Confident Business Owner

MeredithCPAs has been our accountants for a period of 5 years. We find the entire staff to be extremely professional and a pleasure to work with. The things I have grown to like the most are:
1) Meeting with the management team are held according to a set schedule.
2) Financial statements are timely, accurate and formatted consistent with our companies’ growth pattern.
3) Taxes are files on a timely basis and no unresolved tax issue.
I am confident that the Meredith group is a key part of the success of our company and our personal growth.

–– Doug Johnson,  President
Cosmetic Laboratories


IRS Audit Assistance and CPA Switch

My company was being audited by the IRS. The IRS auditor had been on our premises looking at documentation off and on for almost a year. We met with the auditor and he told us that we were going to owe more than $500,000 in additional taxes for just one year and that there were multiple years involved. Our CPA told us that we would have to find a way to pay it. We knew that there was no way this could be accurate. Our company had never even made that much money.

We began to call other CPA firms to find out if there was anything we could do. We called MeredithCPAs and Karen Meredith came to our office and spent about 2 hours reviewing our financial statements, tax returns and asking a lot of questions. Karen then arranged to meet with the IRS auditor. After meeting with the IRS auditor, Karen met with us and explained the tax issues to us in laymen’s terms. For the first time, we understood the accounting issues that were causing the problem. Karen was able to ask us more questions, and determined that our entire accounting process was wrong. We had been using the wrong accounting method to account for our business. If we corrected our accounting method, the IRS adjustment would be zero.

Karen met with the IRS auditor for a second time and showed the auditor all of the supporting documentation for the accounting method error. The auditor agreed that the Company’s accounting was not accurate. The Code and Regulation he was relying upon did not apply. The IRS auditor agreed that we did not owe additional taxes. We then hired Meredith & Associates as our CPA firm. They helped us change our accounting processes and also simplified our bookkeeping. Not only did MeredithCPAs save us hundreds of thousands of dollars in taxes, they also helped us save money simplifying our accounting.

–– Maureen Smith

Time for a Change

After thirty-two years with our prior accounting firm, it was time for a change.  As soon as we walked in the door in 2012, we were very comfortable — very certain — that Meredith CPAs was the right partner for us going forward.  The entire team is expert in their profession and a pleasure to work with.

–– Mike Skinner

Entity Selection

We had been using MeredithCPAs for several years to prepare our c-corp return, but I had been doing our personal income taxes to try to save money. We use to make hundreds of thousands at the c-corp level, but we are getting into retirement age and started having losses on our gross income and on investments.

MeredithCPAs took the extra time to not only prepare our corporation’s return, but to ask us some detailed questions about why we had the company organized as a c-corp. She prepared a cost benefit analysis showing us that we would be saving over 30k immediately if we elected s-corp status. We already saw 15k of that savings when I let her prepare our 1040, and next year we will see the rest.

–– Deborah Braun

No Complaints

MeredithCPAs has taken care of my company and personal taxes for years. Their professionalism and integrity is above reproach. Always available for questions with a high priority for customer service, this company gets my highest marks.

–– R. Bernard Rochon, MD,  President
Medical and Surgical Clinic of Irving

Sale of Business

I sold my lawn care company for over $1.5 million and was really scared about the tax consequences. I’m one of those people that doesn’t want to have to know every detail about financial’s of my company, so I can focus on the work that needs to be done.

That’s why I love MeredithCPAs; they are like having a CFO even though my company is family owned. I trust them to do everything possible to minimize my taxes every year and they always exceed expectations.

At first glance it seemed I would owe over 300k in taxes which I was ok with because that is only about 20% tax, and from what I’ve read I’m in the 33% tax bracket. This wasn’t satisfactory to Kathy so she found me over 35k in additional savings. She explained that my effective tax rate came out to 15%.

I think the reason is all worked out perfectly is because they originally setup my companies. It was in such an efficient way to minimize taxes and maximize my profit margin. I could have been in big trouble without them on my side.

–– Greg O’Mere

A Guiding Hand

I run a small Texas-based manufacturing firm. Lawrence & Crane Design’s and manufactures original art and high-end specialty furniture.  Without the steady demeanor of Meredith & Company guiding us financially as our organization has developed and evolved, I would not be able to keep L&C focused on innovation and creativity.

–– Austin A. James
Lawrence & Crane, Inc

Texas Margin Tax Tested

We were referred to MCPAs through a friend who raved about them. We really didn’t want to go through the hassle of working with someone new because our old CPA had been with us for over 10 years. Our friend mentioned they do free second opinions, and we did feel like we were paying too much taxes for our company so we went for our hour consultation.

We were blown away when we met with Karen. She is a genuinely caring person who has setup a well oiled company from scratch. Before we even got into the tax nitty gritty, we were complaining about being disorganized, so she walked us around their office to show us some of the simple yet highly effective ways that her 20 employees get things done. They also have an IT group called Team Logic who helps us with QuickBooks technical problems now.

The greatest thing about our visit is that now we are paying 5k less in taxes to the TX Comptroller every year. That adds up fast! Karen explained that Texas recently implemented a new margin tax that has been hurting small business owners because we are taxed on gross revenue instead of net. So we could have an overall loss in the company but still owe TX money! Her team at MeredithCPAs had studied the new margin tax so much that they found us ways to reduce the tax that our old CPA had no idea about. We immediately switched over to her and have yet to look back.

–– Ben Williams

More Client Testimonials are available upon request.