FREE CPE (1 credit) via EarMark:
https://earmark.app/c/2882

About the Guest: Greg Seay, CPA

Greg is a seasoned tax professional and the owner of a CPA firm based in Arkansas, specializing in real estate investing. He began his practice in 2016, working initially with friends and family before expanding his clientele. In 2023, he significantly grew his practice by acquiring another firm, increasing his client base tenfold. Greg has a keen interest and expertise in tax planning and strategies related to real estate, which led him to focus his practice on serving real estate investors. Greg is an advocate for building strong client relationships and continuously improving processes for a better client experience.

Episode Summary:

In this insightful episode of the Mr. R Show, Greg Seay, a CPA with a niche in real estate investing, shares his journey of scaling his practice. Greg discusses his transition from starting a firm on the side to acquiring another firm and significantly increasing his clientele. He delves into the unique challenges and opportunities presented by scaling quickly, emphasizing the importance of maintaining a strong connection with clients while integrating a larger team. Greg highlights how establishing a niche can lead to more effective and targeted client engagement, providing strategic insights into tax planning for real estate investors.

The conversation extends to the importance of onboarding processes in a specialized CPA practice. Greg underscores the advantages of utilizing digital tools to streamline client interactions and onboarding, ensuring a seamless experience for new clients. He also explains his strategic focus on nurturing centers of influence within the real estate community as a key growth strategy, advocating for quality over quantity in client relationships. The episode serves as a comprehensive guide for tax professionals interested in specializing, scaling, and strengthening client relationships within a niche market.

Key Takeaways:

• Greg started his CPA firm in 2016 and significantly scaled it by acquiring another firm, emphasizing the importance of maintaining client relationships during growth transitions.
• Developing a niche, particularly in real estate investing, allows a tax practice to better serve its clients with specialized knowledge and targeted strategies.
• Effective onboarding processes and clear communication channels with clients are essential for creating a lasting positive impression and establishing a strong client-firm relationship.
• Leveraging networking opportunities within industry-specific groups can be a highly effective way to grow a practice and build a strong client base.
• Transitioning client relationships from the firm owner to the team and service-level focus is crucial for scalability and ensuring clients receive value from the entire firm.

Notable Quotes:

• "I want to have healthy growth over growth on there on. And so it's now it's a matter of kind of learning some of your capacity things like do I, I need to take, I need to give myself some time to decompress and not just be so busy where it's a year round tax season."
• "If I'm saying yes to a bad client, that means I'm saying no to potentially good client on there."
• "The mindset, too. I mean, I think way you carry yourself out, a lot of things bleed over. Your relationships with your team bleeds out into the relationships with your clients and vice versa."
• "Having a single platform for them to get into. I've, what I've seen has been very appreciative on the client side."
• "It's not just a relationship piece. It's. They understand the service that you're doing and the value that you're providing in that service versus just, you know, the conversation with the firm owner."

• (00:00) - Scaling Tax Practices Through Niche Exploration
• (02:07) - Greg's Challenging Journeys to Conferences and Reconnection in Vegas
• (03:45) - Greg's Journey From Solo Practitioner to Real Estate Niche
• (12:03) - Real Estate CPA Branding and Domain Name Strategy
• (14:25) - Transitioning Client Relationships in Firm Acquisitions
• (23:02) - Building Harmonious Team Dynamics and Client Relationships
• (27:25) - Building a Real Estate Niche in CPA Services
• (34:47) - Networking and Expertise in Real Estate and Tax Industries
• (41:39) - Effective Onboarding Practices for Real Estate Tax Professionals
• (49:53) - Balancing Client Relationships and Sustainable Growth in Tax Services
• (54:56) - Scaling and Modernizing Your Tax Practice with Expert Insights

FREE CPE (1 credit) via EarMark:
https://www.earmark.app/c/2819

Guest: Marit Burmood

Marit is a CPA and Enrolled Agent with a specialized focus on influencer tax strategies. After shifting into accounting in her late 20s to launch her entrepreneurial journey, she has spent over a decade building a thriving practice dedicated to serving entrepreneurs—particularly those in the high-profile influencer space. Her experience spans working with high-net-worth clients, teaching fellow tax pros, and sharing insights on national stages. With a master’s degree in taxation and a passion for educating, Marit bridges traditional tax expertise with the modern complexities of the digital creator economy.

Episode Summary

In this episode of The Mr. R Show from the MRR Institute, co-hosts John Tripolsky and Chris Picciurro sit down with Marit Burmood to unpack the unique tax challenges facing today’s social media influencers. From brand deals and platform income to in-kind sponsorships, the conversation explores how these nontraditional revenue streams collide with classic tax rules.

Marit provides practical, real-world strategies for tax professionals navigating mixed-use expenses (like travel, wardrobe, and events), entity selection decisions, and the nuances of nexus when influencers travel for work. She also highlights the importance of strong client communication to prevent scope creep and ensure compliance. Listeners walk away with clear, actionable advice to confidently support influencer clients while reinforcing the fundamentals of good tax practice.

Key Takeaways

• Diverse Income Streams: Influencers earn through brand deals, platform payouts, sponsorships, and in-kind payments—each with tax implications.
• Mixed-Use Expenses: Learn how to properly manage and document expenses like travel, wardrobe, and events.
• Entity Selection: When and why forming an S Corp (or other entity) may benefit influencers.
• Complexity in Simplicity: Foundational tax rules still apply—it’s about adapting them to new contexts.
• Communication Matters: Clear boundaries and ongoing dialogue keep client relationships strong and compliant.

Resources

• MRR Institute
• Marit Burmood CPA

FREE CPE (1 credit) via EarMark:
https://earmark.app/c/2732

Welcome to the Mr. R Show, presented by the MRR Institute, where listeners dive into the evolving landscape of the tax industry. This episode focuses on empowering tax professionals to transform their practices by reframing traditional tax tasks into proactive opportunities for growth and client value enhancement. Chris Picciurro, a seasoned tax planner, leads the discussion to shed light on moving from compliance-focused tasks to strategic tax planning that maximizes both revenue and client satisfaction.

Chris delves into the intricacies of utilizing tax schedules such as A, C, D, and E to unlock the advisory services' value. By reframing how these schedules are perceived—from mere compliance to gateways for strategic advice—tax professionals are encouraged to take a more proactive role in client engagement. The episode outlines actionable strategies for tax advisors to enhance client relationships year-round, emphasizing the lucrative potential of elevating from simple tax preparation to comprehensive financial strategy. Furthermore, the potential for monetizing advisory services is thoroughly discussed, offering tax professionals a path to maximize their impact and revenue.

Key Takeaways:

• Reframe Compliance Tasks: Transition from seeing tax filing as compliance to leveraging it as an opportunity for strategic tax planning and advisory services.
• Utilize Major Tax Schedules: Engage with schedules A, C, D, and E to discover new chances for client advisements, like optimizing deductions and identifying passive income opportunities.
• Increase Revenue Through Advisory Services: Adopt various pricing strategies, such as hourly rates, a la carte fees, and subscription models, to monetize advisory services effectively.
• Comprehensive Client Engagement: Shift from transactional tax services to year-round client interactions, which enhances loyalty and provides immense value.
• Partnerships for Revenue Growth: Collaborate with implementation partners for additional revenue streams while still ensuring ethical transparency and client value.

Notable Quotes:

• "Ideas are cheap. Implementation is valuable." – Chris Picciurro
• "Your tax returns should be a verb and not a noun." – Chris Picciurro
• "A tax return is a snapshot of what happened the year before." – Chris Picciurro
• "Implementing a Section 105 plan can convert personal medical expenses into a business deduction." – Chris Picciurro
• "Clients want you to be around year-round—they want you available, and that's where the value is." – Chris Picciurro

Resources:

• Connect with Chris Picciurro through the Teaching Tax Flow community and engage in the TaxPro 2.0 Facebook group for further collaboration and insights.
• Visit MRR Institute to explore practice resources, coaching opportunities, and join a peer-to-peer mastermind group.

Immerse yourself in this insightful episode to gain strategic advantages in the tax industry, and stay connected for more enriching content from the Mr. R Show. Discover the art of transforming tax preparation into an advisory powerhouse, enriching both your professional practice and client experiences.

• (00:00) - Summary
• (00:00) - Enhancing Tax Practices with Expert Strategies and Free CPEs
• (02:53) - Transforming Tax Compliance into Advisory Opportunities
• (08:26) - Core Tax Schedules and Strategic Tax Planning Opportunities
• (15:37) - Maximizing Tax Deductions Through Medical and Dental Expenses
• (20:31) - The Importance of Advisory Roles in Tax Professional Relationships
• (22:40) - Tax Strategies for Maximizing Deductions and Charitable Contributions
• (29:08) - Maximizing Tax Efficiency for Schedule C Filers
• (35:31) - Strategic Tax Planning with Capital Gains and Losses
• (41:01) - Tax Strategies for Real Estate and Pass-Through Income Optimization
• (48:28) - Monetizing Advisory Services in Accounting
• (51:07) - Monetizing Tax Advisory Services Through Various Revenue Streams
• (57:27) - Transforming Tax Practices Through Advisory Roles and Client Engagement