In the previous two blogs, I’ve spoken about the integrated process we use here at Crystal Financial and how this holistic approach helps us work effectively with our clients. For our last blog talking about our integrated process, we are going to focus on how we utilize our network of other professionals to help our clients. Here is a good example that illustrates how this process works:

This client was referred to us by their business bookkeeper/accountant. A few years earlier, they had been treated poorly by a tax preparer. They had also experienced some serious medical issues and had been unable to file their tax returns for several years. They had received numerous letters from the IRS that needed to be addressed.

Our first step was to request some breathing room from the IRS to vie us time to prepare and submit the prior year tax returns. We brought in an IRS expert who, through his connections, obtained a 30-day reprieve from the IRS and special mailing address for the tax returns.

The next step was to prepare the tax returns. To complete this process, we encouraged the client to go through all their records so that we were not missing any sources of income and expenses for their business. At the same time, we educated the client on what expenses are deductible for tax purposes.

While preparing the state income tax returns, we discovered that the federal identification number that was used for the business was incorrect. This incorrect number had also been used on the 1099s the taxpayer’s business had received from clients. To make sure we made the proper corrections to the IRS, we enlisted the help of another tax professional. This person discussed the situation with her colleagues at the IRS and we were armed with the steps we needed to take to rectify this situation.

As you can see, it’s very rare that a client’s financial issues are isolated. There is usually at least one – and sometimes many more – other issues that pertain to the situation and that must be addressed to fully solve a problem and provide the best possible customer service to our valued clients.

Have more questions about how our integrated process works? Please send them over and I would be happy to address them!

Judith Ackland has more than 26 years of experience in accountancy and financial planning, including seventeen years as a CFO of a diverse business. She started Crystal Financial in 2010 to help a wide array of individuals, families, and business owners better understand their finances and how good financial management could help them achieve their goals. Judith has an MA in Professional Accountancy from the University of Nebraska at Lincoln as well as a Certified Public Accountant Certificate and a Certified Financial Planner designation.

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