Group joins Erik and Tim to discuss why effective employee management, proper technology implementation, and solid company culture are all key components of a successful remote team. https://www.digitalvelocitypodcast.com/episodes/46-remote-team-management-jody-grunden

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ “[Cybersecurity protection] is not something in passing that [the Department of Labor is] involved in, not something that once a breach occurs, now they're gonna get involved. They're trying to be more preventative. We're trying to get the information out to all of our clients, as well as anyone listening here: this is something you need to pay attention to.”Topics discussed in this episode include:Plan sponsors have a fiduciary duty to ensure the safety of participants' assets from fraud, even if the funds are managed by a service providerThe Department of Labor may ask about your company's cybersecurity protections during unrelated visits to test your readinessDocumenting proactive, annual risk assessments and quarterly or monthly control reviews is a critical way to provide proof of good-faith effort to keep your plan and participants protectedERISA bonds will not cover a fraud situation, so invest in an insurance plan to keep your plan and your company covered in case of a breach.Episode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director and 401(k) Audit Practice Leader, Kim Moore, with questions.Discover how Anders Technology Groupworks with your organization to protect against cyber threats.

My guest is Jody Grunden! Jody is a Partner at Anders CPAs + Advisors,  an accounting visionary with over 20 years of experience. Jody co-founded Summit CPA Group, a trailblazing firm that pioneered fully distributed operations--making it the first fully distributed accounting firm in the country--and became the top provider of Virtual CFO Services in North America. In 2022, Summit joined forces with Anders CPAs + Advisors, rebranding as Summit Virtual CFO by Anders. This merger brings numerous advantages to Anders, aligning with Jody's vision of changing the way people think about accounting. These include enhancing the "hybrid" work environment, establishing thought leadership in Virtual CFO Services, and adopting a progressive weekly subscription billing model. Summit Virtual CFO by Anders provides professional Virtual CFO Services to more than 100 companies across the United States, helping business owners dive deep into the financial side of their business to maximize profits, minimize taxes, and increase cash flow. Jody is also an industry speaker and a published author. He literally wrote the book on helping digital companies create a financial roadmap to success, Digital Dollars and Cents. Social and Website: Facebook - https://www.facebook.com/vcfobyanders Twitter - https://twitter.com/vcfobyanders, Jody Grunden (@jgrunden) / Twitter TikTok - https://www.tiktok.com/@vcfobyanders Instagram- https://www.instagram.com/vcfobyanders/ LinkedIn - https://www.linkedin.com/company/1258494/admin/,  (43) Jody Grunden, CPA | LinkedIn YouTube - https://www.youtube.com/@vcfobyanders Website - Summit Virtual CFO by Anders (summitcpa.net) For more episodes and information, visit us at https://www.digitalnicheagency.com/media Apple Podcasts: https://podcasts.apple.com/us/podcast... Spotify: https://open.spotify.com/show/4zS5V79... Stitcher: https://www.stitcher.com/s?fid=524781... Follow Digital Niche Agency on Socials for Up To Date Marketing Expertise and Insights Facebook: https://www.facebook.com/digitalniche... Linkedin: https://www.linkedin.com/company/digi... Instagram: DNA - Digital Niche Agency (@digitalnicheagency) • Instagram photos and videos. Twitter: https://twitter.com/DNAgency_CA YouTube: https://www.youtube.com/channel/UCDlz… #marketingtips #advice #marketingquotes #socialmediagency #marketingagency #startup #marketingtools  #socialmediaexperts #marketingguru #digitalmarketers #searchengineoptimization #entrepreneurship #smallbusiness #crowdfunding #marketing #strategies #websitetraffic #instagramads #socialmediamarketing #content101 #contentcreation #businesspodcasts #JasonFishman, #ShariNoonan  #mentorpodcast #educationalpodcast

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ “It can be worse than time-consuming to fix administrative errors, it can be very costly. Make sure you leave time in your schedule to review the forms, make sure they're correct and get them filed on time.”Topics discussed in this episode include:Guidance on how to extend deadlinesA breakdown of the different schedules and how they apply to 401(k) plansTips for avoiding penalties and fees caused by inaccuracies on your Form 5500Instructions on how to work with a third-party service provider to keep the process moving forwardEpisode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director and 401(k) Audit Practice Leader, Kim Moore, with questions.

In this episode Jody Grunden, Co-founder of Summit CPA Group and Partner at Anders CPAs + Advisors, joins our host Diane Helbig to discuss the role of dynamic forecasting in ensuring business growth. With more than 20 years of experience in public and private accounting, Jody has discovered that many small business owners don't know why they need a forecast; and if they do know that they need one, oftentimes, they aren't sure how to create one. Jody Grunden is an accounting visionary with over 20 years of experience. He co-founded Summit CPA Group in 2002. As the leading provider of Virtual CFO Services in North America, Summit provides professional Virtual CFO Services for over 100 companies across the US, helping business owners dive deep into the financial side of business to maximize profits, minimize taxes, and increase cash flow. Jody is also an industry speaker and a published author. If you are a small business owner or salesperson who struggles with getting the sales results you are looking for, get your copy of Succeed Without Selling today. Learn the importance of Always Be Curious. Each episode of this podcast provides insights and education around topics that are important to you as a business owner or leader. The content comes from people who are experts in their fields and who are interested in helping you be more successful. Whether it's sales challenges, leadership issues, hiring and talent struggles, marketing, seo, branding, time management, customer service, communication, podcasting, social media, cashflow, or publishing, the best and the brightest join the host, Diane Helbig, for a casual conversation. Discover programs, webinars, services, books, and other podcasts you can tap into for fresh ideas. Be sure to subscribe so you never miss an episode and visit Helbig Enterprises to explore the many ways Diane can help you improve your business outcomes and results. Learn more about your ad choices. Visit megaphone.fm/adchoices

Visit thedigitalslicepodcast.com for complete show notes of every podcast episode. In this episode of The Digital Slice Podcast, Brad Friedman and Jody Grunden, co-founder of Summit CPA Group, chat about the efficiency of having a virtual CFO on your staff and other must-know business tips intended to help you grow your business even if all your employees are virtual. Jody co-founded Summit CPA Group, which merged with Anders CPAs + Advisors in 2022. Summit, now a division of Anders, was the first fully distributed accounting firm. As a leading provider of Virtual CFO Services in North America, Summit provides professional Virtual CFO Services for over 100 companies across the United States, helping business owners dive deep into the financial side of their business to maximize profits, minimize taxes, and increase cash flow.

Jody Grunden is the co-founder of Summit CPA Group, a leading provider of Virtual CFO Services that merged with Anders CPAs + Advisors in 2022. The Summit CPA Group provides virtual CFO services for over 100 companies across the United States.Resources:Summit CPAConnect with Jody on LinkedInGet the first three chapters of Content Marketing Secrets for freeConnect with me on LinkedIn

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ “But I would caution you if an auditor is…half of all other ones… I would be a little bit suspicious of why are their costs so much less. Maybe they have a valid reason…but at the same time if they're trying to get into something that they really don't know what they're doing, that's one of the ways that'd be a red flag.” Topics discussed in this episode include:Questions to ask to verify a potential auditor's qualificationsThe differences between billing and pricing methods used by auditing firmsResources to use to find a qualified auditorDeciding between a local auditor and a remote firm, plus the benefits and costs to both optionsEpisode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.

Jody Grunden, CPA, the co-founder and CEO of Summit CPA Group, isn't afraid to fail — he says he's done it many times over the years. The firm, now part of Anders CPAs + Advisors thanks to a 2022 merger, is an innovator in several aspects of client billing and payment, from getting away from paper checks to escaping the “rat race” of hourly billing. Grunden, the author of two books, explains on this episode of the Journal of Accountancy podcast some about Summit's journey, why his co-founder at first was against a move to remote work, and why his approach to risk is more about developing a workaround than deciding to retreat.

*Want one piece of business strategy delivered daily to your inbox?* Subscribe here: geraldinecarter.com/subscribe   Many CPAs work until they're done. And they either hand their firm down, sell it, or turn off the lights and close the door. Some miss an opportunity to be more strategic about what they choose to build with an eye toward future value creation.  Here today to talk with me about this is my guest, Jody Grunden.  Jody is the co-founder & CEO at Summit CPA Group, A Division of Anders CPAs + Advisors. Summit CPA is the leading provider of Virtual CFO Services in North America.    Highlights: — “High growth and high profit, those are the two big things that companies look for.”  — “Being remote accelerated growth, because now we could go anywhere and hire anywhere.” — “There's a great opportunity to get rid of existing clients that are preventing you from making changes [to improve your firm].” — “Take advantage of the remote atmosphere, whether it's hybrid or fully remote. This is the perfect time.” — “The most important factors: niche, go remote, and take risks.” Connect with JODY: Website: https://www.summitcpa.net/ LinkedIn: www.linkedin.com/in/jodygrunden Twitter: @jgrunden and @SummitCPAGroup Previous episode with Jody: 086 Secrets of Shifting to vCFO Services, with Jody Grunden https://businessstrategyforcpas.com/086 Book mention: Time's Up!: The Subscription Business Model for Professional Firms, by Ron Baker and Paul Dunn https://www.amazon.com/Times-Up-Subscription-Business-Professional/dp/1119893526 Software mentions: Reach Reporting: ​​https://reachreporting.com/  

In this episode of Small Business Nation, our guest is Jody Grunden, the owner of Summit CPA Group. Jody joins the show to discuss the financial side of businesses and how to maximize profits, minimize taxes, and increase cash flow. Summit CPA Group is a division of Anders CPAs and Advisors, which is the first fully distributed accounting firm and leading provider of virtual CFO services in North America. Jody is also an industry speaker and author of the book "Digital Dollars and Cents," which helps digital companies create a financial roadmap to success. KEY POINTS FROM THIS EPISODE:  Jody is the guest on Small Business Nation and he helps business owners dive deep into the financial side of their businesses to maximize profits, minimize taxes, increase cash flow.Summit CPA Group Summit merged with Anders CPAs and Advisors in 2022, now a division of Anders is the first fully distributed accounting firm and as the leading provider of virtual CFO services in North America.Summit provides professional virtual CFO services for over a hundred companies across the United States.Jody's company, Summit CPA Group, started as a traditional accounting firm but shifted to a virtual CFO service.The company used SEO and inbound marketing to grow its client base, and also niched its service to focus on the creative agency industry.The company's revenue has grown significantly, currently at $12 million with 60% of clients in the creative agency spaceThe company is 100% remote and 100% inbound marketing, with clients coming to them without the need to reach out to prospects.The virtual CFO helps business owners make decisions by sitting alongside them in weekly or monthly meetings.The virtual CFO helps business owners to be a stronger leader and make sound decisions by sharing worries, issues and all the different things that are affecting the company.A strategy for pipeline adjustment is used to determine short-term capacity and resource needs for a businessSubscription business models are preferable because they provide predictable revenue that can be counted on for payroll and managing growthFour key metrics to focus on for a successful business: cash metrics, production metrics, financial metrics, and pipeline metrics.Reach Reporting is a tool that can be used for reporting and forecasting, and Gaff JIRA V and Plant Guru are also useful for forecasting.Common financial mistakes include not having enough cash in the bank, and taking all of the money out of the business.The rule of thumb for cash in the bank is to keep at least 10% in reserve at all times.Paying taxes is a good thing, as it means the business is doing well. LINKS MENTIONED IN THIS EPISODE: Summit CPA Group Jody Grunden on Linked In Jody Grunden on Twitter Andrew Brockenbush on Twitter Beefy Marketing Beefy Marketing Blog Small Business Nation

Season 4 Episode 4 | Recorded December 27, 2022 Don't be tardy to the Coach Mackenzie party! That's right, you're listening to VarsityTips, formerly known as #NiksTips with Scott and Nikole, where they sit down and discuss a hot topic to get Nik's hot takes and tips. It's the same show you've grown to know and love, we're just calling it something new to fit the curriculum here at Accounting High. So lace up your sneaks and stretch out because VarsityTips is now in session. What happened last year? Trips Blessed to get away in January Ron Baker Marathon Preview Niks shifted away from CFO services Learning from failures Vices FreshPAC and other Trips The birth of Accounting High Pivotal Moments Vegas, Baby! Mexico Niks and her sports Moving to new positions Fast and slow lanes Outreach Learning from others Stay tuned for part 2… Scott Scarano Stories (S3X) More Teasers Accounting High Times with Byron Moving up and getting better Thank you to the audience Shoutouts Gusto, Will Lopez, David Leary, QBConnect, FreshBooks, Jason Staats, Blake Oliver, David Emmerman, Byron Patrick, Genie Whitehouse, Sarah Prevost, Dan Luthi, Keeper, James Ashford, Karbon, Ashley Carrol, Liz Mason, Paul Seaton, Jody Grunden, Summit CPA Group, Xero, AppyCamp, Deeper Weekend, Ron Baker, David Barrett --- Send in a voice message: https://anchor.fm/accountinghigh/message

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/“If it's a first-year audit, they usually take a little longer, as you can imagine. I get calls from people that this is a first audit and they say, ‘Can you do my audit tomorrow?' I can start tomorrow, but I'm not going to finish it in a day. That's just not even possible. So you want to make sure that you talk to your auditor about timing.”The information discussed in this episode includes:A walkthrough of the general layout of a first-time 401(k), from first steps to closing out an auditImportant timing considerations to understand before beginning your audit to avoid costly delaysHow best to prepare necessary documents in time for the audit to maximize efficiencyEpisode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ “Getting that [third-party administrator] questionnaire turned around quickly is really important, as well as if the provider's asking you for some type of year-end payroll report, a census, those are terms we see a lot. That is going to get folded into the discrimination testing that your service provider's going to do, and that's very important that that gets done, that it's accurate and that it's timely.”Topics discussed in this episode include:How auto-enrollment can drive high plan participation and lower your organization's risk of failing discrimination testingWhat triggers the need for your first 401(k) audit and details to help you prepareWhy “compliance calendars” are absolutely critical to run a plan as smoothly as possible despite how overwhelming it may initially feelEpisode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.

Paul and Mo are joined by Jody Grunden, co-founder of Summit CPA Group and together they discuss Virtual CFO Services and what a typical client engagement looks like for those services. They also talk about forecasting and KPIs.

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ “If you delay getting us the information and there's a problem, it can't get resolved. More than likely, your audit is going to be late just because we've got others to work on. It's just the way it is. You have the fiduciary responsibility over the plan. So anything you can do to help us figure out those problems is going to be greatly appreciated by your auditor, but will also save you a lot of time and help you to file on time.”The finer details in this episode:Tips and tricks to speed up the audit processImportance of working with an auditor on missing paperworkThe role of a third-party provider on the audit process

Adam takes a deeper dive into being one of the first fully remote companies in the country and the challenges he had to face and overcome in his career. He also teaches us more about ingenuity in the face of crisis.

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ "It does have some pretty big implications for those of you that either are a 401k plan participant or if you are the planned sponsor of a 401k plan, we wanted to kind of keep you updated so this doesn't hit you as a surprise because we do believe it's going to become law. It's just a matter of when and exactly what's included in the bill" - Kim Moore The finer details in this episode:Secure Act 2.0 major provisions and their implications explainedQualifications and requirements that participants and plan sponsors need to knowWhat does this mean for younger professionals? for part-time employees? for employers?Episode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ "We're very excited about the possibilities...the joint marketing, the results of that, how that plays into the rules going forward, and the way that impacts our interactions with clients and prospects going forward are some of the really exciting parts of the combination." - Mark HensonIn this episode, Kim Moore and Mark Henson discuss the merger of Summit CPA Group with Anders CPAs + Advisors, a Top 100 St. Louis-based CPA and advisory firm. For more details on the merger, visit: https://anderscpa.com/anders-and-summit-cpa-group-to-merge/The finer details in this episode:What does it mean for Summit CPA's audit team now that Anders and Summit is merging?What are the differences and similarities of the services that Anders and Summit provide?How does this merger impact operations, marketing, and client management?Episode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.

This week I'm interviewing Jody Grunden co-founder and CEO of Summit CPA Group, a leading Virtual CFO firm in the creative agency space. We are talking about scaling, removing yourself from your firm, offering CFO services, building an amazing virtual team culture, and lots of things in between.After we stopped recording, I told Jody I wished I'd found his firm when I was still working in corporate because I totally would've worked for him. If you're not ready to start your own firm or know it isn't for you but you want to work for an awesome virtual firm, they're always growing and hiring, so go check them out!Connect with Jody on LinkedIn: https://www.linkedin.com/in/jodygrunden/Listen to Jody's Podcast: https://www.summitcpa.net/podcastsGet the Virtual CFO Playbook: https://vcfoplaybook.summitcpa.net/Thanks for listening. For more information about the Ambitious Bookkeeper Podcast or interest in our programs or mentoring visit our resources below:Visit our website: ambitiousbookkeeper.comFollow the Blog: ambitiousbookkeeper.com/blogConnect on Instagram: instagram.com/ambitiousbookkeeperConnect on LinkedIn: Linkedin.com/in/SerenaShoupConnect of Facebook: Facebook.com/serenashoupcpaPodcast Publishing ToolsPodcast Editing: Ian Gilliam: iangilliam.comDescript (affiliate link)Buzzsprout (affiliate link)

Season 2 Episode 16 | Recorded January 10, 2022 Today we'll learn about Jody Grunden's CPA journey and how his firm went from $0 in 2002 to $9 million plus in 2022. By taking the non-traditional route in accounting – combining vision and integration to form a biz model that really, really works - Summit CPA Group is a shining example what TO do! shout out to our sponsors this week; Xero and Gusto's People Advisory Accelerator, go to gusto.com/training and type in the code sons100 for $349 off Meet Jody: LinkedIn: https://www.linkedin.com/in/jodygrunden/ Jody is not the son of a CPA, but he's the first person in his family to go to college. Why Summit CPA Group is different: Dress code Killing overtime for the entire team eradicating the hourly billing model Figuring out what the clients want Why forecasting is key – go forward, not back Defining the why and when of meetings – forecasting, pipeline, rev-rec, and the floater How the fixed-fee model nearly tanked Summit Why Summit CPA Group has no accounts receivable Form and function – explaining the Summit “pods” and their processes The Wow factor – not charging more for unexpected issues, such as PPP Setting, managing, and exceeding expectations – just do it! The Summit CPA niche – creative agencies over $1m in revenue What's the next step in the evolution? The 2FA (or 3) of scaling pricing – revenue, employee count, and industry Giving clients the Carvana experience Why soft skills matter at Summit Talking compensation What did Jody learn while he was growing the practice? Figuring out your pricing model is the #1 priority Making the Summit model the new normal Check out Summit's free CPE webinars here: https://www.summitcpa.net/cpe-webinars or get the Virtual CFO Playbook here: https://www.summitcpa.net/vcfo-playbook Why Summit used cartoons to set themselves apart Shout-out to Indiana University, Darren Root, and Rootworks, Crowe, BKD, Summit CPA Group, Adam Hale, Netflix, The Summit City (Fort Wayne, IN), DCPA --- Send in a voice message: https://anchor.fm/sonsofcpas/message

" Just because things are going well doesn't mean they can't be better. So that's what we try to live by. " - Robert Minkler Jr. The finer details of this episode :The merger story of Summit CPA and AndersHow the merger benefits both Summit CPA and AndersWhat stakeholders should expect with the mergerEpisode resourcesSummit CPA website - www.summitcpa.netEmail us with questions - cpa@summitcpa.net Summit CPA Group to Merge with Anders CPA + Advisors

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ "I always describe the, the audit timeline as an airplane on a runway. You know, it takes so much runway to get the airplane off the ground and into the air. Depending on the size of the airplane and how much cargo it is carrying and everything else. You only got so much runway and as you get to the end, the airplane is probably gonna either not take off or crash if you leave it too long." Kim Moore The finer details in this episode:What you should do to communicate and build better relationships with your 401k auditorImportant documentation to prepare and important discussions to haveWhat to expect to avoid miscommunicationEpisode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.

How do you build a Virtual CFO firm that has the ability to truly scale beyond $15M in annual revenue? Well, what you need to do is check out Summit CPA Group and learn from all of the lessons that Adam Hale and the team share about their own journey. To give you a head start we sat down with Adam to discuss some of the key lessons learned -  enjoy the conversation!

"Where we provide a lot of value and solve a lot of problems is when clients have made it past startup and then that growth stage, they're starting to realize they can't keep all the numbers in their head anymore." - Courtney DeRondeThe finer details of this episode :Who is Courtney DeRonde? What does TDT CPAs and Advisors do?What similarities and differences does TDT CPAs and Advisors have with Summit CPA Group?How does these similarities and differences benefit their clients? Episode resourcesSummit CPA website - www.summitcpa.netEmail us with questions - vcfo@summitcpa.net 

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ "We listened to our customers. AuditMiner is so customer-lead. We don't develop a feature unless it's been requested by a customer and we get the customer feedback the whole time." Kelly Mann The finer details in this episode:How AuditMiner came to be? What are the benefits of using AuditMiner?How listening to clients helped in improvements and updatesHow much time savings do clients get when using AuditMiner?Episode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.

"The end of curiosity is that understanding and it's engagement. And if we get to that and then we're going to increase our quality of interactions with our internal stakeholders and with our teammates, we're going to increase the quality of the service we provide to our clients because we are fully engaged. We are better understanding who, who they are and what they want." - Josh JeansThe finer details of this episode :What having curiosity means to Summit CPA Group?In the hiring process, what are Summit CPA's best practices that help qualify candidates who imbibes the core value curiosity?How is curiosity a learned skill and how do we hone it?How does curiosity contribute to developing a team of constant learners? Episode resourcesSummit CPA website - www.summitcpa.netEmail us with questions - cpa@summitcpa.net 

“The type of person that we had to look for to be a virtual CFO is completely different than the type of person that we looked forward to being an accountant.” Jody Grunden My guest today is Jody Grunden. Jody is the CEO and co-founder of Summit CPA Group, which is a fully distributed virtual CFO firm. He has authored two books, Digital Dollars and Cents, and Building the Virtual CFO Firm in the Cloud. He is the winner of multiple awards, including recognition of Tony's Top Innovative Practitioner by cpa.com.  In today's episode, Jody is going to discuss what he's done to position his organization in a way to compete in the accounting profession in a very unique way. Our accounting company was set up with a desire to do things different than other accounting firms. We did the flat fee which allowed us to get rid of the hourly billing completely, as well as have a significant cut on the administrative costs. We created a subscription-based billing where every week our clients got a bill, and got the money zapped out of their account. We started working remotely since 2013 and the business has kind of evolved with the idea of taking risks and doing things that no other firm has ever done. The type of person that we had to look for to be a virtual CFO is completely different than the type of person that we looked for to be an accountant. Accountants think and act completely different where they are risk averse and very to the books. The personalities for virtual CFOs include risk taking, ability to communicate really well with people, high EQI, and can help people to solve their problems. We developed program internally, to be able to help that client or CFO and educate them on how to communicate their messages. It took eight years to figure out how to price my products and to know that people actually will pay for it. The key is pricing it right, so that you can pay your employees well, have happy employees and make sure that the customers are getting satisfaction. In order to have a solid base to give your customers, it takes a lot of trial and error as well as listening to feedback from clients. To learn more, and for the complete show notes, visit: petermargaritis.com   Learn more about your ad choices. Visit megaphone.fm/adchoices

Jody Grunden, co-founder & CEO at Summit CPA Group, joins us to explain how he's built a successful multimillion-dollar accounting firm through a subscription-based pricing model, and enjoys a 94% retention rate. Learn his tips and see how you can apply them in your firm.

"The end of curiosity is that understanding and it's engagement. And if we get to that and then we're going to increase our quality of interactions with our internal stakeholders and with our teammates, we're going to increase the quality of the service we provide to our clients because we are fully engaged. We are better understanding who, who they are and what they want." - Josh JeansThe finer details of this episode :What having curiosity means to Summit CPA Group?In the hiring process, what are Summit CPA's best practices that help qualify candidates who imbibes the core value curiosity?How is curiosity a learned skill and how do we hone it?How does curiosity contribute to developing a team of constant learners? Episode resourcesSummit CPA website - www.summitcpa.netEmail us with questions - vcfo@summitcpa.net 

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ "As long as you talk to your auditor upfront (and say), make sure they're on board, they know what they're doing. They're handling all this properly. Talk about any of these areas that may have peaked your interest that, oh, that sounds like a problem for. Talk to your auditor and do it now. Don't wait." Kim Moore The finer details in this episode:Defining and understanding the SAS 136 - for plan sponsors and auditorsThings to consider when determining what audit you needWhat you need to prepare with your service providers if you are a plan sponsor Episode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.

"Just do it. It's one of those things that if you think about it and you try and make it perfect it never will be. No one working in the office will ever be perfect. So (it's always) come out of your comfort zone and step into the risky area and go remote. You just have to do it." - Jody Grunden The finer details of this episode :What to consider and what to prepare for before going remoteHow to start and how to maintain a remote workplaceWhat helped Summit CPA Group? (Tools, processes, people management)People management strategies Summit CPA Group implemented - what works and what doesn't Episode resourcesSummit CPA website - www.summitcpa.netEmail us with questions - cpa@summitcpa.net 

"Just do it. It's one of those things that if you think about it and you try and make it perfect it never will be. No one working in the office will ever be perfect. So (it's always) come out of your comfort zone and step into the risky area and go remote. You just have to do it." - Jody Grunden The finer details of this episode :What to consider and what to prepare for before going remoteHow to start and how to maintain a remote workplaceWhat helped Summit CPA Group? (Tools, processes, people management)People management strategies Summit CPA Group implemented - what works and what doesn't Episode resourcesSummit CPA website - www.summitcpa.netEmail us with questions - vcfo@summitcpa.net 

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ "Some of this we have talked about before, but what we tried to do is put together twelve (12) that we thought are important to plan sponsors and plan participants." - Kim MooreThe finer details in this episode:What you should consider for your 401k plan in preparation for 2022What you can do to take actionExamples and reminders for plan administrationsThe importance of communication and documentation  Episode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ "We're seeing it all across different disciplines, all different types of employment and what we're finding is that people are quitting - and that really started from probably I'd say January and still continuing on through today - where they're quitting for all kinds of reasons" - Jody GrundenThe finer details of this episode What is "The Great Resignation"?What are the reasons behind this phenomenon?What companies can do to take the employee retention to the next level?Finding candidates, the evaluation process and preventing no-shows.Episode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.

In the fourth episode of our podcast Build a Kickass Offshore Team, we connected to Adam Hale, CPA who is the COO and partner to Summit CPA Group in Indiana. In this episode Chris spoke to Adam about how Offshore Staff give more leverage to the virtual firms like Summit CPA and how these firms can build a distributed team that integrates together and works for higher goals. Company Overview:

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ "You want to allow people to have very specific questions about their situation. Different companies have different needs. (You) Definitely want to get everybody thinking about this. So they're prepared when it's, when it's time." - Kim MooreThe finer details in this episode:What approach should you use? Why is a holistic approach important?Questions to ask your service providers to ensure you know the requirements you need to communicateWhat you need to consider before doing open enrollment Episode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ “The pricing should be transparent. They should be able to tell you what are the factors and why is that important.” - Kim MooreThe finer details in this episode:Why choosing the cheaper service provider is not always better in auditSetting expectations and defining the value of a 401k Plan AuditHow Summit CPA is pricing their 401k Plan audit servicesWhat to consider and what questions to ask auditorsEpisode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.

Jody Grunden, CPA, is the Co-founder and CEO of Summit CPA Group, a company providing virtual CFO and accounting services to help businesses maximize profits, minimize taxes, and build cash flow. Jody started Summit CPA in 2002 and has had a long career as a Tax Accountant for companies including BKD CPAs & Advisors and Crowe LLP. Jody is also an Official Member of the Forbes Finance Council. In this episode: How did one company successfully transition to a fully remote workplace — before it was trendy? What is the TTP model of success? And, how does having the right team and processes create harmony, especially in the accounting industry? Jody Grunden is just the man to ask. Jody is the Co-founder and CEO of Summit CPA Group, a fully remote company offering virtual CFO and accounting services. After making the jump to working from home back in 2013, Jody and his team now know the ins and outs of what makes remote work so successful. Today, he's here to tell you all about it — and give you tips on improving your processes along the way. On this episode of the Systems Simplified podcast, Adi Klevit talks with the Co-founder and CEO of Summit CPA Group, Jody Grunden, about the importance of systems and processes when working remotely. They discuss the benefits of remote work, the intersection between team, technology, and processes, and the key to maintaining company culture and collaboration with a virtual team.

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ “You want to make sure that whoever is doing your audit, knows what they're doing because 401k audits are different than financial statement audits, they have certain quirks to them and your auditor needs to understand that ” - Karen Hill The finer details in this episode:What considerations you need to look at other than priceWhat questions to ask to CPA firms to qualify themWhat is a peer review? Why you'd want to look for a copy of thisClient referrals and the right questions to ask themEpisode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ “It has been a challenge for me, with making sure I'm tying my numbers back and forth, navigating through our online system. We did use Advance Flow at my old job but it wasn't as detail-oriented as Summit is.” - Chasity Price The finer details in this episode:Chasity and Lauren's previous job experiencesUnderstanding different kinds of auditsWhat working remotely is like for them and the identifying challenges of working remotelyWhat are their key learning experiences with Summit CPAEpisode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.

“Building a team that is eager to dive into some of these multi-state tax issues is one of our lessons”- Dave Danic The finer details of this episode How Summit CPA Group Tax Department is set upShifts that Summit CPA Group made internally the past two years under the Tax DepartmentWhat a does a Tax Manager do?What changes did Summit CPA Group do when managing clients Episode resourcesSummit CPA website - www.summitcpa.netEmail us with questions - cpa@summitcpa.netEmail Dave Danic- ddanic@summitcpa.net

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ “A small investment now is definitely worth it, definitely something you would like to talk to your public supervisor about.” - Kim Moore The finer details in this episode:Cyber security, 401k Plans and the governmentImportance of cyber securityWhat you should watch out for to avoid cyber security attacksWhat steps you need to take to protect your business and your clients information Episode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.

Today’s guest is Jody Grunden, is a visionary accountant with over 20 years of experience that has helped pioneer innovative changes to his industry.  Jody is the co-founder and CEO of Summit CPA Group, author of Digital Dollars and Cents. Jody takes us back to 2013 when he arrived at a conference to speak only to have a series of events go wrong that ended with him giving his presentation off the cuff while wearing a Hawaiian shirt and becoming a huge success! Since that fateful event the Summit CPA Group has undergone a lot of changes.  We discuss why they’ve moved to focusing on creative agencies and how thought leadership has become their only form of marketing, and how they are teaching other firms their methods. Getting your thought leadership off the ground is often time consuming and expensive.  Jody shares his experience getting things off the ground, what it took to find success, and how he got his business partner on board with his ideas. If you are looking to develop your own thought leadership or are struggling to find your audience this is a wonderful episode filled with excellent advice! Three Key Takeaways: When delivering thought leadership don’t use jargon the audience might not understand.  Speak in the vernacular of your audience. Even if your thought leadership might be useful to a wide audience, find a space to become a specialist in.  Become a resource to that market so clients come to you for advice. No one will ever care more about your thought leadership than you. You have to have passion and conviction in your delivery to get clients to see you.

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ “It is expected to pass in 2021, and the current expectation is that it will become effective 1/1/2022 and that's not far away....What happens when you put forward a bill like this it has an impact on the budget.” - Kim Moore The finer details in this episode:Secure Act vs. Secure Act 2.0Deep dive on the changes in the Secure ActImpact of Secure Act 2.0 to 401k PlansWhat do you need to do to prepare for the new legislation? Episode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ “You wanna find out from them what happens if I do sign with you and I stay for a while and for whatever reason I decide I wanna go somewhere else....what does that process look like? What are you gonna agree to help me with?” - Kim Moore The finer details in this episode:Does your company need one?What to look for if you plan to hire record keepers/third party administrator servicesThings to consider when planning to switch service providersChoosing which service provider to work with Episode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ “It's not a pleasant situation. The things we are recommending are best practices anyways, you should be doing all those things we talked about not to avoid a lawsuit, but just cause it's the right thing to do and you should care about your employees.” - Kim Moore The finer details in this episode:What to do when you receive a 401k Plan lawsuitUnderstanding 401k plan lawsuit statistics and using this to asses your 401k planWhat can lawsuits cost youWhat can you do as a 401k plan sponsor to avoid lawsuitsMain reasons of 401k related lawsuitsTips a 401k plan sponsor can use to stay on top of 401k plans Episode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ “Planning as early as possible makes the whole process easier.” - Kim Moore The finer details in this episode:Why planning your retirement earlier is importantWhere to start your retirement planningUnderstanding your needs and what you want to achieve for your retirement planTips on managing your retirement plan Episode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ “Nearly 1 out of 2 American households have suffered a significant decline in their income in a time when most didn't have sufficient emergency savings.” - David Ramirez  The finer details in this episode:Thoughts on COVID-19 and how it impacts the 401k spaceCommunications with current and past employees due to the decline in the economyThings you can do to help your employees get through the current economic hardshipCore advice for employees on their 401k planWhy it might not be rational for some of your employees to join your 401k planFees associated with the 401k plans Episode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.For Us All - https://www.forusall.com/Email David - david@forusall.com

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ “As the employer, you have a lot of say in what happens to your employees. You hold a lot of control over an individual, and now their retirement is entrusted in you.” - Kim Moore  The finer details in this episode:The difference between the sponsor, trustee, and administratorWhat your responsibilities are if you are a plan sponsor, trustee, or administratorThe different penalties or fines you could possibly face related to your 401k planAreas of the 401k plan where you want to pay extra attentionOptions you have when you are facing fines Episode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ “Often employees don't get into a plan because they don't know or they are scared. With auto-enrollment, they don't have to do anything to get into a mixed investment portfolio appropriate to their age.” - Kim Moore  The finer details in this episode:What is auto-enrollment?How investments are chosen for auto-enroll plansPros and cons of implementing an auto-enroll planProcesses for notifying employees when they are being enrolledFactors to consider when deciding if you should implement auto-enrollment into your 401k planPossible pitfalls with auto-enrollment and how to avoid themThe process of getting started with auto-enrollment Episode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ “The audit is driven by the number of eligible participants in the beginning of the year. If that number is over 100, then you will need an audit.” - Kim Moore  The finer details in this episode:Due dates for the 5500 and the extension periodWho can file the 5500 on your company's behalfThe process of filing your 5500The point at which you will need an auditImportant details to review on the 5500The auditor's responsibility with the 5500What to do if you can't make the deadline Episode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ “We are hearing from CPA firms that their timeframes are being compressed, and that takes away the time they would use to do the 401(k) audits.” - Kim Moore  The finer details in this episode:Updated tax information for 401ksWill there be extensions and new deadlines available?How the audit process is affected by an increase in remote teamsWhy you shouldn't relax your standardsAspects of your 401k plan that you should check due to the pandemicWhat you can do if you have to file late Episode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ “If the plan document says something other than what you do or meant to do, you need to get that amended to make sure your procedures follow the plan document.” - Kim Moore  The finer details in this episode:Common eligibility errors that companies make for employees entering the planWhat to do with interns and seasonal employeesHow to set service requirements in your plan documentWhy you should document that you offered the plan to your employeeHow to determine if you have a fidelity bondWhat you need to know about discrimination testingBest practices for distributions and loansDisclosures that need to be distributed about your 401k plan Episode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ “The Department of Labor and the IRS understand that errors happen, which is why they set up the voluntary correction fund.” - Kim Moore  The finer details in this episode:Employee compensation factors that you need to track for the 401k planWhy documentation of payroll changes are so importantWhat to do when you didn't withhold when you were supposed to withholdHow to handle late contributionsAligning your payroll schedule with your contributionsMaximizing your contributions for highly compensated employees Episode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ “Make sure you are paying attention to any communication in regard to the 401k plan.” - Kim Moore  The finer details in this episode:What is the SAS 136 and what you need to know as a sponsorWhen this new standard goes into effectWhat you need to do in order to comply with this changeThe requirements for documentation that are now in effect Episode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ “This is a huge opportunity as a company to help your employees to prepare for retirement.”- Kim Moore  The finer details in this episode:What is the SECURE Act?The timeline moving forward with the new lawStatistics and reasons this act passed into lawHow this act will help you encourage your employees to prepare for retirementHow to take advantage of this as a small companyBenefits your business can receive from the actHow to get your employees to participate in your planRequirements you will be expected to meetChanges you need to know about Episode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ “There are a lot of complexities in what drives the price for audits.”- Kim Moore  The finer details in this episode:The average pricing for a 401K audit and what drives the pricingThe difference between a fixed fee audit and a “time and materials” auditThe payment process you can expect once the fee is setOther factors that might make your audit more expensive than averageHow Summit CPA is able to keep their 401k pricing so lowCommon questions we get during the quoting process Episode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ “The most important thing for you as a sponsor is to make sure you understand your plan.” - Kyle Tanaka The finer details in this episode:The process you can expect to follow with the auditing firmThe information you will have to provide to your auditorHow you can prepare for a 401k auditThe importance of asking questions and keeping a dialogue with your auditorHow to get organized before and during the auditWhy you should always keep your payroll data Episode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.AICPA - https://www.aicpa.orgGoToMeeting - https://www.gotomeeting.comSmart Sheet - https://www.smartsheet.com

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ Tweetable: “Make sure you understand the rules. Don't just fly by the seat of your pants because you can get in a lot of trouble.” - Kim MooreThe finer details of this episodeWhen do you need to hire an auditor?Who's liable for a lousy audit?Questions to ask during your search for an auditor.What is the AICPA and why it matters?What is the role and purpose of a fiduciary?A 10,000-foot view of the audit process.What to do if you haven't filed.Episode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.AICPA

Summit CPA Group has merged with Anders CPAs + Advisors! Visit our website to learn more about our 401(k) process and pricing: https://anderscpa.com/401k-audits/ Tweetable: “Don't just hire the first audit firm you find. Don't just hire the cheapest audit firm you find. Ask questions about the quality of the work they're doing.” - Kim MooreThe finer details of this episodeJody's background and how Kim took over the 401(k) audit processKim's background working in auditingWhat level of audit experience does the team have?The key things Kim focused on from the beginningHow does being a “virtual” firm effect the 401(k) audit process?What to look for when hiring an auditor?Episode resourcesWatch episodes of The 401(k) Audit CPA Success Show on YouTube.Learn more about the Anders 401(k) process and pricing.Email our Director + 401(k) Audit, Kim Moore, with questions.AICPAThe Summit CPA backstory (coming soon)

The new tax law ushered in some big changes, leaving many business owners confused over the best way to make the most of their returns. If 184 pages of tax law sounds like a snoozefest to you, you're in luck. Today, we have David Danic, CPA and Director of Tax Services at Summit CPA Group to clear things up. David's sharing his notes and highlighting some important tax savings strategies to work on between now and the end of the year. From 4K TVs to buying season sports tickets, pre-selling services, team bonuses, parties and in-office lunches, some ideas will help you maximize deductions, while others will not. Find out what the new tax law means for your business, why consulting language in contracts might be a bad thing and how to maximize your spending, retirement plans and R&D activities to save come tax time.

Jody Grunden is CEO & C0-Founder of Summit CPA Group - an accounting firm that works exclusively with Agencies. He's also an industry speaker, and a published author. He started Summit CPA Group in 2002, bringing more than 23 years of public and corporate accounting leadership, tax expertise, and executive management experience to his role with the company. With the mission of changing the way that people think about accounting, Summit CPA Group specializes in helping digital agencies manage and scale their financial health through solid forecasting based on both financial and non-financial metrics through its Virtual CFO Services. His latest book, Digital Dollars and Cents: A Virtual CFO's Playbook to help Digital Companies Create a Financial Roadmap to Success can be read on Kindle.