Professional Service, WorldWide
Founded by Tina and Jason Watson, the Watson CPA Group has provided worldwide business consulting and tax preparation from our Colorado Springs offices since 2007. Our clients are primarily in California, Nevada, Colorado, Texas, the Midwest, Florida and New England. We use secure client portals to safely exchange financial information, giving you access to excellent service and advice, while saving you time and resources. In person appointments are nice, even better with donuts, but are not required. Over 80% of our business clients are outside of Colorado!
What We Do
With 31 full-time professionals including Certified Public Accountants (CPA), Enrolled Agents (EA), Certified Financial Planners (CFP) and a whole gaggle of wonderful support staff on our team, the Watson CPA Group consults with small business owners and tax clients on riveting topics like these-
- corporate structures for tax efficiency, flexibility and protection
- S corp elections (even late S corp election back to Jan 1 2018)
- Tax Cuts & Jobs Act of 2017 and pass-thru tax breaks (Section 199A Qualified Business Income Deduction)
- reasonable shareholder salary determinations and defense
- tax advocacy, strategies and planning (bad news in August, OK... surprises in April, bad)
- business coaching to leverage more for you and your family, including lovely yet detached children
- industry analysis and peer to peer comparison
- executive and fringe benefits
- retirement planning including solo 401k plans
- business valuations, buy-sell support and exit strategies
- financial expert testimony, divorce litigation support
- tax representation (happy happy joy joy)
How are we different? Easy! We take a consultative approach to our client relationships. We have the experience of a downtown firm without the stuffiness. The Watson CPA Group will be your advocate by putting you in a position to make informed decisions by leveraging our professional network of knowledgeable Colorado CPAs, corporate and estate planning attorneys, and Certified Financial Planners to work in concert for you. Why play messenger when we can bring this service spectrum under one roof? Plus, our firm will be your point of contact as you travel through the cycles of your personal and business lives. Many accountants and business consultants are only compliance oriented, and while government and IRS compliance is critical, being proactive is equally important.
Here are some checklists and agendas that we routinely discuss with our small business owners and tax clients-
Some firms have this depth, yet very few offer a consultative approach beyond the nuts and bolts of accounting and business tax return preparation. Note how accounting and bookkeeping are not mentioned- we are focused on consultation, planning and tax return preparation, and therefore we have partnered with Aligaen Accounting to provide these services side by side with us in our office.
2017 Tax Reform
How does the new tax reform laws affect you? Interested in the new qualified business income deduction known as Section 199A? We have summarized the Tax Cuts & Jobs Act of 2017 below-
Simple Fee Ranges
The Watson CPA Group prides itself in being transparent by having a simple and reasonable fee structure. Straight billable hours? Gone. Fees based on the number of tax forms? Not us. While some projects cannot be firmly quoted, most business services and tax return preparation will fit into our fee ranges. We do not nickel and dime our client relationships. Extra time spent today is easily forgotten tomorrow. [more]
Outside of typical business services, consultation and tax preparation, we have focused on three niche competencies for our group of Colorado Springs CPAs and business advisors.
- S Corp elections and administration
- Rental properties and management consultation
- Flight crew tax preparation and per diem calculations (Jason used to be an airline pilot).
- ExPatriates, or ExPats for short.
We protect the fortress by not doing everything, but everything we do, we do very well. We also leave room for the individual tax client who does not own a business but has complex tax issues needing expertise and wealth management. In general our client base is comprised of consultants, engineers, financial advisors, physicians, chiropractors, doctors, surgeons, anesthesiologists, nurse anesthetists, insurance agents, photographers (the profitable ones), attorneys, online retailers, FBA retailers, real estate agents, good old fashioned widget makers, among several others. We also have several medical groups and financial advisor teams operating a tiered entity arrangement where each individual owns an S corporation. [more]
We are not salespeople; we are consultants. We are not putting lipstick on a pig expecting you to love it. Our job remains being professionally detached, giving you information and letting you decide.
We see far too many crazy schemes and half-baked ideas from attorneys and wealth managers. In some cases, they are good ideas. In most cases, all the entities, layering and mixed ownership is only the illusion of precision. As Chris Rock says, just because you can drive your car with your feet doesn't make it a good idea. In other words, let's not automatically convert "you can" into "you must."
Expectations of Our Clients
We select our clients on two important criteria. First, we expect our clients to be open, honest and responsive in communication. Second, we prefer to work with clients who view our partnership as a collaboration, where our challenges and successes are shared. Unlike transactional relationships, we'd rather work with you than for you. Having said that, we understand some people just want a transactional 'latte' and don't want to get too involved with steaming the milk- that is OK too. [more]
Let us work together to develop and implement a proactive yet nimble plan for your future!
Thank you for visiting... The Watson CPA Group