San Diego, CA (PRWEB) April 01, 2013
Accountant, speaker and radio talk show host Richard Muscio, CPA, believes that the American Taxpayer Relief Act of 2012 is a “game changer” for owners of very profitable businesses, real estate operators and high-net-worth individuals and families. "CPA’s and their firms must change the way they do business to properly advise these A-list clients," he says.
Muscio recently discussed his ideas in Accounting Today in an article titled “CPA’s Team with Financial Advisors to Help the ‘Perfect Client’”. Earlier this year, he spoke to the Estate Planning Council of San Diego on the topic.
On April 28, Muscio will continue the discussion on his radio talk show, which will also feature trust attorney Richard Gaines and personal transformation coach Ken Druck, Ph.D. The show airs from 7 to 8 p.m. Pacific Time on KFMB 760. On May 3, he will speak at “The Perfect Client” training event in Carlsbad, Calif.
“The best clients of CPA firms are demanding much more than traditional services like income tax return and financial statement preparation,” Muscio says. “They are now, more than ever, concerned about reducing income taxes, avoiding estate taxes and mitigating the risks that can potentially derail their wealth-building plans. CPA’s and accounting firms who can solve these important issues for their best clients will become ‘most trusted advisors.’ Those who can’t will become dinosaurs.”
To meet rising client expectations, accountants must move away from the traditional services and referral models and form a new business model, one that involves collaboration with other professional financial services advisors.
“CPA firms of the future will act as ‘relationship managers,’ surrounding themselves with trusted advisors and solutions, to solve all the needs and wants of their best clients, not just the CPA-centric ones,” Muscio says.
About Richard Muscio, CPA
Richard Muscio’s San Diego accounting firm, Friedman Brannen, is the county’s only CPA firm that specializes in estate, gift and trust matters. Muscio’s primary role is serving as “of counsel” to six Family Offices that have their own “in-house” CPA/CFO. He writes about accounting principles and standards and a wealth of other accounting topics on his blog iymoney.com. His radio talk show, with co-host Joe Vecchio, features wealth management experts and other notable guests. It airs every Sunday from 7 to 8 p.m. Pacific Time on KFMB 760.