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The Schulte and Company Difference


The Retained Client Advantage

Many of our business clients pay a flat monthly fee for recurring services such as business income tax returns, financial statements and on-going support.  While unanticipated projects and government inquiries are not included in the retainer, clients that are not retained pay hourly rates and typically incur more fees than they would have if they were retained.  Benefits of being a retained client include;

  • No year end invoice – since the cost of preparing annual income tax returns and/or financial statements is included in the monthly fee, there is no year-end bill.

  • On-going support – Since most conversations, phone calls and email correspondence are included in the flat monthly fee, there is no financial impediment to asking us questions. Add-in at least one face-to-face meeting each fall and there is an open channel of communication that enables us to advise you on items throughout the entire year; not just as a historian after the year is done. 

  • Updated tax estimates – As the tax year progresses, we work with the updated financial results to true-up your estimated tax payments. 

  • Better tax planning – You should expect better tax results when you work with a CPA.  But if the CPA only reviews your financial results after year-end as part of completing an annual tax return, there is only so much that can be done.  With on-going support, and in conjunction with updating quarterly tax estimates, we have time to plan and identify methods to reduce the amount of taxes you pay.

  • Other Recurring and Protective Filing Requirements – As federal and state governments force more compliance we accomplish those additional filing requirements without incremental cost.  For example;

    • Ohio Commercial Activity Tax Payments and Return – We compute payments due and file returns without incremental cost.

    • Ohio Use Tax Return – The manufacturing exemption or resale exemption results in many businesses being substantially exempt from sales and use tax; and therefore, they never file sale/use tax returns, and the statute of limitations never tolls.  Years later, the state of Ohio will conduct an audit and discover some purchases that should have been taxable and substantial taxes will be owed.  To prevent this madness, we often file protective annual Use Tax returns for our retained clients.

    • Corporate Transparency Act Compliance – New in 2024 and required whenever a new entity if formed and when there are changes in ownership.

    • Bureau of Labor Statistics Surveys – Reporting is mandatory.

    • U.S. Economic Census Surveys – Reporting is mandatory.

  • “Inside Pitch” – The S&Co professional staff regularly perform in-depth reviews of retained clients to evaluate if there are ways to improve their businesses.  Team member(s) review retained clients they work with and identify clients that can benefit from new ideas and/or tax planning.  Substantial improvements for retained clients are quantified in dollars and then “pitched” internally to the entire S&Co team (the “insiders”) at a lunch meeting.  At each meeting the S&Co professional(s) that identifies the most savings for a client receives a small prize.  More importantly, clients benefit from an unexpected analysis of their business that may result in substantial tax or operational savings.

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